NEO Energy has completed the acquisition of Spirit Energy's 13% interest and operatorship of licence P456 which hosts the Babbage gas field. It was confirmed that NEO acquired the interest on 14 May 2020.   Babbage was discovered in 1989 by Amocoâs 48/2-2Z well and appraisal drilling took place in 2006. The field has a Permian Leman Sandstone reservoir. During Phase 1 of development three horizontal multi-fractured wells were drilled between April and November 2009 and a platform was installed in September 2009. Production commenced from the field in August 2010. During phase 2, which took place between 2012 and 2013, there were 2 multi-fracced development wells were drilled. The Not Permanently Attended Installation (NPAI) is tied-back to the West Sole field which is located 28 km to the south. The field is expected to produce over 175 Bcfg over a life of 20 years.  Following the completion of the deal interest in the licence is held by NEO Energy (SNS) Limited (60% + operator) and Dana Petroleum (E&P) Limited (40%).
NEO Energy has completed the acquisition of Spirit Energy's 13% interest and operatorship of licence P456 which hosts the Babbage gas field. It was confirmed that NEO acquired the interest 