Houston-headquartered Endeavour International has put itself up for sale.
The business, focused on the UK North Sea, says it is looking to sell all or substantially all of its North Sea oil and gas assets, with Blackstone Advisory Partners acting as financial advisor.
The firm announced the sale of its US onshore assets in a motion filed with the United States Bankruptcy Court District of Delaware on 29 April.
Endeavour says it believes that a timely sale of all or part of its North Sea assets may provide the best means to preserve and protect the value of the assets, with the ultimate goal of maximizing the benefit to the stakeholders.
Endeavour was created in 2004 to find and to develop oil and gas reserves in the UK.
Today, Endeavour owns interests in five producing oil and gas fields in the United Kingdom North Sea – Alba, Bacchus, Rochelle, Bittern and Enoch.
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