Kistos takes over two EDF gas storage sites for £25 million
Kistos (LSE: KIST) has acquired a 100% stake in EDF Energy's gas storage company, resulting in the firm picking up two UK storage sites.
Kistos (LSE: KIST) has acquired a 100% stake in EDF Energy's gas storage company, resulting in the firm picking up two UK storage sites.
“Each time we think we have certainty, someone moves the goalposts and that's not helpful.”
Independent North Sea operator Kistos (AIM:KIST) has agreed to purchase two onshore gas storage sites from EDF Energy for £25 million.
Production has resumed at the Shetland Gas Plant nearly two weeks after an outage brought the facility to a standstill.
Shetland Gas Plant co-owner Kistos (LON: KIST) expects the facility to reopen within the next two weeks, the company said today.
Kistos (KIST.L) has paid its outstanding bond debt in the Netherlands, creating an opportunity for the firm to return more cash to shareholders, said an industry analyst.
Kistos says that ‘adverse changes’ in the fiscal environment within the UK means that TotalEnergies' Edradour West, rather than Glendronach, is expected to go ahead next in the Greater Laggan Area (GLA).
From Ithaca's Cambo to Shell's Victory, and everything in between…
Kistos (LSE: KIST) successfully appeals the Netherlands Ministry of Economic Affairs' decision and receives a five-year extension on its license.
Production has been suspended at the TotalEnergies-operated Edradour field west of Shetland, amid reports that increased water output is causing issues.
Kistos (LSE: KIST) says it is “ready to sanction” the Glendronach and Edradour West projects in the West of Shetland, pending agreement with operator TotalEnergies.
Kistos looks to Norway as it sets out to acquire Mime Petroleum, citing "windfall taxes and a lack of fiscal certainty" for the lack of UK investment.
Kistos (AIM:KIST) has confirmed plans by TotalEnergies to spud its much-anticipated Benriach well in Q2 of 2023, while a final decision on Glendronach is to be further delayed.
Further North Sea oil and gas players are being tipped to up sticks next year as companies look to streamline their portfolios.
Serica Energy (LON: SQZ) has seen its profits surge 88-times over year-on-year amid a boost to new production.
North Sea producers Serica Energy (LON: SQZ) and Kistos (LON: KIST) have confirmed neither party will make a final offer on the other, drawing a line under a series of takeover bids.
Serica Energy (LON: SQZ) has knocked back a new cash and share-for-share bid from rival Kistos (LON: KIST) worth £1.15 billion, which may replace Mitch Flegg as CEO.
Serica Energy (LON: SQZ) has quadrupled production from a 24-year-old BP well in the North Sea.
Andrew Austin has a track record of dealmaking in the North Sea and has now set his sights on independent Serica Energy (LON: SQZ).
Serica Energy (LON: SQZ) has issued a lengthy statement denouncing the bid from smaller rival Kistos (LON: KIST) as “significantly undervaluing” the company.
More than a month on from its announcement, the nuances of the recent oil and gas windfall tax still divide opinion.
The chairman of Kistos has said it intends to take “full advantage” of the government’s new North Sea investment incentives as it looks to new opportunities in the basin.
Kistos (LON: KIST) has confirmed it is bidding to acquire assets being put on sale by TotalEnergies in the West of Shetland.
Andrew Austin's new venture Kistos has successfully drilled a North Sea well.
North Sea firm Kistos (LON: KIST), Andrew Austin’s new venture, has made dual appointments to its board of directors.