Providence Resources: Court Rejected Appeal In Transocean Lawsuit
November 09 2016 - 3:58AM
Dow Jones News
LONDON--Irish oil and gas explorer Providence Resources PLC
(PZQA.DB) said Wednesday that the U.K. supreme court has rejected
its application to appeal against a previous lower court in regards
to a lawsuit between the company and Transocean Drilling U.K. Ltd.,
a unit of Transocean Ltd. (RIGN.EB).
The lawsuit arises from the use of the semi-submersible drilling
unit, Arctic III, on the Barryroe oil field located offshore
Ireland in 2011/2012. Providence owns 80% interest and Lansdowne
Oil & Gas PLC (LOGP.LN) owns remaining stake in the oil
field.
The supreme court ordered that permission to appeal be refused
as it doesn't raise a point of law of general public importance,
Providence said.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
November 09, 2016 03:43 ET (08:43 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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