Funding shortfall casts doubt over Rathlin Energy’s future
Rathlin Energy does not have enough money to meet its drilling and abandonment commitments in East Yorkshire, according to annual accounts published today.
Rathlin Energy does not have enough money to meet its drilling and abandonment commitments in East Yorkshire, according to annual accounts published today.
The industry regulator, the North Sea Transition Authority (NSTA), has extended the deadline for drilling plans at the West Newton field in East Yorkshire, it was reported today.
Rathlin Energy, the company which runs oil and gas sites in East Yorkshire, is seeking extra funding to pay for drilling and testing obligations.
UK Oil & Gas has said it could stimulate or sidetrack its second oil well at Horse Hill in Surrey to achieve long-term production.