Whalsay Energy is seeking partners to help it develop the Bentley field in the UK North Sea.
Industry veteran Paul Warwick will spearhead efforts to develop one of the North Sea’s largest undeveloped discoveries, the Bentley field.
Liquidators are still on course to sell off one of the North Sea’s biggest undeveloped discoveries before the licence expires at the end of June.
Liquidators are confident they will wrap up the sale of one of the North Sea’s biggest undeveloped discoveries before the licence expires.
The sale of Xcite Energy looks set to drag on after liquidators said they were still working on a deal.
Liquidators are closing in on the sale of one of the North Sea’s largest undeveloped discoveries.
Xcite Energy has has appointed liquidators in a bid to seek a fast sale, it was today confirmed.
A non-executive director has left embattled North Sea firm Xcite Energy.
Xcite Energy said Liberum Capital has agreed to resign as nominated adviser and broker to the firm with immediate effect.
Norwegian oil and gas giant Statoil has been touted as a potential bidder for troubled Xcite Energy’s Bentley field in the North Sea.
Xcite Energy’s slide towards liquidation could lead to the collapse of North Sea supply chain companies, an energy finance expert said yesterday.
Xcite Energy is facing liquidation after bondholders rejected a debt for equity swap.
A shareholder in Xcite Energy has described himself as "one of the luckier ones" after losing an estimated £25,000.
Energy finance expert Colin Welsh said yesterday that the disarray at Xcite Energy was part of the impending North Sea liquidity crisis he warned of earlier this year.
Bondholders of the owner of a key North Sea field have rejected a restructuring plan and have moved to call in liquidators.
Xcite Energy enjoyed a small share price recovery after it agreed a deal with owners of its £100million debt pile.
Xcite Energy shares dived yesterday after the company said bondholders would pursue enforcement action over their loans unless a restructuring of the financial terms hands them near-100% ownership.
Shares in Xcite Energy plunged almost 70% last night after the firm warned a planned restructuring would see shareholders’ stakes nearly wiped out.
Xcite Energy was forced to issue a statement today after its stock shot-up after a steady month of decline.
Xcite Energy has been seeking out partners to help fund its North Sea Bentley Field for months amid an industry-wide slowdown in project financing.
Xcite Energy (Lon:XEL) will hold its Annual General Meeting this month as it continues to seek out a partner for its Bentley field development and continues negotiations for a possible bond restructuring.
Xcite Energy has had a shake-up to its staff as it looks to review its overhead costs.
Oil company Xcite Energy has confirmed Nordic Trustee has called a bondholders' meeting to be held later this month.
Shares in oil company Xcite Energy are under pressure after the announcement of first quarter results did little to allay fears surrounding its debt obligations that mature at the end of next month.
Xcite Energy said the Alberta Securities Commission and other regions, including British Columbia and Ontario, have confirmed the company is no longer a reporting issuer in any jurisdiction in Canada.