Kistos Holdings plc expects “sub-commercial” gas from a discovery from the Benriach exploration well in the Greater Laggan Area, west of Shetland. VOLUMES Kistos holds a 25% non-operated working interest in licence P2411 with operator TotalEnergies (50%) and Rockrose Energy (25%). The Transocean Barents rig mobilised from Olen and spud the well on 21 March, reaching […]
Tag: Kistos Holdings plc
Kistos profits rise as projects review continues
Kistos Holdings plc’s increase in profits has failed to deter the company from reviewing opportunities outside the UK and Netherlands to avoid “unstable fiscal regimes”. FINANCES Full year 2022 results showed operating profits of €276.3 million (2021: loss of €62.8m) and pre-tax profits of €254.1m (2021: loss before tax of €73.9m). Taxes of €228m, which […]
Kistos completes Mime assets acquisition
Kistos Holdings plc has completed its US$111 million acquisition of all the outstanding shares of Mime Petroleum A.S. with assets in the Norwegian Continental Shelf. OBJECTIVES The company said that the purchase adds 24 MMboe of 2P reserves at Balder and Ringhorne, based on the operator’s estimate. An additional 30 MMboe of 2C resources are […]
Kistos turns from ‘difficult’ UK to Norway
Kistos Holdings plc plans to expand into the Norwegian Continental Shelf with a conditional agreement to acquire Mime Petroleum A.S. BALDER – RINGHORNE Executive chairman Andrew Austin said that commodity price volatility and fiscal uncertainty had made it difficult to agree deals in the UK and the Netherlands. “I expect Mime to be a platform […]
Kistos spuds Benriach exploration oil well
Kistos Holdings plc reported progress on its drilling activities offshore United Kingdom and Netherlands. BENRIACH The Benriach exploration well, on block 206/05c (Kistos 25%) West of Shetland has been spudded by the Transocean Barents. Kistos said that operator TotalEnergies E&P UK estimated it was targeting P50 prospective resources of 638 bcf (160 bcf or 28mmboe […]
Kistos to drill Benriach well in Q2
Kistos Holdings plc has signed a rig contract to drill during Q2 the joint venture Benriach well in the Greater Laggan Area (GLA), west of Shetland. GREATER LAGGAN AREA The GLA includes producing subsea gas fields of Laggan, Tormore, Glenlivet and Edradour tied back via a 143km flowline system to the Shetland Gas Plant (SGP) […]