By John Lee. Analysts expect Dublin-based Petroceltic International to incur a write-off of just under €114 million ($125 million; 146 billion Iraqi dinars) as a result of abandoning its operations in Iraqi Kurdistan. According to a report from the Irish Independent, it is also expected to take a cash cost hit of about €6.4 million ($7 […]
Tag Archives | Dinarta
Hess, Petroceltic Abandon Dinarta Licence
By John Lee. Irish-based Petroceltic International has announced that it and its partner Hess will abandon their Dinarta licence in the Kurdistan Region of Iraq. The company told the stock market: "As previously announced on 15 January, drilling operations on the Shireen-1 exploration well in the Dinarta licence (Hess ... (Operator) 64%, Petroceltic 16%, and […]
Petroceltic Switches Focus to Dinarta
By John Lee. In its interim results on Wednesday, Petroceltic gave an update on its operations in Iraqi Kurdistan. The company, along with Hess (as operator) has been active in the Kurdistan Region since 2011 when the Shakrok and Dinarta blocks were awarded with Petroceltic holding a 16% interest in each. Activity for the first […]
Petroceltic Updates Operation, Shares Fall
By John Lee. Petroceltic International has issued an update on its operations including the following statement on its business in the Kurdistan Region of Iraq. The shares closed down 5.6 percent on Friday: The Shakrok-1 well on the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and the Kurdistan Regional Government 20%) reached its total depth […]
Petroceltic Gives Update on Operations
By John Lee. In its Preliminary Results Announcement on Friday, Petroceltic International has issued the following update on its operations in Iraqi Kurdistan: Kurdistan - material prospects in a dynamic region Petroceltic has been active in Kurdistan since 2011 and has worked closely with the operator, Hess, to undertake a comprehensive survey and analysis and […]
Petroceltic Abandons Shakrok-1, Shares Slump
By John Lee. Shares in Irish independent oil and gas exploration company Petroceltic International closed down 9.6 percent on Monday, following the company's update on its operations in the Kurdistan Region of Iraq. On the Shakrok licence (Petroceltic 16%, Hess (Operator) 64% and Kurdistan Regional Government 20%), the Shakrok-1 well reached its total depth of […]
Petroceltic Update and Guidance
By John Lee. Petroceltic International has provided an operational update today together with guidance for its 2014 production outlook and exploration and development work programmes. Highlights 2013 production in-line with guidance at 25.2 Mboepd; 2014 forecast production range of 20.0 to 22.0 Mboepd Shakrok well in Kurdistan Region of Iraq drilling ahead at 1818 m […]
Petroceltic Results and Operational Update
Petroceltic International, the independent oil and gas exploration development and production company focused on the Middle East North Africa, the Mediterranean and the Black Sea regions, today announces its results for the six month period ended 30 June 2013. Highlights: High impact drilling campaigns in Kurdistan and Romania recently commenced $500 million debt refinancing Agreement […]
Petroceltic Spuds Shakrok-1
By John Lee. Petroceltic International has announced that it has spudded two wells: Shakrok-1, the first well in its drilling campaign in the Kurdistan Region of Iraq and Cobalcescu South, part of its planned multi-well drilling campaign, offshore Romania. Kurdistan Region of Iraq In July 2011 Petroceltic announced that Petroceltic Kurdistan Limited ("Petroceltic Kurdistan") had […]
Petroceltic Rises on Preliminary Results
By John Lee. Shares in Irish-based exploration group Petroceltic International (PCI) were up 3 percent in early trading on Monday, following the release of its preliminary results. The results included the following statement on its operations in Iraqi Kurdistan: "Since 2005, the Kurdistan Region of Iraq has become one of the most active exploration locations […]
Petroceltic Updates on Iraqi Operations
By John Lee. As part of its operational update yesterday, Petroceltic gave an update on its operations in Iraqi Kurdistan: An active exploration and development programme is scheduled for 2013 with a capital expenditure budget of US$150 million. Exploration drilling and seismic acquisition accounts for approximately 43 percent of the budget with the balance committed […]
Petroceltic Operations Update
By John Lee. In its operations update this morning, Petroceltic International issued the follow statement on its operation in Iraqi Kurdistan: Geophysical surveying operations at the Shakrok block (Petroceltic 16% working interest) were completed on 21 September 2012, with 276 kilometres of 2D seismic lines acquired. Drilling remains scheduled to commence on Shakrok in Q3 […]