Europa Oil & Gas (Holdings) PLC CEO William Holland recently spoke with Thomas Warner about the company's strategic acquisition of a 42.9% interest in Antler Global, giving them a substantial stake in the EG-08 gas asset offshore Equatorial Guinea.
Holland outlined the rationale behind this decision, emphasising its geological and geographical appeal and the strong connections in the region that make this venture particularly promising.
Harbour Energy PLC (LSE:HBR)’s share price climbed a further 5% on Friday as the City gave the thumbs up to its $11.2bn acquisition of Wintershall.
Analysts at Jefferies said the deal was “very compelling,” while the team at Bank of America said it “surpasses expectations.”
Plexus Holdings PLC (AIM:POS), the AIM-listed oil and gas engineering services group, said there is "good momentum in the business" moving into 2024.
In a statement ahead of the company's AGM, chairman Craig Hendrie told investors there were a number of "positive" tender opportunities after it recently re-entered wellhead rental for exploration drilling from Jack-up rigs.
Harbour Energy PLC (LSE:HBR) shares soared 22% after the company agreed an US$11.2 billion deal to buy a portfolio of assets from German energy group Wintershall Dea.
The portfolio includes upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria, as well as its carbon capture and storage licences in Europe.
Ikea has warned of shipment delays due to recent attacks on vessels in the Red Sea.
The Swedish furniture retailer has become the latest to issue such a warning, given an increasing number of attacks on ships passing through the Suez Canal by Houthi rebels in Yemen since October’s outbreak of war between Israel and Hamas.
BAE Systems PLC (LSE:BA.) was the most searched-for constituent of the FTSE 100 index in 2023, according to research.
JD Sports Fashion PLC (LSE:JD.) came in a modest second, with the pair being the only companies within the index to average over half a million monthly searches over the year.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) has agreed a 12-month pause under the Project Peregrine leases, with the Bureau of Land Management Alaska (BLM) allowing the exploration company to retain the high potential acreage.
Specifically, the suspended acreage spans some 125,735 acres.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) has dealt into a new venture, picking up a stake in "drill ready" exploration offshore Equatorial Guinea.
With a US$3 million investment, the company is acquiring a 42.9% shareholding in Antler Global, which in turn owns an 80% stake in the EG-08 production sharing contract in partnership with Equatorial Guinea’s national oil company.
Scirocco Energy PLC (AIM:SCIR) has announced the sale of its stake and investments in Energy Acquisitions Group Ltd for a total of £2.6 million.
Under the deal, Scirocco will sell its interest to OrbeNovo subsidiary ONC Bidco 1 Ltd, alongside the obligations of a loan to Energy Acquisitions, agreed in 2021.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) said it has successfully closed an oversubscribed placing and direct subscription offer of new shares, bringing in a 'gross' £6.1 million.
Newly minted stock was issued at 0.25p, while the proceeds from the fundraiser will be used for the upcoming drill programme at the Itumbula West-A prospect in Tanzania.
88 Energy said it expects to receive the results of the Hickory-1 flow test results in March 2024, making it the first of its Alaska wells to flow to the surface said the oil explorer.
In a letter to shareholders, the oil group added its Project Leonis will see an independent, Certified Resource Estimate completed before commencing a formal farm-out program in in the first half of 2024, with a first well anticipated in 2025/26.
Petrofac Limited (LSE:PFC) shot up 50% as shorters cashed in their positions after the oil and gas installation specialist announced another big order.
Before today, Petrofac was one of the most shorted companies on the London market due to its huge debts, a string of profit warnings and run of bribery scandals.
A new gas play has joined London’s junior market following the ‘reverse’ of EnergyPathways PLC into Dial Square Investments PLC (LSE:DSI).
The transaction raised £2 million, giving the newly listed business a valuation of £6.32 million.
Reabold Resources PLC (AIM:RBD) told investors that its 26.1%-owned associate LNEnergy has now filed an Environmental Impact Study (EIS) for the new small-scale liquefied natural gas (LNG) development plan at the Colle Santo gas field.
