Partners in the Wick prospect in the Moray Firth said today that the exploration well was a failure.
Drilling has started on an exploration well in the Moray Firth, believed to hold up to 26million barrels of oil equivalent.
Tunisia has accepted Upland Resources' application for an exclusive licence for onshore hydrocarbon exploration and appraisal.
Partners behind the Wick oil field project in the Moray Firth said today that they had taken a major step towards drilling an exploration well.
Upland Resources has announced plans to raise £3million to help pay for the costs of drilling a 250million barrel prospect in the Moray Firth.
Higher fuel costs have driven up the cost of drilling a well in the Moray Firth by £1million.
Corallian Energy has made a move to hire a rig for the drilling of the Wick prospect in the Moray Firth.
UK firm Fraser Well Management (FWM) has been hired to manage the drilling of a well in the Moray Firth.
A major entertainment business co-founded by Malaysian entrepreneur Tony Fernandes has completed an investment of £1million in Upland Resources.
London-headquartered Baron Oil said today it had come to an “option agreement” to buy part of the Wick prospect in the Moray Firth.
Upland Resources’ boss said yesterday that “the cash is there” for a rig to drill a well in the Moray Firth after picking up investment from a major entertainment corporation.
Upland Resources said today that a bid to drill a well off the north-east of Scotland has taken a big step forward.
Upland Resources has terminated its agreement to buy a 10% stake in the Wressle project after Lincolnshire authorities refused planning applications to develop the discovery.