Egdon Resources is seeking to extend its planning consent for oil exploration at North Kelsey in Lincolnshire for another year.
Union Jack Oil announced this morning it had increased its interest in the Biscathorpe oil site in Lincolnshire.
Operators of a third of the UK’s newest onshore shale gas licences have been given more time for exploration.
North Lincolnshire Council has paid costs of £403,000 after losing an appeal on plans for oil production at Wressle, the site operator has confirmed.
The exploration and production company, Union Jack Oil, is planning to withdraw from three licences in 2020 because of falls in their value.
Updated 24 April 2020 The investment bank, VSA Capital, has hinted that politics, rather than science, could overturn the moratorium on onshore fracking in England.
The former head of BP and the fracking firm Cuadrilla has warned that oil prices will remain low for “some considerable time”.
Egdon Resources has said it is cutting costs because low oil prices following the coronavirus outbreak have hit profitability in its fields.
Europa Oil & Gas, one of the main investors in oil production plans at Wressle, announced today it had cut salaries and cancelled non-core contracts because of the coronavirus outbreak and oil price falls.
An oil formation in Lincolnshire, missed by a well drilled last year, could be reached by a new sidetrack, a group of companies said today.