News Oil & Gas

Parkmead agrees £14m assets’ sale to Serica

The Parkmead Group plc has agreed to sell its offshore UK and onshore Netherlands exploration and production interests for £14 million, with up to £120m in contingent payments, to Serica Energy (UK) Ltd. GROWTH The sale includes the company’s 50% working interest in licences P2400, containing the Skerryvore prospect, and P2634, containing the Fynn Beauly […]

News Oil & Gas

Parkmead awarded 50% Fynn Beauly

The Parkmead Group plc has been formally awarded 50% of the Fynn Beauly heavy oil discovery, estimated to hold oil-in-place of 740 million to 1.33 billion barrels, in the Outer Moray Firth. UNCERTAINTIES The operator will share licence P2634, comprising blocks 14/15a, 14/20d and 15/11a, with Orcadian Energy plc who holds a 50% interest. An […]

News Oil & Gas

Parkmead mulls geothermal energy for Fynn Beauly

The Parkmead Group could use geothermal energy instead of injecting hot water to reduce oil viscosity for enhanced recovery in Fynn Beauly in the central North Sea. SUBSTANTIAL The discovery is part of three new offshore blocks 14/15a, 14/20d and 15/11a in a new licence awarded to the operator’s 50-50 joint venture with Orcadian Energy […]

News Oil & Gas

Parkmead increases Dutch gas production and reserves

The Parkmead Group reported consistent average production rates from the LDS-01 discovery well on the Drenthe VI joint venture licence since coming on stream. OPTIMISATION The licence, in the Diever West field containing the Lheebroek prospect, is in the north of the Netherlands. The company said that LDS-01 had average rates close to 5,000 boepd […]