Deltic Energy plc preparations continue for drilling the Selene gas exploration well and Pensacola appraisal well during 2024 in the southern North Sea. FINANCING Site survey work, rig selection and contracting process for both wells continue ahead of drilling Selene on licence P2437 during Q3 2024 and the Pensacola discovery in late 2024. Deltic estimates […]
Tag: Deltic Energy plc
Deltic grants 2m share options
Deltic Energy plc has granted options over a total of 2,025,000 ordinary shares in the company to its directors, senior management and employees. INCENTIVES The options each have an exercise price of 28.25 pence, being the closing mid-market price of an ordinary share on 23 August 2023. The grant of options is a mixture of […]
Deltic marks ‘transformational’ six months
Deltic Energy plc continues to hold a strong balance sheet after a “transformational” first half year from the major hydrocarbon discovery in the Pensacola licence. FINANCES Results for the the six months of 2023 show that the company began the year with £20.4 million cash and ended the period with £9.1m following planned investment of £10m […]
Deltic-Shell begin site survey for Selene
Deltic Energy plc’s joint venture partner has begun site survey works for the Selene gas exploration well off the northeast coast of England. RIG LOCATION Operator Shell UK Ltd has mobilised a geophysical site survey vessel to acquire high resolution 2D seismic lines over the proposed well location. Seismic acquisition is expected to complete before […]
Deltic exits three southern North Sea gas licences
Deltic Energy plc will withdraw from three of its five joint venture gas licences in the southern North Sea following its partner Capricorn Energy‘s move to focus on its own Egyptian assets. NEW PARTNERS Deltic, which is rationalising and “high grading” its portfolio, will withdraw from P2560, P2561 and P2562 while retaining P2567 (Cadence) and […]
Deltic marks rise in estimated Pensacola oil and gas
Deltic Energy plc said the estimated oil and gas resources have nearly doubled for the joint venture (JV) Pensacola discovery on licence P2252 in the UK North Sea. ANALYSIS The company’s post-well analysis now estimates the structure to contain gross P50 initially in place volumes of gas and oil of 342 million barrels of oil […]