Search results for: PA Resources

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  • 18 November 2015

    Swedish oil and gas company PA Resources will sell its assets and subsidiaries, appoint new CFO, and delist from Nasdaq Stockholm exchange. The company in April started a review of the company’s strategic options with regards to the PA Resources’s future. The main options explored were: the availability of long-term financing for the group, a […]

  • 9 May 2016

    PA Resources, a struggling Swedish oil company, has divested some more of its assets. This time in Tunisia. The company on Monday said it executed a sale and purchase agreement to sell its entire Tunisian asset portfolio, both onshore and offshore, to ETAP, the Tunisian national oil company, PA Resources, which became insolvent at the […]

  • 24 March 2016

    Swedish oil firm PA Resources AB has completed the sale of its North Sea assets to Omani Petrogas E&P. The transaction, announced in Ferbuary, means that Petrogas E&P has acquired PA Resources UK Limited, PA Resources North Sea Limited and PA Resources Denmark, which hold the company’s 24% interest in license 12/06 in Denmark as well […]

  • 28 December 2015

    Swedish oil company PA Resources is trimming its staff in order to reduce cost following the board’s decision announced on November 17, 2015 to sell all of PA Resources’ assets. The company on Monday said its cost reduction efforts would entail several organisational and management changes. The company’s London office, which is tasked with the management […]

  • 11 May 2015
    Business & Finance

    PA Resources, a Sweden-based oil and gas company, has announced that Jerome Schurink has decided to step down as director and chairman of the board in the company as a result of taking up a new position based in Dubai. The company said that the board of directors have appointed Philippe Probst as the acting chairman […]

  • 27 March 2015

    PA Resources AB, a Sweden-based oil company with assets in the North Sea and Africa, has failed in convincing its creditors to delay interest payment due in October 2014, until April 30, 2015. The cash-strapped oil company has for the past few months been in discussions with its creditors regarding a capital restructuring to establish a […]

  • 9 September 2008

    PA Resources is farming out a 72.5 percent interest in the exploration licence Marine XIV offshore the Republic of Congo. Under the deal, the Norwegian listed oil and gas group will sell 29.4 percent working interest in Marine XIV to SOCO Exploration and Production Congo (SOCO EPC). It is also selling 21.55 percent to a […]

  • 9 February 2016
    Business & Finance

    Swedish oil company PA Resources has signed an agreement to divest its portfolio of North Sea assets to Petrogas E&P.  The sale includes the company’s 24% interest in license 12/06 in Denmark, which holds the Broder Tuck and Lille John discoveries, as well as its exploration licenses in the UK, Germany and the Netherlands. According to the […]

  • 26 January 2015
    Business & Finance

    The board of Sweden’s PA Resources has approved the balance sheet for liquidation purposes and will convene an extra general meeting (EGM). In a press release dated January 20, 2015, PA Resources informed that a balance sheet for liquidation purposes would be prepared. The board of PA Resources has now approved the balance sheet for […]

  • 3 August 2015
    Project & Tenders

    Swedish PA Resources has submitted an updated Zarat Field Plan of Development to the Tunisian authorities. The development plans has been developed by an integrated team comprising of staff from both PA Resources and the state oil company, ETAP (L’Entreprise Tunisienne d’Activités Pétrolières). The Zarat Field is a large, shallow-water, gas-condensate and oil field containing estimated […]

  • 15 April 2015
    Business & Finance

    PA Resources, a Sweden-based oil explorer, will continue its restructuring efforts, after its largest creditor and shareholder, Gunvor Group decided to withdraw its petition for bankruptcy in PA Resources. On Sunday night Gunvor Group informed the company that it had filed an application for bankruptcy of PA Resources AB, but yesterday, April 14, 2015, it […]

  • 26 November 2012

     PA Resources has farmed out a 10% interest in German licence B20008/73 adjacent to the PA Resources operated Danish licence 12/06 in which the Broder Tuck and Lille John discoveries were made in 2011. Subject to the necessary regulatory approvals, the company’s subsidiary PA Resources UK Limited will farm out a 10% interest in Licence […]

  • 19 July 2011
    Business & Finance

    As operator of offshore Licence 12/06, PA Resources’ subsidiary PA Resources UK Limited announces initial results of the Broder Tuck exploration well (5504/20-4), located approximately 10 kilometres south of Gorm Field in the Danish part of the North Sea. Following some initial drilling problems, the well was drilled as a vertical well to a total […]

  • 26 October 2011
    Business & Finance

    PA Resources has encountered complications during flow testing of the new production well on the satellite field Didon North in Tunisia. It has been decided to suspend the well. Despite good oil saturation in the reservoir, only small amounts of hydrocarbons have been recovered from the Didon North well in recent flow tests. According to […]

  • 13 November 2014
    Business & Finance, Project & Tenders

    PA Resources has been provisionally awarded Blocks 22/18c and 22/19d, located in the North Sea Central Area, in the UK’s 28th Seaward Licensing Round.  PA Resources has been awarded these blocks as part of a group comprising of PA Resources (25 percent), E.On (40 percent), Cairn Energy’s wholly-owned subsidiary Nautical Petroleum (25 percent) and First Oil […]

  • 7 April 2014
    Business & Finance, Project & Tenders

    In May 2013 PA Resources entered into an agreement to sell to EnQuest 70% interests in, and to transfer the operatorship of, the offshore assets in Tunisia which include the Zarat Permit and the Didon Concession. Due to the political situation in the country the transaction is still waiting to be ratified by the Tunisian […]

  • 5 March 2014

    The Congolese government has approved a farm-out deal between PA Resources and SOCO international. PA Resources said that the designation of a 60 percent working interest in the Mer Profond Sud exploration area to SOCO, announced in November last year, has now received governmental approval, subject to regulatory approval to enter into the third and […]

  • 19 July 2011
    Research & Development

    As operator of offshore Licence 12/06, PA Resources’ subsidiary PA Resources UK Limited announces initial results of the Broder Tuck exploration well (5504/20-4), located approximately 10 kilometres south of Gorm Field in the Danish part of the North Sea. Following some initial drilling problems, the well was drilled as a vertical well to a total […]

  • 19 July 2011
    Business & Finance

    As operator of offshore Licence 12/06, PA Resources’ subsidiary PA Resources UK Limited announces initial results of the Broder Tuck exploration well (5504/20-4), located approximately 10 kilometres south of Gorm Field in the Danish part of the North Sea. Following some initial drilling problems, the well was drilled as a vertical well to a total […]

  • 15 June 2011
    Business & Finance

    The oil and gas company PA Resources announced a short update on production and sales at the Azurite Field offshore Republic of Congo. The last production well on the Azurite Field was commissioned as communicated on June 8 and is presently being monitored after initial clean-up. Present level of production on the Azurite Field is […]

  • 2 May 2013
    Business & Finance, Project & Tenders

    PA Resources has announced that the Carla South exploration well in Block I,in Equatorial Guinea, has encountered oil in good quality sandstones at the target level. The well will shortly be side-tracked to an adjacent target. The Carla South (I-7) exploration well, operated by Noble Energy, in Block I in Equatorial Guinea has reached a total […]

  • 15 May 2013
    Business & Finance

    The Board of Directors of PA Resources has decided with immediate effect to appoint Board member Philippe R Probst as the company’s CEO. Bo Askvik is thereby leaving his position as CEO but will be available to the company for a number of months. Philippe R Probst will be CEO during an interim period and […]