Angus Energy plc said that a United States-based third party would manage its potential acquisition of producing assets, offshore Gulf of America (Gulf of Mexico). DEBT The move will leave Angus with a minority, non-operated interest, allowing it to “focus financial and human capital efficiently, reduce operational risk and enhance potential returns on investment”. Any […]
Tag: Saltfleetby gas field
Angus agrees non-binding terms for Trafigura debt
Angus Energy pl has agreed non-binding terms with Trafigura to restructure its debt in order to provide a “stable financial platform to support future operations”. ACQUISITION The terms are subject to final agreements on new covenants, revised terms with the overriding royalty interest holders, and deferred payment owed to Forum Energy Services Ltd. The company’s […]
Angus looks to diversify with Gulf assets
Angus Energy plc has signed a tentative deal to diversify and expand its footprint to the Gulf of Mexico (Gulf of America) in a reverse takeover. STABILITY The non-binding agreement to buy a “group of producing assets” results in the company’s shares’ suspension today from trading under AIM rules. Angus said that the potential acquisition […]
New compressor increases Saltfleetby production
Angus Energy plc has increased production following the commissioning of the new booster compressor at the Saltfleetby gas field in East Lincolnshire. OPTIMISE The company said that operations, starting on 11 April, were at a lower suction pressure than the two existing compressors to allow “more pressure drawdown of the wells”. This also eased the […]
Angus receives booster compressor for Saltfleetby
Angus Energy plc has received the booster compressor to add to its existing two compressors at the Saltfleetby field gas processing facility in Lincolnshire. RECOVERY The US-made unit was shipped to the UK and arrived at the site last week. “It has been safely positioned on its concrete plinth and the work to complete the […]
Angus completes Saltfleetby maintenance
Angus Energy plc has completed the planned annual maintenance shutdown at the Saltfleetby gas site, east Lincolnshire. The scheduled five-day outage, finished on 13 July, included maintenance and improvement work, including the installation of compressor acoustic hood. The company reported no safety incidents and no harm to the environment. Dual compressor operation resumed during the […]