Jersey Oil and Gas could scarcely have dreamt that the farm-out process for the North Sea Verbier prospect would go so smoothly.
Jersey oil and gas
Parkmead Group’s boss said yesterday that the Aberdeen firm would stay on the acquisition trail as it leads efforts to create a large North Sea hub.
Jersey Oil and Gas has welcomed new figures showing higher than anticipated reserves at two North Sea interests.
The search for the rig that will drill a North Sea well this summer is under way.
Jersey Oil and Gas said it is working with its partners on possible acquisitions which could lead to it having a number of producing oil and gas assets in the future on the UKCS.
The boss at Jersey Oil and Gas (LON: JOG) yesterday said he was confident of finding investors willing to support the firm’s North Sea acquisition strategy.
Norwegian energy giant Statoil has bought a 70% stake in a UK North Sea licence for $2million.
The boss of acquisition focused oil and gas junior Jersey Oil and Gas said he believed the North Sea oil and gas industry has had its Northern Rock moment of panic and was now getting on with the task of reestablishing itself as a viable sector.
Jersey Oil and Gas is on the hunt to snap up assets in the UK North Sea. The firm today confirmed it was active in nine sales processes involving more than 25 field interests.
Salary cuts and cost savings are part of a Jersey Oil & Gas strategy to maintain a lean operation that it believes will help it make money at less than $30 per barrel.
With the oil price hovering at $30/bbl, it is unsurprising that some are claiming that the North Sea is dead, however they could not be further from the truth.
Jersey Oil and Gas has made a director swap.