Sign up
Oil Capital

Victoria Oil & Gas agrees settlement with Weatherfords

The agreement settles debt related to past drilling activities at the Logbaba field in Cameroon.
oil and gas operations
VOG is paying US$1.4mln

Victoria Oil & Gas PLC (LON:VOG) has signed a settlement agreement to resolve all outstanding obligations to Weatherfords for the La-107 and La-108 well programmes at the Logbaba field.

The company has agreed to pay Weatherfords Services and Rental Ltd US$1.4mln as full and final payment, to extinguish outstanding debt.

WATCH: VOG positioned for growth as it focuses on costs and profitability

“In accordance with the settlement, the parties have signed and filed with the relevant court consent orders for the statutory demand to be set aside, which is now only a matter of process at court," the group said.

Jamie_55a91591db06b.jpg
Why Invest In Victoria Oil & Gas PLC? Read More Here

Register here to be notified of future VOG Company articles
View full VOG profile View Profile
View All

Related Articles

© oil Capital 2019

Oil Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed oil companies to interact with institutional and highly capitalised investors.
Headquartered in London, Oil Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.