News: OSH Oil Search buys oil assets in Alaska for an acquisition payment of $400 mln

Nov 1 (Reuters) - Oil Search Ltd (OSH) :

• Acquires oil assets in Alaska North Slope
• Deal for an acquisition payment of $400 mln
• Acquisition, exploration, appraisal & development costs to be funded by existing cash, cash flows and additional financing facilities
• Will assume operatorship of assets in June, 2018
• To buy assets from privately-owned companies Armstrong Energy LLC and GMT Exploration Company LLC
• Has also entered into a cooperation agreement with Halliburton
• Nanushuk's purchase & development & LNG expansion in PNG to not impact dividend policy nor need additional equity to be raised