‘Diminishing hopper’ of big North Sea projects a leash on firms’ ability to offset tax hike
Westminster’s hopes of spurring North Sea spend in the coming years could be derailed by one fundamental issue: a lack of available projects.
Kraken
Cnooc’s Golden Eagle field declining faster than anticipated
Production from Cnooc’s Golden Eagle is “lower than expected”, the result of “higher than anticipated rates of decline”.
HSE flags lack of barriers to ‘major accident’ on Kraken FPSO
A vessel owner has been ordered to up its game after a raft of issues related to the monitoring and managing of alarms were uncovered on a North Sea ship.
EnQuest ‘reviewing future capex’ in light of windfall tax incentives
EnQuest (LON:ENQ) has reported a 'good start to the year,' as it focuses on maintaining production and reducing debt, and intends to review its capex plans in the wake of new windfall tax investment incentives.
Kraken FPSO ‘almost impossible to electrify’ but EnQuest looks to creative solution
EnQuest has said its Kraken FPSO is “almost impossible to electrify” and is looking at creative alternatives to decarbonise the asset.
EnQuest reports progress on production issues at Magnus
EnQuest has reported solid production performance for the year to date, as it continues with workover programmes in the North Sea and offshore Malaysia.
EnQuest plans largest work programme since 2014 this year
EnQuest (LON: ENQ) plans to carry out its largest sanctioned programme of work since 2014 in the coming year, with a range of drilling and decom in the pipeline.
Capricorn expects £56m windfall from Kraken and Catcher sale
Capricorn Energy expects to earn around £56 million on the back of higher UK production, following the sale of its North Sea interests to Waldorf Production last year.
North Sea activity drives Addleshaw Goddard to close ‘record’ £1bn deals in four weeks
Addleshaw Goddard has completed deal activity with a combined value of £1 billion in the last month, a record for the legal firm.
EnQuest cuts 2021 production estimate on ‘challenging’ Kraken and Magnus woes
EnQuest has cut its production estimates for 2021 off the back of "challenging" issues at the Magnus and Kraken fields in the North Sea.
Cairn completes £330million sale of Kraken and Catcher stakes to Waldorf
Cairn Energy (LON: CNE) has completed the £334m sale of its interests in the Catcher and Kraken fields in the North Sea to Waldorf Production.
Cairn Energy updates timeline for North Sea sales, Jaws well pushed to Q4
Cairn Energy has updated its timeline for the £330m sale of its interests in the Catcher and Kraken assets in the North Sea.
Magnus woes dent production for EnQuest
EnQuest took a hit to its production in the first half of 2021 after a series of unplanned issues at Magnus, as well as a drop in output from its flagship Kraken field.
EnQuest completes Bentley acquisition from Whalsay
EnQuest has announced the completion of its acquisition of the Bentley field, one of the North Sea’s largest untapped discoveries, from Whalsay Energy.
‘I wish EnQuest well’ says Xcite boss on ‘challenging’ Bentley discovery
A boss of the collapsed firm Xcite Energy, which used to own the Bentley discovery, has wished new operator EnQuest well on the project.
EnQuest bullish on arresting natural decline at core fields and keeping BP as a Sullom Voe client
Bosses at EnQuest said yesterday they were confident of addressing natural production decline at the firm’s core oilfields, adding they have plenty of “ammo” left.
EnQuest cuts debt in 2020 but remains deep in the red
Exploration and production firm EnQuest managed to reduce its debt pile to its lowest level since 2014 and narrow its losses in 2020 despite the oil price slump.
Waldorf Production boss says firm in the running for more deals
Waldorf Production’s chief executive has said the company remains hot on the trail of more acquisitions after inking a deal to buy stakes in the Catcher and Kraken fields from Cairn Energy.
North Sea offers ‘excitement and upside’, Cairn boss says, despite asset sale
Cairn Energy’s chief executive said today that the UK North Sea still offered “excitement and upside” for exploration and production firms.
Cairn Energy selling stakes in North Sea fields to Waldorf as flurry of deals announced
Scottish oil company Cairn Energy has agreed to sell its stakes in the Catcher and Kraken fields in the North Sea to Waldorf Production for £330 million.
Strong showing from Kraken boosts Bumi Armada profits
Profits at Bumi Armada jumped last year thanks to a strong showing from its Armada Kraken FPSO in the North Sea.
EnQuest wraps up deal for stake in Bressay field
London-listed EnQuest said today it had completed the £13 million acquisition of a stake in the Bressay field from Equinor.
Cairn says Kraken and Catcher reaching ‘natural decline phase’, targets ‘Jaws’ prospect with Shell
Scottish oil and gas firm Cairn Energy said today that its partners’ North Sea Catcher and Kraken fields were expected to “enter their natural decline phase” this year.
Debt creeps up at EnQuest but Kraken impresses
EnQuest said today its debt had risen and full-year production would be in the lower half of its guidance range of 57-63,000 barrels per day.
Updated: EnQuest bosses says recent footprint shrinkage part of ‘natural cycle’
EnQuest bosses said today that the recent shrinking of the firm’s UK North Sea footprint was just part of the “natural cycle”.