Oil Search exercised its right to acquire a 50% interest in, and operatorship of, 120 leases covering approximately 195,200 gross acres in the eastern area of the Alaska North Slope. The company will pay approximately USD 8 million for the leases, equivalent to 50% of the acquisition costs incurred by Lagniappe at an average acquisition cost of approximately USD 82 per acre. It is anticipated that the leases will be formally awarded by the State in mid-2019.