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IGas production rates fall as costs increase

Mon, 04th Feb 2019 12:14

(Sharecast News) - Oil and gas outfit IGas saw production rates fall back and operating costs rise in its last trading year with chief operating officer John Blaymires.IGas saw its rate of oil production drop 3.3% to 2,258 barrels of oil per day in the year ended 31 December - while December marking a slight improvement on the yearly average at 2,365 boepd.Costs shot up 12% to $32m as a result of IGas' efforts to encounter hydrocarbons at its Tinker Lane asset came up short and lead to the abandonment and plugging of the site.On the other hand, IGas successfully completed its Albury gas-to-grid project with full production start-up and gas export to the grid starting at the end of November.Chief executive Stephen Bowler said: "2018 was yet again a very busy one across the business.""Production levels remain robust, and we were delighted that Albury was brought on stream, on schedule in the last quarter of 2018."Elsewhere, IGas revealed that chief operating officer John Blaymires had announced his intention to retire from the group upon completion of its Spring Road vertical well. Day-to-day operations will be taken over by the group's development, production and technical directors.As of 1210 GMT, IGas shares had dipped 1.53% to 79.37p.

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4 Nov 2019 08:36

UK shale gas explorers' shares fall on fracking moratorium

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4 Nov 2019 08:00

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14 Oct 2019 10:49

IGas Energy Moves To Execution Phase For New Welton Field Project

11 Oct 2019 10:21

IGas Energy Promotes Non-Executive Director Mcdowell As Chair

11 Oct 2019 08:06

IGas chairman stands down

(Sharecast News) - Oil and gas exploration firm IGas revealed on Friday that non-executive chairman Mike McTighe will step down from the role with immediate effect.

3 Oct 2019 11:51

Igas Energy Secures USD40 Million Lending Facility To Repay Bonds

18 Feb 2019 12:32

Monday broker round-up

(Sharecast News) - Centrica: Berenberg downgrades to hold with a target price of 140p.

21 Mar 2018 12:33

IGas Energy Annual Loss Narrows Significantly Ahead Of Busy Period

LONDON (Alliance News) - Hydrocarbon producer IGas Energy PLC on Wednesday posted a significantly narrowed loss for 2017, well ahead of its revenue growth, as it moves into a

14 Mar 2018 16:20

UK Earnings, Trading Statements Calendar - Next 7 Days

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29 Dec 2016 09:05

IGas Energy affected by low oil price, in talks with strategic investor

(ShareCast News) - Oil and gas explorer IGas Energy confirmed that it is currently in negotiations with a strategic investor in order to restructure the company due to the low price of oil. The AIM-listed company said that discussions with the strategic investor and other stakeholders and investors

29 Dec 2016 08:51

IGas Energy In Advanced Talks With Strategic Investor On Financing

20 Dec 2016 11:20

RPT-UPDATE 1-British shale gas gets boost from court ruling on permit

(Repeats to additional subscribers, no changes to text) * Third Energy shale permit first since ban lifted in 2012 * Friends of the Earth say to continue to oppose fracking * Third Energy says welcomes verdict By Karolin Schaps LONDON, Dec 20 (Reuters) - Britain's Hi

20 Dec 2016 11:13

UPDATE 1-British shale gas gets boost from court ruling on permit

* Third Energy shale permit first since ban lifted in 2012 * Friends of the Earth say to continue to oppose fracking * Third Energy says welcomes verdict (Adds details, background) By Karolin Schaps LONDON, Dec 20 (Reuters) - Britain's High Court ruled on Tuesday that a

20 Dec 2016 10:15

UK High Court upholds shale gas permit for Third Energy - claimants

LONDON, Dec 20 (Reuters) - Britain's High Court ruled on Tuesday that a local government's shale gas fracking permit award to developer Third Energy was legal, claimants Friends of the Earth said in a statement. "The High Court has ruled that fracking can go ahead in beautiful Yorkshire," s

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