The Horse Hill oil field in Surrey, once described by its owner as world class, was likened today to a “talented but troublesome teenager”.
IGas saw revenue drop by nearly half last year following production cuts and a falling oil price during the Covid-19 pandemic.
The largest investor in the Wressle oil field, Union Jack Oil, is seeking to enhance its image and attract a wider group of investors by reducing the number of shares in the company.
Angus Energy reports it has raised £1.5m in a placing of 150 million ordinary shares.
The exploration and production company, IGas, said today it was reviewing its capital spending plans with the increase in the oil price.
IGas declared a pre-tax loss of £59.1m for 2019 in its group annual results published today. This was up from £25.1m in 2018.
IGas has announced redundancies, including the chief finance officer, in a £1m cost-cutting programme.
In this guest post, Chris Hesketh makes the case for a post-Covid-19 recovery without fracking or unconventional gas extraction.
You can keep up with the news here with our digest of headlines about UK fracking, shale and onshore oil and gas, updated daily.
Two UK onshore companies announced today they were temporarily shutting-in some sites to cut production following falling oil and gas prices