Shell hands back licence next to major Pensacola find – in blow for Reabold
Shell (LON: SHEL) has given up on a Southern North Sea prospect, despite it being located directly next to the region’s largest find in a decade.
Shell (LON: SHEL) has given up on a Southern North Sea prospect, despite it being located directly next to the region’s largest find in a decade.
Shares in London-listed Deltic, holder of 30% of the licence, soared in mid-morning trading as investors reacted to the news.
Norway has had a run of oil and gas exploration discovery success which has served to underline the lack thereof for its UK neighbour.
Skerryvore is slated for 2024, the Devil’s Hole is on the way, the Bens disappoint, but there’s been some high-impact success too.
There's been numerous cases over the last decade in UK North Sea exploration where company estimates have been way off the mark.
Deltic Energy (LON: DELT) looks to drill a "similar sized prospect to Pensacola in the summer of 2024".
As far as discoveries go, uncovering over 300 billion cubic feet (bcf) of gas and the decade’s largest find isn’t half bad in an increasingly wizened basin.
As of 24 February, Westwood Global Energy reports that there are two exploration wells, with one each in the NNS and SNS, and one appraisal well active in the CNS. Since the previous report, one exploration well has completed at Orlov.
Hot on the heels of the largest discovery in a decade for the Southern sector, Deltic Energy (LON: DELT) is seeking partners of its next North Sea prospect.
Horizon Energy Partners is making the most of the current Southern North Sea buzz, following Shell’s (LON: SHEL) milestone success in the region.
The largest discovery in a decade for the region will now open up more than a dozen other prospects in the Southern North Sea.
Deltic Energy has reported a significant gas and oil discovery at the Shell-operated Pensacola prospect in the Southern North Sea.
As of 27 January, Westwood Global Energy reports that there are three exploration wells active, with one in the NNS, one in the CNS and one in the SNS. Since the previous report, one well has completed at North Eigg and one appraisal well completed at Isabella.
A gas find from Shell (LON: SHEL) and Deltic Energy (LON: DELT) could prove very positive for other players with exploration targets in the Southern North Sea.
Partner Deltic Energy saw its share price rocket by 50% on the news.
Reabold Resources has confirmed the completion of its acquisition of Simwell Resources, a privately held explorer with several southern North Sea licences.
Plays by Shell (LON: SHEL), TotalEnergies (LON: TTE) and Ithaca Energy (LON: ITH) are listed amongst Wood Mackenzie’s UK North Sea wells to watch.
A key exploration well from Shell (LON: SHEL) and Deltic (LON: DELT), which could open up a dozen other licences in the Southern North Sea, is “imminent”.
Shareholders in Reabold Resources have put their faith in the North Sea firm’s board to deliver on their promises, snubbing an attempt to replace them.
Bosses at Reabold Resources (LON: RBD) have pleaded with shareholders to “stick with” them ahead of a crunch vote next week.
Reabold Resources (LON: RBD) has announced plans to farm-in to a Shell North Sea licence near the hotly-tipped Pensacola prospect to be drilled next month.
As of 26 September, Westwood Global Energy reports that there are three exploration wells active, with one in the CNS and two in the NNS. Two appraisal wells are currently active in the CNS. One well completed at Diadem.
Reabold Resources has announced a conditional offer to acquire Simwell Resources, a privately held explorer with several licences across the southern North Sea.
London-listed Deltic Energy (LON: DELT) has announced plans to carry out a fundraise in order to support its ongoing and future activities.
A Shell (LON:SHEL) exploration target in the North Sea has been named among Westwood Global Energy Group’s ‘key wells to watch’ for the rest of 2022.