The Parkmead Group plc has completed the sale, announced in December 2024, of its offshore UK and onshore Netherlands exploration and production interests to Serica Energy (UK) Ltd. GROWTH The sold assets were held in the company’s subsidiary Parkmead (E&P) Ltd. The company said it had received £7.3 million cash and expects a further £7m […]
Tag: Skerryvore prospects – UK Central North Sea
Parkmead agrees £14m assets’ sale to Serica
The Parkmead Group plc has agreed to sell its offshore UK and onshore Netherlands exploration and production interests for £14 million, with up to £120m in contingent payments, to Serica Energy (UK) Ltd. GROWTH The sale includes the company’s 50% working interest in licences P2400, containing the Skerryvore prospect, and P2634, containing the Fynn Beauly […]
Parkmead writes off Perth oil for £33m
The Parkmead Group will write off its Perth oil development in a non-cash one-off impairment of approximately £33 million because of “unprecedented challenges” in the hydrocarbon sector. ISSUES In its business review, the company said it had re-evaluated its direction following “volatile oil and gas prices, ageing infrastructure and rising capital and operating costs”. Parkmead […]
Parkmead to drill first exploration well at Skerryvore
The Parkmead Group will drill its first exploration well in Skerryvore as it increases its stake from 30% to 50% in the high-impact UK central North Sea project. INFRASTRUCTURE The operator’s joint venture partners are Serica Energy (UK) Ltd with 20% and CalEnergy (Gas) Ltd holding 30%. The company said that its geotechnical work programme […]