Orcadian Energy plc has agreed to sell 50% of the ordinary shares of HALO Offshore UK Ltd to Independent Power Corporation plc. COSTS IPC founder and chief executive Peter Earl as well as Mark Preece will join directors Alan Hume and Steve Brown, who is also Orcadian CEO, on the HALO board. Both companies aim […]
Tag: oil and gas
Poor weather delays Galactica-Pegasus drilling
Helium One Global Ltd’s partner has deferred drilling at the Galactica-Pegasus helium project because of saturated ground caused by poor weather. COSTS The company holds a 50-50 joint venture with operator Blue Star Helium in the Las Animas County project, Colorado. Ground conditions and snow melt prevented construction of well sites and access roads, but the […]
Orcadian welcomes new Fynn Beauly partner
Orcadian Energy plc has welcomed its new partner for licence P2634, containing the Fynn Beauly oil discovery, in which the company holds a 50% interest. SCALE Serica Energy plc agreed the acquisition from The Parkmead Group’s UK and Netherlands exploration assets sale. The “very substantial viscous and heavy oil discovery” has a gross P50 contingent […]
Orcadian agrees 50% sale of Earlham-Orwell
Orcadian Energy plc has provisionally agreed to a 50% farm-out for $2.2 million of a sub-area of the licence P2680, including the Earlham and Orwell prospects, in the southern North Sea. DEBT Purchaser Marine Low Carbon Power Company Ltd, owned by IPCNWE and Richmond Offshore Energy Ltd, will become the operator on regulatory approval of […]
Reabold increases stake in West Newton
Reabold Resources plc has invested a further 20.4% of shares for £700,000 in the operator of the onshore West Newton development, Rathlin Energy (UK) Ltd. SIDETRACK The acquisition from Rathlin’s owner Calgary-based Connaught Oil & Gas Ltd will result in Reabold holding a 69.9% economic interest in PEDL183 via its 79.8% shareholding in Rathlin. Rathin […]
Tullow in all-share offer talks with Kosmos
Tullow Oil plc said it was in preliminary discussions regarding a possible all-share offer for the company by Dallas-based Kosmos Energy Ltd. ASSETS The American company has until 5pm on 9 January 2025 either to announce whether or not it intends to make an offer. The deadline can be extended with the consent of the […]