Shareholders in most UK onshore oil and gas companies could be forgiven for looking forward to the end of 2019.
Angus Energy announced today it had raised just over £3m in a placing of more than 70 million new shares.
Angus Energy has announced initial flow rates of 40 barrels of oil per day at its horizontal production well at Lidsey in West Sussex. Five months ago, Angus predicted a sustained 400 barrels a day at Lidsey (interview with IG Analysis).
Francis Egan on drilling in 2017, low gas prices, financing expansion and how many wells can you fit on a site
The chief executive of shale gas company, Cuadrilla, gave evidence last week to peers on his company’s operations, financing and plans for the future.
IGas investors were watching share price movements this morning after news that the company would not breach its daily liquidity obligations this year.
The last excavator was moved off Rathlin Energy’s Crawberry Hill drilling site in East Yorkshire this afternoon. All the cabins have now gone and a small tarmac access to the field is all that remains of the site, where a well was sunk in 2013.
The short answer is not many companies sank wells anywhere onshore in 2015. The number of oil and gas wells drilled in the UK in 2015 was the lowest for almost 40 years.