Hurricane Energy PLC (LSE:HUR) said it has received multiple expressions of interest from "credible counterparties" after putting the business up for sale earlier this month.
It made the short statement alongside a formal reaction to changes to oil exploration taxes and incentives outlined in chancellor Jeremy Hunt’s Autumn Statement on Thursday.
Eco (Atlantic) Oil & Gas Ltd said the Gazania-1 well offshore South Africa showed no evidence of commercial hydrocarbons.
It said the joint-venture partners on Block-2B will take more time to analyse drill data before considering the next move.
Opportunistic and blunt tool were among the adjectives being reached for as Jeremy Hunt hiked and extended the so-called windfall tax on oil and gas companies.
The levy, which is added to base tax, increases to 35% - taking the effective rate of tax on UK oil and gas profits to 75% from 65%.
Mosman Oil and Gas Ltd (AIM:MSMN) told investors to expect initial production flow rates from the Cinnabar-1 well in Texas by mid-December after a revision to the schedule for site operations.
The company, in a brief statement, detailed that the Cinnabar well is now in the process of being completed and placed on production.
Jeremey Hunt has already warned that the Autumn Statement will see “eye-watering” decisions that need to be made on spending cuts and tax increases, with many moving parts that investors will want to keep an eye out for (see the full Autumn Statement preview here)
Before that, there will be a busy morning of financial news, including from Royal Mail owner International Distributions Services PLC (LSE:IDS) (International Distributions Services PLC (LSE:IDS)), which will report half-year results amid a continued uncomfortable atmosphere for investors, management and workers.
Tullow Oil PLC (LSE:TLW) told investors it has delivered on its operating and financial targets in the first 10 months of 2022, as it narrowed guidance for the full year to between 61,000 and 62,000 barrels of oil per day (from 60,000 to 64,000).
“Our producing assets continue to perform well, in line with expectations,” chief executive Rahul Dhir said in a statement.
Parkmead Group (AIM:PMG) is launching a new two-well drill programme offshore the Netherlands, targeting gas prospects that can be fast-tracked into production.
The company, in a statement, said that the rig for the drill programme has now been mobilised.
Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) has extended an exclusive deal with partner Nouryon.
The company, in a statement, said its agreement – which covers supply of goods, services and IP for future products – will now run for a further three years, until October 2025.
Canadian Overseas Petroleum Limited (LSE:COPL, CSE:XOP) posted flat revenues in its latest quarter as weaker crude prices offset an increase in production following the acquisition of assets from bust partner Cuda Energy.
Net average crude oil sales before royalties averaged 1,107 barrels daily (bbls/d) against 961 bbls/d in the second quarter of 2022, though this would have been higher without operational interruptions at some high-impact wells.
Zephyr Energy PLC has upped its forecasts for production and revenue this year from its assets in the Williston Basin, North Dakota, after another strong quarter.
Revenues in the three months to end-September 2022 totalled US$9.6mln net to Zephyr, making US$35.5mln for the nine months this year so far.
Europa Oil & Gas (Holdings) PLC (AIM:EOG) has highlighted a quadrupling of revenue and a sharp rise in profits as it continues to benefit from the stronger-than-originally-predicted performance at the Wressle field and higher oil prices.
The UK onshore oil company, in its final results statement for the year ended 31 July 2022, it reported £6.6mln of revenue, up from £1.4mln in 2021, and a £1.4mln pre-tax profit improved from £850,000.
Union Jack Oil PLC (AIM:UJO)'s running revenue tally at the Wressle field has now reached US$11mln and the company told investors that there has been “another impressive performance” since its last production update.
The company, in a statement, said that it has now generated US$11mln from Wressle since the field’s restart in August 2021.
Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF) (DEC) raised its annualised quarterly dividend by 3% to 4.375c and said it had closed a fourth debt securitisation this year following the recent acquisition of assets from ConocoPhillips (NYSE:COP).
Average production in the three months to end-September 2022 was 135,000 barrels daily (808mln cubic feet gas equivalent), which DEC said was consistent with its estimated decline rate.