Rockhopper Exploration plc has secured a two-year extension to its licences in the North Falkland Basin. TRANSACTION The additional period was granted as part of the transaction, expected to complete during Q3 2022, of the change in companies involved in the project. Rockhopper added that the Falkland Islands Government and the UK Secretary of State had received […]
Tag: oil and gas
Block starts Project II to deepen existing oil well in undrained reservoir
Block Energy plc plans to deepen an existing oil well in Block XIB as the company begins the second of its three-project strategy in Georgia. PROJECT II Project II involves the re-development of the Patardzeuli Middle Eocene reservoir. The company will drill well JSR-01DEEP by September using cash generated from operations. Project II will run […]
Moody’s raises ratings for Neptune Energy
Neptune Energy said that Moody’s Investors Service had upgraded Neptune Energy Group Midco Ltd to Ba2 from Ba3. The Moody’s also upgraded Neptune Energy Bondco plc’s existing $850 million senior notes due in 2025 to Ba3 from B1. The oil exploration and development company added that its outlook has changed to stable from positive.
Neptune drills development wells on Fenja
Neptune Energy said it had successfully drilled four development wells ahead of the start of production on the Fenja field in the Norwegian Sea. PRODUCTION The operator said that completion of the four wells marked an important milestone in the development of Fenja, which is scheduled to come on stream in the first quarter of […]
Serica rejects second Kistos merger offer
Serica Energy plc has rejected a new revised cash and share merger offer from Kistos plc for its assets in the North Sea. OFFER Two weeks ago, the exploration and production company rejected the smaller company’s first offer. Kistos revised proposal offers 425 pence per Serica share and is an 11% increase to Serica shareholders […]
Serica Energy quadruples production from Bruce
Serica Energy plc has quadrupled production from its 24-year-old well in the Bruce field while the Columbus well reached one million barrels of oil equivalent this month. BRUCE In an operations report, the company said that following Serica’s first light well intervention vessel (LWIV) campaign, the initial well (Bruce M1) was re-entered for the first […]