News Oil & Gas

i3 Energy increases quarterly production

i3 energy plc reported an increase in production as it progressed its interests in Canada and the UK North Sea. PRODUCTION The company’s Q2 2022 operational and financial report showed average production of 19,502 boepd, a 116% increase compared with Q2 2021 and an 8% increase from Q1 2022. i3 recorded the increase despite production […]

News Oil & Gas

Orcadian estimates oil-in-place increase for Pilot-Bowhead

Orcadian Energy plc estimated an increase in oil-in-place based on new interpretation of reprocessed seismic data for the Pilot, Feugh and Blakeney discoveries and the Bowhead prospect. PILOT The company said that the development area oil-in-place would increase by 10% to 15% compared with the previous estimates which were based on an older seismic survey. […]

News Oil & Gas

Orcadian granted extension to Phase A of licence P2320

Orcadian Energy plc has been granted a time extension to Phase A of licence P2320 in the UK North Sea. EMISSIONS The North Sea Transition Authority (previously known as the Oil and Gas Authority) allowed the extension to 14 May 2023, with the initial term also extended to 14 November 2024. The company said that licence P2320 […]

News Oil & Gas

Flaring falls by 19% in the UK North Sea – OGA

The Oil and Gas Authority (OGA) reported that flaring* in the UK North Sea fell by 19% last year, following a 22% decrease during 2020. STATISTICS In a statement, the OGA said that production facilities cut their flaring by 6 billion cubic feet (bcf), to 26 bcf, a reduction equivalent to the annual gas demand […]