leadf
logo-loader
viewDeltic Energy PLC
(
AIM:DELTFRA:7RC
)

Deltic Energy extremely pleased with progress in North Sea

“The next twelve months are set to be an exciting time for our company," Graham Swindells said

Deltic Energy PLC - Deltic Energy extremely pleased with progress in North Sea

Deltic Energy PLC (AIM:DELT, FRA:7RC) chief executive Graham Swindells said he is extremely pleased with 2021 so far, as the North Sea company has seen great progress across its portfolio.

The comments, in Tuesday’s interim results statement, come as the company looks forward to the drilling of the Shell operated Pensacola exploration well and as a recently agreed joint venture with Cairn Energy is advancing exploration activities.

During the first half, Shell confirmed it would drill Pensacola in the second quarter of 2022, and today Deltic noted that well planning has rapidly progressed and a site survey has begun.

“The decision to drill Pensacola and transformational deal with Cairn have been particular highlights,” Swindells said. “Both demonstrate our strategy to build a diverse portfolio of opportunities and attract high quality partners.

“We are looking forward to commencing our partnership with Cairn, as well as continuing our work with Shell as we progress towards drilling our high impact SNS gas prospects.

“The next twelve months are set to be an exciting time for our company."

Deltic’s financials confirmed a strong balance sheet, with £11.1mln of cash at the end of June. The pre-revenue firm reported a £691,754 loss for the six month period.

Quick facts: Deltic Energy PLC

Follow
AIM:DELT

Price: 2.2 GBX

Market Cap: £30.93 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Deltic Energy present details of farm-out deal with Cairn Energy PLC and how...

Graham Swindells, CEO of Deltic Energy PLC (AIM:DELT) (LON:CLNR) explains to Proactive London how the company will benefit from a farm-out deal with Cairn Energy PLC (LSE:CNE) (LSE:CNE) (LSE:CNE) for five licences in the Southern North Sea. Cairn will acquire between 60% and 70% of the...

on 18/8/21

2 min read