Oil advances with broader market rally

The current Wressle well began formal oil production in July 2022, after extended flow tests. Last week, the company said it had reprocessed and reinterpreted 3D seismic data for the Wressle field. Egdon said this work aimed to

Egdon Resources said that production had exceeded 390,000 barrels of oil from the Wressle joint venture (JV) in North Lincolnshire. PARTNERS The JV with interests in PEDL180 and PEDL182 comprises the Egdon as operator (30%), Union Jack Oil

Egdon Resources has acquired Aberdeen based onshore oil firm Aurora Production. Despite having no assets in Scotland, Aurora is “is a UK petroleum exploration and development company based in Europe’s energy capital Aberdeen,” according to its website. Aurora’s

As COVID-19 restrictions ease, demand for oil is expected to recover by almost 2 million bpd in 2023, with China’s surging oil consumption accounting for half of the growth. While Chinese demand and Russian supply will determine the

Egdon Resources plc has increased its interests in two southern UK onshore oil licences after completing its acquisition of Aurora Production (UK) Ltd. OIL FIELDS Private company Aurora Production, owned by vendor Aurora Petroleum Ltd, had an 18.75% interest in

Oil prices inched up in early Asian trade on Thursday, extending gains from the previous two sessions on signs of a strong economic rebound in China, the world’s top oil importer, which offset worries about a rise in

Oil prices stabilised on Thursday after Brent crude posted its biggest one-day loss for seven weeks in the previous session, with gains on Russian supply curbs capped by an expected rise in U.S. inventories. Brent crude futures rose

Egdon Resources signed an option agreement for the onshore production licence PL081, which includes the Weaverthorpe gas prospect. Under the agreement with York Energy (UK) Holdings Limited, Egdon has six months to elect to farm into the licence. During

Egdon Resources plc has signed an option agreement for onshore production licence PL081 containing the Weaverthorpe gas prospect in North Yorkshire. WEAVERTHORPE The company’s agreed the option with York Energy (UK) Holdings Ltd for six months beginning 3 February

Oil prices rose for a second straight session on Tuesday, driven by optimism about recovering demand in China, and concerns over supply shortages following the shutdown of a major export terminal after an earthquake in Turkey. Brent crude

Oil prices rose on Wednesday as signs of slowing inflation in the United States eased fears that the world’s largest oil user may face a recession because of further interest rate hikes and a weaker dollar supported some

Egdon Resources plc reported a rise in revenue and progress across its UK-based onshore and offshore oil and gas assets in its recent business report for its general meeting. The unaudited revenue for the five months from August

Oil prices rose on Friday on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand. Brent LCOc1 futures for March delivery gained 48 cents, or 0.6%, to $86.64 a barrel by

Oil prices rose on Wednesday, extending the previous session’s gains, driven by optimism that the lifting of China’s strict COVID-19 curbs will lead to a recovery in fuel demand in the world’s top oil importer. Brent crude LCOc1 futures firmed 63 cents,