Reabold Resources plc expects the second tranche payment from the sale of its investee company Corallian Energy Ltd to be distributed to former Corallian shareholders from today. USES Reabold will receive £5.2m from purchaser Shell UK Ltd, which follows the first sum of £3.2m received on 1 November 2022. The final payment, of £4.4m, is […]
Tag: Shell UK Ltd
Deltic-Shell begin site survey for Selene
Deltic Energy plc’s joint venture partner has begun site survey works for the Selene gas exploration well off the northeast coast of England. RIG LOCATION Operator Shell UK Ltd has mobilised a geophysical site survey vessel to acquire high resolution 2D seismic lines over the proposed well location. Seismic acquisition is expected to complete before […]
Deltic marks rise in estimated Pensacola oil and gas
Deltic Energy plc said the estimated oil and gas resources have nearly doubled for the joint venture (JV) Pensacola discovery on licence P2252 in the UK North Sea. ANALYSIS The company’s post-well analysis now estimates the structure to contain gross P50 initially in place volumes of gas and oil of 342 million barrels of oil […]
Reabold considers early return from Corallian sale
Reabold Resources plc is considering an early distribution to shareholders following receipt of an initial £10 million, with £3.2m net to Reabold, from the sale of Corallian Energy Ltd to Shell UK Ltd. PARTIAL DISTRIBUTION The balance of the total £22m consideration (£9.5 million net to Reabold), is expected to be paid during 2023. At […]
Deltic finds ‘milestone’ gas-light oil at Pensacola
Deltic Energy plc reported a “substantial hydrocarbon column” discovery at the Pensacola prospect on the joint venture (JV) licence P2252 in the southern North Sea. HYDROCARBON COLUMN Deltic holds a 30% working interest in the project with Shell UK Ltd (operator 65%) and ONE-Dyas (5%). Well 41/05a-2 reached a total depth of 1,965 metres true […]
Deltic Energy JV spuds Pensacola gas prospect
Deltic Energy plc’s joint venture partner has installed the Maersk Resilient rig and begun drilling on the Pensacola gas prospect in the Southern North Sea. PROSPECTIVE RESOURCES The company has a 30% working interest in licence P2252 located in the emerging Zechstein Reef play fairway. Deltic estimates Pensacola contains gross P50 prospective resources of 309 […]