Orcadian Energy plc has acquired for an undisclosed sum all of the ordinary shares of Hague and London Oil Offshore UK Ltd from the joint liquidators of Hague and London Oil plc (HALO). LOSSES HALO previously held a number of licences across the southern North Sea, including “participation” in wells on Pegasus and Andromeda and […]
Tag: Southern North Sea
Hartshead wins new North Sea licences
Hartshead Resources NL, which in April reduced its workforce, has won six new oil and gas licences covering 10 blocks in the southern North Sea. ACREAGE The Australian company has accepted three licences and is awaiting grant of a further three from the North Sea Transition Authority’s 33rd licensing round. Five licences consisting of nine […]
Orcadian delays action over debt payment
Orcadian Energy plc faces no action until the end of August for missing the deadline to pay $1.43 million debt to Shell International Trading and Shipping Company Ltd (Stasco). OBLIGATIONS The amount owed will be settled from payment due under a proposed farm-in or joint venture on Orcadian’s southern North Sea Earlham discovery. The company […]
Orcadian secures £1.15m loan to repay Shell
Orcadian Energy plc has secured a two-year £1.15 million loan with an as yet unnamed industry partner to repay the outstanding £1m loan to Shell. The loan will settle from the completion payment due under a proposed farm-in or joint venture on Orcadian’s recently offered southern North Sea licence. Interest, of between 6% and 9%, […]
Deltic withdraws from Pensacola
Deltic Energy plc has withdrawn from the southern North Sea Pensacola discovery after being unable to find funding or a farm-in partner. INFRASTRUCTURE Operator Shell UK Ltd last week allowed more time to secure a solution for its 30% interest in licence P2252, but Deltic today said it was could not commit to an appraisal […]
Deltic given more time to find Pensacola partner
Deltic Energy plc has been granted more time to find a farm-in partner for the southern North Sea licence P2252 containing the Pensacola gas discovery. APPRAISAL The company had until the end of May to find £15 million for its share of the costs or withdraw from its 30% licence interest. Deltic today said that […]