Egdon Resources plc recorded a further increase in revenue and progress across all its offshore and onshore oil and gas assets. WRESSLE The company’s general meeting business report showed unaudited revenue for the five-month period from August to December 2022 of £3.08 million (2021: £2.07m). At the Wressle joint venture (30%) within PEDL180 and PEDL182, […]
Tag: oil and gas
Harbour to cut UK investment and jobs
Harbour Energy plc said that increased UK tax rates on oil and gas had prompted it to reduce its future activity and investment in the country, including job cuts, and plan more international growth. EXPENDITURE In the company’s unaudited trading and operations report for the year ended 31 December 2022, chief executive Linda Cook added […]
Baron submits JV bid in 33rd licensing round
Baron Oil plc said it had, as a joint venture non-operating partner, submitted an application in the UK offshore 33rd Round of licensing, conducted by the North Sea Transition Authority (NSTA). POTENTIAL The company said its bid was in line with its strategy to acquire “significant equity stakes” in potentially high impact oil and gas […]
Kistos to drill Benriach well in Q2
Kistos Holdings plc has signed a rig contract to drill during Q2 the joint venture Benriach well in the Greater Laggan Area (GLA), west of Shetland. GREATER LAGGAN AREA The GLA includes producing subsea gas fields of Laggan, Tormore, Glenlivet and Edradour tied back via a 143km flowline system to the Shetland Gas Plant (SGP) […]
Capricorn offers way out of impasse with Palliser
Capricorn Energy plc has offered a new solution to its disagreements with shareholder Palliser Capital over the oil and gas company’s board members and proposed merger with Israeli firm NewMed Energy Ltd. NEW SOLUTION In another open letter today from non-executive chair Nicoletta Giadrossi on behalf of the board, Capricorn noted that in its presentation […]
Borders outlines $640m Darwin development concept
Borders & Southern Petroleum plc said its design had been independently validated for a phased development concept for the large gas condensate offshore discovery of Darwin, south of the Falkland Islands. DESIGN The company aims to generate a production profile requiring relatively low initial capital expenditure; deliver accelerated payback; and allow expansion of the production […]