Company
United Oil & Gas PLC
LON:UOG
United Oil & Gas is a full-cycle oil and gas company with a portfolio of low-risk, cash generative production, development, appraisal and exploration assets across Egypt, UK and a high impact exploration licence in Jamaica. The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.
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United Oil & Gas says latest Egypt exploration well result 'not encouraging'
"We are now continuing with our active and fully funded Egypt drilling programme,” said chief executive Brian Larkin
United Oil & Gas next development well spuds in Egypt
“Egypt offers a low-cost operating environment, with attractive fiscal terms and continues to deliver positive operational cashflow to United."
United Oil & Gas profits surge on higher oil price
UOG’s realised oil price jumped 82% to almost US$69 per barrel
United Oil & Gas production on track as Abu Sennan ramps up
All of the production came from United's 22% non-operating interest in Abu Sennan
United Oil & Gas completes exit from Italy
UOG will no longer be liable for its share of the Selva gas development capital expenditure
United Oil & Gas gets Italian greenlight for asset sale to Prospex
The deal between United and Prospex will now advance to completion
United Oil & Gas says production is beating expectations at Egyptian well
CEO Brian Larkin note the short turnaround time between well completion and production
United Oil & Gas reports another hit at Abu Sennan
ASD-2 is the eighth consecutive successful oil well at Abu Sennan
United Oil & Gas retains UK Central North Sea projects
“We believe the backdrop of high oil process and increased investment in the North Sea means these licences offer a range of exciting opportunities for United for limited near term outlay,” said chief executive Brian Larkin.
Archive
Oil price, Zephyr, Angus, Challenger, Jadestone, UOG, Prospex. And finally…
Prospex Energy Prospex has provided an update on the Selva field development project in Italy, in which the Company currently holds a 17% working interest in the Podere Gallina licence through its wholly-owned subsidiary PXOG Marshall Limit
United Oil & Gas says 2021 production was slightly ahead of guidance
"United and its JV partners had a 100% success rate for the five exploration and development wells in the 2021 drilling campaign in Egypt,” said chief executive Brian Larkin.
United Oil & Gas starts production at Al Jahraa-13 well
“Following the exceptional drilling success achieved in 2021 we look forward to beginning our 2022 development and exploration drilling programme,” CEO Brian Larkin said
United Oil & Gas hails five out of five success at Egypt’s Abu Sennan oilfield
The 2021 drilling campaign saw five out of five successful wells drilled at Abu Sennan, all of which have been quickly brought into production and generated cash flow for the company
United Oil and Gas extends deadline for Central North Sea deal
The new long stop date for the asset sale is February 28
United Oil & Gas extends exploration licence in Jamaica
“The extension allows us to continue the farm-out campaign with confidence," chief executive Brian Larkin said
United Oil & Gas says AJ-13 well in Egypt is spud
"Following the success of Al Jahraa-8, we are delighted to now be drilling the Al Jahraa-13 well, which can add immediate cash flow to the company”
United Oil & Gas starts producing at ASX-1X well
“Another new discovery is a further positive sign for the remaining exploration potential within licence," said chief executive Brian Larkin
United Oil & Gas says full year production will be in line with guidance
United said it expects full-year production in the range of 2,100 and 2,3000 boepd
United Oil & Gas is well placed to capitalise on opportunities
The production business in Egypt continues to drive positive cash flows, meanwhile, new drill plans are being put together and United seeks select high impact exploration opportunities
United Oil & Gas boosted by another well success in Egypt
“This is the second exploration well drilled in 2021 on Abu Sennan and gives us further confidence in the value of the remaining exploration potential of the licence," said CEO Brian Larkin
United Oil & Gas signs binding deal to sell North Sea assets
Portfolio optimisation is key to the group's strategy, says chief executive Brian Larkin
United Oil & Gas broker confident a fix can be found for water issue
Optiva reckons the shares are worth 6.7p each - more than double the market's current valuation
United Oil & Gas enjoys strong start to year; working to address water-cut issue
Experts are currently working on mitigating the impact of changes to the oil to water ratio seen since early July. The impact has been felt on the ASH field only and on the ASH-2 well in particular
United Oil & Gas spuds next Egypt well
The well will test multiple stacked targets, similar to the successful ASD-1X well
Cenkos says there’s more to come from United Oil & Gas
The stockbroker has a 'buy' recommendation that sees around 80% upside to the current price.
Stockbroker cheers United Oil & Gas run of success in Egypt
The firm's latest well results beat pre-drill expectations.
United Oil & Gas boosted by better than expected well result
"The AJ-8 well was expected to flow at good rates, but it is great to have our expectations exceeded with these encouraging initial test rates," said chief executive Brian Larkin
United Oil & Gas divests North Sea assets as it focuses on low-cost growth in Egypt
"With this transaction we continue to demonstrate our ability to actively manage our portfolio of assets to unlock significant return in value for our shareholders in a short period of time,” said Brian Larkin
United Oil & Gas highlights 'exceptional' first-half success
"The outlook for the business remains encouraging and we remain well positioned for further success," said Brian Larkin
Stockbroker sees ‘material future potential’ for United Oil & Gas
The share trades at a significant discount to Cenkos' valuation, even before the company's latest well success in Egypt.
