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New UK Licensing Round Not Likely To Increase Drilling Activity

The UK launched its 33rd offshore licensing round last week and Wood Mackenzie put in its two cents regarding the round.

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Wood Mackenzie: UK licensing round unlikely to reverse declining offshore drilling trend

Wood Mackenzie thinks exploration still has a role to play in the UKCS, but drilling activity is already at historic lows and the addition of new acreage – which will have been offered up in previous rounds – is unlikely to reverse that trend significantly. ....

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Neptune Energy Acquires Interest In The Pegasus West Discovery

Neptune Energy Acquires Interest In The Pegasus West Discovery
Neptune Energy today announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage (P1724, P1727, P4257 and P2128) in the UK Southern North Sea.
Pegasus West was discovered in 2014 and is currently operated by Spirit Energy.
Entry by Neptune into the Pegasus West Area aligns interests in both the discovery and the Neptune-operated Cygnus gas facility (Neptune Energy 38.75% and operator, Spirit Energy 61.25%) enabling acceleration of the development of Pegasus West as a subsea tieback to the existing Cygnus field.
Neptune will work closely with Spirit Energy on front end engineering and design (FEED) studies in 2021 with the intention to reach a final investment decision by year end. Once sanctioned, Neptune would become operator of the development through to first gas and into production. ....

United Kingdom , Alexandra Thomas , Neptune Energy , Spirit Energy , Pegasus West , United Kingdom Southern North , Pegasus West Area , Neptune Operated Cygnus , Managing Director , Greater Cygnus Area , ஒன்றுபட்டது கிஂக்டம் , அலெக்சாண்ட்ரா தாமஸ் , நெப்டியூன் ஆற்றல் , ஆவி ஆற்றல் , ஒன்றுபட்டது கிஂக்டம் தெற்கு வடக்கு , நெப்டியூன் இயக்கப்படுகிறது சிக்னஸ் , நிர்வகித்தல் இயக்குனர் ,

- Neptune Energy acquires interest in the...

Neptune Energy acquires interest in the Pegasus West discovery
édité le 04/05/2021 - Plus de news de Neptune Energy - Voir la fiche entreprise de Neptune Energy
Neptune Energy announced it has acquired a 38.75% equity interest from Spirit Energy in the Pegasus West discovery and surrounding acreage (P1724, P1727, P4257 and P2128) in the UK Southern North Sea.
Pegasus West was discovered in 2014 and is currently operated by Spirit Energy.
Entry by Neptune into the Pegasus West Area aligns interests in both the discovery and the Neptune-operated Cygnus gas facility (Neptune Energy 38.75% and operator, Spirit Energy 61.25%) enabling acceleration of the development of Pegasus West as a subsea tieback to the existing Cygnus field. ....

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- Export route confirmed for Pegasus West...

Export route confirmed for Pegasus West discovery
édité le 04/05/2021 - Plus de news de Spirit Energy - Voir la fiche entreprise de Spirit Energy
Spirit Energy can confirm that it has agreed to partner on the development of the Pegasus West gas discovery in the UK Southern North Sea with Neptune Energy.
Under the agreement, Neptune will farm-in to the Pegasus West discovery and surrounding acreage (P1724, P1727, P4257 and P2128) with a 38.75% interest, with Spirit Energy holding the remaining 61.25% stake and operatorship.
The licence interests match the partners equities in the nearby Neptune-operated Cygnus gas field, which under the agreement will become the host platform for the Pegasus development, subject to OGA approval. ....

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