London-listed Nighthawk Energy has made a £13.8million sale of its assets after having filed for bankruptcy.
Releasing their unaudited interim results for the six month ending 30 June, Nighthawk Energy reported a slight fall in oil sales, production and total revenues.
Nighthawk Energy has successfully negotiated a new lending deal with the Commonwealth Bank of Australia.
Nighthawk Energy, the US focused oil development and production company has received unconditional approval from Colorado authorities to progress its water flood project at Arikaree Creek.
Nighthawk Energy, the UK listed, American focused independent producer blamed falling production and low prices for its $72million loss for the financial year.
Nighthawk Energy's water flood project in Colorado has secured sufficient approval from third-party owners for the Arikaree Creek water flood project in Colorado.
Nighthawk Energy has been given conditional approval by Colorado authorities to carry out its water flood programme on the Smoky Hill project.
Oil and gas independent Nighthawk Energy has secured a further extension to its reserve-based lending facility waiver.
Nighthawk Energy said its revenue for 2015 are likely to be "significantly higher" than market expectations, despite production dropping from the previous year.
US-focused Nighthawk Energy said a hearing to consider its proposed water flood project in Colarado has been delayed.
US-focused Nighthawk Energy has completed negotiations with its banking partner, Commonwealth Bank of Australia, resulting in a series of amendments to its reserve based loan covenants.
US-focused oil company Nighthawk has revealed it has breached covenants under the company's reserve loan with the Commonwealth Bank of Australia.
Nighthawk Energy said it has plugged and abandoned the Happy Jack 7-10 well in the Monarch joint development area. The company said the well, which was spudded last month, was drilled to a total depth of 8,400 feet. The well encountered oil shows in the Marmaton and Cherokee zones within the Pennsylvanian section.
UK independent Nighthawk Energy is looking extend its drilling programme in the US with two new wells due to spud by the end of November.
Nighthawk has said it is disappointed with drilling results from its main Colorado asset, although its Arikaree project may far exceed original expectations
Nighthawk, the US focused oil development and production company, said reduced oil prices and lack of drilling had an impact on its half-year results with both revenue and profits down.