The UK North Sea is likely heading for tighter supply of oil rigs as a flurry of deferred drilling contracts for next year come through, according to new analysis.
Premier Oil expects to book charges and impairments of up to £480 million, and a 40% drop in revenues, in its upcoming half-year results due to lower oil and gas prices.
A newly-formed oil firm claimed on Tuesday night that it had captured stakes in four producing North Sea fields through the acquisition of Endeavour Energy UK (EEUK).
Trade body Oil and Gas UK (OGUK) has published a list of 10 “principles” aimed at helping a "fragile" supply chain whose margins have been squeezed tight by customers in recent years.
Oil firm Dana Petroleum confirmed yesterday that its chief executive had retired from the role.
North Sea oil and gas entrepreneur Tom Cross had lots of reasons to cheer Parkmead Group’s latest results after a string of progress markers.
Tailwind Energy’s boss has said the North Sea oil firm has “identified” new acquisition targets, but won’t take a scattergun approach to growth.
North Sea newcomer Tailwind Energy has completed a deal to buy Shell and ExxonMobil’s stakes in the Triton cluster.
Premier Oil’s boss said yesterday that the Tolmount area in the southern North Sea had the potential to be a “big” asset for decades to come.
Serica Energy’s boss said yesterday that the oil firm is “recruiting like mad” as it prepares to open new operational headquarters in Aberdeen.
The Eiffel Tower, the leaning Tower of Pisa and the Statue of Liberty - all have been 'propped up' by clever tourists in carefully set-up holiday snaps.
Hyperdynamics Corporation said it has filed legal action against its partners under the Joint Operating Agreement governing the oil and gas exploration rights offshore Guinea. The company’s subsidiary, SCS corporation, has also filed parallel actions in the US District Court for the Southern District of Texas and before the American Arbitration Association against Tullow Guinea Ltd.
Dana Petroleum suffered hefty losses during 2014, it emerged yesterday. The firm, which has oil and gas exploration and production operations in the UK, Egypt, Norway, the Netherlands and Africa, has posted pre-tax losses of £462.5million on revenue of £682.4million. Dana’s plunge into the red came amid a flurry of top management departures and followed profits of £145million the year before, when revenue topped £1billion.
Dana Gas, one of the largest oil and gas investors in Iraq's semi-autonomous Kurdish region, said on Sunday that it had obtained a favourable ruling from a London arbitration tribunal in its dispute with Kurdistan authorities. The Abu Dhabi-listed firm, which leads a consortium of investors, had filed an arbitration case in London in October 2013 against the Kurdistan Regional Government (KRG), seeking to confirm its contract rights and to obtain payments for products which it had delivered.
Dana Gas has reported a drop in profits in its first quarter results on the back of the oil price decline. The energy firm said it had made a profit of $12million in the first quarter, in comparison with a profit of $45million a year previously. The 73% drop for the company, which has interests in Egypt, the United Arab Emirated and the Kurdistan region of Iraq, said the fall had been caused by a weaker oil price.
Technip has been awarded a brownfield subsea contract by Dana Petroleum for work in the North Sea. The agreement is for work on the Triton floating production storage and offloading (FPSO) vessel which is located 193 kilometres east of Aberdeen. It produces oil and gas from different fields including Bittern, Guillemot West and North West, Clapham, Pict and Saxon, which are tied back to the FPSO vessel via subsea facilities. Bill Morrice, managing director of Technip in the UK, said: “The scope of the 2015 campaign was defined by Dana and its Triton partners, as a result of a successful detailed riser life extension study executed by Technip in the UK late 2014.