Serica Energy plc has lowered full year production forecast after an “issue” with the Triton floating production storage and offloading (FPSO) vessel suspended its North Sea operations. GAS The company said that the problem was with one of the compressor seals, with repairs expected to take two to four weeks. The outage follows resumption of […]
Tag: North Sea
Deltic cuts costs and looks to invest overseas
Deltic Energy plc plans to cut costs and look for international projects, with an initial focus on early cash flows and faster cycle times, while continuing with its existing UK core assets. SELENE The company said that the “political and fiscal headwinds” had “hampered” the UK’s oil and gas industry in recent years” rendering it […]
Deltic remains committed to UK exploration
Deltic Energy plc remains committed to exploration within the UK despite political and fiscal challenges and uncertainly from the Energy Profits Levy (EPL). PORTFOLIO Chief executive Graham Swindells said that the EPL continued the “attractiveness” of investing in the company’s projects which drew tax relief. “Nonetheless, the existence of the EPL does nothing for investor […]
Parkmead mulls geothermal energy for Fynn Beauly
The Parkmead Group could use geothermal energy instead of injecting hot water to reduce oil viscosity for enhanced recovery in Fynn Beauly in the central North Sea. SUBSTANTIAL The discovery is part of three new offshore blocks 14/15a, 14/20d and 15/11a in a new licence awarded to the operator’s 50-50 joint venture with Orcadian Energy […]
Orcadian awarded North Sea licences with partners
Orcadian Energy plc has been awarded two central North Sea licences, each in separate partnerships, in the 33rd licensing round. STRATEGY The mid-North Sea High licence contains shallow gas prospects and leads with up to 336bcf of gross prospective recoverable resource on a P50 basis, estimated by Orcadian as a guide. The two largest prospects of […]
Deltic marks rise in estimated Pensacola oil and gas
Deltic Energy plc said the estimated oil and gas resources have nearly doubled for the joint venture (JV) Pensacola discovery on licence P2252 in the UK North Sea. ANALYSIS The company’s post-well analysis now estimates the structure to contain gross P50 initially in place volumes of gas and oil of 342 million barrels of oil […]