Shareholders look set to lose their entire investment in Hague and London Oil (HALO) as the southern North Sea-focused explorer and producer is wound up.
Oil and gas firms Neptune Energy and Spirit Energy have patched up their differences over the Pegasus West discovery in the southern North Sea.
More than a dozen UK North Sea projects are facing deferral in light of the oil price drop, an analyst has predicted.
The UK oil industry's regulator has advised Spirit Energy to keep looking for alternative export routes for its Pegasus project after the path to its first choice was blocked.
The Oil and Gas Authority (OGA) has intervened in a commercial dispute between two operators which has led to the delay of a new North Sea project.
Hague and London Oil (Halo) said today that it had received regulatory consent for its acquisition of Third Energy Offshore.
Hague and London Oil (Halo) has agreed to buy Third Energy Offshore in a move that will beef up its southern North Sea portfolio.
Centrica has said a project by a group of oil and gas companies to unlock small pools in the southern North Sea is progressing at pace.
Third Energy has been awarded two operator licences in the 14th onshore licensing round announced 17 December 2015.