Nigeria’s Seplat Petroleum has reached an agreement to acquire Aberdeenshire-headquartered Eland Oil and Gas for more than £380 million.
Eland Oil and Gas
Eland Oil & Gas is beginning to reap the rewards of its second field in Nigeria’s Oil Mining Licence (OML) 40 starting up, allowing it to move into exploration plans.
Aberdeenshire-headquartered Eland Oil and Gas has hailed first production from one of its key projects in West Africa.
Strong financial results have caused Aberdeenshire-based Eland Oil and Gas to look at doubling production once again in 2019 after doing it last year.
Aberdeenshire-based Eland Oil and Gas described 2018 as a "transformational year" as the firm achieved first profit.
Aberdeenshire-based Eland Oil and Gas has announced it will complete the Gbetiokun-3 appraisal well in January ahead of the start-up of an early production system.
Aberdeenshire-based Eland Oil and Gas has announced a £3 million share buyback programme.
Aberdeenshire-based Eland Oil and Gas has hailed “the most important financial period in its history” as it jumped to a £27.6million profit.
A Scottish oil exploration firm has hailed 2017 as “the most successful year in its history”.
Africa-focused producer Eland Oil and Gas said today that the initial borrowing base for its lending facility has been raised to $70million from $40million.
Eland Oil and Gas said today that its Opuama-8 well has been drilled in Nigeria.
West-Africa-focused Eland Oil and Gas said today that production from one of its Nigerian licences had reached its highest level since 1977.
Eland Oil and Gas said last night it had raised £15.2million from a sale of new shares in the north-east company.
Africa-focused Eland Oil and Gas today revealed that it could recover 22.6billion barrels more from four of its Nigerian wells than first thought.
West-Africa-focused Eland Oil and Gas said today that it had secured a borrowing base of $24million following a review with its lender.
West-Africa-focused Eland Oil and Gas said today that it had pumped 330,000 barrels of oil from its Opuama-3 well since resuming production in January.
West-Africa-focused Eland Oil and Gas said today it would speed up plans to reduce its use of pipelines for its Nigerian crude exports.
Eland Oil and Gas, an Aberdeen-based firm which focuses on West Africa, said today it was “evaluating its portfolio” due to disruption to one of its main fields.
North-east company Eland Oil and Gas said tonight it aimed to raise about £10million from the sale of new shares.
The boss of Aberdeen's Eland Oil and Gas said the company is keen to accelerate the first phase of development of its Gbetiokum field in Nigeria, and is aiming for production by the end of 2016.
Eland Oil and Gas has completed the perforation of two new intervals in the Opuama 3 well in Nigeria and increased production from the two strings.
Eland Oil and Gas has confirmed shares held in the company by Helios Natural Resources have been converted to carry voting rights.
Eland Oil & Gas said it aims to significantly improve production from the Opuama field at a low cost by conducting workovers on its existing wells.
Eland Oil and Gas, the West African-focused exploration firm has made several changes to its board of directors, with co-founder Harry Wilson retiring as chairman.
Eland Oil & Gas' successful workover has boosted production in its West African assets.