Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIOG.L Share News (IOG)

  • There is currently no data for IOG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Independent Oil & Gas acquiring disused North Sea pipeline

Mon, 16th Jan 2017 13:01

(ShareCast News) - Development and production-focused oil and gas company Independent Oil and Gas announced on Monday it has signed a memorandum of understanding regarding the 100% acquisition of a currently disused pipeline in the Southern North Sea, for a nominal consideration.The AIM-traded firm said the pipeline will provide the proposed export route for its Southern North Sea assets.It said the MOU contains exclusivity provisions until 28 February, Independent's board said, with discussions regarding the sale and purchase Agreement at an advanced stage with all parties reportedly committed to completing this documentation and concluding the acquisition "at the earliest opportunity".Independent said it will assume operatorship of the pipeline at completion, and the liability for future decommissioning.Under the terms of the agreement, Independent would also acquire the associated onshore reception facilities.It said it plans to use the pipeline as the main export route for all of its Southern North Sea gas assets."This pipeline will be the cornerstone of our Southern North Sea portfolio which, subject to remediation, will enable us to deliver our approximately 0.5 trillion cubic feet of gas resources to the UK market," said CEO Mark Routh."During a period of relatively low gas prices we have bought, at very attractive prices, quality assets which were considered effectively stranded."Routh said, subject to completion of the acquisition, full ownership and control of the export route would create significant value for the company, especially given the recovery in UK gas prices."Owning our gas portfolio and export infrastructure 100% will enable us to accelerate both the development planning and funding processes."
More News
13 Jun 2023 11:18

IOG sees shares rise as North Sea well sees first gas after delays

(Alliance News) - IOG PLC on Tuesday finally confirmed first gas at its Blythe H2 well in the North Sea, after a suspected mechanical blockage and well control event caused delays in bringing the project onstream.

Read more
13 Jun 2023 09:58

AIM WINNERS & LOSERS: IOG up as first gas delivered at Blythe H2 well

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

Read more
7 Jun 2023 12:18

LONDON MARKET MIDDAY: Cautious trade as focus turns to rate decisions

(Alliance News) - Stock prices in London were mostly lower at midday on Wednesday, though large-cap indices eked out a gain, as investors looked ahead to a busy two weeks for central bank rate decisions.

Read more
7 Jun 2023 10:36

AIM WINNERS & LOSERS: IOG says gas flow at Blythe lower than expected

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Wednesday.

Read more
7 Jun 2023 09:26

IOG reports suspected downhole mechanical blockage in Blythe H2 well

(Alliance News) - IOG PLC on Wednesday reported a constrained maximum gas rate at the Blythe H2 well in the North Sea.

Read more
15 May 2023 12:20

IN BRIEF: IOG shares up as expects to start first gas at Blythe H2

IOG PLC - UK-focused offshore gas developer - Says the Blythe H2 well control event encountered from the Hauptdolomit is successfully isolated without any need to sidetrack the well. Says the H1 will be shut in once the H2 well is fully on stream, but will remain available for production. IOG says the first gas from the Blythe H2 well is expected to start by the end of the second quarter.

Read more
15 May 2023 10:45

AIM WINNERS & LOSERS: Lexington buys stake in Witwatersand gold fields

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

Read more
15 May 2023 09:19

LONDON MARKET OPEN: Currys outperforms; Wood Group plummets

(Alliance News) - Stock prices in London opened higher on Monday, as a strong performance from mining stocks helped to bolster a cautious optimism, despite concerns over the potential of a US debt default.

Read more
2 May 2023 20:16

TRADING UPDATES: Knights Group buys St James Law and Baines Wilson

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
25 Apr 2023 15:52

UK shareholder meetings calendar - next 7 days

Wednesday 26 April 
Alfa Financial Software Holdings PLCAGM
Allianz Technology Trust PLCAGM
Anglo American PLCAGM
Breedon Group PLCAGM
Breedon Group PLCCourt Meeting and GM re approval to move to the Main Market
Bunzl PLCAGM
Corcel PLCAGM
Croda International PLCAGM
Drax Group PLCAGM
Elementis PLCAGM
Global Invacom Group LtdAGM
Lancashire Holdings LtdAGM
Kazera Global PLCAGM
Metro Bank PLCAGM
Mobius Investment Trust PLCAGM
Nichols PLCAGM
One Media IP Group PLCAGM
Persimmon PLCAGM
RIT Capital Partners PLCAGM
Trian Investors 1 LtdEGM re share redemption
Trian Investors 1 LtdAGM
Thursday 27 April 
Admiral Group PLCAGM
AFC Energy PLCAGM
Alliance Trust PLCAGM
AstraZeneca PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Dial Square Investments PLCAGM
F&C Investment Trust PLCAGM
Flutter Entertainment PLCAGM
Gresham House Renewable Energy VCT 1 PLCAGM
Gresham House Renewable Energy VCT 2 PLCAGM
Helios Towers PLCAGM
Ibstock PLCAGM
International Personal Finance PLCAGM
Kerry Group PLCAGM
London Stock Exchange Group PLCAGM
Pershing Square Holdings LtdAGM
Quixant PLCAGM
Robert Walters PLCAGM
Schroders PLCAGM
Serco Group PLCAGM
STV Group PLCAGM
Synectics PLCAGM
Taylor Wimpey PLCAGM
Tissue Regenix Group PLCAGM
Weir Group PLCAGM
Friday 28 April 
AQRU PLCAGM
Audioboom Group PLCAGM
BBGI Global Infrastructure SAAGM
Everest Global PLCAGM
GetBusy PLCAGM
Greencoat Renewables PLCAGM
Greencoat UK Wind PLCAGM
Hikma Pharmaceuticals PLCAGM
JPMorgan Claverhouse Investment Trust PLCAGM
Kingspan Group PLCAGM
Minoan Group PLCAGM
Pearson PLCAGM
Rotork PLCAGM
Shanta Gold LtdAGM
Smurfit Kappa Group PLCAGM
Symphony International Holdings LtdAGM
Monday 1 May 
no events scheduled 
Tuesday 2 May 
Carr's Group PLCGM re annual report and directors remuneration report
CVC Income & Growth LtdAGM
IOG PLCAGM
Ocado Group PLCAGM
Plus500 LtdAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
25 Apr 2023 14:53

EXECUTIVE CHANGES: SulNOx shareholder wants chair and CEO out

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced on Tuesday and not separately reported by Alliance News:

Read more
18 Apr 2023 11:06

AIM WINNERS & LOSERS: Echo Energy production falls and cash runs short

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

Read more
18 Apr 2023 10:30

IOG encounters well control challenge after drilling Blythe H2 well

(Alliance News) - IOG PLC on Tuesday said it encountered a well control challenge after drilling at the Blythe H2 well, which could impact the well's expected duration by up to four weeks.

Read more
16 Mar 2023 14:48

EARNINGS UPDATES: Gym Group and PensionBee annual losses narrow

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
6 Mar 2023 10:57

IOG sets out Blythe H2 well drilling timetable after recent spudding

(Alliance News) - IOG PLC on Monday said it successfully spudded it Blythe H2 well on Sunday, adding it expects to take around three months to drill, complete and hook-up the well.

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.