Capricorn Energy plc’s production for 2025 exceeded guidance, due to new development wells during the second half of the year on its licences, held with operator Cheiron Energy, onshore Egypt. DEBT Results posted average working interest production of 20,175 barrels of oil equivalent per day, with 41% liquids, higher than the forecast midpoint of 19,000 […]
Tag: Capricorn Energy plc
Harbour buys Waldorf assets for $170m
Harbour Energy plc has agreed to buy for $170 million (£127m) the UK North Sea assets of Waldorf Energy Partners Ltd and Waldorf Production Ltd, currently in administration. CAPRICORN The company said that the binding share sale and purchase is expected to add 20 thousand barrels of oil equivalent per day, and 2P reserves of […]
Capricorn doubts full $30m Waldorf payment
Capricorn Energy plc said it was unlikely to receive the full $29.5 million from its sale of the Catcher and Kraken oil fields, following court refusal of the purchaser’s restructuring plan. DISCUSSIONS The 2021 sale, amended in 2023, to Waldorf Production UK plc was part of Capricorn’s acquisition of a 25% non-operated interest in the […]
Capricorn JV to integrate Egypt concessions
Capricorn Energy plc is closer to integrating eight of its existing joint venture Egyptian Western Desert concessions into a new, single concession with improved commercial and development terms. PRODUCTION The Egyptian General Petroleum Corporation (EGPC) granted consent to the company and its partner Cheiron Oil and Gas Ltd, each holding 50%. The new concession agreement […]
Capricorn holds talks on Egypt gas price
Capricorn Energy plc said it had reached an initial agreement for an improved gas price over its concessions in the Western Desert, Egypt. ASSETS The deal with state oil company Egyptian General Petroleum Corporation (EGPC) also outlines terms to “promote increased investment and production”. An improved gas price would be for “incremental production and new discoveries alongside […]
Capricorn mulls Waldorf ‘restructure’
Capricorn Energy plc has engaged English and Norwegian counsel after its Columbus field partner Waldorf UK plc announced plans to restructure. ADMINISTRATION The company is awaiting the overdue final US$22.5 million settlement payment relating to the UK central North Sea asset. Capricorn today said: “Under Waldorf’s plan, certain amendments will be made to the terms […]