News Oil & Gas

Deltic JV completes 3D seismic on Cupertino Area

Deltic Energy plc announced that its partner Cairn Energy plc had completed the 3D seismic survey over licence P2428 (Cupertino Area) and surrounding areas in the Southern North Sea. DATA Sub-contractor ION Geophysical began the 3D seismic survey on 10 September 2021, covering approximately 680km2, and completed it on 21 November. Data collected will now […]

News Oil & Gas

Cairn starts buyback following Indian tax refund

Cairn Energy plc announced it had initiated a buyback programme of up to £20 million of its ordinary shares. PERIOD This will be prior to the anticipated larger buyback programme following receipt of the Indian tax refund. The company added that Morgan Stanley would handle the programme beginning today (15 November) and ending no later […]

Finance News Oil & Gas

Deltic completes farm-out with Cairn

Deltic Energy plc has completed the farm-out of five of its southern North Sea gas licences with Cairn Energy plc. SEISMIC Both companies have received approval from the Oil and Gas Authority and entered into joint operating agreements for licences. The agreement, through Cairn’s wholly owned subsidiary Nautical Petroleum Ltd, was first announced in August […]

Legal News Oil & Gas

Cairn uses new scheme for $1.06bn tax refund from India

Cairn Energy plc said it would start filing documents under a new scheme for the refund of US$1.06bn taxes from the Indian government. LEGISLATION The company added it had entered into undertakings with the government to participate in the scheme introduced by recent Indian legislation, the Taxation Laws (Amendment) Bill 2021. This allows the refund […]