United Oil & Gas reveals latest well success in Egypt
"We are delighted to be able to announce yet another positive result from the Abu Sennan licence,” said chief executive Brian Larkin.
Cenkos lifts United Oil & Gas valuation as Egypt success continues
The broker's core and exploration valuation suggest significant upside to the current market price for United Oil & Gas.
United Oil & Gas production boosted as ASD-1X gets greenlight
The well adds 285 bopd net to United, meanwhile, a workover of another Egyptian well has added a further 220 bopd.
Proactive weekly oil and gas highlights: United Oil & Gas, Bahamas Petroleum, DGOC, Mosman, i3 Energy, JOG, Genel, 88 Energy, Zephyr
It was another active week in the small cap oil and gas sector.
Cenkos ups view on United Oil & Gas after latest Egyptian well results
United marked a new discovery this week as well results beat expectations.
United Oil & Gas confirms ASD-1X as a new discovery after expectation-beating well test
"Today's announcement is yet another positive result from Abu Sennan,” said Brian Larkin.
United Oil & Gas investors should be encouraged by significantly enhanced cashflow - broker
UOG has emerged as a low-cost producer poised for significant growth this year,” SP Angel analyst Sam Wahab said.
United Oil & Gas says 2020 was a “landmark year” despite COVID-19 disruption
The company highlights significant achievements despite it being one of the toughest years for the sector.
Proactive oil & gas weekly highlights: United Oil & Gas, 88 Energy, Genel, Touchstone Exploration, ADM, Tlou
It was an active week in the small-cap oil and gas sector.
United Oil & Gas reserves replacement impressive, says Cenkos
Upside comes from both a further c3.9mmboe of 3P reserves and 21 exploration prospects
United Oil & Gas shares jump on better-than-expected reserves increase at Abu Sennan concession
"The numbers reported today will have exceeded many expectations in our view,” said SP Angel analyst Sam Wahab
United Oil & Gas confident as Egypt reserves rise 24%
"It is really pleasing to see the Abu Sennan assets continuing to perform so strongly, and so consistently," said Brian Larkin.
United Oil & Gas is predicted to grow production further in second quarter
Stockbroker Cenkos rates United Oil & Gas as a 'buy'.
United Oil & Gas production increased in Q1
Output in the first three months of 2021 was slightly ahead of guidance boosted by a new pipeline and a new well.
United Oil & Gas gets target lift after news from Egypt and Italy
The ASD-1X well was the latest in a string of positive results for United in Egypt
United Oil & Gas expects production growth as Egyptian success continues
"Operating costs in Egypt are cheap, the drilling costs are cheap and the exploration upside is low-risk."
United Oil and Gas gets a result at Abu Sennan
The ASD-1X exploration well, located 12km to the north-east of the producing Al Jahraa Field, safely reached its projected depth several days ahead of schedule and under budget.
United Oil & Gas tipped by Cenkos to repeat drilling success in Egypt
The targeted reservoirs are expected to be encountered between 3,000-3,500m measured depth.
United Oil & Gas spuds ASD-1X exploration well
"There is considerable exploration potential in the Abu Sennan licence, and it is great to be actively drilling wells to unlock that potential,” said Brian Larkin
United Oil & Gas price target lifted by stockbroker as latest well beats expectations
Cenkos repeated a ‘buy’ recommendation with a new price target of 28p, up from 26.6p.
United Oil & Gas shares advance as ASH-3 well results impress
"The ASH Field continues to out-perform our estimates and following on from the success of the 2020 drilling programme," said chief executive Brian Larkin.
Cenkos says United Oil & Gas is a ‘buy’ after third Egyptian well success in a row
“ASH-3 is the third successful well for the Abu Sennan block partners and UOG, with United enjoying a 100% drilling success rate since acquiring Rockhopper Egypt,” Cenkos highlighted.
United Oil & Gas says ASH-3 well to deliver production lift
The ASH-3 well was delivered ahead of schedule and under budget.
United Oil and Gas sees production rising again in 2021
A farm-out process of the Walton prospect offshore Jamaica starts shortly with first gas from Italy also due this quarter
United Oil & Gas highlights strong production performance at Abu Sennan project in Egypt
"The Abu Sennan asset continues to perform strongly,” said chief operating officer Jonathan Leather.
United Oil & Gas starts 2021 with optimism and promise as new Egypt drilling starts
The ASH-3 well aims to follow-up the recent expectation beating success at the Abu Sennan project in Egypt.
