The UK North Sea’s maturity is a double-edged sword when it comes to exploration, an analyst has said.
Scottish oil firm Cairn Energy has said it has lived up to its production guidance for the first part of 2019 and hailed the performance of the North Sea Catcher field.
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
EnQuest today denied that the reserves estimate for its Kraken field had been downgraded.
Bosses at Cairn Energy said today that cash flow from its North Sea interests would help the firm take advantage of "significant growth opportunities".
Private-equity backed Azinor Catalyst said today that it had discovered oil at the Agar-Plantain well in the North Sea.
Providence Resources’ boss said today that farm-out deals had helped the Irish explorer “shore up” its finances and bring first oil from the Barryroe discovery closer.
Union Jack Oil today confirmed its takeover of Nautical Petroleum's onshore portfolio.
Cairn Energy's SNE North-1 exploration well offshore Senegal has encountered an oil and pay pay.
Aberdeen-headquartered oil services firm Xodus Group will carry out exploration and appraisal work in India over the next two years.
Cairn Energy's chief executive today said the firm was well-positioned to deliver on behalf of its shareholders.
Cairn Energy has agreed a farm-out deal with cairn energy.
Oil exploration firm Cairn Energy is the front runner in the race to buy up Dong Energy's North Sea assets, according to market sources.
Cairn Energy said its Senegal drilling campaign continues to yield positive results.
Two of the largest ongoing development projects in the UK North Sea are under budget and ahead of schedule, one of its shareholders confirmed yesterday.
Cairn Energy today insisted despite a depressed Brent price, the firm was in a “robust financial position” and able to push ahead with the North Sea’s Catcher and Kraken developments.
Cairn Energy Plc gained the most in 16 months after the explorer reported positive results from an oil well off Senegal, potentially opening up commercial development for the area.
Cairn Energy today confirmed the success of its second appraisal well offshore Senegal.
North Sea cash flow is enough to fund all of Cairn Energy’s strategic goals, including its exploration plans for Senegal, the Scottish oil firm said yesterday. Speaking at the Edinburgh firm’s annual general meeting, chief executive Simon Thomson said: “Cairn seeks to deliver sustainable growth in value for shareholders from a balanced exploration and production portfolio. “That balance is provided from a combination of the attractive mature basin positions that we have built in the North Sea and an extensive frontier and emerging basin exploration portfolio.
Indian tax authorities last night slapped oil explorer Cairn Energy with a £1billion draft assessment order on a business transaction in the country seven years ago. In retaliation, Cairn said it has instructed counsel to fight the notice, which the Edinburgh firm argues stems from retrospective legislation imposed in 2012.
Cairn Energy has completed work on the SNE-1 well in Senegal after failing to hit hydrocarbons at a lower target. The company and its joint venture partners had previously discovered oil in the upper clastic target. However the deeper target of Karstified and fractured Lower Crestaceous shelf carbonates returned no hydrocarbons, Cairn Energy said.
Cairn Energy has made a second oil discovery during its Senegal exploration programme. The Scottish oil firm announced last month it had made an initial oil find it its FAN-1 exploration well in the West African country. The SNE-1 well is located in 1,100 metres water depth and is 100km offshore in the Sangomar block.