Positive news for Falklands' oil industry development. All regulatory consents for the transaction between Harbour Energy plc and Israel's Navitas Petroleum LP of its Falkland Islands offshore license interests have been approved by the Falkland Islands government and the United Kingdom minister of state.
Rockhopper Exploration plc (AIM: RKH), the oil and gas exploration and production company with key interests in the North Falkland Basin, confirms it will be hosting a retail investor meeting this Thursday, 30 September 2021.
Argos Resources has successfully secured a 12-month extension to the second term of its Production Licence in the North Falkland Basin, the company announced this week. The extension, which runs until 1 May 2022, was approved by the Falkland Islands Government’s Executive Council on March 24.
The Falkland Islands government has agreed to extend each of Rockhopper Exploration plc’s offshore North Falkland basin petroleum licenses, including the Sea Lion discovery area, until Nov. 1, 2022. The extension includes no additional license commitments. The previous expiry date was May 1, 2021.
Falkland Islands' based Argos Resources Ltd said on Friday its interim loss widened on foreign exchange movements, but it has enough cash to continue for another year as some costs have been delayed.
Argos Resources Ltd on Monday swung to an interim loss and said it is adequately financed for the next 12 months as it continues to receive quarterly cash payments from two companies that withdrew from a production license offshore the Falkland Islands.
Oil and gas exploration firm Rockhopper Exploration, with interests in the Falklands and preparing to advance with the Sea Lion project, has agreed to sell its assets in Egypt to United Oil & Gas in a US$ 16m deal. The sale of Rockhopper Egypt includes a non-operated 22% interest in the Abu Sennan concession onshore Egypt and the existing assets of the business.
Britain’s Premier Oil increased its 2019 production guidance on Thursday, saying output had been boosted by efficiency measures and a late sale from its now-divested Pakistan oil fields. The company said it now expects output to reach 75,000 to 80,000 barrels of oil equivalent per day (boed) this year, from up to 75,000 boed previously.
Oil companies Noble Energy and Edison have decided to relinquish their stakes in the PL001 offshore license in the Falkland Islands according to Offshore Energy Today. Argos Resources had held a 100% in the PL001 block before the two companies’ farm-in back in 2015. Argos’ shares fell 30% following the announcement.
Rockhopper Exploration and operator Premier Oil have submitted a revised draft field development plan for the Sea Lion Phase 1 project to the Falkland Islands government. According to Rockhopper, a final submission should follow in the lead-up to sanction of the project, in the offshore North Falkland basin.