Borders & Southern Petroleum plc said it might need to raise additional funds before mid-2023 if it fails to find a farm-out partner for its oil and gas licences offshore Falkland Islands. FINANCES The company’s decision was included in its audited results for 12 months ended 31 December 2021, which showed its cash balance fell […]
Tag: oil and gas
i3 Energy publishes first annual ESG report
i3 Energy plc has published its first annual environment, social and governance (ESG) report for its oil and gas operations in the UK North Sea and Alberta, Canada. EMISSIONS A total of 82% of i3’s production is gas and natural gas liquids. i3 said it was committed to being net zero for Scope 1 and Scope […]
Serica urges fiscal stability for oil & gas industry as it looks to tax savings
Serica Energy plc today urged policy makers to encourage fiscal stability for the oil and gas industry as the company looks to tax savings for its North Sea operations. TAX SAVING The company made the comments today in its financial and production report for May 2022, following the Government’s Energy Profits Levy announced last month. […]
Serica increases May 2022 production and cash reserves
Serica Energy plc announced strong production and cash position for May 2022 from its gas operations in the UK North Sea. OPERATIONS More than 85% of Serica’s production is gas and its operated North Sea assets provide more than 5% of the UK’s gas production. The month of May saw net production average in excess […]
Angus completes acquisition of Saltfleetby
Angus Energy plc said it had completed the 100% acquisition Saltfleetby gas licence in East Lincolnshire. VALUE The company acquired the entire issued share capital of Saltfleetby Energy Ltd (SEL), which owned 49% working interest in the project, from the seller Forum Energy Services Ltd. Chief executive George Lucan said that the acquisition would be […]
Capricorn suspends $200m share buyback
Capricorn Energy plc said it had suspended its £200 million share buyback following the company’s announcement today to merge with Tullow Oil plc. The suspension excludes the US$25 million tranche announced on 7 April 2022, which is being conducted by JP Morgan Securities PLC on a non-discretionary basis and will end no later than 6 […]