Orcadian Energy plc has entered into a non-binding heads of agreement with Rapid Oil Production Ltd to sell its interests in the Crinan and Dandy discoveries. NON-CORE ASSETS Mobil discovered Crinan and Dandy in 1987 and 1990 respectively, before they were appraised by Monument in 1998. Crinan straddles the boundary between Orcadian’s block of 21/28a and […]
Tag: Orcadian Energy plc
Orcadian looks to raise funds after losses increase
Orcadian Energy plc said it would need further funding after recording more than a five-fold increase in losses from its Central North Sea operations. FINANCES The company holds four licences, East and North East of Aberdeen, of which the Pilot field is the largest. Results for the year ended 30 June 2022 reflected investment in […]
Orcadian signs core services MoU for Pilot oil field
Orcadian Energy plc has signed a binding memorandum of understanding with SLB to deliver core services for the wells on the company’s Pilot oil project in the North Sea. TECHNOLOGIES The companies and chosen well operator Petrofac will plan a comprehensive project agreement with a strong focus on decarbonisation. Orcadian chief executive Steve Brown said […]
Orcadian granted licence extension for Pilot
Orcadian Energy plc has received a one-year extension to its licence P2244 containing the Pilot oil field in the North Sea. DEVELOPMENT The second term of licence P2244, granted by the North Sea Transition Authority (NSTA), was due to expire at the end of November 2022 but will now remain valid until the end of […]
Orcadian NED Christian Wilms to leave
Orcadian Energy plc announced that Christian Wilms will leave as a non-executive director (NED) on the board. The news comes as co-founder Greg Harding announced his retirement at the end of the year. The company said that Mr Wilms’ increasing executive responsibilities had made it difficult for him to dedicate the necessary time to his role […]
Orcadian co-founder Greg Harding to retire
Orcadian Energy plc’s co-founder Greg Harding will retire at the end of 2022. In October 2013, he and Steve Brown established the company by screening relinquishment reports for a North Sea project of scale. “The board thanks Greg for his outstanding contribution to our understanding of the very best way to develop the Pilot field, […]