(From Aberdeen Press & Journal (UK))
Energy Editor A US oil company yesterday stressed its commitment to the North Sea despite the possible sale of its Leadon field.
Kerr-McGee has invested more than GBP550million in Leadon, which it described as a disappointment.
Output from the field, 220 miles north-east of Aberdeen, is around 16,000-18,000 barrels of oil equivalent per day - less than half the expected figure.
Kerr-McGee, which has its HQ in Oklahoma City, is to take a special after-tax non-cash charge of around GBP240million during the fourth quarter for costs related to Leadon and other fields in the North Sea and the Gulf of Mexico. …