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Northern Petroleum
Full Northern Petroleum profile hereNorthern Petroleum Plc is an oil and gas exploration, development and production company focused on the European Union and nearby areas. The Company is an operator of both onshore and offshore projects including a producing oilfield and boasts a management and technical team of the highest quality.
Northern Petroleum starts 3D acquisition over four West Sicily oil licenses
Northern Petroleum (AIM: NOP) has commenced 3D seismic operations on four licenses in the West Sicily thrust belt to obtain better quality and more complete definitions of structures identified by two previous 2D seismic campaigns, which the company said were “encouraging.”
The two month seismic campaign will cover the G.R17.NP, G.R20.NP, G.R21.NP and G.R22.NP licenses to acquire a total of up to 1,520 square kilomatres of 3D seismic. This will be a part of the work programme being funded by Shell Italia E&P S.p.A. (Shell) under the farm-in arrangement announced in December 2008.
Shell holds 55% in G.R17.NP and 70% in G.R20.NP, G.R21.NP and G.R22.NP.
The seismic acquisition has been contracted to Petroleum Geo-Services Asia Pacific-Pte Limited.
The joint venture between the two companies currently covers six offshore licences, G.R17.NP, G.R18.NP, G.R19.NP, G.R20.NP, G.R21.NP and G.R22.NP, making for a total area of 4,350 sq km in which a 2,300 km 2D seismic survey was recorded earlier this year.
Last week, Northern Petroleum brought its Geesbrug gas field in the Netherlands on stream to add 307 billion cubic feet of gas to production, marking the start of what it said will be a period of “satisfying revenue growth".
Earlier this week it completed drilling of the Tiendeveen-1 exploration well at the Drenthe III license in the Netherlands, looking to add to the production and reserves of the nearby Grolloo and Geesbrug fields.
Once the Netherlands projects come on stream, Northern’s operating cash flow is expected to increase, enabling a more active forward programme. The company is currently planning eight wells to test exploration and appraisal targets in Italy, the Netherlands and the UK.
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Northern Petroleum looks to pick up pace of development in Italy and the Netherlands
To this end, the company announced this morning that it had opted to divest of its UK operations, which will be handed by marketing company Envoi Limited
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Northern Petroleum brings Geesbrug gas field on stream to add 307 bcf to production
Northern Petroleum has brought its Geesbrug gas field in the Netherlands on stream, marking the start of what it said will be a period of “satisfying revenue growth.”
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Northern Petroleum - built for growth
Northern sees off-shore Italy as the company’s core area and the one with greatest future potential thanks to a mix of excellent prospectivity, strong demand for domestic sources of energy and good political capital.
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Northern Petroleum to acquire ATI Oil in all share deal
Northern Petroleum (AIM: NOP) announced late on Friday that it had come to an agreement to acquire the remainder of ATI Oil in an all share deal -
Northern Petroleum farms out six licences to Shell and reports progress in The Netherlands
Northern Petroleum answered a lot of questions today, updating the market on progress in Italy and the Netherlands.
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Northern Petroleum – Slow but surefooted
Northern Petroleum certainly looks attractive at today’s depressed prices. For a market cap of around £60m, you get in excess of £30m in cash, 2P reserves of 76 million barrels of oil equivalent, a major stake in several Italian prospects
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27/08/10
Northern Petroleum Finance Director exits -
05/07/10
Edison Investment Research notes that it is 'business as usual' at Northern Petroleum’s Italian ops -
02/07/10
Italian govt proposes ban on hydrocarbon drilling near coastline -
30/06/10
Northern Petroleum chairman Richard Latham looks ahead to new phase of accelerated growth -
28/06/10
Northern Petroleum signs seismic collaboration pact with PGS to identify new oil and gas licenses -
08/06/10
GE&CR praises Northern Petroleum’s progress in Netherlands, says Italy holds greatest potential -
08/06/10
Northern Petroleum ups oil and gas production and resources in 2009, posts record capex -
15/04/10
Edison Investment Research comments on Northern Petroleum’s Baxters Copse reserve update -
14/04/10
Northern Petroleum says report identifies 15.06m barrels 3P oil reserve at Baxters Copse, Sussex -
07/04/10
Northern Petroleum appoints ex-BP man and former Innovene CFO as finance director
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Aurelian Oil & Gas spuds Trzek-2 appraisal well on Siekierki field
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