Waldorf not for sale as North Sea outlook improves
Waldorf Production dismissed suggestions the company is for sale, outlining a rise in production and cash flow amid an ‘improving’ outlook for North Sea M&A.
Kraken
EnQuest takes first half loss, calls for government action
"The UK's oil and gas sector faces significant challenges and loss of competitiveness due to uncertainty following the adverse changes to the fiscal regime,” said EnQuest CEO Amjad Bseisu.
Waldorf revises production guidance after several North Sea assets hit with problems
Waldorf Production has shed light on a raft of production issues that have hit several of its North Sea assets this year.
Bumi Armada profits dip on production issues at Kraken FPSO
Major production issues at the North Sea Kraken FPSO have hit vessel owner Bumi Armada in the group's pocket.
Kraken production returns to ‘pre-shutdown levels’ after overhaul
Work to overhaul transformers on board the Kraken FPSO has restored production levels, according to an update from vessel operator Bumi Armada.
The Kraken Wakes! North Sea FPSO returns to production following shut down
The Kraken FPSO is back to around 90% production following a hydraulic pump failure that caused work to stop earlier this year.
North Sea FPSO offline after critical equipment failure
Bumi Armada confirmed that production at the Kraken FPSO has been shut in following a hydraulic pump failure.
EnQuest shelves Kraken drilling in response to windfall tax changes
Operator EnQuest (LON: ENQ) is to defer drilling at its Kraken field following last year’s changes to the North Sea windfall tax.
‘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.
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.