United Oil & Gas kicks off 2021 Egypt well campaign
“There is clearly great potential in the ASH Field, and if the outstanding success that was achieved in the ASH-2 well can be replicated here, it will be a fantastic result," said chief executive Brian Larkin
United Oil and Gas higher as ASH gas pipeline completed at Abu Sennan licence
The company said the gas pipeline was brought onstream on December 27 and has increased environmental efficiency and gas recovery rates across the project
United Oil & Gas appoints former Tullow Oil CFO Tom Hickey as an independent non-executive director
Hickey is currently CEO of Boru Energy Limited, the West African focussed private oil and gas company, which is supported by The Carlyle Group
United Oil & Gas price target raised by brokers after Jamaica upgrade
Resources at the primary target, Colibri, increased by 77% to a mean average 406mln barrels
United Oil & Gas highlights new 2.4bn barrel estimate for Jamaica exploration project
"United has long held the view that the Walton Morant Basin is a highly prospective and exciting basin, with billion-barrel potential,” said chief operating officer Jonathan Leather.
United Oil & Gas now expects Crown milestone payment in 2021
The company expects to receive payment in the second quarter of 2021
United Oil & Gas counts down to new Abu Sennan drilling
As new work programmes move closer, the company noted that production for the second half of 2020 is set to exceed earlier expectations
United Oil & Gas targets upgraded as City analysts see more upside
Cenkos and Optiva both see significant upside for United with new targets set at 19.1p and 20.5p respectively.
United Oil and Gas confirms successful first half driven by Egypt production
United’s Egypt business, acquired in February, provided the catalyst for the first-half performance.
United Oil & Gas names experienced oil industry leader, Iman Hill as an independent non-executive director
She has over 30 years' experience in delivering successful exploration and production projects at global companies such as Shell, BP, BG Group, Dana Gas, Sasol and Energean
United Oil & Gas expands North Sea footprint with licence awards
"United has a proven record of success in UK licencing rounds," said chief operating officer Jonathan Leather
United Oil & Gas boosted by significantly strengthened shareholder base - Cenkos
“A common complaint with small-cap stocks is a lack of liquidity, however in United’s case this is not the case," Cenkos says.
United Oil & Gas welcomes new institutional investors as Rockhopper exits
United said the Egypt acquisition has been “transformational”
United Oil & Gas Jamaica licence approval a "pivotal moment" for the explorer, says City broker
“We view the award of the Walton Morant licence as a huge endorsement of the United team and its capabilities to operate a frontier, deep-water licence,” said Cenkos, reiterating its ‘buy’ advice after increasing its net asset valuation of
United Oil & Gas gets Jamaican Government approval to take forward the Walton Morant Licence on a 100%-operated basis
The initial exploration period also extended for 18 months meaning the group now has until January 31, 2022, before the drill-or-drop decision is required
United Oil & Gas shares in demand after Cenkos valuation upgrade
The price target moves to 9.5p a share, a 280% premium to Friday's close
United Oil & Gas confirms production and reserves growth in Egypt
The latest impressive well at Abu Sennan is yielding 3,060 boepd net to United, in testing.
United OIl & Gas' Egypt assets alone worth more than share price says broker
Optiva says Abu Sennan is proving to be an incredibly robust asset that is worth 4.4p per share.
Proactive Oil & Gas weekly highlights: United Oil & Gas, COPL, Premier Oil, Bahamas Petroleum ...
It was another active week in London's oil and gas sector
United Oil & Gas target lifted by Cenkos after El Salmiya-5 well
The 8,700 flow boepd achieved on test is just from the primary Kharita target and does not include production from the Abu Roash C or E Members
United Oil & Gas shares soar as Egypt asset delivers another significant new well
"With a headline figure of c. 8,700 boepd achieved on test from the primary target in the Kharita, it is fair to say the results have significantly exceeded our pre-drill expectations," chief executive Brian Larkin said
United Oil & Gas’s Egypt deal is “gift that keeps on giving” - Cenkos
“We believe United is one of the leanest companies in the sector, making the company much more resilient to the current low oil price environment.”
Morning View - United Oil & Gas and more..
UOG’s FY19 results underline a year of effective pre-production operational performance. Since the Company’s listing in March last year, the core story for UOG has been the acquisition of Rockhopper Egypt and its 22% interest in the Abu Sen
United Oil & Gas results highlight growth and transformation in 2019 via Egypt acquisition
The Rockhiopper assets acquired in Egypt continue to exceed expectations and provide positive operational cashflow even during times of low oil prices
Archive
Proactive news snapshot: United Oil & Gas, Corero Network Security, OptiBiotix Health, Genel Energy …
A glance at some of the day's highlights from the Proactive Investors newswire
United Oil & Gas highlights strong production whilst detailing proactive actions in response to coronavirus impacts
“I am delighted that production in Egypt continues to rise, helping to compensate for the lower oil prices,” said CEO Brian Larkin