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.
DrillOrDrop’s round-up of the possible action on UK fracking and onshore oil and gas developments in 2020.
Shareholders in most UK onshore oil and gas companies could be forgiven for looking forward to the end of 2019.
Angus Energy has outlined plans for the Saltfleetby gas site in Lincolnshire after approval of its acquisition of a 51% stake.
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Angus Energy has raised a £1.5m loan facility to pay for the costs of decommissioning oil and gas wells.
“I love it because it is not oil”, the head of Angus Energy said of his new gas asset in Lincolnshire.