EnQuest plc said full year production would be slightly lower than guidance after Magnus was shut in following an unplanned outage at the Ninian central platform. INVESTMENT The company led a short dive support vessel campaign in early November to inspect and repair the subsea hydraulic system. Production at the field has now returned to […]
Tag: Kraken heavy oil field
EnQuest agrees £46m sale of Bressay interest
EnQuest plc has agreed a £46 million sale of a 15% working interest in the North Sea Bressay field and its producer FPSO* to RockRose UKCS 10 Ltd. PRODUCTION RockRose, subsidiary of Viaro Energy, will pay an initial £34.75m and the remaining £11.25m from future Bressay cash flows. RockRose will pay its equity share of […]
Capricorn agrees Catcher-Kraken sale payments
Capricorn Energy plc has agreed the final settlement of payment terms from the sale of its previous assets in the Catcher and Kraken fields to Waldorf Production UK plc. CASH FLOWS Under revised terms, Capricorn will now receive $72.5 million over the next 13 months and Waldorf’s 25% non-operated working interest in the Columbus gas […]
EnQuest production at top end of guidance
EnQuest plc reported strong operational performance for the first quarter of the year with production at the top end of guidance range for 2023. INTEGRITY Average group production was 47,725 boepd, based upon strong “uptime” across the company’s portfolio. Magnus well work programme for 2023 has started, with three wells returned to service following P […]
Cairn shareholders approve Catcher-Kraken sale
Cairn Energy plc has received shareholder approval for the US$460 million sale of its Catcher and Kraken interests in the North Sea. The deal involves Cairn’s interest of 20% in Catcher and 29.5% in Kraken to Norwegian company Waldorf Production Ltd. The company’s shareholders voted on the proposal at a general meeting on 28 October.
Cairn to sell Catcher-Kraken interests
Cairn Energy plc has agreed to sell its North Sea interests in the Catcher and Kraken fields for US$460 million to Norwegian company Waldorf Production Ltd. GOALS The agreement includes additional contingent consideration dependent on oil prices from 2021 to the end of 2025. The sale, subject to shareholder approval, involves Cairn’s interest of 20% […]