Serica Energy plc said it was in negotiations for a possible merger with EnQuest plc which has made an all-share offer by way of a reverse takeover. ASSETS Serica added that the proposed deal had “substantial potential benefits” including “increasing scale and diversification, unlocking significant synergies and providing a stronger platform for further growth”. The […]
Tag: UK North Sea
Kistos grants 1.7m incentive share awards
Kistos Holdings plc has granted a total 1,691,639 ordinary shares, including 1,427,124 to executive directors, in accordance with its 2021 equity incentive plan. DIRECTORS Under the long term incentive plan, executive chairman Andrew Austin received awards over 543,666 shares. Chief executive officer Peter Mann received 475,708 awards and chief financial officer James Thompson 407,750. The […]
Serica suspends production from Triton FPSO
Serica Energy plc has suspended production until mid to late March from the Triton FPSO because of issues resulting from last month’s Storm Éowyn. IMPROVEMENT The company said that on 24 January, sea spray triggered the fire and gas detection system, causing an automatic production shutdown of operations. Production restarted on 28 January but “minor […]
Baron Oil exits UK
Baron Oil plc has exited the UK after failing to secure new North Sea blocks in the 33rd licensing round and the earlier relinquishment of the Dunrobin-Golspie joint venture licence. Chief executive Dr Andy Butler said: “We can now focus all our attentions on our core area of SE Asia, where we have an exciting […]
JOG agrees 50% farm-out with NEO for Greater Buchan
Jersey Oil & Gas plc (JOG) has agreed a 50% farm-out with NEO Energy for the Greater Buchan area (GBA) licences in the North Sea. TRANSACTION TERMS The GBA comprises P2498 and P2170 licences, which contain the Buchan oil field, the J2 and Verbier oil discoveries and a number of exploration prospects. JOG said that […]
Orcadian focuses on funding and farm-in for Pilot
Orcadian Energy plc said its main aim for 2023 was to find a partner and new investors to develop the Pilot oil field in the central North Sea. FINANCES In its unaudited results for H1 2022, the company added it planned to improve the technical and commercial definition of Pilot’s development as well as maximise […]