Two UK onshore companies announced today they were temporarily shutting-in some sites to cut production following falling oil and gas prices
Angus Energy reported this morning it has withdrawn a planning application to test its oil well at Balcombe in West Sussex.
Shares in Angus Energy rose this morning as the company announced it had taken out a £1.4m loan with a property company.
UK onshore oil production fell in 2019 to its lowest point for eight years, official data has revealed.
Local authorities in England have been given new powers from tomorrow to hold meetings, including planning committees, by video or telephone conferencing.
A Balcombe resident has welcomed the report by West Sussex planners opposing Angus Energy’s proposed three-year well test in the village.
Decisions on plans for Balcombe and Broadford Bridge oil sites in West Sussex will be delayed because of the Covid-19 virus.
Proposals to test the Balcombe oil well in West Sussex would compromise the protected landscape of the High Weald, council planners said today.
Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
The Environment Agency has withdrawn its objection to plans for an extended well test at Angus Energy’s oil site at Balcombe in West Sussex.