United Oil & Gas plc announced it expected to exceed the previous guidance of 2,300 boepd when the company starts drilling at its joint venture Abu Sennan licence, onshore Egypt. DRILL CAMPAIGN The company said it had awarded an EDC-50 rig contract with low-cost rig rates linked to oil prices. The rig is due to […]
Tag: oil and gas
Deltic awarded six licences of 12 new blocks
Deltic Energy plc has been formally awarded six licences comprising 12 new blocks in the UK’s 32nd offshore licensing round. SEISMIC All the licences are on a 100% equity position, except P2558, which is jointly awarded with Shell UK holding a 70% working interest. Deltic said the awards reinforced its strategy of creating a steady ‘conveyor […]
UKOG looks to appeal against Loxley refusal
UK Oil & Gas plc said it would likely appeal against Surrey County Council’s refusal to grant permission for gas appraisal at its PEDL234 licence in Loxley. ISSUES The council’s planning committee ruled against officers’ recommendations to approve the company’s 100% owned Portland gas appraisal project. UKOG said that all issues concerning planning, environmental and […]
Parkmead remains “robust” despite gas revenue losses
The Parkmead Group plc reported a loss in revenue and profits but an increase in assets in its preliminary results for the year ended 30 June 2020. FINANCES Revenue halved for the period to £4.1m (2019: £8.3m) and gross profit fell to £1.3m (2019: £5.7m). Pre-tax profits before tax and non-cash impairment charges were £0.8m. […]
JOG conditionally acquires Verbier oil discovery
Jersey Oil & Gas (JOG) plans to add a further 12% to its central North Sea interests with the acquisition of licence P2170 blocks 20/5b & 21/1d containing the Verbier oil discovery. ACREAGE The agreement sees the company acquire the entire issued share capital of CIECO V&C (UK) Ltd, owned by ITOCHU Corporation and Japan […]
Deltic identifies three gas targets in Cupertino
Deltic Energy plc has identified around 904 bcf in the P50 estimate of potential gas over three targets in its southern North Sea licence P2428, containing the Cupertino prospect. PARTNER The company, which is seeking suitable partners to develop the prospects, said that the prospective resources range from 205bcf in the P90 estimate to 2.97 […]