Orcadian Energy plc has agreed an extension until 13 June 2024 to pay the US$1 million loan to Shell. AGREEMENTS The original repayment was 23 August 2023 which was twice extended to 13 March 2024. The company said that the new extension allowed time to process the $3.1m sale of a 81.25% interest in its […]
Tag: TGS-Nopec Geophysical Company (TGS)
Orcadian granted conditional further two years for Pilot
Orcadian Energy plc has been granted a conditional two-year extension to the second term of production licence P2244 containing the Pilot oil field. FARM-OUT Based on Orcadian’s and the proposed operator’s intended work, the North Sea Transition Authority will change the licence’s expiry date from 30 November 2023 to 30 November 2025. The company last […]
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 […]
JOG settles TGS dispute with $850,000 payment
Jersey Oil & Gas (JOG) has paid $850,000 in a settlement with TGS-Nopec Geophysical Company (TGS). The payment leaves the North Sea hydrocarbon exploration and production company with some £5 million at the end of December 2020. TGS had wanted uplift payments from JOG of $1.05million, which was disputed by the company. The money is […]