Serica Energy plc said the new completion equipment had been installed and a flow test performed at Rhum R3 well in the North Sea. CONSTRAINT The company added that a stabilised flow rate of 58.4mmscf/d of gas and 135bbls/d of condensate had been achieved. The rate was constrained by the surface well test equipment on […]
Tag: oil and gas
EnQuest borrows $750m for Golden Eagle
EnQuest plc has signed a new senior secured borrowing base debt facility for $750 million (£531 million) to refinance the Golden Eagle acquisition in the Central North Sea. The new facility is for $600 million with an additional $150 million for letters of credit for up to seven years. EnQuest said it would allow the […]
Hurricane sets date for vote on board directors
Hurricane Energy plc said that an extraordinary general meeting for shareholders will be held on 5 July to consider the removal and appointment of its board directors. The announcement follows a requisition notice served in May by activist investor Crystal Amber Fund Ltd (14.32%), requiring that Hurricane convenes a general meeting to discuss and vote […]
Predator raises £1.5m via placing
Predator Oil & Gas Holdings plc raised £1,500,000 before expenses after conditionally placing 10,000,000 new ordinary shares at a placing price of 15 pence each. The company said that the placing was significantly oversubscribed.
VOG receives $5.1m from invoices to boost Doula projects
Victoria Oil & Gas plc (VOG)’s said it had received US$5.1 million from outstanding invoices, which will strengthen its working capital for its projects in port city of Doula, Cameroon. The company’s subsidiary, Gaz du Cameroun (GDC) agreement is with Eneo and related to take-or-pay invoices for October, November and December 2019 plus associated interest. VOG […]
Hurricane at risk without shorter FPSO charter
Hurricane Energy plc said it needed a shorter charter for the Aoka Mizu FPSO than initially agreed to avoid winding down and halting operations at the Lancaster field. COSTS The three-year initial term of the charter expires in June 2022 unless the oil and gas company meets the 4 June deadline to extend for three years […]