The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksAEY.L Share News (AEY)

  • There is currently no data for AEY

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Antrim's 2 fields shut after leak in UK Brent pipeline system

Wed, 16th Jan 2013 15:35

* Production halted at Causeway, Cormorant East fields * Analyst says impact on Antrim could be minor * Antrim shares fall as much as 4 percent By Krithika Krishnamurthy Jan 16 (Reuters) - Antrim Energy Inc saidtwo of its oil fields in the North Sea went off productionfollowing a leak in an oil pumping station that is part ofBritain's North Sea Brent pipeline system, sending its sharesdown 4 percent. The leak at one of the legs of the Cormorant Alpha platform,operated by Abu Dhabi oil company Taqa, has disruptedproduction at more than 20 oil fields in the northern North Sea,Antrim said. Antrim said production was stopped at the Causeway field andthe cormorant East field and that all pipeline infrastructureassociated with the Cormorant Alpha platform were shut in. Calgary-based Antrim has a 35.5 percent stake in theCauseway field, which produced an average of 4,800 barrels ofoil per day (bpd) in November. Britain's Valiant Petroleum Plc owns the rest of the field and operates it. Antrim owns 8.4 percent of the cormorant East field, whichstarted production on Monday with an initial rate of about 5,500bpd. Taqa owns 60 percent of the field and operates it, whileFirst Oil Expro and Granby Enterprises Ltd are the otherstakeholders. "The impact on Antrim could really be quite minor and whatI'm reading appears to be minor, but we don't know..." saidanalyst Bill Newman of Mackie Research Capital. "We're going tomonitor Taqa's update for now." Taqa said it shut down all pipeline infrastructure runningthrough the Cormorant Alpha platform, and that it had no restartdate, sending crude oil prices surging to $111 a barrel onWednesday. At $110 per barrel, the lost production is worth about $10million per day, said Mike Tholen, economics director at Oil &Gas UK, a trade association for the offshore oil and gasindustry. () He estimated that oil produced from the affected fieldsaccounts for about 10 percent of UK's production of 1 millionbarrels per day. Shell UK said the shutdown has not had any directimpact on its Brent Field installations. Shares of Antrim, valued at about C$103 million, were at a two-week low of 54 Canadian cents on Wednesday morning. Theyhave lost nearly a third of their value over the past threemonths.
More News
29 Jul 2014 15:35

Antrim Energy finds potentially big oilfield off Irish coast

Shares in Canadian oil & gas explorer Antrim Energy more than doubled after it said it had found a potentially large oilfield off the coast of the Irish Republic. The stock rose 4.6p or 142.3% to 7.9p at 14:46 in London after Antrim said a prospective resources report on its Frontier Exploration Li

Read more
29 Jul 2014 11:40

UK MIDDAY BRIEFING: Next Remains Stand-Out UK Retailer

Read more
29 Jul 2014 11:09

UK WINNERS & LOSERS: Next Jumps After Further Profit Upgrade

Read more
29 Jul 2014 10:53

Antrim Energy's FEL 1/13 Has Potential 1.1 Billion Barrels Of Oil Equivalent

Read more
7 Apr 2014 11:40

UK MIDDAY BRIEFING: GlaxoSmithKline Investigates Iraq Allegations

LONDON (Alliance News) - Pharmaceuticals giant GlaxoSmithKline has confirmed that is investigating allegations of improper conduct in its Iraq business.

The Wall Street Journal had cited a person familiar with the matter saying that Glaxo was violating US and UK ant

Read more
7 Apr 2014 10:41

UK WINNERS & LOSERS: Tech Stocks Among Biggest FTSE Losers

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.

-------

FTSE 100 - WINNERS

CRH, up 0.7%. The building materials group is receiving a boost from some merger and acqui

Read more
7 Apr 2014 10:26

Antrim Energy Jumps As Shareholders Agree To Sale Of Subsidiary

LONDON (Alliance News) - Antrim Energy Inc Monday said its special resolution to approve the sale of its Causeway, Kerloch, and Cormorant East assets in the North Sea was passed at its recent shareholders meeting, helping to offset some of its financial difficulties. The oil and gas explora

Read more
28 Mar 2014 10:36

Antrim Energy Pretax Losses Narrow, Doubts Remain Over Company's Future

LONDON (Alliance News) - Antrim Energy Inc Friday said its pretax losses narrowed significantly in its full-year 2013 but that there remain significant doubts over the future of the company. The oil and gas exploration company, which is yet to produce any revenues, said its pretax loss narr

Read more
10 Feb 2014 16:43

STOCKS NEWS EUROPE-UK's AIM index outpaces blue-chips

The junior-listed FTSE AIM All Share Index closes up 0.4 percent to outperform a 0.3 percent gain on the blue-chip FTSE 100 index. The FTSE Small Cap Index rises 0.2 percent, while the FTSE 250 mid-cap index advances by 0.3 percent. Sterling Energy closes up 2.5 percent after it says

Read more
10 Feb 2014 13:17

UK MIDDAY BRIEFING: Barclays Up Despite Confirming Profit Fall

LONDON (Alliance News) - Barclays shares are higher Monday despite the bank confirming that its 2013 pretax profit excluding provisions will drop by over GBP2 billion and as it launched a probe into allegations that details of tens of thousands of its account holders have been

Read more
10 Feb 2014 11:40

UK WINNERS & LOSERS: Centrica, SSE Fall After UK Energy Secretary Letter

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday. ------- FTSE 100 - WINNERS Barclays, up 1.9%. The bank is amongst the leading blue-chip gainers despite saying that it will report a GBP5.2 billion adju

Read more
10 Feb 2014 10:16

Antrim Energy Enters Deal To Sell UK Subsidiary

LONDON (Alliance News) - Antrim Energy Inc said after the market close on Friday that it has entered into an agreement for First Oil Expro Ltd to buy its UK subsidiary, Antrim Resources Ltd for USD53 million in cash. The oil and gas exploration company stated that the deal also includes the

Read more
10 Feb 2014 09:35

Antrim Energy sells UK subsidiary to raise cash

North Sea and Ireland oil explorer Antrim Energy is offloading its UK arm for 53m dollars to fund higher-than-expected project costs, boosting its shares. Antrim, which has two producing North Sea fields, has agreed to sell Antrim Resources to First Oil Expro, although it will keep its interests in

Read more
15 Nov 2013 17:13

STOCKS NEWS EUROPE-UK small caps advance, AGA strong gainer

The FTSE Small Cap index edges up 0.1 percent, while the FTSE AIM index slips 0.1 percent, lagging a 0.4 percent rise on the FTSE 100 . Shares in AGA Rangemaster rise 6.7 percent as the kitchen furniture maker says its cooker orders are up by more than 15 percent so far this year. Vol

Read more
15 Nov 2013 12:37

UK WINNERS & LOSERS: IAG Dives Despite Raising Profit Guidance

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.