Company Moves News Oil & Gas

Capricorn to nominate Patrice Merrin as NED

Capricorn Energy plc intends to nominate Patrice E. Merrin as an independent non-executive director (NED) for election at the company’s general meeting on 26 June 2023. Ms Merrin has significant experience across the energy, resources and commodity sectors. She is due to retire at the end of May after nine years as independent NED from Glencore […]

News Oil & Gas

Capricorn to start $25m share buyback

Capricorn Energy plc said it planned to buy back shares in the company for up to a maximum total of US$25 million. CAPITAL REDUCTION The company expects the repurchase programme, managed by Merrill Lynch International, to start immediately and complete by no later than 30 April 2024. The scheme aims to reduce the capital of […]

Finance News Oil & Gas

Capricorn to return $575m to shareholders

Capricorn Energy plc has committed to returning some US$575 million excess cash flow to shareholders. ACTIONS The company said the funds, due over the coming 12 months, were not needed for its future operational focus. A total $100m depends on negotiations with stakeholders and licence extensions in Egypt, actual oil and gas prices and the […]

Company Moves News Oil & Gas

Capricorn appoints Randy Neely as CEO

Capricorn Energy plc will appoint Randy Neely as its new chief executive officer from 1 June 2023. Mr Neely is the former president and CEO of Egypt-focused operator TransGlobe Energy Corporation with operations in the Eastern and Western Deserts. He has more than 25 years’ industry experience in executive and financial roles, including chief financial […]

Company Moves News Oil & Gas

Two Capricorn NEDs decline re-election

Capricorn Energy plc non-executive directors Erik B. Daugbjerg and Catherine Krajicek will not seek re-election at the company’s next general meeting. Both were sitting NEDs while the company underwent a change of management following the failed NewMed merger. Mr Daugbjerg and Ms Krajicek will retire immediately following the meeting on 20 June 2023. “On behalf of […]

News Oil & Gas

Capricorn plans fewer than 40 posts in the UK

Capricorn Energy plc today said that it aimed for a “substantially reduced headcount” in the United Kingdom allowing it to focus on its onshore oil assets in Egypt. REDUNDANCY PROCESS The news comes as the Edinburgh-based company’s new management starts a comprehensive strategic review of its business and the “several potential directions” for its future. […]