Orcadian Energy plc raised £500,000 via a discounted placing of new ordinary shares tocertain institutional and other investors at 10 pence per share. DISCOUNT The placing on 1 February, conducted by way of an accelerated bookbuild process, was at a discount of approximately 33% to the closing price of 15 pence per ordinary share on […]
Tag: oil and gas
Neptune-Spirit start production from tenth Cygnus well
Joint venture partners Neptune Energy and Spirit Energy have started production from the tenth well at the Cygnus gas field in the UK Southern North Sea. EMISSIONS Operator Neptune (38.75%) said yesterday that drilling was carried out by Borr Drilling’s Prospector 1 jack-up rig. The rig is the first in Borr’s fleet to be equipped […]
Predator pauses drilling MOU-2 due to sticky clays
Predator Oil & Gas Holdings plc has suspended drilling of the MOU-2 well after encountering “extremely sticky clays” which prevented wire logs from penetrating further at Guercif, onshore Morocco. RE-EVALUATION The sticky clays are in a geological formation overlying the Moulouya Fan primary objective. The company said it would re-evaluate the drilling programme through the […]
Neptune begins drilling Adorf Z18 production well
Neptune Energy said that drilling began today at its operated Adorf Z18 gas production well in the municipality of Georgsdorf, northwestern Germany. ADORF FIELD The well is being drilled by KCA Deutag, with final depth of around 4,700 metres expected to be reached in June this year. The Adorf Carboniferous gas field (100%) was discovered […]
Capricorn senior directors leave
Capricorn Energy plc’s senior directors have left their posts and the company has postponed its general meeting (GM) on proposals to merge with Israeli firm NewMed Energy Ltd. NEW DATE The moves follow demands from shareholder Palliser Capital plc which has since December 2022 objected to Capricorn’s plans for the merger and has also called […]
Serica renews US sanctions licence for Rhum
Serica Energy plc has renewed its US licence and secondary sanctions for the UK Northern North Sea Rhum field, which allow companies to provide goods, services and support. TAILWIND The licence, shared 50-50 with Iranian Oil Company (UK) Ltd, grants permission to US, US-owned and non-US companies. Issued by the US Office of Foreign Assets Control […]