Serica Energy plc has bought Spirit Energy Ltd’s remaining 15% non-operated interest in the Cygnus gas field, and producing assets in the Greater Markham Area and Southern North Sea, for £98 million. DRILLING The transaction, comprising a headline consideration of £57m and £41m of decommissioning liabilities, has an effective economic date of 1 January 2025. The […]
Tag: oil and gas
Borders issues 503,250 new shares
Borders & Southern Petroleum plc has issued 503,250 new ordinary shares of one pence each, following notice to exercise warrants at 10 pence per warrant share, for a total £50,325. TVRs On admission, the company’s total issues share capital will comprise 879,315,411 ordinary shares, each with voting rights. Borders does not hold any ordinary shares in treasury. The […]
Union Jack JV exits Biscathorpe
Union Jack Oil plc and its partners have withdrawn their appeal against refusal of planning permission to drill a side-track and develop the Biscathorpe oil field in the Lincolnshire Wolds. INQUIRY The JV is expected to relinquish PEDL253 “in due course”, some ten years after operator Egdon Resources UK Ltd acquired the licence. Union Jack […]
Block advances talks for potential farm-in
Block Energy plc is progressing “extensive” talks for a potential farm-in, with an estimated US$25 to 30 million carry, over the undeveloped gas-bearing natural fracture system in the Patardzueli-Samgori field, Georgia. APPRAISAL The company’s blocks, XIB and XIF, lie within the Lower Eocene and Upper Cretaceous reservoirs, which are more than a kilometre thick. A […]
Harbour buys Waldorf assets for $170m
Harbour Energy plc has agreed to buy for $170 million (£127m) the UK North Sea assets of Waldorf Energy Partners Ltd and Waldorf Production Ltd, currently in administration. CAPRICORN The company said that the binding share sale and purchase is expected to add 20 thousand barrels of oil equivalent per day, and 2P reserves of […]
Serica completes acquisition of Lancaster field
Serica Energy plc has acquired the Lancaster field following its completed £14.5 million acquisition of Prax Upstream Ltd from Prax Exploration & Production. COMPANY MOVES The company also assumed PUL’s cash balance, equivalent of $34m (£25.4m), of which $12m (£9m) is restricted to cover demobilisation of the Aoka Mizu floating production, storage and offloading vessel. […]