revenue – DRILL OR DROP?

UKOG buys into “irresistible” Turkish licence

By Ruth Hayhurst on July 23, 2020 • ( 20 Comments )

The company behind oil drilling at Horse Hill in Surrey said this morning it had taken a licence stake in south east Turkey in the hope of “rapid monetisation” of reserves.

Losses mount at IGas

By Ruth Hayhurst on July 2, 2020 • ( Leave a comment )

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.

North west shale write-offs push up losses as IGas focusses on East Midlands

By Ruth Hayhurst on April 10, 2020 • ( 3 Comments )

Losses in IGas more than doubled in 2019 to more than £50m as the company turned its back on shale exploration in north west England, annual accounts have revealed.

Egdon’s late life oil fields “unprofitable” at current prices

By Ruth Hayhurst on April 3, 2020 • ( 8 Comments )

Egdon Resources has said it is cutting costs because low oil prices following the coronavirus outbreak have hit profitability in its fields.

Angus counts on production at Saltfleetby and Balcombe

By Ruth Hayhurst on March 5, 2020 • ( 32 Comments )

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.

Egdon faces joint threat of fracking moratorium, delays and low gas prices

By Ruth Hayhurst on January 4, 2020 • ( Leave a comment )

The moratorium on fracking, along with planning delays and weak commodity prices are a challenge for the future, Egdon Resources has concluded

Loss of Bury Hill Wood pushes Union Jack 2018 deficit over £1m

By Paul Seaman on May 13, 2019 • ( 4 Comments )

The onshore oil and gas company, Union Jack Oil has announced a loss of £1.1m in its accounts for 2018, published today. This compares with a deficit of £0.75m in 2017.