UKOG issues 637m new shares to fund cuts in the cost of oil production
The company behind oil production at Horse Hill in Surrey has raised £1.275m in a share placing to pay for cost cuts.
“Oil prices to remain low and very volatile”
The former head of BP and the fracking firm Cuadrilla has warned that oil prices will remain low for “some considerable time”.
2019 UK onshore oil production continues downward trend
UK onshore oil production fell in 2019 to its lowest point for eight years, official data has revealed.
Europa cuts costs to fund Wressle oil production
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.
Wressle production will “break even at $17.62/barrel” – operator
Production from the Wressle oil site near Scunthorpe will break even at $17.62 a barrel, the operator, Egdon Resources, has said. In an update, the company’s managing director, Mark Abbott, said: “Our modelling shows that the Wressle development is economically robust at and below the current oil price […]
UKOG announces OGA production consent for Horse Hill oil site
UKOG has announced that it has consent for long-term production from its Horse Hill site in Surrey from the Oil & Gas Authority (OGA).
Angus counts on production at Saltfleetby and Balcombe
Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
Climate impact of burning Horse Hill oil was not council’s concern, says judge
Planning approval at an onshore drilling site in Surrey did not need to take into account the climate effects of burning produced oil, a High Court judge ruled this morning.
Balcombe villagers accuse Angus Energy of “cutting corners” on environmental protection
Measures to protect the environment during proposed work at the Balcombe oil site in West Sussex are “inadequate, incomplete and misleading”, villagers have complained.
Court date in challenge to approval of Horse Hill oil production
A Surrey resident is going to the High Court for the right to challenge the approval of 20 years of oil production at the Horse Hill site near Gatwick Airport.
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