Maurel to sell Tanzania stake in Mnazi Bay to close slow-moving deal
Maurel CEO Olivier de Langavant welcomed the “partnership with TPDC that will reinforce the basis for the mutual benefit of the next phase of development at Mnazi Bay”.
Mnazi Bay
Wentworth sale to Maurel squeaks past shareholders
Wentworth held its vote yesterday, with 75.26% of shares voted in favour of the scheme. The deal required 75% approval.
Wentworth deal on the rocks with Fidelity’s “no”
Wentworth has said cashflows in 2023 will be much reduced - making now an ideal time to sell out to partner Maurel.
Maurel makes all-cash offer to acquire Wentworth
Maurel et Prom has made an offer to acquire Wentworth Resources, its partner at a Tanzanian gas project.
Wentworth sets net zero plan as production rises
Wentworth Resources has posted another strong set of results with revenues up 26% on higher production.
Higher oil prices pay off for Maurel
Maurel et Prom has reported production slipping 5% in the first nine months of the year, even while revenues increased 42%.
Maurel plans 2021 production boost
Maurel et Prom intends to restart drilling in Gabon, on its Ezanga permit, this summer in a bid to recover production losses.
Wentworth ups dividend, seeks new opportunities
AIM-listed Wentworth Resources’ production dipped in 2020, but revenue was largely flat and the company has upped its dividend.
Gabon production cuts hit Maurel
Maurel et Prom’s production fell in the first nine months of 2020, although its acquisition of Angolan assets helped avoid too great a reduction.
Mnazi Bay output to rise
Mnazi Bay production will increase for the rest of the year, following the end of the rainy season.
Rain eats into Orca’s Q1 sales
Gas sales by Orca Exploration in Tanzania fell in the first quarter as higher than normal rainfall boosted hydropower generation.
Uganda-Tanzania pipeline construction planned for 2021
Work on the East Africa Crude Oil Pipeline (EACOP) is expected to begin in April following a final investment decision (FID), according to a budget speech from the Tanzanian Minister of Energy.
Gas sales keep Wentworth on plan for dividend
Demand for Wentworth Resources’ gas in Tanzania will stay flat this year, with heavy rains driving hydropower generation, but things should pick up towards the end of 2020.
Higher production drives Maurel’s income
Maurel et Prom’s income increased in 2019 as a result of increased production, while the sales price fell marginally.
Mnazi Bay to hold steady in 2020
The Mnazi Bay field in Tanzania produced 70.29 million cubic feet (1.99 million cubic metres) per day in 2019, according to Wentworth Resources, predicting output would remain static in 2020.
On the up in Tanzania for Wentworth and Orca
Tanzania has struggled to pay its debts to local gas producers but there are signs this is changing, with Wentworth Resources and Orca Exploration posting strong quarterly results on improved collections and higher gas demand.