North Sea firm Decipher to ‘maximise value’ of Orlando oilfield
Oil firm Decipher Energy hopes to sanction a project to “maximise the value” of the Orlando field in the northern North Sea early next year.
Atlantic Petroleum
Orlando to come on stream before end of March
First oil from the Orlando field in the North Sea should be achieved before the end of March, a former project partner said.
Atlantic heads back to profit
Atlantic Petroleum, a Faroese oil and gas exploration and production firm with interests in UK, Irish and Norwegian waters, said yesterday it was heading back to profitability after losses in 2016.
Atlantic completes sale of 25% stake in Orlando
Atlantic Petroleum said today it had completed the sale of a 25% stake in the Orlando oil field north-east of Shetland to North Sea newcomer Decipher Energy.
New role for former UK energy minister
Former energy minister Charles Hendry has landed a new job as deputy chairman of Atlantic Petroleum.
Decipher lands North Sea Orlando deal
North Sea start-up Decipher Energy has confirmed a deal to buy up North Sea assets out of administration.
Atlantic Petroleum boss: We’ll ‘never say never’ to North Sea return
Atlantic Petroleum’s boss said yesterday that the firm would “never say never” to investing in the UK North Sea in future, despite pressing ahead with plans to exit the basin.
Atlantic Petroleum looks for ‘new start’ as losses narrow in 2016
Atlantic Petroleum’s boss said today that the company planned to make a “new start” after losses narrowed significantly in 2016.
Atlantic to sell Orlando stake in return for revenue share
North Sea independent Decipher Energy has struck a deal to buy a 25% stake in the Orlando oil field north-east of Shetland.
Atlantic sells stake in North Sea Orlando for $1m
Faroe-based Atlantic Petroleum has struck a deal to sell its take in the North Sea Orlando licence to a former boss at First Oil for $1million (£822,300).
Iona administrators target sale by end of January
Iona Energy’s administrators hope to complete the sale of the defunct company’s shares by the end of January 2017.
Atlantic Petroleum boss says low costs, rising oil prices bode well for North Sea Orlando field
Atlantic Petroleum’s boss said yesterday that lower contractor costs and rising oil prices had boosted the prospects of the North Sea Orlando field.
Atlantic Petroleum takes over operatorship of North Sea licences from Iona
Atlantic Petroleum has been chosen to operate the North Sea Orlando and Kells licences, which are 75% owned by now-defunct Iona Energy.
Atlantic Petroleum picks former Fairfield boss for board
Atlantic Petroleum has appointed a former Fairfield Energy chief exec as a candidate for its board of directors.
Orlando asset up for grabs once again after Bridge pulls out of deal
Atlantic Petroleum said it has been advised by Bridge Petroleum that it is unable to complete the the transaction for a 25% share of the North Sea Orlando asset.
Parkmead armed with “tonnes of firepower” for North Sea acquisitions
Aberdeen-based Parkmead Group has “tonnes of firepower” left for acquisitions after doubling its stakes in two North Sea fields, the oil and gas firm’s boss said yesterday.
Atlantic Petroleum enters deal for 25% stake in Orlando development
Atlantic Petroleum said it has entered into a sale and purchase agreement with Bridge Petroleum for its 24% interest in the Orlando development.
Struggling Atlantic Petroleum to exit from North Sea
A Faroese oil and gas explorer which has struggled under the weight of low oil prices plans to offload its entire UK North Sea portfolio. Atlantic Petroleum chief executive Ben Arabo said yesterday that while the basin is “not dead”, the company sees better opportunities further afield. Mr Arabo said the firm would switch its attention to projects in Eastern Europe and Eurasia, adding that a newly-agreed loan facility would keep the business afloat.
Atlantic Petroleum says it needs cash injection to stay afloat
Atlantic Petroleum's boss said the company needed cash to stay afloat as the as the company reported a net loss of of £59.4million (DKK564million) in the last year and revealed headcount had fallen by 85%.
Atlantic Petroleum fails to make debt repayment to Eik Bank
Atlantic Petroleum said the company will not be paying a debt instalment to Eik Bank in the Faroe Islands this month. The company said the the amount of DKK19.55mm on its DKK58.5MM debt will not be met.
Atlantic Petroleum remains uncertain about future
Atlantic Petroleum has warned that it still faces the prospect of going bust if a solution cannot be found following the collapse of Iona Energy and the North Sea Orlando field prospect.
Iona Energy boss hopeful a buyer can be found for North Sea’s Orlando prospect
The boss of defunct oil junior, Iona Energy, said he remained hopeful a buyer can be found for the Orlando oilfield in the North Sea, despite a deal that would have saved the company falling through at the last hurdle.
Atlantic Petroleum postpones financial results following collapse of North Sea partner
Oil and gas firm Atlantic Petroleum has postponed its financial results and hired an investment bank to find it a new backer as its partner on a North Sea field dices with bankruptcy. Faroe-Islands-based Atlantic has a 25% stake in the Orlando Field, located north-east of Shetland, which was expected to start producing by the end of 2016.
Iona Energy facing insolvency after restructuring deal falls through
North Sea oil company Iona Energy is facing insolvency after a proposed restructuring deal fell through.
North Sea-focussed Iona gets more time
Iona Energy, the North Sea-focused oil & gas company, has had amendments to proposed restructuring plan approved at a meeting by bondholders today.