First Oil Expro buys Antrim assets off UK for $48 millionCalgary-based Antrim Energy Inc. agreed to sell its UK subsidiary Antrim Resources (NI) Ltd. to First Oil Expro Ltd. for US$48 million cash (C$53 million) plus the assumption of certain liabilities and working capital obligations. The UK business unit's primary asset is a 35.5% stake in the Valiant Petroleum-operated Causeway license, which contains the Causeway oil field online since November 2012 as well as the West Causeway area.First Oil will also gain an incremental 8.4% in the...
Feb 10, 2014
Antrim to acquire all of Fyne license in UK North SeaAntrim Energy Inc., under the terms of its joint operating agreement, will acquire an additional 25% WI and associated reserves in UK Central North Sea license P077 Block 21/28a (the Fyne license) from First Oil Expro Ltd. at no cost.Antrim's WI in the Fyne license will increase to 100%, contingent on approval from the UK Department of Energy and Climate Change. The company recently acquired the WI of Premier Oil UK Ltd.Upon DECC approval of the WI changes, Antrim intends to submit a...
May 09, 2012
Top five stock winners & losers - May 4, 2012Africa Oil saw shares surge 58.5% on its announcement of an oil discovery at the Ngamia-1 well in Kenya's Lokichar basin, where the Vancouver-based explorer holds 50% WI in partnership with operator Tullow. The companies plan to drill four more exploration wells in block 10BB this year and to shoot 2,000 km of 2D seismic.Shares of WesternZagros Resources gained 27.5% after the company raised its estimate of mean unrisked contingent recoverable oil at its Kurdamir-2 exploration well in...
May 04, 2012
Antrim signs deal to develop Fionn field, UK North SeaAntrim Energy Inc. signed an agreement with Valiant Petroleum plc to proceed with early installation of subsea facilities for the development of the Fionn Field in the UK northern North Sea. Antrim holds a 35.5% WI the block.
The Fionn Field was previously referred to as the Central Causeway fault block. In December, the UK Department of Energy and Climate Change assigned separate field designations to the Fionn Field and the Causeway Field, the latter containing the two fault blocks...
Jan 28, 2012
Antrim finds oil on Erne prospect in U.K. North SeaAntrim Energy Inc. drilled its Erne exploration well 21/29d-11 (50% WI) in the UK Central North Sea to a total depth of 5,562 feet. Preliminary findings indicate a thick gross hydrocarbon column in excess of 50 feet in the Eocene Upper Tay Sandstone, including 20 feet of net oil pay and a separate 10 feet of net gas pay with average porosity exceeding 30% and average hydrocarbon saturation of ~80%.
Antrim and partner Premier Oil UK Ltd. have agreed to drill a sidetrack well from the pilot hole...
Dec 13, 2011
People & Companies Briefs - September 15, 2016Antrim Energy shareholders have voted to elect Stephen Greer, Erik Mielke, Jim Perry and Anthony Potter as directors at the company’s Aug. 30 annual meeting. Greer was CEO of Antrim from 1999 to October 2014, while Mielke is VP of business development at Buried Hill Energy. Perry formerly served as CEO of Alternative Fuel Systems, a subsidiary of IMPCO Technologies Canada. Potter currently serves as Antrim’s CEO and CFO. Mielke subsequently resigned from the...
Sep 15, 2016
International Briefs - July 09, 2015• Antrim Energy has entered into a contract with UK-based Offshore Installation Services to plug and abandon Antrim's four suspended subsea wells in the UK Central North Sea. The total cost is estimated at $9.3 million. The contract includes the abandonment of three suspended wells on the Fyne License and one on the Erne License (P1875, Block 21/29d). OIS is executing the contract as part of a 10-well abandonment campaign including six Central North Sea wells from another operator.•...
