Hurricane Energy plc recorded a surge in post-tax profits from a “challenging and highly successful” year at its Lancaster field operations, west of Shetland. FINANCES Full-year results for the year ended 31 December 2022 showed company revenues increased to $310.8 million from six liftings of Lancaster crude (2021: $240.5m from seven liftings). Profit after tax for the period amounted to […]
Tag: oil & gas
Prospex Energy raises £1.87m through loan notes
Prospex Energy plc has raised £1.87 million via the issue of unsecured convertible loan notes to further the Selva gas discovery (37%) on the Podere Gallina permit in the Po Valley, Italy. TERMS A total of 27 individual subscribers include all four current directors and one former director of the company. The loan notes are […]
Hurricane clears final debts and looks to growth
Hurricane Energy plc has paid in full its outstanding debt of $78,515,000 of convertible bonds plus $1.5 million accrued interest. OIL PRICES Chief executive Antony Maris described the repayment as a key milestone as the company moves into a new phase focused on building a long-term future. “The excellent operational performance of the Lancaster field, […]
UKOG granted additional year for Horse Hill work programme
UK Oil & Gas plc (UKOG) said it had been granted a one-year extension to the agreed retention area work programme at Horse Hill oil field and its underlying Kimmeridge oil pool. DEADLINE The North Sea Transition Authority granted the extension for PEDL137 licence, allowing the company to drill a second Horse Hill Kimmeridge well, […]
Reabold to acquire six North Sea licences from Corallian
Reabold Resources plc has conditionally acquired six exploration and appraisal licences for £250,000 from Corallian Energy Ltd, which is itself under offer for a potential sale. CORALLIAN ENERGY LTD Private UK oil and gas company Corallian has interests in the West of Shetland, Central Graben, Inner Moray Firth and Viking Graben basins Upstream oil & […]
IOG notes stable production at Blythe-Elgood
IOG plc reported stable oil and gas production from its operations at the Saturn Banks infrastructure in the UK Southern North Sea. PHASE I The company is in Phase I of the project, which started production in March 2022, to commercialise the Blythe, Elgood and Southwark gas fields. BLYTHE & ELGOOD IOG said that stable […]