Energy News Today

Diversified Gas & Oil PLC, Block Energy PLC, ADM Energy PLC, Mosman Oil and Gas Limited, US Oil & Gas PLC, 88 Energy Ltd, San Leon Energy PLC, Enteq Upstream PLC, United Oil & Gas PLC

Diversified Gas & Oil PLC (LON:DGOC) announced its bank lending group led by KeyBank National Association, reaffirmed an existing US$425mln borrowing base.

It is related to the oiler’s senior secured credit facility and there are no changes to pricing, covenants or other material terms after completing the credit facility’s semi-annual redetermination, the company said.

Block Energy PLC (LON:BLOE) is seeking to drill two wells, each targeting initial production of 600 barrels of oil equivalent per day (boepd), and spud a third well by the end of 2021, the company said as it set out its objectives for the year.

Its current production rate across all of its licences (excluding WR-16aZ well, which is undergoing intervention) is 555 boepd, based on a 30-day average, the company said alongside a first-quarter operational update.

Jersey Oil and Gas PLC (LON:JOG) said it completed the £150,000 deal to take full ownership of Licence P2170, which hosts most of the Verbier discovery and is one part of the Greater Buchan Area (GBA) development project.

ADM Energy PLC (LON:ADME) announced it has completed the 15th lifting at the Aje Field, part of OML 113 offshore Nigeria.

The investing company said the lifting totalled 225,000 barrels as 52,000 barrels were left in the tank, while its net share will be 27,675 barrels equating to its paying interest of 12.3%.

Mosman Oil and Gas Limited (LON:MSMN) has acquired an additional 20% interest in the Duff lease in Texas.

The lease covers 36 acres in the Greater Stanley Project, adjacent to the Stanley Project with Mosman’s working interest in Duff rising to 40% through the acquisition.

US Oil & Gas PLC (LON:USOP) announced it submitted Notices of Staking (NoS) to the Bureau of Land Management (BLM) to drill three wells on the West Play of its acreage in Hot Creek Valley, Nevada.

88 Energy Ltd (LON:88E) said drilling the Merlin-1 well at Project Peregrine, in the NPR-A region of the North Slope of Alaska, provided encouragement but equipment failure prevented hydrocarbon samples from being taken yet.

Multiple prospective zones were identified as part of the first run of the wireline programme that were consistent with the shows and logs obtained while drilling.

San Leon Energy PLC (LON;SLE) said a drilling rig has been contracted for the Oza-1 re-entry well in Nigeria.

Canadian group Decklar Resources is the operator and said yesterday that mobilisation of the rig is anticipated to commence next week.

Enteq Upstream PLC (LON:NTQ) said results for the fiscal year just ended are expected to be in line with expectations.

The energy technology group expects revenues in the region of US$5.00mln for the year to the end of March and to break even at the EBITDA (underlying earnings) level.

United Oil and Gas PLC (LON:UOG) said it achieved a positive outcome in its drilling of the ASD-1X exploration well in the Abu Sennan concession.

Preliminary results suggest the ASD-1X exploration well encountered a total of at least 22mln net oil pay interpreted across a number of reservoirs, including the Abu Roash C, Abu Roash E, Lower Bahariya and Kharita formations.

Read More: Diversified Gas & Oil PLC, Block Energy PLC, ADM Energy PLC, Mosman Oil and Gas Limited, US Oil & Gas PLC, 88 Energy Ltd, San Leon Energy PLC, Enteq Upstream PLC, United Oil & Gas PLC

2021-04-10 03:51:00

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