Drilling contractor Awilco crashed to pre-tax losses of $156 million in 2020, widening from a deficit of $30m in 2019 and driven by impairments and cancelled rig construction deals.
UK oil and gas firm Serica Energy has managed to extend a US sanctions waiver for its Rhum gas field in the northern North Sea.
Bosses at Serica said today that work to bring a third well at the Rhum field into production has run into “frustrating” and costly delays.
Serica Energy has started work to boost production at its Rhum field, while the 13million barrel Columbus project has been delayed to the second half of 2021.
Serica Energy’s boss said today that maintaining an “extremely low cost base” was a key factor in the company’s delivery of profits in the first half of 2020.
Serica Energy has announced its maiden dividend to “reward shareholders” despite the challenges of Covid-19.
Serica Energy’s 13million barrel Columbus gas project in the North Sea is facing potential delays due to the Covid-19 outbreak.
Serica Energy has hailed “exceptional” results after nearly tripling its pre-tax profits in its first full year of operatorship for its Bruce, Keith and Rhum (BKR) assets in the North Sea.
Serica Energy has restarted its Bruce platform after a five-week shutdown following the discovery that an underwater structure had become “deteriorated”.
Awilco Drilling has signed a letter of intent with Serica Energy for the provision of WilPhoenix for a one well workover on the Rhum field.
Serica Energy’s boss has said the firm is “well equipped” to withstand the two-month shutdown of its main producing assets in the UK North Sea.
London-listed oil firm Serica Energy expects to announce its maiden dividend in April following a year of “strong performance”.
Serica Energy’s boss has said the gains squeezed by his team from North Sea fields acquired a year ago show smaller companies can be more efficient.
North Sea operator Serica Energy has secured a way to protect its Rhum field from US trade sanctions until 2021.
The Oil and Gas Authority has offered up fresh acreage near the Rhum field in the Northern North Sea.
Oil firm Serica Energy has announced a second deal in two days for stakes in the Bruce and Keith fields in the UK North Sea.
Serica Energy is closing in on two acquisitions after the US granted a waiver removing production obstacles on a UK North Sea field.
Serica Energy said today that the US had granted a conditional licence removing restrictions on production from a UK North Sea field.
The US has issued an interim licence to nullify restrictions on production from a UK North Sea field.
BP’s decision to delay work aimed at increasing production from the Rhum field because of US sanctions on Iran is “good news” for Serica Energy, analysts have said.
Serica Energy said today that it remains "fully committed" to buying BP's interests in a North Sea field co-owned by Iran.
Serica Energy’s acquisition of stakes in a North Sea field co-owned by Iran is likely to go ahead despite the US’s withdrawal from an international pact, an analyst has said.
A North Sea field being sold by BP could test US policy towards Iran, a news report said.