Hurricane Energy PLC (LSE:HUR) delivered what appears to be a significant upgrade to the reserves on its Lancaster Field, west of Shetland.
But while production rates were at the upper end of forecasts in the six months ended March 31, they will drop as the impact of the annual maintenance shutdown is factored in.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF)’s quarterly activities report summed up three months in which the company’s recently acquired Texas assets put cash in the bank.
The 73%-owned producing assets in Texas, referred to by the company as Project Longhorn, yielded some 400 barrels of oil per day (gross) and in March delivered some A$600,000 as its first net cash flow.
Cloudbreak Discovery PLC (LSE:CDL) unveiled Paul Gurney as a non-executive director with immediate effect.
Prior to joining the natural resource project generator, he spent over 15 years in capital markets, most recently as a managing director for the Bank of Montreal (CSE:BMO)’s (BMO) equity desk in London.
Empyrean Energy PLC (AIM:EME) says the Jade well, offshore China, is making good progress with the 17-1/2" section drilled to 1056 metres Measured Depth.
Casing is now underway to be followed by the installation of a blowout preventer, after which drilling down to 2140 metres Measured Depth will get underway.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) marked £2.2mln of first-half revenue as its part-owned Wressle field continued to perform “from strength to strength”.
In what the company described as its “strongest interim financial performance since H1 2014” the company reported a £700,000 pre-tax profit and noted £900,000 of net cash from operations.
Cloudbreak Discovery PLC (LSE:CDL) announced a partnership with Ultimate Resources and Masterstroke Investments for a venture exploring for oil and gas in Namibia.
The London-listed company will be the financing partner in the venture which seeks to submit a petroleum development agreement and enter final negotiations for Petroleum Exploration Licence Block 2019.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) told investors that it is now positioned as the first company in the US to deploy certain state-of-the art emissions measurement devices in natural gas upstream operations.
It notes that earlier equipment was capable only of visually detecting fugitive methane emissions, while newer technology being used by the company (the Opgal EyeCGas 2.0, EyeCSite software, and the Semtech Hi-Flow 2 sampler) take the next logical step and estimate the amount of emissions.
Union Jack Oil and partner Egdon Resources have appealed the rejection of their planning application for a sidetrack well at the Biscathorpe site in Lincolnshire.
The junior had flagged an appeal would be made when the original application was rejected in February.
BT Group PLC (LSE:BT.A) and Rolls-Royce Holdings PLC (LSE:RR.) are two of the most-shorted London stocks, while the “most crowded” long bets in the FTSE 100 are BP PLC (LSE:BP.) and Barclays PLC (LSE:BARC).
That’s according to UBS’s measure of the most crowded "active positions" around the world, where semiconductor company Lam Research Corporation (NASDAQ:LRCX) and Activision Blizzard Inc (NASDAQ:ATVI) were top of the global list for the past week.
Mosman Oil and Gas Ltd (AIM:MSMN) reported a 31% increase in gross production at the Winters-2 well in East Texas.
The oil exploration, development and production company has a 23% working interest in the well, which was connected not long ago to the recently completed gas infrastructure.
i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) reported £86.8mln of net revenues and £48.8mln of net operating income for 2021, after the acquisition of producing assets in Canada transformed the business.
Production from the assets, located in Alberta, Canada, averaged 12,442 barrels oil equivalent per day and reached 18,229 boepd through the fourth quarter as integration of the assets continued.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) said production from its Longhorn assets in the Permian Basin in Texas has been higher than anticipated since their acquisition in February.
Output in March averaged over 400 barrels a day at 70% oil, or around 30% higher than anticipated at the time of the acquisition.
INEOS, the petrochemical firm run by British billionaire Jim Ratcliffe, proposes to drill a test well using fracking in a bid to prove the controversial technique is safe and unlock the UK’s potentially vast domestic shale gas resources.
The UK government last week launched a review of the shale gas fracking, ordering an expert report, alongside its new domestic energy strategy which seeks to ween Britain off imported energy in the wake of Russia’s invasion of Ukraine.
Quadrise Fuels International PLC (AIM:QFI) said it signed a commercial development agreement with Valkor Technologies LLC to commercialise Quadrise’s MSAR and bioMSAR technology at Valkor’s projects in Utah.
Shares in AIM-traded Quadrise jumped as much as 22% to 2.4 pence following the announcement.
Genel Energy PLC (LSE:GENL, OTC:GEGYY) told investors it has received US$35.4mln of payments from the Kurdistan Regional Government relating to oil sales during the month of December.
The Tawke field accounted for some US$17.3mln of the payments, plus US$8.8mln for the Tawke override facility, whilst the Taq Taq and Sarta fields contributed US$2.5mln and US$2.2mln respectively.
Longboat Energy PLC (AIM:LBE) has begun drilling operations on the Cambozola exploration well in Norway, in which it owns 25% stake.
Cambozola is one of Norway's largest gas prospects to be drilled in 2022, with the turbidite sand lobes of the lower cretaceous particularly prominent on seismic data.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) published its new annual sustainability report which it said highlights successes and an ambitious outlook for the robust ESG agenda, set in 2021.
It comes after a year in which the company launched its Project Fresh initiative to improve accuracy of its emissions-producing inventory, deploy 600 handheld leak detection devices, and piloted the use of light detection and ranging (LiDAR) aerial surveillance to detect and drive emission reductions.
United Oil & Gas PLC (AIM:UOG) has completed the sale of its Italian business to Prospex Energy PLC for €2.16mln.
UOG Italia holds a 20% non-operated interest in the Podere Gallina licence, which contains the Selva gas development project.
Empyrean Energy PLC (AIM:EME) has reported drilling is underway on the Jade prospect at its 100% owned Block 29/11 permit, offshore China.
The LH 17-2-1 well spudded on at 19:30 on 10 April 2022 with a 36" surface hole drilled down to 588 metres Measured Depth (MD).