Capricorn Energy plc has engaged English and Norwegian counsel after its Columbus field partner Waldorf UK plc announced plans to restructure. ADMINISTRATION The company is awaiting the overdue final US$22.5 million settlement payment relating to the UK central North Sea asset. Capricorn today said: “Under Waldorf’s plan, certain amendments will be made to the terms […]
Tag: Capricorn Energy plc
Capricorn receives $50m from Sangomar sale
Capricorn Energy plc said it had received the $50 million payment due from Woodside Energy relating to the sale of its production sharing contract interests in the Sangomar oil field, Senegal. FOCUS The company aims to return any available proceeds of the contingent payment to its shareholders, which is subject to any disputed tax obligations […]
Capricorn awaits delayed Columbus payment
Capricorn Energy plc said it was still awaiting the final US$22.5 million settlement payment relating to the Columbus field from Waldorf Production UK plc. EXTENSION The company acquired a non-operated 25% interest in the field when it sold its interests in the Catcher and Kraken fields under revised term in December 2023. After Waldorf missed […]
Capricorn expects $50m from Sangomar
Capricorn Energy plc expects $50 million in January 2025 from the sale of its production sharing contract (PSC) interests in the Sangomar oil field, Senegal. TAX With all the terms and conditions satisfied of the agreement, purchaser Woodside Energy has until 22 January to make the payment. Capricorn added it remained committed to returning available […]
Sangomar production meets PSC sale terms
Capricorn Energy plc said that at least 30 days’ continuous production on the Sangomar oil field had met the production condition relating to the sale of its interest in the PSC. TAX The company was informed by operator Woodside Energy plc which began production on 10 June, offshore Senegal. Capricorn added that Woodside, as recipient […]
Capricorn NED Hesham Mekawi steps down
Capricorn Energy plc independent non-executive director Hesham Mekawi has stepped down from the board, with immediate effect. Mr Mekawi joined the board in February 2023 under its then new management and appointed as deputy chairman in June of the same year. Non-executive chair Maria Gordon said: “I would like to thank Hesham for his contribution […]