Irish oil and gas exploration firm Providence Resources have shifted 30% in its operations in the Southern Porcupine basin to Cairn Energy subsidiary Capricorn.
The move was granted consent by the Irish Minister of Communications, Climate Action and Environment.
It follows on from the previously announced farm-in by Capricorn where the firm will partner in the upcoming Druid & Drombeg 53/6-A well, scheduled for late June.
The revised equity in the frontier licence is now Providence (Operator – 56%), Capricorn (30%) and Sosina (14%).