Xcite Energy making progresss in North Sea
13th Jun 2012 09:34
Drilling on its Bentley Field in the North Sea is going well for AIM-listed oil and gas firm Xcite Energy. The group reported that its 9/3b-7z well on the Bentley Field has reached target depth of 9,646 feet (ft) measured depth and a reservoir section in excess of 2,000 ft has been drilled with 100
Read moreXcite receives more support from BP
12th Jun 2012 07:39
AIM-listed oil and gas firm Xcite Energy has amended an agreement with BP Oil International (BPOI) which will see BPOI provide more funding for Xcite's flagship Bentley field in the North Sea. The agreement, originally announced in January 2010, will see BPOI provide the offtake services to market
Read moreResource round-up: Angel Mining, Xcite Energy, Roxi Petroleum
29th May 2012 09:33
Angel Mining shares fell on Tuesday despite announcing a new monthly gold production record that gave it confidence its Nalanuq mine would soon hit commercial production targets. Investors pushed the shares down 3.5% after the firm also announced it had discovered a fault running just above the gol
Read moreExcite Energy acquires tanker vessel
8th May 2012 13:00
Excite Energy, a North Sea focused oil company, has signed a time charter contract with Teekay Navion Offshore Loading for a shuttle tanker vessel. The tanker, known at the Scott Spirit, is to be used as the in-field storage and offtake facility for Bentley crude oil during the Phase 1A of the Ben
Read moreXcite ponders options for next Bentley phase
27th Apr 2012 11:48
North Sea focused oil company, Xcite Energy, says it has secured funding for the first phase of development of its wholly-owned Bentley field. The group said it is seeking external sources for second phase work. Xcite is also talking to banks about securing lending facilities against proved reserv
Read moreXcite making progress on Bentley block
2nd Apr 2012 07:49
North Sea-focused oil group Xcite Energy said that good progress is being made in drilling its Bentley field. The Bentley 9/3b-7 well, which was spudded on March 18th, is currently being drilled for a 36" hole and to set the 30" conductor pipe. "The 26" hole has been directionally drilled and the 2
Read moreXcite Energy finally spuds Bentley
19th Mar 2012 07:20
Xcite Energy has finally started drilling at its Bentley Field in the North Sea. The oil company announced on Monday morning that it has "spudded" the 9/3b-7 well. This is a big step for Xcite, which had faced concerns that it didn't have the finance to bring the site to production, despite there
Read moreXcite gets tanker but still waiting on approvals
14th Dec 2011 10:55
Xcite Energy, the North Sea focused oil company, has managed to secure a storage tanker as it battles to bring its Bentley field to full production. Xcite is under mounting pressure from its shareholders over when (or whether) it will extract some of the 115m barrels of probable reserves claimed fo
Read morePetrolatina refinances on better terms
12th Dec 2011 14:06
PetroLatina, an independent oil and gas exploration and production company, has tied up a refinancing deal with French bank BNP Paribas. The oil firm entered into a four year senior secured credit agreement worth $100m with the French lender to repay and replace its existing facility with Macquarie
Read moreXcite Energy investors continue to worry over Bently
12th Dec 2011 13:22
Following demand from its shareholders for more information, Xcite Energy has given an update on the development of the Bently field, about which the Department for Energy and Climate Change (DECC) has had concerns. At the start of December, the firm announced that it had "re-configured its approa
Read moreXcite Energy falls despite rig hire
5th Dec 2011 08:39
Xcite Energy, the North Sea focused oil explorer, saw its share price drop 5% in early trading following the announcement that it has agreed to hire a jack up rig to work in its Bentley field. Xcite has come under intense scrutiny by the UK government which is thought to be concerned over whether t
Read moreXcite Energy plummets on concerns over capital
1st Dec 2011 11:32
Xcite Energy, the North Sea focused oil company, has fallen dramatically this morning following an announcement that it has "re-configured its approach" to development of the Bentley field. The re-configuration (essentially a rescheduling of drilling operations) follows feedback from the Department
Read moreXcite continues progress in Dundee
15th Nov 2011 12:53
North Sea oilfields operator Xcite Energy has reported continued progress in its technical and operational plans during and beyond the three months ended 30 September. The firm is currently undergoing the first phase development of the Bentley field in Dundee, where the Rowan Norway jack-up rig has
Read moreXcite Energy triples agreement to £150m
10th Oct 2011 15:48
North Sea oilfields operator Xcite Energy has increased its standby equity distribution agreement (SEDA) with partner YA Global Master SPV by £50m to £150m. Funding from the SEDA will be used as future working capital for the company and to fund the work required to achieve first oil from the Bent
Read moreXcite raises £4.2m to develop North Sea oil field
19th Jul 2011 12:54
North Sea oilfields operator, Xcite energy, has raised £4.2m through a standby equity distribution agreement. This funding will be used as future working capital for the company and to help the company press ahead with first stage production of its Bentley field, Xcite said. The company said it ha
Read more