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 the original long stop date of 3 January for the payment the deadline has been extended to 31 March 2025.
Capricorn added it was considering all options to recover the overdue payment.
The company, under its then name of Cairn Energy, previously said that the acquisition allowed it to maintain a presence in the UK North Sea.