Orcadian Energy plc has signed a farm-out agreement with Carrick Resources Ltd for a sub-area of licence P2320 which covers the Carra prospect, west of Aberdeen in the North Sea. TERMS The company will transfer the Carra interest to Carrick on completion of certain work milestones, not cash consideration. Carrick will review existing data, […]
Tag: Orcadian Energy plc
Orcadian to raise £1 million via placing
Orcadian Energy plc said it is to raise £1 million gross through the placing of 2,857,143 ordinary shares to certain institutional and other investors at a price of 35 pence per share. DIRECTOR DEALING Chief financial officer Alan Hume has subscribed for 228,571 placing shares for £80,000, taking his total held to 4,036,960, representing 6.1% of the enlarged […]
Orcadian signs data deal with TGS
Orcadian Energy plc has signed a seismic licensing deal with the energy data company TGS for its North Sea licences. AGREEMENT The agreement will give Orcadian high quality seismic data, revealing the reservoir structures and likely fluid type. Data will be used to evaluate the “multitude of development opportunities and prospects”. The company added that […]
Orcadian submits draft FDP and starts Pilot farm-out process
Orcadian Energy plc said it had submitted a draft field development plan to the North Sea Transition Authority (NSTA) and started a structured farm-out process for the Pilot oilfield, off the west coast of Aberdeen. PILOT The company also noted that the new Energy Profits Levy had “transformed economics of North Sea investment for tax-paying […]
Orcadian submits concept to cut offshore emissions
Orcadian Energy plc said it had submitted its final report into Central North Sea electrification to the area’s operators and the North Sea Transition Authority. FLOATING WIND TURBINES & HUBS The company’s ‘microgrid concept’ aims to reduce carbon emissions to ensure that the oil and gas are as sustainable as possible. “Orcadian and its consortium […]
Orcadian estimates oil-in-place increase for Pilot-Bowhead
Orcadian Energy plc estimated an increase in oil-in-place based on new interpretation of reprocessed seismic data for the Pilot, Feugh and Blakeney discoveries and the Bowhead prospect. PILOT The company said that the development area oil-in-place would increase by 10% to 15% compared with the previous estimates which were based on an older seismic survey. […]