Lower oil prices, investment and taxes saw Star Energy Group plc half-year profits plummet and revenue fall from its onshore oil and gas operations. EXPENSES Results to 30 June 2023 showed the group, formerly IGas Energy, net production average rise to 2,071 boepd (H1 2022: 1,865 boepd), with the forecast unchanged at around 2,000 boepd for […]
Tag: company results
CAML begins exploration in Kazakhstan
Central Asia Metals plc has created a “solid platform for growth” from its cash holding of $50.6 million from copper-lead-zinc operations in Kazakhstan and North Macedonia. FINANCES In its half-year results, the company said it had started early-stage exploration in Kazakhstan with Terra Exploration and in 2023 expects to complete the Kounrad solar power plant. Group […]
Tullow narrows guidance ahead of ‘harvesting mode’
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 […]
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: […]