European energy companies considering relocating their primary listing to the bright lights of New York may find it "counterproductive", UBS thinks, though undoubtedly there are some short-term valuation benefits.
The US market "carries a lower discount on oil & gas assets, provides more access to capital with fewer ESG constraints", the Swiss bank acknowledged.
Orcadian Energy PLC (AIM:ORCA) shares jumped 20% higher as it told investors it has entered a non-binding agreement with a potential farm-in partner for its new project in the UK’s southern North Sea.
The identity of the potential partner was not disclosed.
Brookside Energy Ltd (ASX:BRK, OTC:RDFEF) has completed drilling of the surface hole at Rocket Well, which is part of the multi-well Flames-Maroons Development Plan (FMDP) in the core of the southern SCOOP Play in Oklahoma's Anadarko Basin, and is drilling the intermediate section.
With the surface hole section, Brookside advises that the surface casing has been run inside the hole and cemented in place as operations continue safely, on budget and on time.
Union Jack Oil Plc's (AIM:UJO, OTCQB:UJOGF) decision not to release production numbers for its last year makes it difficult to assess why revenues fell, but lower commodity prices will have been a major factor says, Panmure Gordon.
Reserves were increased at Wressle with further development planned.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) new well in Morocco promises to de-risk and unlock other similar nearby projects, stockbroker Panmure Gordon highlighted following the start of drilling.
This morning, in a statement, Chariot confirmed the start of drilling on the OBA-1 well, on the Dartois prospect located in the Loukos Onshore licence.
Serica Energy PLC (AIM:SQZ), which today landed approval for a new North Sea field, has called on the UK government to reform the oil and gas tax regime.
Companies like Serica pay around 75% on their oil operations, following the so-called ‘windfall’ tax introduced as crude oil and gas prices previously soared with the start of Russia’s war in Ukraine.
Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF) executive chair David Bramhill, in the junior energy company’s final results statement today, has given a confident and bullish outlook as he highlighted opportunities to further grow the business.
It comes after a positive year for the Wressle field and after the company’s expansion into America has yielded early success.
Chariot Ltd (AIM:CHAR, OTC:OIGLF) told investors it has started drilling the OBA-1 well, on the Dartois prospect located in the Loukos Onshore licence, in Morocco.
The Dartois target holds an estimated recoverable prospective resource of 12 billion cubic feet (Bcf).