PREMIUM
BP started production from the giant Clair Ridge field West of Shetland in 2018, with partners including Shell and America’s Chevron Picture: BP BP has tripled first quarter profits after feeling the benefit of increased oil prices and the start of production from a big North Sea field. The oil and gas giant made $2.6 billion (£1.9bn) profit net of one-offs in the three months to March 31 on the measure followed by analysts compared with $0.8bn in the same period last year. Chief executive Bernard Looney said the result reflected a strong business performance and the recovery in the commodity price environment, which has accompanied the rollout of coronavirus vaccines.
UK: EnQuest signs SPA for 100 per cent equity interest in the Bentley discovery
26 Apr 2021
Whalsay Energy Holdings to purchase their entire
100.00% equity interest in the P1078 licence containing the proven Bentley heavy-oil discovery. This discovery is within c.15 kms of the Group s existing Kraken and Bressay operated interests, offering further long-term potential development opportunities and other synergies. The transaction will be effected through the acquisition of Whalsay s subsidiary, Whalsay Energy Limited ( WEL ) which holds the licence as its only asset, on a cash, liability and debt free basis.
Bentley is located within c.15 kms of EnQuest s existing Kraken and Bressay operated interests (Source: Whalsay Energy)
26 April 2021 | 09:15am
StockMarketWire.com - Oil and gas production and development company EnQuest said it had signed a share purchase agreement with Whalsay Energy to purchase their 100.00% stake in the P1078 licence containing Bentley heavy-oil discovery. This discovery is within c.15 kilometres of the group s existing Kraken and Bressay operated interests, offering further long-term potential development opportunities and other synergies, the company said.
Completion of the deal would be depend on the satisfaction of a number of conditions precedent, including the UK Oil and Gas Authority granting an extension of the existing licence term, which is currently due to expire 30 June 2021, and the receipt of other third party approvals.
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