The documentation was filed with Italy’s Ministry of Environment and Energy Security. It comes as LNEnergy aims to focus in the coming weeks on efforts to secure approval to carry out a long-term test and monitoring of the field.
Petrofac Limited (LSE:PFC) on Wednesday described its outlook as robust, underpinned by strong orders across both E&C and Asset Solutions.
In a trading update, the company, which fabricates oil and gas installations, said order intake totalled around US$6.8 billion in the year to date, with group backlog expected to be around US$8.0 billion at the end of the year.
Oil and gas supplies aren’t expected to be hugely damaged by the spike of attacks in the Red Sea, analysts believe.
Indexes, which estimate the prices of energy in the future, remain in contango, an upward trajectory, emphasizing that the physical market still has a steady supply of oil and gas.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF), responding to share price volatility, noted in a stock market statement that it has received inquiries from members of the United States House of Representatives Committee on Energy and Commerce, relating to the company’s well retirement processes and emissions.
In London, DEC shares were down 254p or 19.38% changing hands at £1,056.50 per share.
Trinidad-focused producer Touchstone Exploration's guidance for next year was below forecasts says Shore Capital, but the house broker adds the company tends to be conservative in its projections.
This is also the first production forecast including the new Cascadura field, so Touchstone might be choosing to be even more cautious, adds ShoreCap.
Union Jack Oil PLC (AIM:UJO)'s update on its non-operated (40% economic interest) Wressle-1 well in North Lincolnshire was good news for the UK onshore-focused group, says house broker ShoreCap.
A new environmental permit came into effect on 14 December allowing much higher volumes with output now at 670 barrels daily against 550 previously.
BP PLC (LSE:BP.) is to donate £50 million to help pay for the renovation of the British Museum in Bloomsbury, London, reigniting the debate about greenwashing by major oil companies and fossil fuel-producing countries.
The oil giant will provide the cash over 10 years to help with the 'Masterplan' renovation, said the museum, adding it was the biggest corporate donation so far to UK arts.
Genel Energy PLC (LSE:GENL, OTC:GEGYY) told investors that gross production from the Tawke licence continues to climb, with the average rate in the month of December (to date) "approaching" 90,000 barrels of oil per day (bopd).
It noted, in a statement, that this uplift sees projected fourth-quarter output rising to around 65,000 bopd, compared to 26,000 bopd in the third quarter.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said it remains “laser-focused” on reaching final investment decisions (FID) for its oil fields under development in Alaska within five years.
Jay Cheatham, chief executive, said the aim was for the FID on Ahpun by the end of 2025 and FID on Kodiak by the end of 2028 and “to achieve sustainable market recognition of $5-$10 per barrel of 1P/1C recoverable resources".
Europa Oil & Gas (Holdings) PLC (AIM:EOG) has described a new uplift in production at the Wressle field as “very encouraging”.
Wressle has in recent days received regulatory approval allowing higher volumes of fluid to be handled at surface and at nearby water disposal facilities. It effectively opens upside to production flows, which have been pegged to an average of 550 barrels of oil per day (bopd).
Harbour Energy PLC (LSE:HBR) received a boost after the drilling success of a partner on a gas licence in Indonesia in which it has a 20% interest.
Operated by Mubadala Energy, the oil and gas arm of Abu Dhabi’s Mubadala Investment Company, the Layaran-1 well on the South Andaman licence produced at a rate of 30 million cubic feet a day. That's the crude oil equivalent of 5,300 barrels.
Union Jack Oil PLC (AIM:UJO) told investors that the Wressle project has received regulatory approval allowing higher volumes of fluid to be handled at surface and at nearby water disposal facilities.
It effectively opens upside to production flows, which have been pegged to an average of 550 barrels of oil per day (bopd).
Capricorn Energy PLC (LSE:CNE, OTC:CRNZF) will acquire a stake in the North Sea’s Columbus gas field under a revised deal with Waldorf Production UK PLC.
