Angus Energy plc recorded a steep rise in revenues from increased gas production at its 100% owned Saltfleetby field in east Lincolnshire. LIDSEY For the year ending September 2023, revenue from the field’s revenue rose to approximately £28 million (2022: £3m) on production of gross 31,750 bbls of oil and 25,228,853 therms of natural gas […]
Tag: Balcombe oil – PEDL244 – Sussex
Angus signs definitive £20m Trafigura loan
Angus Energy plc will refinance its existing debt and further onshore oil and gas operations after signing a £20 million loan with a subsidiary of Trafigura Group PTE Ltd. COMPRESSOR The definitive documentation to draw down in full on the facility is based on terms agreed at the end of 2023. These include transfer of […]
Angus to resume testing at Balcombe
Angus Energy plc will restart testing the Balcombe well site in West Sussex, after the High Court dismissed a judicial review from objectors. HYDRAULIC FRACTURING The Balcombe-2Z well was drilled almost a decade ago, and in November 2018 the company as operator conducted a short-term, inconclusive test. Project partners of PEDL244 at the time comprised […]
Angus attracts interests in buyout and Saltfleetby licence
Angus Energy plc said it had attracted at least six genuine approaches from parties interested in acquiring the company or its licence interest in the Saltfleetby gas field in Lincolnshire. DUE DILIGENCE In a statement the company said it would evaluate each expression of interest until a firm proposal was agreed. Angus does not expect […]
Angus to appeal against Balcombe well test refusal
Angus Energy plc said it would appeal against West Sussex County Council’s refusal to allow a short well test at the Balcombe oil field, within PEDL244, southeast of Crawley. PARTNERS The company added that it had had further discussions with the local authority, whose planning officers had recommended approval. Angus, which has a 25% interest […]