United Oil & Gas, as part of the Company s ongoing optimisation of its portfolio and capital allocation strategy, has signed a conditional sale and purchase agreement with PXOG Marshall, a subsidiary of Prospex Energy, for the sale of 100% of the share capital of UOG Italia for a consideration of €2.165 million in cash.
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UK: Serica Energy announces Columbus and R3 operational update
25 May 2021
AIM-listed
Serica Energy, a British independent upstream oil and gas company with operations centred on the UK North Sea and over 80% gas production, has provided an operations update.
The
Columbus development well
(23/16f-CDev1) in the UK Central North Sea was spudded in mid-March and drilled, as planned, to a total measured depth of 17,600ft. A 5,900ft horizontal section was drilled through the reservoir formations of the upper Forties and encountered a sequence of sands and shales, in line with pre-drill expectations. The well requires sand screens to be installed to prevent fine particles being produced; difficulties were encountered while running the screens and it was ultimately not possible to install them. As a result, the reservoir section of the well will be side-tracked and re-drilled, using data collected during initial drilling to optimise its trajectory and avoid the difficulties encount