Harbour Energy plc has been appointed operator of the joint venture Zama oil field, containing an estimated 750 million barrels of oil equivalent gross recoverable resources, offshore Mexico. STRATEGIC The JV plans to complete engineering and design work in 2026 before making a final investment decision. Project partners, including previous operator state-owned oil and gas […]
Tag: oil and gas
Antler secures farm-out to drill Barracuda
Europa Oil & Gas (Holdings) plc investee, Antler Global Ltd, has secured a 40% farm-out to Fuhai (Beijing) Energy Ltd to drill the EG-08 block, offshore Equatorial Guinea. RESOURCES Fuhai, a subsidiary of Chinese energy and chemical business Fuhai Group New Energy Holding Co. Ltd, will fund 95% of the total costs, up to $53 […]
Harbour enters Gulf with $3.2bn acquisition
Harbour Energy plc has entered the Gulf of Mexico (America) with the $3.2 billion (£2.4bn) purchase of LLOG Exploration Company LLC. PRODUCTION The proposed purchase from LLOG Holdings LLC comprises $2.7bn (£2bn) cash and $500 million (£371m) in 174,855,744 Harbour’s voting ordinary shares each at 205 pence. An underwritten $1bn (£740,000) bridge facility, a $1bn term […]
Helium One JV produces first gas at Galactica
Helium One Global Ltd has begun producing helium gas from the Galactica joint venture project in Las Animas County in Colorado, USA. PROJECT LIFE Partner and operator Blue Star Helium commissioned the Pinon Canyon processing facility on 22 December, within the target date. Helium One said that off-take agreements were initially expected to be short-term […]
Red Rock raises £650,000
Red Rock Resources plc has raised £650,000 via two separate subscriptions and conversion of a debt. TVRs On 19 December, Clear Capital Markets made a cash subscription of 1,990,477,000 new ordinary shares of 0.01 pence each, at a price of 0.021 pence per share. Red Rock will also issue two warrants for every five subscription […]
Prospex raises £565,000
Prospex Energy plc has issued £565,000 in unsecured convertible loan notes to existing and new investors, including the company’s directors, as part of a proposed fundraise of up to £1.6 million. DIRECTORS’ DEALINGS Directors who participated in the 19 December fundraise include non-executive chairman Bill Smith for £25,000, independent non-executive director Alasdair Buchanan, £25,000; chief […]