EnQuest plc said full year production would be slightly lower than guidance after Magnus was shut in following an unplanned outage at the Ninian central platform. INVESTMENT The company led a short dive support vessel campaign in early November to inspect and repair the subsea hydraulic system. Production at the field has now returned to […]
Oil & Gas
UKOG raises £500,000 via placing
UK Oil & Gas plc has raised £500,000 via a placing of 2 billion new ordinary shares at a 26% discounted price of 0.025 pence per share. The company also intends to hold on the same terms a retail offer for shares of £0.000001 each, due to close on 22 November. Following admission of the […]
Corcel signs option for IRAI gas field
Corcel plc has marked its first onshore Brazilian acquisition with a binding option for a 20% interest in the IRAI gas field in Bahia, with first right of refusal on the remaining 80%. ABUNDANT The agreement with Petroborn Óleo e Gás S.A. also includes a further first right of refusal for 100% of the adjacent […]
Corcel appoints new chairman and COO
Corcel plc has appointed current independent non-executive director Pradeep Kabra as chairman. He replaces interim postholder Andrew Fairclough who will continue as independent non-executive director on the board and chair of the audit committee. Both first became Corcel directors in December 2023. “I want to express my gratitude to Andrew for his leadership and guidance […]
Helium One to drill at Galactica-Pegasus
Helium One Global Ltd plans to drill five additional wells this quarter at the Galactica-Pegasus project in Las Animas County, Colorado, USA. PARTNERS The company is farming into the project operated by Blue Star Helium which has now received permits to start operations. The new wells, comprising Jackson-27 SWSE, Jackson-31 SENW, Jackson-29 SWNW, Jackson-2 L4 and Jackson-4 […]
Deltic JV prepares for second Selene licence term
Deltic Energy plc said its partner and operator Shell UK Ltd had recommended entering the second term of licence P2437, containing the Selene gas discovery. FID Along with Dana Petroleum (E&P) Ltd, the joint venture will agree a low-cost work programme and timeline with the North Sea Transition Authority before a potential final investment decision. With […]