Following its sale of stakes in the Catcher and Kraken fields in 2021, Capricorn will now acquire Waldorf's 25% non-operated working interest in Columbus, alongside being paid US$72.5 million.
Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) is anticipating a major uptick in production in the new year as its newly opened Cascadura project continues to deliver.
Production will likely come in between 9,100 and 9,700 barrels of oil equivalent per day (boepd) over 2024, Touchstone announced on Tuesday, of which most will be natural gas.
Plexus Holdings PLC (AIM:POS) has successfully executed two option agreements, the company said in a recent update.
The option agreements (a Primary and a Secondary option) initially disclosed on September 18, 2023, related to loan agreements totaling £700,000 with Lenders Ben van Bilderbeek and Plexus Property International Ltd (PPI).
BP PLC (LSE:BP.) said it will pause all shipments through the Red Sea following an escalation of attacks on merchant shipping by Houthi militants.
“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the company said in a statement.
Empyrean Energy PLC (AIM:EME) has said it is “eagerly” awaiting the finalisation of a long-term gas sale agreement for the Duyung PSC Project, offshore Indonesia.
Updating on Monday, Empyrean said bids relating to the sell-down process to fund development of the project should be received by the end of this calendar year, with production of methane from the site due by 2025.
Southern North Sea-focused E&P company Deltic’s joint venture with Shell has now approved the work programme and budget allowing for drilling of the planned appraisal well in late 2024.
Meanwhile, at Selene, operator Shell has confirmed that the geotechnical site investigation works on the preferred exploration well location have been completed, with the vessel now demobilised from the site.
Tower Resources should be able to move forward and finalise a Thali licence extension and farm-out deal early in the New Year following the contract signing for a jack-up rig, says house broker SP Angel.
Thali, offshore Cameroon, offers a fast-track development opportunity, suggests the broker, once the NJOM-3 appraisal well is completed.
Bosses at Britain’s biggest companies have seen no reduction in their pay relative to the average pay levels in 2022, a new survey has found.
Analysis by the High Pay Centre think tank found the median ratio of FTSE 100 chief executives' pay was 80 times higher than for the average UK employee and 119:1 times the lowest paid.
Chariot Ltd (AIM:CHAR, OTC:OIGLF), the energy company, is primed to cash in on the decarbonisation of South Africa’s power sector, analysts at Cavendish believe.
On Monday morning, the group announced it had completed a joint takeover of electricity trading company Etana Energy.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) today starts trading in New York, on the NYSE under the ticker 'DEC'.
The company retains its listing in London, and it expects to remain as a FTSE 250 constituent.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXF), in a brief statement, said its non-binding Cole Creek joint venture letter of intent has been terminated and no further discussions are planned at this stage.
The company added that it will provide a further update before year end, regarding its strategy relating to the development of its Cole Creek and Barron Flats Shannon Units which are located in Wyoming.
Tower Resources PLC (AIM:TRP) today announces the signing of the rig contract for the NJOM-3 well, offshore Cameroon, marking a hotly anticipated project milestone.
The company and its investors can now look forward to drilling the key well in 2024, as pencilled in previously.
Serica Energy PLC (AIM:SQZ) said its new US$525 million debt line, replacing the current borrowing facilities, will be used to fund investment as well as the North Sea driller's acquisition aspirations.
The new borrowing facility, structured as a revolving credit accessible in multiple currencies, offers Serica greater financial flexibility compared to its existing arrangements.
Deltic Energy PLC (AIM:DELT) has told investors, in a brief statement, that they can look forward to two wells in 2024.
At the Pensacola discovery, the company highlighted that the Shell-led joint venture partnership has now "finalised the positive well investment decision" which approves the 2024 work programme and budget.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has upped its stake in South African electricity trading company Etana Energy, which is one of a few in the country to hold a trading licence.
Up to US$1 million will be paid from cash reserves by March for the larger ownership share, Chariot said in a statement, with its stake in the electricity trading company increasing from 25% to 49%.