Corallian owns seven UKCS production licences
Corallian seeks bidders
The pre-production North Sea independent has put itself up for sale
UK continental shelf (UKCS) licence holder Corallian Energy has engaged financial adviser Hannam & Partners to conduct a strategic review of its business, which will include approaching third parties potentially interested in making an offer for up to 100pc of its share capital. Privately held Corallian, in which AIM-listed Reabold Resources holds a 49.9pc stake, owns seven UKCS production licences, all but one of which with 100pc stakes. The most significant is P2596, which contains the West of Shetland (WoS) Victory gas discovery. The Victory project is, according to Reabold, “a relatively simple subsea tie-back gas development in 158m water depth, which has been fully appraised and re
Also in this section
16 June 2025
BP and partners have reached a $2.9b FID on a new phase at Shah Deniz, but slow progress on other gas projects is attributed to a lack of European support
13 June 2025
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
13 June 2025
US policies may have lasting effects in sectors such as energy, that rely on predictable rules and long-term planning
13 June 2025
CEO argues the upstream potential remains huge as analysts question future oil production for Canadian province’s offshore industry
