United Oil & Gas plc recorded its first year of revenues in 2020 and raised 2021 full-year production guidance for its licences in Egypt. ABU SENNAN Results for the year ended 31 December 2020 showed group profit of $850,000 with $9.1m (£6.5m) revenues from its Rockhopper Egypt acquisition (28 February – 31 December 2020). United’s cash capital […]
Tag: UK North Sea
EnQuest revenues fall but recovery seen in Golden Eagle
EnQuest plc reported revenues and EBITDA* nearly halved by the end of last year, reflecting lower oil prices and the cessation of production at Heather, Thistle and Alma/Galia following the reorganisation in 2020. But the group, with operations in the UK North Sea and Malaysia, remains optimistic that its proposed acquisition of the Golden Eagle […]
North Sea Transition Deal involves £16bn investment
The Government has published the North Sea Transition Deal which includes up to £16 billion of government and industry investment, a reduction in greenhouses gases and the creation of new skilled employment. The deal, reached between Government, oil and gas companies and the Oil & Gas Authority (OGA), looks at how the offshore hydrocarbon sector […]
Cairn to sell Catcher-Kraken interests
Cairn Energy plc has agreed to sell its North Sea interests in the Catcher and Kraken fields for US$460 million to Norwegian company Waldorf Production Ltd. GOALS The agreement includes additional contingent consideration dependent on oil prices from 2021 to the end of 2025. The sale, subject to shareholder approval, involves Cairn’s interest of 20% […]