Hartshead Resources NL, which in April reduced its workforce, has won six new oil and gas licences covering 10 blocks in the southern North Sea. ACREAGE The Australian company has accepted three licences and is awaiting grant of a further three from the North Sea Transition Authority’s 33rd licensing round. Five licences consisting of nine […]
Tag: Hartshead Resources NL
Hartshead increases acreage with 10 blocks
Hartshead Resources NL has increased its licences with the award of 10 blocks in the 33rd licensing round. PORTFOLIO The blocks contain discovered hydrocarbons with a range of re-development, development and appraisal opportunities, as well as multiple near field exploration openings. The North Sea Transition Authority offered field redevelopments in 50% partnership with Dutch developer […]
Hartshead reduces workforce
Hartshead Resources NL has cut its workforce as it begins infrastructure funding talks that could “significantly” reduce its upfront phase I spending on the Anning-Somerville gas development. REGRETTABLE The company, already in negotiations for financing, said it could move initial capital expenditure into operating expenditure “via a tariff payable in respect of third party infrastructure […]
Anning-Somerville under review after EPL concerns
Hartshead Resources NL is reviewing the economics and timeline for phase 1 development of the Anning and Somerville gas fields following plans to increase UK oil and gas taxes. UNCERTAINTY The Labour Party said it could raise more than £13 billion by increasing the Energy Profits Levy from 35% to 38%, leading to the headline […]
Hartshead could sell further 20% of Anning-Somerville
Hartshead Resources NL has agreed an option to sell a further 20% in its licence P2607, in return for an uncapped free carry of gross costs for phase I project development. DE-RISKING The Australian company completed the original 60% farm-out deal in May with Viaro Energy Ltd’s subsidiary, RockRose Energy Ltd. Three months later it […]
Hartshead appoints Bevan Tarratt as chairman
Hartshead Resources NL has appointed non-executive chairman Bevan Tarratt as executive chairman, effective from 1 December. Mr Tarratt, who will be paid £1,000 per day exclusive of superannuation, has a background in corporate and financial services industries having worked for accounting and corporate broking firms for the past 15 years. Experienced in the recapitalisation, restructuring […]