IGas has confirmed it has relinquished the Tinker Lane shale gas licence in Nottinghamshire and written off £10m in exploration costs. But the company said it was continuing to work with regulators and government to end the moratorium on fracking in England.
Union Jack Oil reported today it had made about US$300,000 (£217,000) from test production at the Wressle well in North Lincolnshire.
The operator of the Horse Hill oil site in Surrey lost nearly £18m in the year to September 2020 –a more than 15-fold increase on the year before.
The UK’s largest producing onshore oil producer lost more than £100m last year, according to company accounts.
Rathlin Energy, the operator of two oil and gas sites in East Yorkshire, has declared an annual loss in 2020 of £1,015,920. This was slightly smaller than the previous year.
UK Oil & Gas plc has reported an operating loss of £1.02m for the six months to the end of March 2021.
Final consent had not yet been granted for the stimulation of the Wressle oil well in North Lincolnshire, Union Jack Oil confirmed today. But the company announced that tests on wells at two West Newton sites in East Yorkshire were expected soon.
The Horse Hill oil field in Surrey, once described by its owner as world class, was likened today to a “talented but troublesome teenager”.
The Australian mining company that owns Cuadrilla is back in profit, partly thanks to benefits from the UK tax system.
Egdon Resources reported a £4.75m loss today, along with falling production and revenues.