Orcadian says Elke North Sea prospect has potential to be ‘bigger than Pilot’
Orcadian Energy CEO also said first oil could be achieved at its Pilot development by 2028
Exploration and production
Perenco announces near-field gas discovery at Ravenspurn South
Perenco UK has announced a near-field discovery at the Ravenspurn South field, located approximately 40 miles off the coast of Flambrough Head in Yorkshire.
Wood Mac: New UK licences need major discovery to ‘whet Shell’s appetite’
Shell (LON: SHEL) will need as much as one trillion cubic feet of gas from exploration licences in the West of Shetland to "truly whet its appetite", according to analysis by Wood Mackenzie.
WoodMac names five UK North Sea wells to watch for 2023, with potential play-openers included
Plays by Shell (LON: SHEL), TotalEnergies (LON: TTE) and Ithaca Energy (LON: ITH) are listed amongst Wood Mackenzie’s UK North Sea wells to watch.
Odfjell Drilling plans split into two separate companies
Odfjell Drilling (OSLO: ODL) plans to split itself into two companies which would see the creation of a dedicated technology spinoff.
An independent Scotland would continue drilling for oil and gas, says net zero secretary
Scotland’s net zero secretary has said Holyrood would allow North Sea oil and gas exploration, if the country were to break away from the rest of the UK.
Sir Ian Wood says banning new UK oil projects would be ‘absolutely crazy’
Industry doyen Sir Ian Wood has warned that halting new oil and gas exploration and production projects in the UK would be "absolutely crazy".
Adept Solutions secures seven figure contract with Spirit Energy
Aberdeen-based Adept Solutions’ plans to grow its operations in Europe have received a major boost after the company secured a seven-figure contract with Spirit Energy.
Independent E&P firms that fail to adjust to energy transition will be gone by 2050, analyst says
Independent exploration and production (E&P) firms that fail to adjust to the energy transition face extinction before 2050, an analyst said today.
Well numbers sink to 9-year low in 2016, but commercial success rates pick up
Well numbers and discovered volumes fell to a nine-year low in 2016, but success rates increased by 35% and further growth is expected this year, a new report said.
Centrica looks to bolster E&P business with joint ventures
Centrica said yesterday that it was weighing up partnerships and joint ventures to bolster its exploration and production (E&P) business.
Oil and gas exploration to return to profitability next year, Woodmac says
Smarter choices and cost cutting will see oil and gas companies’ exploration efforts worldwide returning to profitability in 2017, a new report has claimed.
Lansdowne stanches bleeding as steps taken to cover court loss
Lansdowne Oil and Gas reported a slight improvement in its financial position in what the Dublin-based firm described as a “very challenging” first half of 2016.
Oil majors getting exploration economics right, study says
Oil majors are getting the economics of exploration right after taking the crude price downturn by the horns, a new report said.
Zenith wins new UK onshore well management contract with Europa
Aberdeen-based Zenith Energy has won a contract worth a six-figure sum to provide well management services for Europa Oil and Gas.
Faroe reveals spudding of North Sea field
Faroe Petroleum said today that appraisal drilling on a Norwegian North Sea well had begun.
New IOG chairman bullish on prospects for North Sea
The new chairman of Independent Oil and Gas (IOG) has said the company’s bold North Sea plans and UK energy sector’s response to the downturn had convinced him to take on the role. David Peattie, who is expected to help support IOG’s mergers and acquisitions strategy, said there were “all sorts of opportunities” in the UK North Sea. “There has been a positive response from the supply chain in terms of reduced costs, risk sharing and flexibility,” said Mr Peattie, who spent more than 30 years of his career at BP.
Boss of new industry alliance vows to rescue North Sea oil industry
The boss of a newly formed group of three businesses has vowed to come to the rescue of North Sea oil and gas companies with badly-needed well intervention services. Paul Landers said The New Way (TNW) will pool its resources to improve flow from wells at a low cost and with a quick turnaround time. TNW is made up of well services firm StimLite and GB Seismic, both based in Leicester, and UCS, a contracting supply company.
Shell bids to drill two Albanian onshore blocks
A venture between Royal Dutch Shell and Canada's Petromanas has applied to drill two onshore blocks in central Albania close to another promising well they are drilling further south, an official said on Thursday. The official said three bids had been submitted for the blocks - from Shell Upstream Albania B.V with Petromanas Albania GmbH, Israel's Delek Group Limited and Interland Investments SA.