The joint venture partners have ended the current phase of operations ahead of flow testing the West Newton B-1Z (WNB-1Z) sidetrack well near Hull in East Yorkshire. During December 2020, WNB-1Z encountered a gross 62 metre thick hydrocarbon bearing reservoir interval in the primary Kirkham Abbey target formation. The JV today said that the cased […]
Oil & Gas
Hurricane notes slight fall in oil production at Lancaster
Hurricane Energy plc announced a slight decrease in oil rate and production from its Lancaster field on the Rona Ridge, west of Shetland. FINANCES In a brief report for the first quarter of 2021, the company also recorded net free cash of $127 million compared with $106m at 31 December 2020. LANCASTER EPS Production during Q1 […]
Deltic makes technical progresses on gas licences
Deltic Energy plc remained debt free during 2020 while making technical progress with its gas licences in the southern and central North Sea. OPERATIONS Results ended 31 December 2020 showed a decrease in the company’s cash position to £12m (2019: £13.8m). The company’s intangible assets rose to £1,430,915 (2019: £1,127,942) reflecting the development of its exploration portfolio. Work […]
UKOG looks to diversify after swing to a loss
UK Oil & Gas plc incurred heavy losses due to lost time, extra operational work and relinquishment of a licence from its onshore operations in the South of England. The company also announced its aim to diversify into geothermal and renewable energy and add international sites, with easier regulatory requirements than the UK, to its […]
Serica cuts flare volumes by 45%
Serica Energy plc continued with its environment, social and governance (ESG) targets as it achieved a reduction of flaring and emissions at its North Sea operations during 2020. The company said it was intent on building a portfolio of assets which would make a positive contribution to the Net Zero transition and reduce carbon intensity. […]
Serica 2020 profits plunged but operations continued
Serica Energy plc’s pre-tax profits for 2020 plummeted due to low oil prices and Bruce caisson shut-in but the company managed to continue operations. No Covid-19 cases or injuries were recorded and the company avoided furloughing staff and government assistance programmes. Serica also continued to make progress with its environment, social and governance policies with […]