Hurricane Energy PLC (LSE:HUR) bought back a further US$28.5mln of convertible bonds as management whittles away at the debt due in 2022.
It is paying US$27.3mln including accrued interest for the convertible bonds.
Genel Energy PLC (LSE:GENL, OTC:GEGYY) said it plans to seek compensation from the Kurdistan Regional Government (KRG) in a dispute over the Bina Bawi and Miran Production Sharing Contracts (PSCs) in Northern Iraq.
The London-listed company told investors it is “left with no practical alternative but to accept that the PSCs are terminated as a consequence of the KRG's repudiatory breach and to claim compensation from the KRG.”
Zephyr Energy PLC may be set to fuel a new generation of cryptocurrency mining, according to its chief executive officer Colin Harrington.
The company is mulling on-location crypto mining as a novel method of monetisation for its breakthrough gas discovery in Utah, in a geological area known as the Paradox basin.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF). has had a busy second half to 2021, undertaking a listing and a fund-raising on London’s AIM junior market and continuing to progress its projects in Columbia.
Proactive caught up with Max Satel, EVP Corporate Development & Investor Relations at Arrow Exploration to find out how the past few months have gone for the company.
Mosman Oil and Gas Limited said the Winters-well in its Polk County, East Texas asset is being completed again to limit the production of water.
The company told investors the re-completion is in the upper few feet of the current Wilcox zone. The zone has demonstrated the potential to produce oil, gas and water but it is believed that the water is coming from the lower part of the perforated zone. Mosman plans to cement-squeeze the lower perforations to limit the water influx. If this is not successful, the well will be re-completed in another zone, the company said.
Hurricane Energy PLC (LSE:HUR) has chipped away at its convertible bond debt, repurchasing US$15mln of bonds.
The transaction cost was US$14mln including accrued interest and the company noted that the buy-back saves US$1.8mln of interest charges.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) chairman Brian O'Cathain told investors the company is very pleased with the operational progress made in the past year.
“We have delivered on our expectation of not only producing the first oil at the Wressle oil field in North Lincolnshire, but also increasing our overall production significantly," O'Cathain said in a statement ahead of today’s AGM.
Zephyr Energy Plc successfully completed itesting of the State 16-2LN-CC well at the Paradox Basin project in Utah, with equipment-constrained rates reaching a peak of 1,083 barrels oil equivalent per day.
A simulated model based on well data indicates potential for the well to yield up to 2,100 boepd, the company added.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) completed its US$181mln acquisition of Oklahoma-based Tapstone Energy, adding 12,000 barrels oil equivalent of production across 660 wells.
The deal was executed alongside co-investment partner Oaktree Capital Management which closed its transaction in parallel.
Pantheon Resources PLC (AIM:PANR, OTC:PTHRF) is raising around US$96mln of new funds to tee up the company for a high impact exploration programme in Alaska.
It is raising US$41mln of equity, via an oversubscribed placing, and is issuing US$55mln of convertible bonds.
Red Rock Resources PLC (AIM:RRR) said it exchanged shares in Red Rock Australasia Pty Ltd (RRAL) for a 50.1% holding in New Ballarat Gold Corporation PLC (NBGC), a newly formed UK public company which now owns 100% of RRAL and will be the vehicle for a possible listing in London.
Red Rock’s joint venture partner Power Metal Resources PLC (AIM:POW) said it has transferred its RRAL shares to New Ballarat, in which it now owns 49.9%.
Saudi Arabian Oil Company (Aramco) has announced a US$15.5bn gas pipeline sale and leaseback deal with a consortium led by BlackRock (NYSE:BLK) and the investment arm of Saudi Arabia’s General Organization for Social Insurance (GOSI).
It is the world’s largest-ever energy infrastructure deals and is the second deal of its kind this year, the state-backed Saudi oil firm noted. Moreover, Aramco said the deal represents significant progress in its asset optimisation programme.
United Oil & Gas PLC (AIM:UOG) has extended the long stop date for the deal to sell its Central North Sea licences to Quattro Energy, from December 6 to February 28.
The extension allows additional time for deal conditions to be met, the company said in a statement.
Kinetiko Energy Ltd (ASX:KKO) has successfully spudded three wells at its Korhaan Project in South Africa and completed its aeromagnetic survey covering 564 square kilometres over selected portions of ER 270 and ER 272.
Perth-based KKO is a gas explorer focused on advanced shallow conventional gas and coal bed methane (CBM) opportunities in rapidly developing markets in Southern Africa.
PetroTal Corp. (AIM:PTAL, TSX-V:TAL), the oil and gas development and production company, saw its shares rise 17% to 208p today after protests at its oil loading facility came to an end.
The protests were being conducted by a group seeking assistance from the government of Peru.
Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) said it is excited to announce a further large oil discovery at the Royston-1 well, onshore Trinidad, following the continuation of production testing.
The company, in a statement, detailed the findings of a second test that tested a second interval in the Royston well – confirming a light oil reservoir.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP, OTC:VELXD) (COPL) has named Nigel Little as its new independent non-executive director with immediate effect after six years, replacing viscount William Astor.
Little has over 40 years of experience as an investment banker and specialist in the natural resources and energy sectors, as well as having significant experience in oil and gas equities markets.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) told investors it is on-track to spud the Merlin-2 appraisal well in February 2022 as it updated on operations in Alaska.
The company, in a statement, said that snow road construction preparations underway ahead of the Merlin-2 drilling operations. Permitting is meanwhile said to be well advanced, with the permit to drill expected by year end,