London-listed upstream investor Reabold Resources has agreed to loan North Sea oil firm Corallian Energy £1 million, subject to shareholder approvals.
UK firm Corallian has entered into an exclusivity period with a “large European E&P company” which is interest in its 174 million barrel Dunrobin prospect.
Exploration activity in the UK North Sea has picked up substantially since last year, but the success rate has “fallen off a cliff”, an analyst has said.
The UK offshore scene is poised for a timely comeback, according to energy consultancy Rystad.
Corallian Energy has hired Fraser Well Management (FWM) as operator for its Curlew-A appraisal drilling job in the central North Sea.
The rig site survey has begun on Corallian Energy's Curlew-A field in the central North Sea.
Australian oil firm Talon Petroleum said today that it had completed the acquisition of EnCounter Oil.
Corallian Energy and partners will focus on the Colter South discovery off Bournemouth after their main target to the north disappointed.
Corallian Energy's appraisal well on the Colter field missed its original target, but made an oil discovery anyway.
A rig is on its way to the Moray Firth to drill Corallian Energy's Wick exploration well.
Corallian Energy has raised almost £1 million to help pay for the Curlew-A appraisal well.
Corallian Energy said today that the UK Government had looked favourably upon its plans for two offshore exploration wells.
Australian oil firm Talon Petroleum will buy 10% of a North Sea field from Corallian Energy.
Corallian Energy has booked the Ensco-72 jack-up drilling rig for its Wick and Colter wells.
A rig site survey over the proposed location of the Wick well has been completed, project partners said.
Partners behind the Wick oil field project in the Moray Firth said today that they had taken a major step towards drilling an exploration well.
Corallian Energy's Oulton field in the UK North Sea could yield more than 10 million barrels of oil.
The Oil and Gas Authority has approved two farm-in deals on a licence in the Moray Firth.
Baron Oil has firmed up its deal with Corallian Energy to acquire 15% of the Wick Prospect in the Moray Firth.
London-headquartered Baron Oil said today it had come to an “option agreement” to buy part of the Wick prospect in the Moray Firth.
Upland Resources said today that a bid to drill a well off the north-east of Scotland has taken a big step forward.
InfraStrata has confirmed a company structure shake-up as it divests the majority its exploration-based assets in a bid to refocus on its gas storage project in Northern Ireland.