The oil and gas explorer reported progress on key projects and strategic partnerships, but faces significant financial challenges with decreasing cash reserves, increasing borrowings, and market uncertainties in its pre-revenue stage.
The energy company has completed the sale of a 50% stake in its HALO Offshore UK subsidiary to Independent Power Corporation Plc, with plans to seek production acquisition opportunities for the joint venture.
The oil and gas explorer completed a major farm-out of its Pilot field, secured new licences, and is pivoting towards low-carbon energy projects. Despite operational progress, financial challenges persist with continued reliance on external funding.
The energy company announces a positive development for its Fynn heavy oil discovery, as Serica Energy acquires the licence and plans to work with Orcadian on a low-emissions project.
The energy company has agreed to sell a 50% stake in its HALO Offshore UK subsidiary to Independent Power Corporation Plc, with plans to pursue low-emissions gas production opportunities.
The energy company has agreed to sell a 50% interest in its Earlham and Orwell projects to a joint venture company, securing a carry arrangement for development costs and restructuring its debt.
Small oil and gas explorer Orcadian acquires dormant offshore company, with minimal impact expected.
The energy company has secured exclusivity for its Earlham project and plans to develop it as a low-emissions gas field, but faces ongoing funding challenges.
Oil and gas explorer Orcadian Energy has secured three new North Sea licenses, boosting its resource base and aligning with the UK's net zero goals.
Oil and gas explorer Orcadian secures funding and exclusivity for its Earlham project, a key asset in its portfolio.