Hurricane Energy plc is planning a “significant”capital reduction programme to distribute reserves of up to $70 million, equivalent to 3.1 pence per share, to shareholders. MEETING Hurricane said that the programme involved cancellation of the company’s share premium account of approximately $822.5m, in order to create distributable reserves. The company intends to start the programme in Q1 2023 should […]
Tag: oil and gas
United lowers guidance after ASH-4 flow rates fall and workovers delayed
United Oil & Gas plc today said that a decrease in flow rates from the ASH-4 well and delayed maintenance workovers had reduced production guidance at Abu Sennan, onshore Egypt. ASH-4 OIL VOLUME The ASH-4 step-out well previously encountered 20 metres of net pay through the primary Alam El Bueib (AEB) reservoir target and was […]
Angus drills side-track to top of target reservoir
Angus Energy plc said that drilling of the SF07V side track well has reached the top of the target reservoir at Saltfleetby in East Lincolnshire. TESTING “Drilling was paused at a total measured depth along hole of 2,492 metres (true vertical depth of 2,261 metres) which is 10 metres higher than anticipated,” said the company […]
Neptune donates £100,000 to help rough sleepers
Neptune Energy has for the second year made a donation to Sheltersuit UK to help rough sleepers. ESSENTIAL SUPPORT The company said that the £100,000 donation would provide some 1,500 Shelterbags and pay the wages two Sheltersuit employees who came to the UK as refugees. “With the number of people sleeping on London streets rising, […]
Quattro’ appointment of Bradley Gunn as director ends
Quatro Energy Ltd’s appointment of Bradley Gerald Gunn as a director has ended. Companies House reported the termination effective from 28 September 2022. Quattro’s management currently comprises co-founders Neill Carson and Jens Pace, and chief financial officer Mark Semple. The company was incorporated in early 2021 with the aim of building a portfolio of oil […]
NSTA investigates flaring and venting without consent
The North Sea Transition Authority in investigating an oil and gas company for flaring and venting without consent in the North Sea. ENERGY WASTE Possible likely action by the regulator includes a fine or up to the relevant licence being taken away. “Monitoring flaring and venting and reducing emissions are vital parts of the NSTA’s […]