UK Oil & Gas has announced it has raised £5m in a placing, prompting a sharp fall in the share price.
The exploration and production company, IGas, said today it was reviewing its capital spending plans with the increase in the oil price.
Shareholders in most UK onshore oil and gas companies could be forgiven for looking forward to the end of 2019.
As 2018 concludes, DrillOrDrop has compiled some of the key statistics from the past 12 months for the UK onshore oil and gas industry.
Shares in UK Oil and Gas dropped by more than 35% this afternoon following the company’s announcement of possible formation damage at its Broadford Bridge oil exploration well and the prospect of drilling another sidetrack.