Whalsay records big impairment on Bentley field amid Covid-hit sales process
Whalsay Energy booked an impairment charge of £52.7 million ($69m) on its Bentley field based on offers it received as part of a Covid-hit sale and farm-out process.
Xcite
Whalsay chief to pick development concept for Bentley in Q3
Whalsay Energy’s boss has said the firm will pick a development concept for a 300 million barrel North Sea field in the third quarter of 2018.
Xcite Energy still on the hunt for North Sea partner for Bentley
Xcite said it has received an extension to the maturity of senior secured bonds granted until the end of September this year as it revealed its results for the first six months of 2016.
Xcite wins more breathing space for Bentley
Xcite Energy has won a further stay of execution in its battle to keep funding requirements manageable amid continuing low oil prices.
Xcite gets some Bentley breathing space
Xcite Energy said yesterday it had won some breathing space to sort out financial arrangements for its Bentley project in the UK North Sea.
Xcite Energy extends licence for Bentley field
Xcite Energy said its licence containing the Bentley field has been extended until June next year after approval from the OGA (Oil and Gas Authority) and DECC (The Department of Energy and Climate Change).
Xcite agrees farm-in for UKCS licence
Xcite has agreed a farm-in deal with Azinor Catalyst for its UKCS licence.
Xcite hunts partner to finance Bentley field
Oil and gas explorer Xcite Energy said it is still seeking out additional partners to help fund its Bentley Field project amid an industry-wide slowdown in project financing. The Aberdeen-headquartered firm yesterday posted losses of £5million for 2014, against profits of more than £9million a year earlier. Xcite had no revenues to report, as the 300million-barrel Bentley Field, which lies south-east of Shetland, has yet to start producing. In August the firm described the field as one of the North Sea’s largest untapped resources with the potential to produce more than 700million barrels of oil over 35 years.
Xcite Energy signs Bentley Field MOU with COSL
Xcite Energy has signed a Memorandum of Understanding (MOU) with China Oilfield Services Limited (COSL) to provide a harsh environment jack-up drilling rig for its Bentley Field. The company said COSL will work in a collaborative manner in a bid to maximise recovery from the field. The work will also include equipment and personnel to work on the field in the UK North Sea.