Losses widen at Angus Energy on derivative swap
Angus Energy has reported widening annual losses because of a derivative swap.
Angus Energy has reported widening annual losses because of a derivative swap.
Drilling of a delayed sidetrack at the Saltfleetby gasfield in Lincolnshire will begin next month, the site operator, Angus Energy, has said.
Shares in Angus Energy rose 28% today on news that the company had begun processing wellhead gas from its B2 well at Saltfleetby in Lincolnshire.
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.
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.