EnQuest PLC (LON:ENQ) shares advanced more than 5% on Friday morning after the North Sea oil firm told investors that its latest drill programme had been “excellent”.
Drilling of the Scolty/Crathes development wells, in the Greater Kittiwake Area, was completed ahead of schedule and under budget, it said.
KrisEnergy Ltd (SGX:SK3) said its revolving credit facility has been transferred to a single lender, DBS Bank.
The Asia-focused oil exploration and development company won’t now have to pay back US$55mln of the facility by the end of next month.
San Leon Energy Plc (LON:SLE) has highlighted plans to return half of future cash flows to shareholders as a result of its Nigerian oil deal.
The AIM quoted company supported the takeover of Mart Resources by Nigerian group Midwestern Oil, by providing the finances, and as a result it will be due a share in oil operation capable of generating valuable income.
Petrel Resources Plc (LON:PET) has told investors that a seismic exploration programme is now underway in and around its acreage off Ireland’s west coast.
The AIM quoted explorer’s partner, Australian major Woodside Energy, has begun the 2,400 square kilometre programme and some 40% of that relates to Petrel’s 15% owned Frontier Exploration Licence (FEL) 3/14.
Independent Oil and Gas Plc (LON:IOG) told investors it expects to contract Transocean's Sedco 704 and start drilling the Skipper appraisal well in less than a month’s time.
Drilling is anticipated to begin at the North Sea project in the second half of July, it said.
Ireland’s offshore sector remains an attractive location for the global oil industry, saysProvidence Resources PLC (LON:PVR) chief executive Tony O’Reilly.
In the group’s financial results statement, for the year ended December 31 2015, the Providence boss highlighted the group’s ‘significant progress’ during a period of ‘unprecedented dislocation in the global oil and gas industry’.
Victoria Oil & Gas plc (LON:VOG) is preparing to start new drilling operations in Cameroon, as a rig has now arrived at the port in Douala.
The rail-mounted rig arrived at Douala, the nearest City to VOG’s Logbaba plant and gas field, along with 2,756 tonnes of bulk load and containers. The equipment has been offloaded and is ready for customs clearance. The new well site is some 12 kilometres from the port.
Obtala Resources (LON:OBT) said it had made significant progress in simplifying its business model to become a highly focused African agricultural and forestry platform.
In a year that saw Obtala turn from being a mineral explorer to a forestry and agricultural group, sales revenue more than doubled, up 118% on last year to £3.7mln.
Magnolia Petroleum PLC (LON:MAGP) chief executive Steven Snead has highlighted that despite sub-US$50 per barrel oil the company remained a cashflow generative, low cost, oil and gas producer.
The oil junior, which focusses on proven US onshore operations, today released financial results for the twelve months to December 31 2015.
Gulfsands Petroleum plc (LON:GPX) has told investors it is determined to protect its rights in Syria, after a Syrian shareholder made legal moves in Damascus.
Al Mashrek Global Investment Ltd claims it was not properly notified of an open offer funding, completed in January 2016, and hence lost the opportunity to subscribe for new shares and as a result its holding was diluted.
Solo Oil PLC (LON:SOLO) and Aminex plc (LON:AEX) have confirmed an extension to the Mtwara Licence, of the Ruvuma PSA in Tanzania, as the group advances plans to drill an appraisal well on the Ntorya discovery.
In stock market statements the companies’ told investors that the expiry of the Mtwara licence, which had been due in December, had now be extended by a further year.
Highlands Natural Resources Plc (LON:HNR) has provided investors with the executive summary of a new competent persons report for the Helios Two helium and gas project in Montana.
RPS Knowledge Reservoir was hired to produce the document, which details prospective resource estimates and an indicative valuation of US$341mln for the project.
Solo Oil PLC (LON:SOLO) and Aminex plc (LON:AEX) have confirmed an extension to the Mtwara Licence, of the Ruvuma PSA in Tanzania, as the group advances plans to drill an appraisal well on the Ntorya discovery.
In stock market statements the companies’ told investors that the expiry of the Mtwara licence, which had been due in December, had now be extended by a further year.
Europa Oil & Gas Holdings Plc (LON:EOG) has secured an extension for the PEDL 143 licence, in Southern England, which is host to the Holmwood exploration project.
Extending the licence to October 1 2018 allows a proposed drill programme to go ahead, the company highlighted.
North Sea oil company Premier Oil PLC (LON:PMO) has secured extra time for a shake-up of its finances.
Premier, which like rivals has been hit by the fall in oil prices, said its lenders had agreed to delay a test of its financial covenants - due at the end of June - until the end of July.
Small US oil companies are set to launch more tie-ups as the industry continues to face funding shortages, sparking takeover speculation.
There has been an upsurge in merger and acquisition deals this year as oil prices have recovered to around US$50 a barrel, the study from credit rating agency Standard & Poor’s said.
Tullow Oil plc (LON:TLW) forecast the first oil from a project in West Africa and reported progress in overcoming problems on another scheme.
The explorer and producer said it expected the TEN project to achieve first oil within the next three to six weeks.
Oil services supplier John Wood Group PLC (LON:WG.) reported trading in line but said predicting future work was difficult.
Wood said the full-year outlook had not changed and there was no change to its pre-tax earnings guidance of around 20% down on 2015, as given in May.
Lekoil Limited (LON:LEK) has inked an additional new debt deal with Sterling Bank which makes available the equivalent of US$17.7mln.
The facility, for 5bn Nigerian Naira, has a three year term and, according to Lekoil, it gives additional flexibility and allows it to cover costs for the Otakikpo field in domestic currency.
Providence Resources PLC (LON:PVR) is looking forward again after resetting its finances with a new US$76.6mln funding package.
The arrangements, announced last week, stand out among the few fundings in the oil exploration and production sector.
Madalena Energy Inc (CVE:MVN) has confirmed that the deal to sell its non-core Canadian petroleum assets has now closed.
Point Loma Energy Ltd has now acquired the Madalena assets - focussed on the River area of Alberta - and in turn Point Loma has now been acquired via a reverse takeover into First Mountain Exploration Inc.
Nostra Terra Oil and Gas Company plc (LON:NTOG) has stuck a deal worth US$2.1mln to sell its 20% stake in the Chisholm Trail Prospect, Oklahoma.
The buyer is a privately owned, Oklahoma based oil and gas group.
Chisholm Trail accounted for US$1.7mln of book value, and in 2015 the asset contributed US$670,000 of revenue for the group.