Jersey Oil & Gas (JOG) has paid $850,000 in a settlement with TGS-Nopec Geophysical Company (TGS). The payment leaves the North Sea hydrocarbon exploration and production company with some £5 million at the end of December 2020. TGS had wanted uplift payments from JOG of $1.05million, which was disputed by the company. The money is […]
Tag: North Sea
JOG identifies 222MMboe and new North Sea prospect
Jersey Oil and Gas (JOG) said that an average of 222 million barrels of oil and a “significant” new prospect in its North Sea acreage have been identified in a comprehensive subsurface evaluation. The upstream hydrocarbon company, which added a further 12% to its offshore licence areas in November, said that the amount of oil […]
EnQuest expects 2020 output below guidance range
EnQuest plc today said it expected full year production for 2020 to be below its guidance range for its operations in the UK and Malaysia. Group production averaged 60,777 boepd in the ten months to end October 2020, with full year production guidance expected to be slightly below the mid-point between 57,000 to 63,000 boepd. […]
EnQuest reports losses and reorganises North Sea operations
EnQuest’s revenue nearly halved for the first six months of 2020 compared with the same period last year but production losses were minimised. Th group also decided not to restart production at the Heather/Broom and Thistle/Deveron fields, and to reorganise its UK North Sea business into three directorates of upstream, midstream and decommissioning leading to a […]
Egdon completes North Sea gas farm-in with Shell
Egdon Resources plc (AIM:EDR) has sealed the farm-in agreement with Shell in respect of offshore North Sea licences P1929 and P2304 containing the Resolution and Endeavour gas discoveries. The Oil and Gas Authority (OGA) approved the transfer of a 70% interest and operatorship in both licences, and Egdon retains a 30% interest in the licences. […]
EnQuest to cut more than 500 North Sea jobs
EnQuest announced it will make 530 redundancies in its North Sea operation to make savings of £241million ($300m) following the slump in demand and in oil prices. The industry’s body Oil and Gas UK has warned that it expected as many as 30,000 job losses across all companies to go as a result of the […]