Catcher first oil ‘accelerates’ Premier’s debt reduction drive
Premier Oil’s debt reduction drive will “accelerate” at current oil prices as production from its Catcher field ramps up, the firm said today.
Catcher
Premier Oil achieves first oil from Catcher area
Premier Oil said today that it had reached first oil from the Catcher area in the North Sea.
Premier Oil successfully hooks-up Catcher FPSO
Premier Oil today confirmed it had successfully hooked-up its BW Catcher Floating Production Storage and Offloading (FPSO) vessel.
PJ Valves appoint Tien Do as group operations director
Manufacturer and supplier of valves to the energy industry, PJ Valves (PJV), hire Tien Do to oversee global operations as group operations director.
Premier Oil’s Catcher FPSO arrives
The floating production, storage and offloading (FPSO) vessel for the Catcher field in the UK North Sea has arrived in the Cromarty Firth.
Premier Oil’s Catcher FPSO sets sail for North Sea
Premier Oil’s Catcher FPSO has commenced its maiden journey to the North Sea, it was today confirmed.
Premier ‘ahead of plans’ to restore financial health as H1 output jumps
Premier Oil boss Tony Durrant said yesterday the North Sea operator was “ahead of plans” to restore its financial health after notching up record first-half production levels.
Cairn Energy profits rise as company reaps Kraken rewards
Scottish oil firm Cairn Energy said production start-up from the North Sea Kraken field had steered the firm to a strong first half.
Premier Oil boss hails “growth opportunities” after billion barrel find
Premier Oil posted a strong half year result, after confirming its one billion barrel find with Talos Energy.
Premier Oil boss says “we are ahead of plan”, targets cash positive year, E.ON buy pays off
Premier Oil boss this morning said the firm was making strides towards a cash positive year.
Cairn Energy insists it’s financially fighting fit, zeroes in on North Sea first oil
Cairn Energy's chief executive today said the firm was well-positioned to deliver on behalf of its shareholders.
Premier Oil says lenders agree to refinancing terms
North Sea operator Premier Oil today announced that its private lenders had agreed to the terms of its long-awaited debt refinancing.
Lenders to have say in Premier Oil investment plans
Bosses at Premier Oil said yesterday that lenders were unlikely to block the firm’s plans to invest in new development projects.
Green lawyers report Cairn Energy to UK financial watchdog
An environmental law firm has reported Cairn Energy to the UK financial regulator, accusing the Edinburgh-based firm of “defective” reporting.
Premier Oil boss ‘searched soul’ over Solan woes
Late and over budget, the Solan development west of Shetland gave rise to a lot of “soul searching” at Premier Oil, the firm’s boss has admitted.
Cairn says Kraken and Catcher still on for first oil in 2017
Scottish oil explorer Cairn Energy said today the North Sea Catcher and Kraken fields are still on track for first oil in 2017.
Video: Offshore activity ramps up on Catcher
Offshore activity is ramping up on Premier Oil’s Catcher project in the North Sea, with all three Pipeline Bundles now successfully installed.
‘We’ve got the cash to fund Catcher and Kraken’ , insists Cairn Energy
Cairn Energy today insisted despite a depressed Brent price, the firm was in a “robust financial position” and able to push ahead with the North Sea’s Catcher and Kraken developments.
Cairn’s North Sea Catcher and Kraken on-time and under budget
Cairn Energy today confirmed both its Catcher and Kraken projects, both in the UK North Sea, remained on track for first oil next year.
Premier says Solan project on track, further cost savings in 2016
Premier Oil said its Solan project is on track to produce its first oil by the end of the year off the west coast of Shetland. The company said it was also ready for first oil from the Catcher project in 2017 as it posted its results for the first 10 months of the year. The progress of the Solan field will be “subject to weather” in the UK North Sea.
Subsea 7 sees revenue drop by $702million
The boss of Subsea 7 has said the fundamental long-term outlook for deepwater subsea field developments remains intact despite the company reporting $702million lower revenue in the third quarter of 2015 compared to the same period 12 months ago.
Cairn focused on one billion barrel oil prize, North Sea remains “attractive” market
Cairn Energy remains focused on the billion barrel oil prize that is within reach from its discovery in West Africa.
Premier Oil cuts operating costs by 30%, closes in on Solan and Catcher first oil
Premier Oil has cut its operating costs by 30% as a challenging marketplace sees its turnover slide. The firm reported total revenues for the first half of the year topped out at $580million – down from last year’s $885million. The dip triggered Premier to cut its operating costs by 30% - down to $150million. The company credited the sale of the “high cost Scott area in the UK” for the part of the savings.
Cairn Energy makes 40% reduction to headcount
Cairn Energy has made reductions to its staff cutting 40% of its headcount in both full-time employees and contractors. The company made the announcement in a pre-close update in which it said its 2015 focus would be on an appraisal and exploration programme in Senegal. Cairn is currently still engaged in discussion with the Indian Tan department as it struggles to gain access to the value of its 10% share of Cairn Energy.
Dyna-Mac lands FPSO work on Catcher field
Singapore-based Dyna-Mac has been awarded a contract worth a preliminary estimate of $89million to construct FPSO topside modules and one flare tower for BW Offshore. The company’s prepatory work is for the vessel which will operate at Premier Oil’s Catcher oil fields in the North Sea.