Providence acquires majority stake in Singleton oil field

Providence, the IEX-listed oil and gas exploration and production company, today announced that it has reached conditional agreement with Star Energy Group PLC (STAR) to acquire its 79.125% share in the producing Singleton Oil Field, onshore UK.

Subject to regulatory approval and contract, Providence’s interest in the Singleton Oil Field will therefore increase from 20% to 99.125%. The remaining 0.875% of the field is owned by Noble Resources.