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.
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 (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.
Orcadian Energy (AIM: ORCA) has announced the successful raising of £1 million to help progress development of its Pilot project in the North Sea.
Orcadian Energy has signed a new deal with energy data group TGS, which will see it gain access to 3D seismic data across several of its licences in return for a share of future production royalties.
Costs for a planned new North Sea oilfield could be shaved by 75% with new tax incentives, the firm behind it has claimed.
Orcadian Energy has been granted more time with one of its North Sea licences after “extensive talks” with the regulator.
Orcadian Energy is “looking at around about $900 million to get to first oil” for the Pilot field in the central North Sea.
North Sea oil firm Orcadian Energy intends to raise £5 million via an initial public offering (IPO) in London.
The boss of North Sea oil firm Orcadian Energy says his team is making “great strides” on an 80 million barrel project after casting aside the original development idea.
Rivers State Governor Nyesom Wike has personally overseen the arrest of two pilots from Caverton Offshore Support Group for illegally moving people into the Nigerian state.
A project that would employ a pioneering heavy oil recovery technique in the North Sea has edged a step forward.
A relatively newcomer to the North Sea is steaming ahead with plans to revolutionise the recovery of heavy oil from the North Sea.
SBM Offshore has won a contract with EDF for work on a pilot floating windfarm for its Provence Grand Large project.
GE Oil & Gas has created a new Oil & Gas Digital Solutions business as well as the development on a new pilot program with BP.
The Queen is hunting for a £78,500-a-year helicopter pilot - twice as much as Prince William is getting paid as he guides his ambulance chopper on mercy missions. The job is being advertised on the British Monarchy website which says - given the status of the passengers - it is "highly desirable" that candidates have "VVIP experience." The Royal Family is full of helicopter pilots. Prince William was a search and rescue pilot at RAF Valley in Wales - before starting his new job last year as a pilot with the East Anglian Air Ambulance.
North Sea helicopter operator CHC is leading the way with innovative new technology offshore. The company has replaced paper documents to create an Electronic Flight Bag (EFB). It combines pilot logs, flight procedures and other documents in the field onto one tablet device which pilots can use when flying to different North Sea destinations.
Energy minister Fergus Ewing will today accuse his UK counterpart of “mismanagement” of North Sea oil and demand urgent reform. Fergus Ewing is expected to meet UK energy minister Matt Hancock at a meeting of Pilot, an oil and gas taskforce which brings together government and industry representatives, in London. Speaking ahead of the meeting, Mr Ewing said: “The oil and gas industry is a strong success story for Scotland and will continue to be.