J Michael Kirksey News

Endeavour International Corporation has signed an agreement with the Smedvig Family Office of Norway for a current investment of $40 million (USD: 75.43, -0.30, -0.39%) and with the intent to increase that investment to a total of $100 million (USD: 75.43, -0.30, -0.39%) in the future to support the strategic activities of Endeavour. This investment will take the form of a convertible note and is expected to close in mid-January upon completion of required consents and approvals. "It is a significant vote of confidence for the Smedvig family to make this investment in our management team and company," said William L. Transier, chairman, president and chief executive officer.