Tullow Oil plc said it was preparing to reap from its investments as its six-month profits halved and full-year guidance narrowed. FINANCES The group posted revenue of $777m (H1 2022: $859m) from falling oil prices despite an increase in sale to 56,900 boepd (53,500 boepd). Pre-tax profit from continuing activities decreased to $217m ($561m) The […]
Tag: company results
Union Jack looks overseas to cut risks to UK assets
Union Jack Oil plc is investigating international oil and gas opportunities to lessen future risk in its UK projects. STRATEGY In its half year report, the company said that there were still “several rich pickings” in onshore domestic oil and gas but that the regulatory process was “painfully slow”. “Over the past year we have […]
i3 Energy looks to growth from volatile prices
i3 Energy plc said that unstable prices had created possible merger and acquisition opportunities after the company posted a rise in production and decrease in revenue. PERFORMANCE In the first six months of the year, revenue totalled $75.5m (H1 2022: $101.6m) from its operations in Canada. The company averaged 20,640 boepd (H1 2022: 18,950) following […]
Harbour swings to $8m loss
Harbour Energy plc swung to loss during the first six months of the year following high taxes and falling commodity prices. FINANCES Results for H1 2023 show profit before tax of $0.4 billion (H1 2022: $1.5bn) and loss after tax of $8 million (H1 2022: profit of $1bn). Revenue decreased to $1,991 million (H1 2022: […]
Deltic marks ‘transformational’ six months
Deltic Energy plc continues to hold a strong balance sheet after a “transformational” first half year from the major hydrocarbon discovery in the Pensacola licence. FINANCES Results for the the six months of 2023 show that the company began the year with £20.4 million cash and ended the period with £9.1m following planned investment of £10m […]
Hummingbird has strong first half at Yanofila
Hummingbird Resources plc has reversed its fortunes with strong first half production from Yanfolila gold mine in southern Mali. PRODUCTION The company’s Q2 2023 operational and trading report showed an increase to 23,885 oz gold produced in Q2 2023 (Q2 2023: 20,013 oz). Total H1 2023 gold produced reached 51,147 oz (H1 2022: 35,561 oz). […]