Neptune Energy said that Moody’s Investors Service had upgraded Neptune Energy Group Midco Ltd to Ba2 from Ba3. The Moody’s also upgraded Neptune Energy Bondco plc’s existing $850 million senior notes due in 2025 to Ba3 from B1. The oil exploration and development company added that its outlook has changed to stable from positive.
Month: November 2024
Neptune drills development wells on Fenja
Neptune Energy said it had successfully drilled four development wells ahead of the start of production on the Fenja field in the Norwegian Sea. PRODUCTION The operator said that completion of the four wells marked an important milestone in the development of Fenja, which is scheduled to come on stream in the first quarter of […]
Prospex Energy raises £1.87m through loan notes
Prospex Energy plc has raised £1.87 million via the issue of unsecured convertible loan notes to further the Selva gas discovery (37%) on the Podere Gallina permit in the Po Valley, Italy. TERMS A total of 27 individual subscribers include all four current directors and one former director of the company. The loan notes are […]
Union Jack hits $8m profit at Wressle
Union Jack Oil plc said it had achieved material net revenues of US$8 million since restart of production in August 2021 from the Wressle hydrocarbon joint venture in North Lincolnshire. JOINT VENTURE Union Jack holds a 40% economic interest in the development which lies within licences PEDL180 and PEDL182. Partners include operator Egdon Resources plc […]
Serica rejects second Kistos merger offer
Serica Energy plc has rejected a new revised cash and share merger offer from Kistos plc for its assets in the North Sea. OFFER Two weeks ago, the exploration and production company rejected the smaller company’s first offer. Kistos revised proposal offers 425 pence per Serica share and is an 11% increase to Serica shareholders […]
Kavango concept report confirms economic viability of GRS in KSZ
Kavango Resources plc said that a concept report confirmed the economic viability of the iron oxide copper-gold (IOCG) target at the Great Red Spot (GRS) in the northern (Hukuntsi) section of the Kalahari Suture Zone KSZ), Botswana. IOCG SYSTEMS The exploration company added that the IOCG target exhibited similar geophysical signatures to the Olympic Dam […]