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 […]
Tag: Southern North Sea
Hartshead completes 60% Seward farm-out
Hartshead Resources NL has completed the farm-out agreement with RockRose Energy Ltd for a 60% equity interest in its Seaward gas licence P2607 in the southern North Sea. TERMS The deal gives the Australian company gross A$196.3 million (£105m) for phase I of operations and A$536m (£287m) of gross project expenditure. RockRose’s initial cash payment […]
IOG costs rise up to £3m
IOG plc is making “steady progress” to resolve the oil and gas influx which delayed drilling Blythe H2 development well at the Saturn Banks project in the southern North Sea. BLYTHE H2 The company added that the situation had been “uniquely challenging” but two issues of a stuck drill string and a plugged drillpipe were […]
Neptune-Spirit bring 11th well on stream at Cygnus
Neptune Energy and its partner Spirit Energy today began production from the 11th well at its operated Cygnus gas field in the southern North Sea. SUPPLY The new well is expected to produce approximately 4,000 boepd, enough gas to heat approximately 200,000 UK homes. Together with the 10th well which came onstream earlier this year, […]
IOG delayed by gas-oil influx in Blythe H2
IOG plc encountered “abnormally pressured gas and oil influx” while drilling the Blythe H2 development well at the Saturn Banks project in the southern North Sea. H2 WELL The H2 well is being drilled by the Shelf Perseverance jack-up drilling rig under IOG’s contract with Shelf Drilling (UK) Ltd. Petrofac is the well operator. IDENTIFIED […]
Harbour-BP to develop Viking CCS
Harbour Energy plc has agreed with bp to develop the Viking carbon capture storage (CCS) and transportation project close to the Humber region in the southern North Sea. VIKING CCS The company continues as operator holding 60% of the project with bp acquiring a 40% non-operated share. Viking CCS comprises four main components relating to […]