On 24th June 2019 Apache confirmed that Chrysaor has signed an agreement involving interests in eight blocks in the Beryl area. Through the deal Chrysaor will farm-in to five of Apacheâs operated licences and increase its interest in two other licences. Chrysaor will acquire 39.5% non-operated interest in licences P103 (Area W), P2335, P2353, P2354 and P2355. The company will also increase its interest to 39.5% in licences P103 (Area AA) and P1985 through acquiring interest from Apache. In return, Chrysaor will transfer 5.5% interest in licence P1986 which will increase Apacheâs interest from 55% to 60.5%. The deal involves acreage that is focussing on the Tertiary injectite play of which Apache had success in 2015 through the Corona discovery. All eight blocks are within tie-back distance to the Apache-operated Beryl production platform. The deal is subject to regulatory approval from the Oil and Gas Authority.             Licence         Operator         Pre-Completion Equity         Post-Completion Equity             Chrysaor   Limited         Apache   Beryl I Limited         Chrysaor   Limited         Apache   Beryl I Limited             P103 (Area W)         Apache Beryl   I Limited         0%         100%         39.50%         60.50%             P2335         Apache Beryl   I Limited         0%         100%         39.50%         60.50%             P2353         Apache Beryl   I Limited         0%         100%         39.50%         60.50%             P2354         Apache Beryl   I Limited         0%         100%         39.50%         60.50%             P2355         Apache Beryl   I Limited         0%         100%         39.50%         60.50%             P103 (Area AA)         Apache Beryl   I Limited         4.08%         95.92%         39.50%         60.50%             P1985         Apache Beryl   I Limited         22.78%         77.22%         39.50%         60.50%             P1986         Apache Beryl   I Limited         45%         55%         39.50%         60.50%        Â   Apache made the Corona discovery in October 2015 which was the companyâs first Tertiary aged injectite prospect. Apache reported reserves at Corona in the region of 9-19 MMboe (Pmean to P10), comprising of 98% oil and 2% gas. The discovery well penetrated a 362-foot hydrocarbon column height with 225-foot net pay and excellent reservoir quality. Apache believe the geological concept is well understood and the play is on trend with multiple producing properties. Several remaining undrilled prospects exist within the Corona development area.     The Beryl area comprises the Beryl field along with Loirston, Ness, Nevis, Skene and Buckland all produced from two fixed platforms â Beryl Alpha and Beryl Bravo. Beryl is a multi-reservoir oil field, one of the largest oil fields in the UK North Sea. It was discovered in 1972 and since then over 200 development wells have been drilled on the field which has been developed using the Beryl A and B platforms in conjunction with a number of subsea wells. Production from the B platform is piped to concrete storage cells at the base of the Beryl A platform (864,000 bo capacity) until it is transferred into tankers through the two SPM's (Single Point Moorings). Gas production began in 1992 through the SAGE (Scottish Area Gas Evacuation) gas export system to St Fergus.
Chrysaor has agreed to acquire a 39,5% non-op. interest in 5 licences: P103 Area W, P2335, P2353, P2354 and P2355 in the Beryl area from Apache (->60,5%).