Oil and gas pay the bills at Star Energy
Revenue from oil and gas is funding Star Energy’s move to geothermal energy, company accounts have revealed.
Revenue from oil and gas is funding Star Energy’s move to geothermal energy, company accounts have revealed.
Lower commodity prices hit Star Energy last year, the company revealed today in annual accounts.
Almost a fifth of UK onshore production fields have extracted no oil or gas in the past five years, according to analysis by DrillOrDrop.
Star Energy and Union Jack Oil have reported falling profits in interim accounts published this week.
Angus Energy’s gas site at Saltfleetby reached record levels for a second consecutive month since production resumed last year. This helped push the onshore contribution to total UK gas production to its highest level for a year.
DrillOrDrop’s review of the latest UK onshore production data for February 2023 reveals rising daily oil production but falls at the newest producing field at Wressle. Lower gas production at Saltfleetby contributed to falls in the UK onshore gas total.
One of the UK’s leading would-be fracking companies appears to be turning away from shale gas.
The shale gas company, IGas, said today it could drill 80 wells by this time next year, with the “right government support”.