Hurricane Energy plc oil production fell by 700 barrels during Q3 2020 compared with the previous quarter as production came from just one well in the Lancaster field on the Rona Ridge, west of Shetland. PRODUCTION During Q3, production was at an average rate of 13,600 bopd, lower than the 14,300 bopd average rate in […]
Oil & Gas
Premier Oil planned deal with Chrysaor clears $2.7bn debt
Premier Oil is to be sold to Chrysaor in a reverse takeover which would solve the independent UK upstream company’s existing $2.7bn debt. The new company would have a combined production of over 250 kboepd (30 June 2020), combined 2020 H1 revenue of $1.76bn and H1 EBITDAX of $1.27bn, and operating costs of $10.5/boe in […]
Rathlin starts West Newton B-1 main borehole drilling
Rathlin Energy (UK) Ltd has started drilling at the onshore West Newton B-1 (WNB-1) well, following the West Newton A-2 (WNA-2) appraisal well (PEDL183), in East Yorkshire. The site operator will use a Drillmec HH 220 drilling rig to drill a borehole to an approximate depth of 2,000 metres and take six to ten weeks […]
UKOG raises £2.2m to fund Turkish Resan oil project
UK Oil & Gas plc said it has raised £2.2million to fund its share of initial drilling and seismic costs for the Turkish Resan oil project. UKOG announced on 23 July 2020 that it had signed a binding heads of agreement with Aladdin Middle East Ltd (AME) to take a 50% interest in the oil […]
UKOG soon to resume oil production at Horse Hill
UK Oil & Gas plc (UKOG) expects to resume oil production soon following the arrival of a small workover rig at the company’s Horse Hill site north of Gatwick. Planned routine intervention operations at UKOG 85.635% owned Horse Hill-1 well have also started. The short intervention aims to optimise oil flow via reperforating the full […]
Block to start Georgia gas sales before year end
Block Energy plc expects to complete its gas sales pipeline this year and start sales from its projects in Georgia. FINANCES Block’s three current licences are West Rustavi (100% working interest), Norio (100%), and Satshenisi (90%). In its interim results for six months ended 30 June 2020, the company reported revenue from oil sales of $313,000 (2019: […]