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 […]
Tag: Southern North Sea
Deltic mulls gas licence awards
Deltic Energy plc said it would consider whether to accept the two southern North Sea gas basin licences provisionally awarded in the UK 33rd offshore licensing round. PENSACOLA Containing “a mixture of small discoveries and low risk, infrastructure led exploration prospects”, Blackadder comprises blocks 47/5b, 47/10c and 48/6c while NE SNS consists of 43/2b, 43/3b, 43/4b, […]
Deltic completes 25% Selene farm-out to Dana
Deltic Energy plc has completed its 25% farm-out of southern North Sea licence P2437, containing the Selene gas prospect, to Dana Petroleum (E&P) Ltd. JOINT VENTURE The prospect holds gross P50 prospective resources of 318 bcf over 228km2, being “one of the largest undrilled structures in the world class Permian Leman Sandstone Fairway”. The transaction, […]
Deltic JV signs rig contract for Pensacola-Selene
Deltic Energy plc said that a rig contract has been confirmed for the Selene exploration and the Pensacola appraisal wells in the southern North Sea. SCHEDULE Joint venture partner and operator Shell UK Ltd will drill on licences P2437 and P2252 using the Valaris 123, a heavy duty jack-up rig. The contract and mobilisation beginning […]
IOG in talks over €100m bond interest payment
IOG plc said its financial position remained “challenging” with falling gas prices and production while the date nears for €100m bond interest repayments. BLYTHE The company is also in talks “on near-term liquidity and longer-term capital structure solutions” with holders of its senior secured bond as the waiver date of 29 September nears to repay […]
IOG in talks for further waiver on debt
IOG plc is in discussions with bondholders for a further waiver on the postponed interest payment due today under the €100 million senior secured bond. STABILITY The company, which owns the Saturn Banks infrastructure and gas licences in the southern North Sea, deferred the initial payment from 20 June to 31 July. IOG today said […]