Orcadian Energy plc has signed a non-binding heads of agreement for a farm-in on its southern North Sea licence containing the Earlham discovery. LOAN The deal also covers a potential redevelopment project to blow down the decommissioned Orwell gas field. The licence holds Earlham with a P50 contingent resource of 114 bcf sales gas, the […]
Tag: Orcadian Energy plc
Orcadian in line for Earlham-Clover
Orcadian Energy plc is in line for a southern North Sea licence, adding to the two central North Sea licences previously awarded in the 33rd licensing round. DEVELOPMENT Licence blocks 49/25b, 50/21a, 49/30a and 50/26 contain the Earlham discovery with a high inerts content and the “exciting” undrilled prospect of Clover. The company said that […]
Orcadian completes 81.24% Pilot farm-out to Ping
Orcadian Energy plc has completed the 81.24% farm-out of central North Sea licence P2244, containing the Pilot oil field, to Malaysian operator Ping Petroleum UK plc. TECHNOLOGY Discovered in 1989, appraisal of Pilot showed “excellent quality reservoir and contains 263MMbbl of a viscous oil”. Orcadian said that Ping, focused on shallow water offshore production and […]
Orcadian agrees new date to repay $1m loan to Shell
Orcadian Energy plc has agreed an extension until 13 June 2024 to pay the US$1 million loan to Shell. AGREEMENTS The original repayment was 23 August 2023 which was twice extended to 13 March 2024. The company said that the new extension allowed time to process the $3.1m sale of a 81.25% interest in its […]
Parkmead mulls geothermal energy for Fynn Beauly
The Parkmead Group could use geothermal energy instead of injecting hot water to reduce oil viscosity for enhanced recovery in Fynn Beauly in the central North Sea. SUBSTANTIAL The discovery is part of three new offshore blocks 14/15a, 14/20d and 15/11a in a new licence awarded to the operator’s 50-50 joint venture with Orcadian Energy […]
Orcadian awarded North Sea licences with partners
Orcadian Energy plc has been awarded two central North Sea licences, each in separate partnerships, in the 33rd licensing round. STRATEGY The mid-North Sea High licence contains shallow gas prospects and leads with up to 336bcf of gross prospective recoverable resource on a P50 basis, estimated by Orcadian as a guide. The two largest prospects of […]