Tullow Oil plc has signed a binding lock-up agreement for refinancing of circa 66% of its $1,285,245,000 (£953m) 10.25% senior secured notes, due in May 2026. REVENUE The agreement, with debt holders including Glencore Energy UK Ltd’s $400 million notes,is expected to complete during the second quarter of 2026. The Irish company said that the transaction released its senior […]
Tag: oil and gas
Tullow agrees $205m FPSO for Ghana fields
Tullow Oil plc has signed a gross $205 (£152m) million sale and purchase agreement for the floating production, storage and offloading vessel (FPSO), Prof. John Evans Atta Mills. COSTS Payment of transaction, signed on behalf of the company’s joint venture partners, will be paid on completion at the end of the first quarter of 2027. Net […]
Angus increases Saltfleetby production
Angus energy plc reported a “substantial” increase in production, after completing coil tubing operations on Saltfleetby-B7 and B2 wells, at the gas field on the Lincolnshire coast. DEBT The company recorded average daily production of approximately 6.3 million standard cubic feet per day, over last week, which is around a 30% increase on Q4 2025 […]
Beacon prepares for vote on Colle Santo deal
Beacon Energy plc said it had published its admission document, dated 17 February, in connection with its proposed purchase of an interest in the Colle Santo gas field in Italy. SHAREHOLDERS The company’s share purchase agreement with Reabold Resources plc will result in an investment in LNEnergy Ltd, which owns 90% of the project. In […]
West Newton JV allowed ‘reservoir stimulation’
Rathlin Energy (UK) Ltd said that the Environment Agency had issued the variation to the permit, which includes a “reservoir stimulation” in the West Newton-2 well, at the site onshore East Yorkshire. RECOMPLETION The permission granted to the operator is subject to pre-operational conditions. “This key regulatory milestone clears a major hurdle in the company’s […]
Beacon raises £56,000 via retail offer
Beacon Energy plc conditionally raised approximately £56,180, less than a quarter of the £250,000 target, via a retail offer. COLLE SANTO The company will issue of 1,440,519 new ordinary shares, at the issue price of 3.9 pence per share, subject to shareholder approval at a general meeting scheduled for 4 March 2026. Net proceeds will […]