Exiting Egypt, United’s Larkin eyes a return to deal making
“The first target has an NPV of $4bn, for a $30mn well. We know it’s frontier exploration and the chance of success is maybe 20%, but it stands up.”
E&P
Who won? A look at the latest North Sea licences being dished out by NSTA
The second tranche of the 33rd offshore licensing round sees 17 companies awarded North Sea licences
Hartshead Resources agrees ‘financing backstop’ for Anning and Somerville gas field developments
Hartshead Resources (ASX:HHR) has announced a deal for a 'financing backstop' worth A$800 million (£415m) to progress the first phase of the Anning and Somerville developments in the North Sea
Ithaca expects Cambo approval to follow Rosebank path
"Ultimately political and regulatory processes will work through to get the right answer."
Shell’s Victory move highlights ‘clear tax incentive’ from EPL investment allowance
Tax incentives associated with the Energy Profits Levy may have encouraged Shell to move its Victory plans forward.
Buchan: NEO hits milestone on UK’s third-largest upcoming oil and gas project
Operator NEO Energy submits environmental statement for Buchan redevelopment in Moray Firth.
Deltic stake in Shell’s Pensacola discovery valued at $200m
An analyst firm has put Deltic Energy’s stake in the Shell-operated Pensacola discovery in the North Sea at $200m.
First Minister voices opposition to imminent new North Sea licences
"That, to me, is a demonstration that they’re not really serious about tackling the climate crisis.”
Government delays North Sea legislation due to lack of Commons time
Government legislation designed to maximise North Sea oil and gas production has been delayed to avoid it being rushed through its first stage in 45 minutes.
New North Sea licences will make ‘little difference’ to UK energy security, claims think tank
North Sea oil from new exploration licences sent to domestic refineries would account for less than 1% of the fuels used in the UK in 2030, a think tank has found.
Quitting net zero tsar Skidmore is wrong on North Sea oil and gas, says Hunt
The Chancellor has hit back at the former net zero tsar after he quit the Conservatives over the Government’s decision to increase domestic oil and gas drilling.
Australia’s Finder Energy estimates 206 million boe at North Sea Boaz prospect
Australian oil and gas explorer Finder Energy (ASX:FDR) has outlined details of its Boaz gas prospect in the Central North Sea.
Shell and Deltic take investment decision on Pensacola appraisal
Shell (LON: SHEL) and Deltic Energy (AIM: DELT) have taken a well investment decision on their planned appraisal of the Pensacola discovery.
Environmental groups launch legal challenges against Rosebank approval
Uplift and Greenpeace will challenge the decision to approve Rosebank on the basis of downstream emissions, legally binding net zero targets and impacts to marine life.
Perenco announces near-field gas discovery at Ravenspurn South
Perenco UK has announced a near-field discovery at the Ravenspurn South field, located approximately 40 miles off the coast of Flambrough Head in Yorkshire.
Finder Energy uncovers potential ‘analogue’ to UK’s giant Buzzard oilfield
A potential 150 million-barrel field has been uncovered next to the UK’s giant Buzzard project in the Central North Sea, it’s been claimed.
Deltic eyes farm-down on on Shell-partnered North Sea projects
Deltic Energy (AIM: DELT) is mulling a farm-down of its stake in a pair of Shell-operated (LON: SHEL) North Sea targets and have received “a considerable level of interest”.
EnQuest hires rig to return Kraken oilfield to drilling in 2025
Magnus has overtaken Kraken as UK-focused EnQuest’s top producer following an outage this year.
Serica Energy acquires 30% interest in Greater Buchan Area from Jersey Oil and Gas
Serica Energy (LON: SQZ) has announced it will acquire a 30% non-operated interest in the North Sea's Greater Buchan Area development from Jersey Oil and Gas (JOG).
Dabinett: Horizon gets green light to drill high-impact North Sea target
Horizon Energy Partners has been given the regulatory green light to drill its high-impact Dabinett prospect in the UK North Sea, but has pushed the timeline to 2025.
Equinor UK boss warns North Sea investment at ‘all-time low’
The chief of Equinor's UK operations has warned investment in the North Sea is at "an all-time low" in meetings with the Scottish and UK governments.
Wood Mac: New UK licences need major discovery to ‘whet Shell’s appetite’
Shell (LON: SHEL) will need as much as one trillion cubic feet of gas from exploration licences in the West of Shetland to "truly whet its appetite", according to analysis by Wood Mackenzie.
Equinor makes gas discovery at Gina Krog field
Equinor has made a commercially viable gas discovery near the Gina Krog field in the North Sea, with production to potentially start as early as this year.
Valaris wins 55-well decommissioning deal with Eni UK
Valaris now has a contract backlog of $3.2 billion.
Petrogas set to drill pair of UK gas targets
Petrogas has set out plans to drill a pair of gas targets in the UK North Sea.