Endeavour International (END) -2.6% premarket after saying its Scott platform in the U.K. North Sea will begin a shutdown period on July 11 lasting 6-8 weeks to complete a planned work program. As a result, first production at the Rochelle field will be delayed until September.
Shares of Endeavour International (END +26.7%) are soaring after reporting a narrower Q4 loss as sales revenue surged nearly six-fold to $97.6M from $16.6M; analysts had expected ~$84M. Sales volumes more than doubled to ~11.5K boe/day as average prices also more than doubled to $91.94/boe. Oil represented 54% of total proved reserves at year-end 2012 vs. 18% a year ago.