Hartshead Resources NL, which in April reduced its workforce, has won six new oil and gas licences covering 10 blocks in the southern North Sea.
ACREAGE
The Australian company has accepted three licences and is awaiting grant of a further three from the North Sea Transition Authority’s 33rd licensing round.
Five licences consisting of nine blocks are in the Southern gas basin, with two licences comprising three blocks adjacent to the existing P2607 licence.
Hartshead said that all the blocks contained either gas field re-developments or undeveloped gas fields.
The new and existing licences combined will give the company net interest of 1.5 tcf of reserves and contingent and prospective resources.
“Hartshead is now a significant acreage holder in the Southern North Sea and additionally has a single licence and acreage in a new area of interest, the East Irish Sea,” added chief executive Chris Lewis.
“The number and variety of high quality resource opportunities now present in our portfolio is both exciting and encouraging. I look forward to seeing the results of the team’s work on the new portfolio over the coming months.”
Hartshead holds a 40% interest in P2607 after farming out 60% to Viaro Energy Ltd’s subsidiary, RockRose Energy Ltd.
In December 2023 it agreed a sale option for a further 20%.
Earlier this month the company said it was awaiting further clarity on the energy profits levy.