Orcadian says Elke North Sea prospect has potential to be ‘bigger than Pilot’
Orcadian Energy CEO also said first oil could be achieved at its Pilot development by 2028
Orcadian Energy CEO also said first oil could be achieved at its Pilot development by 2028
Ping Petroleum has completed its farm-out deal relating to the Pilot field in the North Sea with Orcadian Energy (AIM:ORCA).
Orcadian Energy has published further details on its development plans for new licences, including at Fynn Beauly where it hopes to use geothermal heat to help produce heavy oil.
17 companies scooped licence offers in the latest tranche of awards as part of the 33rd round, with plans for some prospects already in the works.
The second tranche of the 33rd offshore licensing round sees 17 companies awarded North Sea licences
Plans would see a converted jack-up used to house power and CCS equipment, with electricity output tied into a nearby wind substation.
Fresh from securing a farm-out deal, Orcadian Energy boss Steve Brown points to the strategic advantages of a new floating development at Pilot in the central North Sea.
Orcadian Energy has confirmed Ping Petroleum has become its farm-in partner on the Pilot field, concluding long-running negotiations over the future of the North Sea development.
Orcadian (AIM: ORCA) has agreed a a seven day extension with a potential operator on its P2244 licence in the Pilot field.
Orcadian Energy has announced the North Sea Transition Authority (NSTA) is prepared to grant a two-year extension on its P2244 licence in the Pilot field, subject to certain conditions.
Orcadian Energy has completed a further share issue, raising funds to progress a proposed farm-out deal and pay off debts.
Orcadian Energy (AIM: ORCA) has entered into a provisional agreement with an operator on a potential farm-in to its £1bn Pilot project in the North Sea.
A small North Sea player has been granted a lifeline loan extension from Shell.
More than 5,000 km2 of North Sea exploration acreage was surrendered today as deadlines for licences hit the industry.
Orcadian Energy (AIM: ORCA) has been forced to give up a 25 million-barrel North Sea discovery after the NSTA regulator stepped in.
North Sea operator Orcadian Energy (LON: ORCA) has successfully raised £500,000 by means of a share placing on the London Stock Exchange.
A firm developing the Fyne oilfield in the North Sea has agreed terms to buy up a pair of discoveries from developer Orcadian Energy (LON: ORCA).
Reprocessed seismic data has led to a nearly 20% increase in mid-case recoverable resources at Orcadian Energy’s Pilot field, offering further incentive to potential farm-out partners.
Orcadian Energy will look to the INTOG offshore leasing round to help progress its flagship Pilot development, chief executive Steve Brown said, as the firm looks to make headway in 2023.
Orcadian Energy (LON: ORCA) has signed a pact with SLB (NYSE:SLB) to deliver dozens of wells on its flagship Pilot field in the North Sea.
Orcadian Energy (AIM:ORCA) has been granted a one-year extension to licence P2244 containing its flagship Pilot field, giving it further time to find partners and finalise a development decision.
A North Sea oil and gas company has taken aim at the shadow climate and net zero secretary after he reinforced Labour’s opposition to new drilling.
A North Sea oil boss has taken a swing with Nigel Farage at City of London investors for a lack of support towards the sector amid the transition.
North Sea companies have hailed the new prime minister’s decision to side with the oil and gas industry.
Orcadian Energy (AIM:ORCA) has executed a formal agreement with Carrick Resources which will see the latter farm in to a 50% share of its Carra prospect in exchange for further seismic interpretation.