Block Energy plc said it had a “robust start” to the year from its onshore oil and gas operations in West Rustavi, Georgia. OPERATIONS For the three months ended 31 March 2023, the company produced 36 Mboe (Q4 2022: 34.4 Mboe) or an average of 400 boepd (Q4: 374 boepd). Th total comprised 26.8 Mbbls of oil […]
Tag: company results
Serica Energy’s profits boosted by investment in North Sea assets
Serica Energy plc said increased production from 2021 investment and higher gas prices had resulted in higher profits from its offshore oil and gas operations in the North Sea. FINANCES For the year ended 2022, the company generated profit before tax of £488.2 million for 2022 (2021: £135.1m). After current and deferred tax provisions of […]
UKOG records £2.9m impairment from Horse Hill-1
UK Oil & Gas plc (UKOG) recorded an impairment of £2.9 million of the Horse Hill-1 oil well near Gatwick Airport in Surrey. HORSE HILL The company’s annual review and accounts for the year ended 30 September 2022 states: “Following an impairment review carried out as at 30 September 2022, the net present value of […]
IGas Energy seeks near-term projects
IGas Energy plc aims to seek near-term profitable production projects and has abandoned plans to take legal action against the Government following last year’s reimposed moratorium on hydraulic fracturing. SHALE GAS The company said its portfolio of shale licences totalled 292,100 net acres with estimated mean volumes of undiscovered GIIP of 93 tcf. In its […]
Orcadian focuses on funding and farm-in for Pilot
Orcadian Energy plc said its main aim for 2023 was to find a partner and new investors to develop the Pilot oil field in the central North Sea. FINANCES In its unaudited results for H1 2022, the company added it planned to improve the technical and commercial definition of Pilot’s development as well as maximise […]
Scotgold rise in revenues offset by increased loss and debt
Scotgold Resources Ltd’s increase in revenues were dented by a rise in pre-tax losses and debt at Cononish gold and silver mine, near Tyndrum in Scotland. FINANCES The company’s interim results for the six months ended 31 December 2022 showed total revenues of A$9.5 million (H1 2022: A$6.4m) Loss before taxation was A$9.5m (H1 2022: […]