Farm-out chill stymies UKCS optimism
The potential of a play-opening discovery is shackled by lack of investor appetite
Graham Swindells and Stephen Williams, CEO and co-CEO respectively of UK independents Deltic Energy and Reabold Resources, should be happy men. The former has struck material gas at Deltic’s Pensacola prospect, significantly improving confidence across the whole Zechstein Reef play fairway in the Southern North Sea (SNS), while the latter jointly leads a company with substantial exposure to the play both onshore and offshore. Williams can also point to a previously overlooked gas prospect on Reabold’s PEDL183 that new analysis suggests could be both significantly larger than previously thought and more permeable than other rocks in the formation. But Swindells is instead fielding questions f

Also in this section
25 July 2025
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats