Spring Energy Signs Contract with Ross Offshore

Spring Energy announces that a framework contract has been signed with Ross Offshore, whereas Ross Offshore will provide planning and execution support for Spring Energy’s drilling operations on the NCS for a period of three years, with options for two times two years.

Frode Losnedal, Ross Offshore Vice President: “We are pleased to add a new client to our business. We are delighted that Spring Energy has chosen Ross Offshore as its partner for well management services.”

 About Spring Energy:

Spring Energy is a privately owned Norwegian oil and gas exploration, development and production company focused on the mature and immature areas of the Norwegian Continental Shelf.

The Company’s headquarters are in Oslo where it has a team of 33 highly experienced management and staff. The team has both high level technical and commercial competence and an excellent network of industry contacts which combine to give it a commercial edge.

Since its startup in 2008, the Company has already enjoyed considerable success. Through a combination of successful applications for acreage in NCS licensing rounds, acquisitions, exploration, swapping of assets and active management of the asset portfolio, Spring Energy has established a well balanced combination of quality exploration, appraisal and production assets.

With a consistent and focused strategy, the Company is rapidly growing towards its vision of becoming a highly profitable, fully integrated exploration, development and production company.

The Company is backed by HitecVision, a private equity company with a track record of making sound strategic investments in the Norwegian oil and gas sector.

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Source: , October 6, 2011; Image: Spring Energy