Hurricane Energy plc said investment allowances could offset its forecast £5 million bill under the new energy profits levy (EPL) from its operations at the Lancaster field, west of Shetland. ENERGY PROFITS LEVY In its monthly financial and operational report of 31 May 2022, the company added it was unable to determine the full impact […]
Tag: oil and gas
EnQuest chairman Martin Houston to step down
EnQuest plc’s non-executive chairman Martin Houston is to step down to focus on his other business interests. Mr Houston, who has held the post since 1 October 2019, will leave once the company finds a successor. EnQuest said that under Mr Houston’s leadership, the company made good progress against its strategic objectives, particularly with year-end […]
Harbour begins $200m share buyback
Harbour Energy plc said it had today started a share buyback programme of the company’s ordinary shares for up to a maximum of $200 million. PROGRAMME The company has signed an irrevocable, non-discretionary agreements with its corporate brokers to execute the programme on its behalf. Harbour added that it continued to employ a disciplined and […]
Rockhopper raises £5.75m via placing and subscription
Rockhopper Exploration plc has raised US$7 million (£5.75m) through a placing and subscription. DISCOUNT The company placed 82,182,776 units each at the issue price of 7 pence, which is a 12.5% discount to the closing price on 14 June 2022. Each unit comprises one new ordinary share and, for every two new ordinary shares subscribed for, […]
Orcadian signs data deal with TGS
Orcadian Energy plc has signed a seismic licensing deal with the energy data company TGS for its North Sea licences. AGREEMENT The agreement will give Orcadian high quality seismic data, revealing the reservoir structures and likely fluid type. Data will be used to evaluate the “multitude of development opportunities and prospects”. The company added that […]
Scirocco to sell Ruvuma interest for up to $16m
Scirocco Energy plc has agreed to sell its 25% non-operated interest in the Ruvuma gas asset in Tanzania for up to US$16 million to Wentworth Resources plc. TERMS The company owns a legacy 25% working interest in the project for which ARA Petroleum Tanzania (APT) is the operator. The conditional binding agreement, subject to shareholder […]