IOG (AIM: IOG) will be placed into administration as the troubled North Sea operator is overcome with debt and operational issues.
Troubled IOG has key licence extensions blocked by NSTA as it risks administration over impending interest payments.
Bondholders of troubled gas producer IOG (AIM:IOG) have granted the company more time to address challenges with its balance sheet.
IOG (LON: IOG) is seeking support from its investors as the oil and gas firm tries to stave off the threat of administration.
Beleaguered North Sea operator IOG (LON: IOG) has cancelled a rig contract and suspended drilling plans in order to focus on rebuilding its balance sheet.
While it’s not a panacea - and may never actually kick into force - the windfall tax price floor could help with financing the $5bn of North Sea projects awaiting FID.
Still battling with drilling issues, IOG outlined plans for several further cluster developments around its Saturn Banks scheme in a wide-ranging update ahead of its AGM.
IOG hit out at the government’s energy profits levy in its annual results, in which it reported a loss following a raft of delays and production issues across its Saturn Banks project.
The Noble Hans Deul jack-up has spudded a new well in the southern North Sea and will spend the next three months drilling IOG’s Blythe H2.
A 50:50 joint venture of IOG (LON: IOG) and CalEnergy Resources (CER) has sanctioned the Blythe H2 well in the Southern North Sea.
IOG has suspended operations at its A2 well on the Southwark field after remediation work failed to boost production rates, prompting another fall in its stock price.
IOG (AIM:IOG) has encountered further setbacks at its Southwark field as low flow rates and produced water volumes slow progress.
North Sea operator IOG (LON: IOG) has confirmed that first gas from its troubled Southwark field in the Southern North Sea is nigh.
Production has been restarted from IOG’s (AIM: IOG) Blythe and Elgood field, two-thirds of the wider Saturn Banks project.
Several independent North Sea producers saw their share prices drop after the chancellor’s windfall tax announcement - lending credence to claims they are harder hit than oil majors by the policy.
Subsea 7 (OL: SUBC) has indicated it is nearly complete on its UK contract for the Shell Penguins project.
A North Sea firm has asked Jeremy Hunt to provide a “small fields allowance” in the windfall tax, reinstating legislation from George Osborne’s era in the Treasury.
IOG (AIM: IOG.L) is looking to deal with recent setbacks to Southwark with hydraulic stimulation operations expected next week for the A2 well.
IOG (AIM:IOG) has announced sweeping changes to its board and executive team including the departure of chief executive Andrew Hockey, following another cut to its production guidance and long-running drilling delays.
IOG (AIM:IOG) has again cut its production guidance and will now suspend one of its Southwark wells to deliver first gas on schedule, after fluid losses slow drilling efforts.
IOG (LON: IOG) has released its first set of profits following the start up of its Saturn Banks project in the North Sea.
As of 25 July, Westwood Global Energy reports that there are three exploration wells active, with two in the CNS and one in the NNS.
Gas firm Cornerstone Resources, backed by the former CEOs of IOG and Ithaca Energy, is targeting a “massive opportunity” in the southern North Sea as it solidifies its position in the region.
Production from IOG’s flagship North Sea project has been partially restored after issues with the two onshore compressors cropped up.
IOG has again been forced to shut in its key Saturn Banks assets, this time to address onshore compressor issues linked to condensate production.