Deals, exits and administration open up North Sea M&A opportunities
Opportunities for M&A in the North Sea have opened up through a series of deals, an asset exit and a firm entering administration.
Opportunities for M&A in the North Sea have opened up through a series of deals, an asset exit and a firm entering administration.
August update: K2, Leverett and Earn underway, and Norway takes off.
Ithaca Energy (LON: ITH) has paused its efforts to electrify assets in the West of Shetland, Energy Voice understands.
The North Sea Transition Authority signed off on the ever-controversial Rosebank oil field this week and lit a tinderbox of political and environmental debate.
With Teal West and Victory expected to follow, Rosebank could be part of a 'bumper year' for UK FIDs in 2023.
Approval of the Rosebank oilfield is a “ray of light” for projecy partner Ithaca Energy, an analyst has said, after the firm was forced to take write downs of £58m linked to the windfall tax.
Anti-fossil fuel activists have launched spontaneous protests at government buildings London following the approval of the Rosebank oil field.
From Ithaca's Cambo to Shell's Victory, and everything in between…
Proximity to shore playing in favour of project to cut 100,000 tonnes of CO2 per year.
Around 85 Petrofac (LON: PFC) workers will strike for six days after rejecting a pay deal the union claimed would amount to a £6,000 pay cut.
Ithaca Energy, Hibiscus Petroleum and Caldera Petroleum have drawn up a unit operating agreement that will enable the joint development of Marigold East and West via Piper Bravo.
Ithaca Energy CEO Alan Bruce discusses the farm-out, work on the Cambo FID and why the UK should be a bit more Norway. . .
Ithaca Energy (LON: ITH) will buy out Shell’s (LON: SHEL) stake in the Cambo oilfield, becoming the 100% owner of the West of Shetland project.
Analysts have revised their forecasts for Ithaca Energy following a string of cancelled investments and slow going on the development of major projects like Cambo.
The chair of Ithaca Energy has talked up the economic benefits of backing the Cambo and Rosebank projects for local economies, including a potential high street resurgence.
“On Cambo, Shell has a 30% share and our understanding is they are progressing well - hopefully that sales process will end soon. That will allow us to continue the project towards FID.”
The results of a hotly-anticipated North Sea exploration well are due to be released in the “next few weeks”.
A number of the UK’s biggest operators have axed projects or scaled back spending in response to the levy, and “Ithaca is not immune to that”.
Shell (LON: SHEL) has whittled down bidders for its southern North Sea gas fields to three final contenders, according to people with knowledge of the matter.
Scores of North Sea workers employed by Petrofac (LON: PFC) are to down tools later this month as part of a dispute over jobs, pay and conditions.
According to independent estimates from advisory firm Envoi, K2 has estimated resource potential of 102 million barrels of oil equivalent.
Ithaca Energy (LON: ITH) is now the sole owner of the Fotla discovery after buying the remaining 40% stake from Spirit Energy.
Dozens of Petrofac (LON: PFC) offshore workers onboard Ithaca Energy (LON: ITH) platforms are to ballot on strike action.
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.
Ithaca Energy is using electrification to cut emissions at Captain while also using plastic polymers to boost oil recovery.