Alaska oil shale explorer 88 Energy ltd (LON:88E) told investors it completed most of a planned seismic programme, and it has now agreed a deal to buy data gathered in a 3D programme last year,
88 Energy said 662 line kilometres have been completed, of the planned 750 kilometre 2D programme.
Wellhead provider Plexus Holdings PLC (LON:POS ) shares shot up over 10% as it received its ninth order in the last four years from Norwegian oiler Det norske.
Plexus is to supply one of its surface wellhead and mudline systems for use on the Langfjellet standard pressure exploration well on the Norwegian continental shelf.
Canadian Overseas Petroleum Limited (LON:COPL, CVE:XOP) has confirmed the completion of a C$7.1mln share placing in Canada, which along with a smaller UK share sale means the explorer has now raised C$8.6mln of new capital.
The company also told investors it has now appointed Shore Capital as its broker, as it progresses its ‘relaunch’ in London.
North Sea oil field developer Ithaca Energy Inc (LON:IAE, TSE:IAE) has emerged unscathed from an reassessment of its reserves based lending facilities.
Ithaca today told investors it had successfully completed the semi-annual assessment, and subsequently retains more than US$100mln of funding headroom as it continues the development of the Stella field to first hydrocarbons production, which is expected in the third quarter.
LGO Energy Plc's (LON:LGO) finances have received a shot in the arm, with the Trinidad focussed oil company restructuring its debt and simultaneously raising £3.25mln of new funds from investors.
BNP Paribas, the company’s lender, has agreed a new indicative repayment schedule for the outstanding debt. And by offsetting cash set aside as security, it has reduced the debt to US$4.87mln.
Anglo-Dutch oil giant Royal Dutch Shell plc (LON:RDSB, NYSE:RDS.B) moved to protect its dividend, cutting planned spending this year by 10% to US$30bn.
As expected, the quarterly dividend has been maintained at 47 cents, where it has been since the first quarter of 2014, despite of late not being covered by earnings per share.
Rose Petroleum PLC (LON:ROSE) said on Tuesday it was mulling a move into processing and manufacturing of gypsum in Cuba.
Unveiling plans, it also unveiled an £800,000 share placing to fund the due diligence and transactions fees associated with any deal.