Jul 09, 2015
People Briefs - April 07, 2015UK North Sea and Ireland explorer Antrim Energy named president and CEO Anthony J. Potter to its board.Chevron vice chairman and upstream EVP George L. Kirkland is retiring effective June 16 after more than 40 years with the company. He will be succeeded in the EVP role by current upstream SVP James W. (Jay) Johnson. Before attaining his current position in 2014, Johnson was president of Chevron’s E&P unit for Europe, Eurasia and the Middle East and managing director of its Eurasia...
Apr 07, 2015
People Briefs - March 31, 2015Antrim Energy is appointing CEO Anthony Potter to the board. Potter is a chartered accountant with over 26 years of experience in the oil and gas business including extensive involvement with Canadian companies that have operations in Argentina, the United Kingdom and Eastern Europe. Antrim is a Calgary-based junior with assets in Ireland and the UK North Sea.Arcan Resources announced that Murray Hinz has resigned as a director of the company. Arcan is active in the Sawn Hills area of...
Mar 31, 2015
People Briefs - November 14, 2014•Antrim Energy president and CEO Stephen Greer has stepped down and will assume the role of chairman of the board. In result, Anthony J. Potter, Antrim CFO, will now act as the company's President, CEO and CFO. Additionally, Jim Smith and Colim Macleann will step down, leaving the board comprised of Stephen Greer, Gerry Orbell, Erik Mielke, Jim Perry and Jay Zammit.• Blackdog Resources Ltd has changed its name to StonePoint Energy and will trade on the TSX under "STO".•...
Nov 14, 2014
Financing Briefs - July 03, 2013• Alvopetro completed the second tranche of a $5.0 million non-brokered private placement of up to 20 million common shares at $0.25 per share. The company raised $575,000 by issuing 2.3 million shares, bringing the total raised so far to $2.0 million. Proceeds will be used for working capital and to finance the company's operations in Brazil. Alvopetro, formerly Fortress Energy, sold the majority of its Canadian oil and gas assets in 2010 to focus on shale/tight oil opportunities in...
Jul 03, 2013
Reserves Briefs 12/19/2012• Blackbird Energy Inc.'s 2P reserves for its ~12.5% interest in 2.25 sections of an eight-section block at Bigstone, Alberta have been estimated at 625,000 bbl of oil, based on the drilling of the first three wells on the property. The remaining undeveloped interest lands are offset by Montney wells drilled by other operators. The next phase of work at Bigstone will focus on proving up the potential of the remaining 5.75 sections of undrilled lands.• Argentina-focused Crown Point...
Dec 19, 2012
A&D News Briefs - May 30, 2012• Abraxas Petroleum acquired ~20,000 net acres in an emerging oil shale play in Alberta. The company believes the play has similar characteristics to the oil window in the Eagle Ford.• Antrim Energy and Crown Point Ventures said the required notice period to Antrim's partners in the company's assets in Tierra del Fuego, which provided them with the opportunity to exercise their contractual rights of first refusal to buy those assets, has expired without any rights being exercised. The...
May 30, 2012
Licensing Briefs (Short Stories: May 16, 2012)• Antrim Energy Inc. expects to regain operatorship in UK Central North Sea license P077 Block 21/28a in Fyne field from Premier Oil at no cost under the terms of its joint operating agreement. Antrim's current WI in the license of 35.1% will increase to between 58.4% and 100%, contingent on the election by the other party to the JOA.• Eco Atlantic Oil & Gas signed a farm-out agreement with Azimuth of Hamilton, Bermuda, an E&P company backed by Seacrest Capital and Petroleum...
May 16, 2012
A&D News Briefs (Short Stories; Aug 31, 2011)- Beach Energy has acquired an additional 14.25% stake in Adelaide Energy for $12.54 million, raising its stake in Adelaide to 19.95% and earning the right to nominate a new board director. Beach and Adelaide are JV partners in the Nappamerrri Trough acreage of PEL 218 in the Cooper-Eromanga Basin in Australia.
- BP has reportedly struck a deal to acquire an undisclosed minority stake in the Barreirinhas blocks on the Brazilian equatorial margin held by Brazil's Petrobras. Industry sources...
Aug 31, 2011