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 […]
Tag: Waldorf Production Ltd
Capricorn doubts full $30m Waldorf payment
Capricorn Energy plc said it was unlikely to receive the full $29.5 million from its sale of the Catcher and Kraken oil fields, following court refusal of the purchaser’s restructuring plan. DISCUSSIONS The 2021 sale, amended in 2023, to Waldorf Production UK plc was part of Capricorn’s acquisition of a 25% non-operated interest in the […]
Serica suspends production from Triton FPSO
Serica Energy plc has suspended production until mid to late March from the Triton FPSO because of issues resulting from last month’s Storm Éowyn. IMPROVEMENT The company said that on 24 January, sea spray triggered the fire and gas detection system, causing an automatic production shutdown of operations. Production restarted on 28 January but “minor […]
Capricorn mulls Waldorf ‘restructure’
Capricorn Energy plc has engaged English and Norwegian counsel after its Columbus field partner Waldorf UK plc announced plans to restructure. ADMINISTRATION The company is awaiting the overdue final US$22.5 million settlement payment relating to the UK central North Sea asset. Capricorn today said: “Under Waldorf’s plan, certain amendments will be made to the terms […]
Capricorn awaits delayed Columbus payment
Capricorn Energy plc said it was still awaiting the final US$22.5 million settlement payment relating to the Columbus field from Waldorf Production UK plc. EXTENSION The company acquired a non-operated 25% interest in the field when it sold its interests in the Catcher and Kraken fields under revised term in December 2023. After Waldorf missed […]
Capricorn agrees Catcher-Kraken sale payments
Capricorn Energy plc has agreed the final settlement of payment terms from the sale of its previous assets in the Catcher and Kraken fields to Waldorf Production UK plc. CASH FLOWS Under revised terms, Capricorn will now receive $72.5 million over the next 13 months and Waldorf’s 25% non-operated working interest in the Columbus gas […]