IOG plc raised £8.5 million through a placing and subscription of 33,800,000 new ordinary shares each at a price of 25 pence with existing and new investors. BOARD AND PDMR Certain directors and persons discharging managerial responsibilities (PDMRs) have entered into direct subscription agreements with the company for a total of 200,000 shares raising approximately […]
Tag: IOG plc
IOG commits to Scope 1 and 2 net zero
IOG plc has completed a comprehensive emissions assessment (EA) which commits the company to Scope 1 and 2 net zero status as of 2021. KEY POINTS The EA was conducted by IOG’s internal environmental, social and governance (ESG) taskforce in collaboration with energy advisor Genesis. The EA encompassed the Phase 1 development and corporate activities. […]
IOG appoints James Chance head of capital markets-ESG
IOG plc has appointed James Chance to a new role of head of capital markets and ESG [environment, social and governance]. Mr Chance has led the company’s ESG work since 2020.
IOG spuds Blythe development well
IOG plc announced it had spud the Blythe development well in the UK Southern North Sea and expected first gas during the fourth quarter of 2021. SCHEDULE The well is the second in the company’s Phase 1 project, following Elgood, and is expected to take under three months to drill and complete before the rig […]
IOG signs gas sales agreement with Gazprom
IOG plc has signed a gas sales agreement (GSA) with Gazprom Marketing & Trading Ltd (GM&T) for its reserves in the UK Southern North Sea. The deal, which encloses a mutual extension option, followed a competitive off-take process involving more than 10 bidders over recent months. AGREEMENT The GSA relates to IOG’s equity production for […]
Elgood flow test exceeds IOG predictions
IOG plc said it had overcome mechanical issues to record a successful flow test at the Elgood gas development well 48/22c-7 in the UK North Sea. The company took longer than expected before intersecting 1,080 ft high-quality Permian Leman Sandstone reservoir along hole between 14,290 ft measured depth (MD) and 15,370 ft MD, with a […]