Ascent Resources plc is seeking legal advice after its Petišovci gas joint venture partner, and subject of an arbitration tribunal, began insolvency proceedings in Slovenia. CHALLENGES In October, the tribunal confirmed Ascent’s entitlement to proceeds above the baseline production profile from all wells in the concession area. Following partner Geoenergo d.o.o.’s move towards insolvency proceedings, […]
Tag: gas
Scirocco completes sale of 25% legacy interest in Ruvuma
Scirocco Energy plc has completed the sale of its 25% legacy interest in the Ruvuma onshore gas project in Tanzania. The company said that purchaser ARA Petroleum Tanzania had paid the balance of $2.54 million. Future contingent payments will depend on Ruvuma’s development. The investment was originally made by Solo Oil plc, from which Scirocco […]
Scirocco receives approval to sell Ruvuma interest
Scirocco Energy plc has received approval from the Tanzanian Minister of Energy to its 25% interest in the Ruvuma gas asset. With all conditions precedent now satisfied, Scirocco and purchaser ARA Petroleum Tanzania aim to complete the transaction in the coming weeks.
Vermilion completes early turnaround at Corrib
Vermilion Energy Inc has completed a planned major turnaround five days ahead of schedule in the Corrib natural gas field, offshore Ireland. GUIDANCE Corrib is forecast to produce approximately 10,000 boe/d gas net to Vermilion and contribute to the company achieving the upper end of overall Q4 2023 guidance range of 80,000 to 83,000 boe/d. Vermilion holds a […]
Reabold granted more time for Dunrobin-Golspie
Reabold Resources plc has been granted a further two years for the joint venture Innovate licence P2478 containing Dunrobin and Golspie prospects in the northern North Sea. PHASE A The UK North Sea Transition Authority granted the extension to Phase A with a drill decision on or before 14 July 2025. Reabold, with a 36% […]
IOG to investigate Blythe H2 constrained flow rates
IOG plc will investigate a potential mechanical blockage downhole constraining flow in the Blythe H2 development well in the southern North Sea. ISSUES Remedial downhole equipment will be mobilised in the coming weeks and run in the well with the rig alongside, with H2 well shut in during these operations. The news follows gas […]