Hurricane Energy plc said investment allowances could offset its forecast £5 million bill under the new energy profits levy (EPL) from its operations at the Lancaster field, west of Shetland. ENERGY PROFITS LEVY In its monthly financial and operational report of 31 May 2022, the company added it was unable to determine the full impact […]
Tag: North Sea
Orcadian signs data deal with TGS
Orcadian Energy plc has signed a seismic licensing deal with the energy data company TGS for its North Sea licences. AGREEMENT The agreement will give Orcadian high quality seismic data, revealing the reservoir structures and likely fluid type. Data will be used to evaluate the “multitude of development opportunities and prospects”. The company added that […]
Serica increases May 2022 production and cash reserves
Serica Energy plc announced strong production and cash position for May 2022 from its gas operations in the UK North Sea. OPERATIONS More than 85% of Serica’s production is gas and its operated North Sea assets provide more than 5% of the UK’s gas production. The month of May saw net production average in excess […]
Hurricane Energy exits Greater Warwick Area
Hurricane Energy plc has decided to relinquish its interests in the Greater Warwick Area (GWA) joint venture (JV) with Spirit Energy plc in the UK North Sea. DISCUSSIONS The company said that the JV had reassessed its understanding of the area and considered all options for further appraisal and routes to possible development. “Hurricane has […]
Neptune to invest $1bn to secure UK energy
Neptune Energy today said it would spend more than $1 billion (£800m) over the next five years to secure energy supplies for the UK and speed the transition to net zero. CARBON INTENSITY The company operates around 11% of the country’s gas supply from fields in the UK’s Southern North Sea and the Norwegian North […]
Deltic nears first exploration drill
Deltic Energy plc is marking 2021 as a year of achievement and progress ahead of drilling the first exploration well in its Southern and Central North Sea portfolio. AGREEMENTS For its audited results for the year ended 31 December 2021, the company confirmed its first exploration well on the Pensacola prospect (licence P2252). The rig selection […]