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Announcing its financial results for the 12 months ended 31 December 2021, Ithaca Energy announced that, on February 28 it had signed a Sale and Purchase Agreement for the acquisition of Summit Exploration & Production, based on a headline consideration of $224m.
IGas Energy has become part of an academic - industry consortium called Net Zero RISE (Research Infrastructure for Subsurface Energy). Its aim is to repurpose existing onshore oil and gas infrastructure as research sites for carbon sequestration, hydrogen storage and closed-loop geothermal technologies.
Summit Exploration and Production has announced the farmout of UK Central North Sea Licence P.2382 (Block 22/14c) to Dana Petroleum. Licence P.2382 contains the K2 prospect a low-risk, gas, exploration target that is within close proximity to established infrastructure.
Dagang NeXchange Bhd (DNeX) rose as much as four sen or 4.91% to 85.5 sen in active trade this morning after news of it winning a contract worth RM88.1 million from the Ministry of Finance (MoF) and its subsidiary's acquisition plans for the remaining 50% stake in the UK's offshore Avalon Oilfield.
Ping Petroleum has signed a sale and purchase agreement with Summit Exploration and Production to acquire its 50% interest in the Avalon oil field offshore UK.