Deltic rides out the storm
The UKCS explorer’s strong balance sheet allows it to brush off many of the challenges posed by the oil price collapse, but it is still not immune to bearish investor sentiment
It has been a busy 12 months for Deltic Energy, not least with the introduction of a new name for the UK Aim-listed firm formerly known as Cluff Natural Resources. In August last year, it secured approval from the country’s Oil and Gas Authority (OGA) to complete the farm-out of a 50pc stake in its UK continental shelf (UKCS) P2437 licence, containing the Selene prospect, to Shell. This marked the second sale of a stake to the major in less than three months, after it sold 70pc in the Pensacola prospect to Shell at the end of May 2019. But this year’s oil and gas price plunges and Covid-19 pandemic have made life harder—both commercially and operationally—even for a firm at the pre-product
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
