Ophir Energy has appointed a director of US firm Marathon Oil.
The board at London-listed oil firm Ophir Energy has rejected a takeover offer from Indonesian company Medco.
Shares in Ophir Energy climbed rapidly after the London-based exploration and production firm confirmed talks with a potential new owner.
Ophir Energy's chief executive is to step down from the company’s board with immediate effect.
London-headquartered oil firm Ophir Energy today revealed its decision to relinquish a licence in Cote d'Ivoire.
Ophir Energy is targeting a final investment decision for its Fortuna FLNG Project in Equatorial Guinea.
London-based Ophir Energy said today that Gunvor had been selected as the preferred buyer of LNG for offtake from the Fortuna project off Equatorial Guinea.
Ophir Energy said today that it would save $10-$12million a year by laying off 15% of its global workforce.
Ophir Energy’s chief operating officer role is to be cut as part of the company’s cost cutting measures.
Ophir Energy has signed a new $250million loan secured against the Group's producing assets in south-east Asia.
Ophir Energy said today that construction contracts had been awarded for the conversion of a vessel for its Fortuna FLNG project offshore Equatorial Guinea.
Ophir Energy said today that it had taken another step towards a final investment decision (FID) on Africa's first deepwater floating liquefied natural gas (FLNG) project.
An $80million exploration drilling campaign started today on two blocks operated by Shell off the coast of Tanzania.
Ophir Energy today said it would capitalise on the low cost environment by restarting its drilling campaign.
Ophir Energy today marked first production from its Kerendan field in Indonesia.
Sound Energy has received a $1.1 million cash boost from Ophir Energy after Ophir hit operational targets on the Bangkanai licence previously owned by Sound.
Ophir Energy’s chief executive said the upstream model of the past 10 years was “clearly broken” as the company reported a pre-tax operating loss of $376million.
Ophir Energy has chosen to exit a farm-out agreement of a number of blocks in the Seychelles.
African Petroleum has signed a new production sharing contract with Ophir Energy covering the company’s CI-513 licence area in Cote d’Ivoire. The new contract means Ophir Energy has a 45% interest and is operator of the asset while African Petroleum holds a 45% interest and the regions National Oil company the remaining 10%. Ophir Energy will make a $16.9million contribution towards African Petroleum’s back costs in relation to the block.
Ophir Energy said it encountered oil after completing operations on a wildcat exploration well in the Gulf of Thailand, but it was below the threshold for economic viability.
Ophir Energy said it will continue to reduce its capital expenditure and cost base into the next year as it looks to strengthen its balance sheet. The company, which said it was edging closer to agreement on the Fortuna project off Equatorial Guinea, expects its capital expenditure for 2015 to be around $250million.
Ophir Energy has completed operations on a wildcat exploration well on the Soy Siam prospect after it came up dry. The company said well reached a total depth of 1,627metres and encountered primary Miocene reservoir targets on prognosis in terms of quality and depth. However all reservoirs were dry and no hydrocarbons were encountered and the well has since been plugged and abandoned.
Ophir Energy has hit a number of dry wells in some of its Tanzanian offshore assets. The company said the Tende-1, which was drilled in East Pande by the Deepsea Metro I drillshop had shown no moveable hydrocarbons in the prospect. Initial gas traces had been captured in the upper strata of the primary objective.