The last working week of June will be much quieter for UK macroeconomic data following the Bank of England decision, though the gross domestic product (GDP) update on Friday could be seized upon by political parties ahead of the general election the following week... read more
Announcements due:
Listed companies led a comeback for global merger & acquisition in the first half of 2024 after last year saw the lowest total in almost a decade.
Global M&A volume grew 17% to $1.6 trillion, with corporate buyers accounting for 73% of announced deal volume, including 20 "megadeals", led of course by US companies.
TotalEnergies has agreed to sell its entire interest in its West of Shetland gas fields to the Prax Group, a private UK company.
It comprises the Laggan, Tormore, Glenlivet, Edradour, and Glendronach fields, as well as the onshore Shetland gas plant and nearby exploration licenses.
Businesses and unions in Aberdeen have joined forces to campaign against Labour’s plans to ban any new North Sea licences.
A joint letter signed by Unite and 200 local firms will be unveiled today in Aberdeen highlighting there is no plan to retrain workers or replace the oil and gas that will be left in the North Sea.
Serica Energy PLC (AIM:SQZ), a North Sea success story, has today confirmed that it is now seeking growth opportunities abroad.
"We are rightly proud of our track record of growth and value creation, and we aim to repeat the same in the future,” interim chief executive and chair David Latin said, in a statement.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) is looking forward to an exciting period as the company continues to make progress in the unlocking of the next prolific onshore US oil and gas play - that’s according to chair Rick Grant.
Grant, in THursday's full-year results for the twelve months ended December 31, highlighted that Zephyr continued to deliver as a cash-generating oil and gas exploration and production group.
Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF), in its annual results statement, described a period of “excellent progress”.
“We did what we said we would do and we delivered most of what we promised we would deliver,” chief executive Eytan Uliel said in a statement.
BP PLC's (LSE:BP.) new CEO, Murray Auchincloss, has implemented a hiring freeze and paused new offshore wind projects to focus more on oil and gas amid investor concerns over the company’s energy transition strategy, according to Reuters, citing sources close to the oil giant.
This shift contrasts with former CEO Bernard Looney's approach, which prioritised moving away from fossil fuels.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) has told investors that its production test at the State 36-2R LNW-CC well, at the Paradox project, in Utah, is currently in the clean-up phase, with operations proceeding conservatively.
The clean-up is taking longer than originally forecast, it noted.
Quadrise PLC (AIM:QED) has expanded its agreement with BTG (LSE:BTG) Bioliquids (BTL) with a new deal set to advance the partners towards a commercial-scale operation.
A new cooperation framework agreement (CFA) is now in place, building on a prior joint development agreement (JDA) which got underway in June 2023.
HeLIX Exploration PLC (AIM:HEX) has enhanced its portfolio with the addition of the Rudyard helium asset in Hill County, Montana.
The acquisition cost was a combination of $250,000 in cash and 600,000 shares for Rudyard, an asset that comprises 525 million cubic feet (mm cf) of helium and 2,176 mm cf of natural gas in the Souris River and Red River formations.
HeLIX Exploration PLC (AIM:HEX), in its first interim results since its April IPO, has described London as “the pre-eminent market for growth resource companies with a deep pool of investors, talent and a high standard of governance”.
“London remains a world-leading capital market for small-cap companies, and I am delighted to have been a part of bringing Helix Exploration to the London market,” Helix chair David Minchin said in a statement.
Beacon Energy PLC (AIM:BCE) shares plummeted in Monday’s early deals on the results of the Schwarzbach sidetrack well, at the Erfelden field, in Germany, which has seen production rates significantly below expectations.
The company, in a statement, told investors that performance during testing indicates that production from the new sidetrack well will stabilise between 50 and 100 barrels of oil per day.
Empyrean Energy PLC (AIM:EME) announced the signing of a binding gas sale agreement (GSA) for the domestic portion of gas from the Mako field.
The deal is with Indonesian firm PT Perusahaan Gas Negara (PGN).
Chariot Ltd (AIM:CHAR, OTC:OIGLF) has signed a gas commercialisation agreement with Vivo Energy for the future offtake from the Loukos field in Morocco.
It sees Chariot selling initial volumes of up to 3 million standard cubic feet per day (mmscfd) to a Vivo midstream compressed natural gas (CNG) business.