Search results for: Xcite Energy

103883 results

A list of search results

  • 3 February 2014
    Business & Finance

    Xcite Energy announces that Andrew Fairclough has been appointed Chief Financial Officer and a Director of the Company with immediate effect. Andrew Fairclough, aged 44, joined Xcite Energy Resources Limited in August 2012 as Corporate Affairs Director for the Xcite Energy group, following 17 years’ experience in investment banking and corporate finance, including a close […]

  • 21 March 2012

    Xcite Energy, earler this month, secured all the approvals necessary to drill and produce the wells in Phase 1A of the Bentley field work programme, and began drilling operations this week. The well 9/3b-7 was spudded on the 18 March 2012 using Rowan Norway jack-up drilling rig. Xcite Energy is a 100% owner and operator […]

  • 12 June 2012
    Business & Finance

    Xcite Energy announces that it has amended its agreement with BP Oil International Limited (“BPOI”), a wholly owned subsidiary of BP plc (“BP”), as announced on 28 January 2010, under which BPOI will provide the offtake services to market and sell the Bentley crude oil in return for an incentive-based fee per barrel. Under the […]

  • 24 May 2016

    Xcite Energy, a UK-based oil and gas company, is in talks with creditors to try and renegotiate the terms of its $139.05 million bond ahead of debt maturity on June 30, 2016. The company says its current and forecast cash position is insufficient to repay the bond capital in full by the June 30 deadline, […]

  • 10 January 2017

    Xcite Energy Limited, an oil company under liquidation, is set to leave its shareholders with nothing

  • 4 July 2014
    Business & Finance

    Xcite Energy has entered into a Memorandum of Understanding with Aibel AS, which sets out the principles for executing the Engineering, Procurement and Construction of the Ove Arup & Partners (“Arup”) designed self-installing ACE platform selected for the Bentley field in the UK North Sea. Aibel will work with AMEC, the international engineering and project […]

  • 22 December 2010
    Business & Finance

    Xcite Energy Limited announces that the flow test of the 9/3b-6z horizontal well on the Bentley field has been successfully completed. The flow rates achieved demonstrate both the commerciality of the Bentley field and the reservoir properties to be above the upper end of modelled expectations. Key flow test results were: Total flow test of […]

  • 2 February 2011
    Business & Finance

      Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited (“XER”), has entered into an extension to the binding letter of intent (“LOI”) with British American Offshore Limited(“BAOL”), part of Rowan Companies, Inc. for the N-Class “Rowan Norway” jack-up rig. The LOI has been extended by mutual consent to 11 February 2011 with […]

  • 8 August 2012

    Xcite Energy yesterday closed on the issue of US$10 million of unsecured Loan Notes to a fund managed by West Face Capital Inc. The funds will be used to provide contingency funding during the important Phase 1A work programme on the Bentley field. The Loan Notes have an initial term of 236 days and, subject […]

  • 8 June 2017

    Xcite Energy’s Bentley field in the UK North Sea could have a new owner by the end of June. This is according to FTI Consulting which has been appointed liquidator of the company after Xcite failed to raise funds for debt payment. The company, the operator of the undeveloped Bentley field in the UK North Sea, […]

  • 8 December 2016
    Equipment

    Xcite Energy, a North Sea focused oil company, has been put into liquidation after having been deemed insolvent, as it failed to raise funds for debt payment. The company, working to develop the Bentley field in the UK North Sea, failed to pay $152 million in debt when bonds issued in 2014 matured on Ocober […]

  • 13 March 2012
    Business & Finance

    Ocean Installer, a subsea construction company based in Stavanger, Norway has received a Letter of Intent (LOI) from Xcite Energy Resources Ltd  for the installation of  pipelines from a jack-up rig to a dynamically positioned shuttle tanker at the Bentley field. The potential contract is for the installation of two oil export pipelines of 2.1 […]

  • 8 May 2012
    Business & Finance

    Xcite Energy announces that drilling of the 9/3b-7 well on the Bentley field is progressing satisfactorily, having reached a total depth of 6684ft.  The 17½” section has been drilled, 13⅜”casing set, cemented and pressure tested. The 12¼” hole has been drilled. After the 10¾” x 9⅝” liner has been set, cemented and pressure tested, drilling […]

  • 14 January 2011
    Business & Finance

    Extension of Letter of Intent for “Rowan Norway” N-Class Jack-up Rig Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited (“XER”), has entered into an extension to the binding letter of intent (“LOI”) with British American Offshore Limited (“BAOL”), part of Rowan Companies, Inc. for the N-Class “Rowan Norway” jack-up rig. The LOI […]

  • 15 October 2012

    Xcite Energy has concluded the Phase 1A of the Bentley field development programme in the UK North Sea. The Rowan Norway drilling rig is demobilised and handed back to Rowan Companies Inc. The 9/3b-7 and 7Z wells were successfully suspended for future use as production wells during Phase 1B. The Scott Spirit and shuttle tanker […]

  • 9 May 2012
    Business & Finance

      Xcite Energy announces that drilling of the 9/3b-7 well on the Bentley field is progressing satisfactorily, having reached a total depth of 6684ft.  The 17½” section has been drilled, 13⅜”casing set, cemented and pressure tested. The 12¼” hole has been drilled. After the 10¾” x 9⅝” liner has been set, cemented and pressure tested, […]

  • 29 May 2012

    Xcite Energy has announced that the 9/3b-7 well at its Bentley field, offshore UK, has reached target depth of 9,377 feet (measured depth). A reservoir section in excess of 2,200 feet has been penetrated, with 100% net pay, and sand screens have been run successfully. The remainder of the planned operations, including drilling of the […]

  • 2 March 2012

    Xcite Energy (XER) has announced that the Rowan Norway jack-up drilling rig has left Dundee harbour and is being towed to location to commence Phase 1A of the First Phase Development of the Bentley field. XER are 100% owner and operator of Block 9/3b, licence P.1078, containing the Bentley Field in its entirety. The block, […]

  • 12 June 2013

    Xcite Energy announces that its 100% subsidiary, Xcite Energy Resources Limited (“XER”), has entered into a Memorandum of Understanding (“MOU”) with AMEC Group Limited (“AMEC”) setting out commercial principles for future cooperation to support the development of the Bentley Field.   XER and AMEC will shortly commence a front-end engineering and design (FEED) programme, during which the terms for […]

  • 5 July 2017

    After months of talks with various potential buyers, joint liquidators have sold the assets of Xcite Energy Limited, including the company’s Bentley field, one of the largest undeveloped fields in the UK North Sea for $1 (one dollar). As previously reported, the joint liquidators were appointed in late 2016, after Xcite failed to pay $152 […]

  • 10 September 2014
    Business & Finance, Equipment, Project & Tenders

    Xcite Energy announces that its 100% owned subsidiary, Xcite Energy Resources plc (“XER”), has entered into a Collaboration Agreement with Statoil (U.K.) Ltd. (“Statoil”) and EnQuest Heather Limited (“EnQuest”), in order to share field-specific technical and operational information to evaluate the potential utilisation of common gas import infrastructure between the Kraken, Bentley and Bressay fields. […]

  • 20 October 2014
    Business & Finance, Project & Tenders

    Xcite Energy has entered into a Memorandum of Understanding with Baker Hughes Limited, which sets out the principles for the provision of oil field services for the Bentley field, in the UK North Sea. The services are likely to include the supply of drilling and completion services, well engineering, electronic submersible pumps and reservoir engineering. […]