Pantheon Resources PLC (LON:PANR) shares fell as it said Hurricane Harvey has disrupted its oil and gas operations in Texas. The storm continued to tear across southeast Texas , breaking the record for the most extreme rainfall on the US mainland. Some areas of the region have seen more than 40 inches of rain.
Chariot Oil & Gas Limited (LON:CHAR) has decided not to proceed into the first renewal period for Namibia blocks 2714A and 2714B, otherwise known as the Southern Blocks. It means that the explorer foregoes its 85% stake in the exploration area in the Atlantic Margin, albeit the company has made an agreement for a ‘back-in’ for a 10% interest in the blocks.
Eland Oil & Gas PLC (LON:ELA) marked a new milestone at the Opuama field, which produced 1 mln barrels in the past three months, and told investors that a rig has now been mobilised for an upcoming programme. The Nigeria-focussed oiler is planning to drill a side-track from the Opuama-7 well, with work due to get underway in mid-September. Production from the well is expected to follow in October.
Rose Petroleum PLC (LON:ROSE) told investors that the design for an upcoming seismic survey in the Paradox basin in Utah, has now been completed and the operations are expected to start within a matter of days. It sees a reduction in the scale of the survey, which will keep costs down.
Tlou Energy Limited (LON:TLOU) has confirmed some of the material details of its recently awarded mining licence that will allow it to advance its coal bed methane project in Botswana. It told investors in a statement that the licence was issued in terms of Section 41 of the Mines and Minerals Act.
Cadogan Petroleum PLC (LON:CAD) saw its first-half loss narrow, even though revenue fell due to a decline in gas trading, with revenue from production at the Ukraine-focused firm more than doubling. For the six months to June 30, the AIM-listed firm reported a pre-tax loss of US$2.0mln, down from a US$3.1mln loss a year earlier.
Highlands Natural Resources PLC (LON:HNR) told investors that the Powell well, its first at the East Denver project, has now completed drilling. The well was targeting the East Denver niobrara shale, and was drilled down to a depth of 18,230 feet. Setting and cement casing was completed on August 29.
Evidence of oil was seen in the well’s drill bit cuttings and drilling mud, with HNR highlighting that its contractors had described the presence of “abundant oil samples”. Chief executive Robert Price, in a statement, highlighted that the programme was completed on schedule.
Empyrean Energy Plc (LON:EME) has reported ‘significant gas shows’ have been detected in multiple zones in the Dempsey 1-15 well, in the Sacremento basin onshore California. Drilling continues, but, a project update has informed investors that zones of significantly higher than background gas shows have been encountered during the programme.