Administrators appointed by IOG have identified 28 creditors owed money by the troubled North Sea oil and gas firm
Troubled North Sea firm IOG owes more than £140 million to creditors as administrators look to restructure the company, new documents have revealed.
Still battling with drilling issues, IOG outlined plans for several further cluster developments around its Saturn Banks scheme in a wide-ranging update ahead of its AGM.
While the Shelf Perseverance jack-up drilling rig created the Blythe H2, the newly spudded well experienced 'fluid losses'.
IOG (AIM:IOG) has again cut its production guidance and will now suspend one of its Southwark wells to deliver first gas on schedule, after fluid losses slow drilling efforts.
UK based energy firm IOG has marked an “important step” with the spudding of the Blythe development well.
Independent Oil & Gas made a profit in 2015 and said it believes it can continue to make money in the North Sea with a lower oil price.