Venture Production Company News

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Venture Production Shuffles Board
Venture Production has announced a number of organizational changes which will take effect upon completion of the process of delisting, which is expected to become effective on October 2, 2009.
8:00 PM EST | September 09, 2009
Venture Announces Board Changes
Venture Production plc on Thursday announced changes to the composition of the Board as a result of the successful final cash offer by Centrica Resources (UK) Limited.
8:00 PM EST | August 26, 2009
Venture Advises Shareholders to Accept Centrica's Offer
Venture continues to believe that Centrica's final offer substantially undervalues the company; however, the board recommends that shareholders accept Centrica's offer, as the directors will do in respect of their own beneficial holdings.
8:00 PM EST | August 24, 2009
Venture Announces S. North Sea Farm-in
Venture Production plc, the Aberdeen-based UK independent oil and gas company, on Monday announced a farm-in to exploration acreage in the southern North Sea.
8:00 PM EST | August 23, 2009
UPDATE: Centrica Achieves 58.7% Stake In Venture
Since its announcement Monday morning, Centrica Resources has acquired, subject to settlement, an additional 12,566,274 Shares representing approximately 8.4 percent. of the existing issued share capital of Venture, at 845 pence per Share.
8:00 PM EST | August 23, 2009
Venture Production Taps SRP for First Shrink-Fit Riser Flanges
Subsea Riser Products successfully attached the first flanges to pipe sections that will make up a unique ultra-high-pressure drilling riser for use by Venture Production in the North Sea.
8:00 PM EST | August 19, 2009
Venture Posts Half Year Results, Reviews North Sea Operations
Venture Production has posted its half year results for the six months ended June 30, 2009. Included is a review of Venture's operations in the UK and Dutch sectors of the North Sea.
8:00 PM EST | August 18, 2009
Venture Unveils Whitbeck Gas Discovery in East Irish Sea
Venture has discovered gas on trend with the producing Bains field and 10 kilometers northeast of the Morecambe South production complex in the East Irish Sea.
8:00 PM EST | August 16, 2009
Venture Urges Shareholders to Say Nay to Centrica's Offer
The Board of Venture Production continues to believe that Centrica Resources' opportunistic final offer to acquire Venture substantially undervalues the company.
8:00 PM EST | August 13, 2009
Venture Suspends Andrea Well in 'A' Fields Area of North Sea
Venture Production has announced the result of the Andrea gas exploration well located in block 48/15b in the 'A' Fields area of the southern North Sea.
8:00 PM EST | July 20, 2009
Marram Appraisal Well Proves Gas in East Irish Sea
The Marram appraisal well in the East Irish Sea has proven gas in the eastern part of the field.
8:00 PM EST | July 12, 2009
Venture Confirms Further Gas Potential in 'A' Fields Hub
Located in Venture Production's 'A' Fields production hub, the Andrea well 48/15b-10 has the potential to be Venture's largest discovery to date with pre-drill recoverable resource estimates of between 3 and 44 million barrels of oil equivalent.
8:00 PM EST | July 12, 2009
Venture Production Rejects Centrica's Takeover Offer
Venture Production's Board has unanimously concluded that Centrica's offer is not in the best interests of shareholders and therefore should be rejected.
8:00 PM EST | July 12, 2009
Venture Production Acquires Shares in NOGAT B.V.
Venture Production has agreed to acquire Lundin's entire 1.8% shareholding in NOGAT B.V.
8:00 PM EST | June 22, 2009
Venture Farms-Out UK North Sea Gas Assets to Nuon Energy
Venture has entered into an agreement with Nuon to sell and farm-out a package of minority, non-operated interests in certain of its producing, development and exploration gas assets in the UK southern North Sea.
8:00 PM EST | June 17, 2009
UK Panel Imposes July 13 Deadline for Venture Takeover
Venture welcomes today's announcement by the Takeover Panel Executive that it has imposed a deadline on July 13, 2009, by which Centrica must announce a firm intention to make an offer for Venture.
8:00 PM EST | June 16, 2009
Venture Proves Gas at Kew Appraisal in Greater Markham Area
Venture confirmed the development potential of the Kew discovery in the Greater Markham Area by proving gas with successful appraisal drilling.
8:00 PM EST | May 20, 2009
Cygnus Gas Field Extended through Appraisal Drilling
Venture Production has announced a further successful appraisal well on the Cygnus gas field, operated by GDF Suez.
8:00 PM EST | April 06, 2009
Venture Production Makes Commercial Gas Discovery at Carna
Venture Production has confirmed a commercial gas discovery at the Carna prospect, located in UKCS blocks 43/21b and 43/22c.
8:00 PM EST | March 19, 2009
Venture Upbeat on Chestnut Production, Ties-In Second Successful Well
Venture Production has announced the successful tie-in of a second production well in the Chestnut field.
8:00 PM EST | March 18, 2009
Venture Production in Strong Position for Active Drilling, Devt Program
Venture Production reported that its revenue increased by 38% in 2008, which has positioned the company for the next phase of growth and an active drilling program in 2009.
8:00 PM EST | March 16, 2009
Venture Production Names New COO
While Jon Murphy is stepping down from his position at Venture Production, Jonathan Roger is being promoted to COO of the company.
8:00 PM EST | March 11, 2009
Venture Turns on Taps at South Chestnut Well
Atlantic Petroleum has provided an operations update on the Chestnut Field, located in the UK North Sea, which produced 1.4 million barrels of oil by January 31, 2009.
7:00 PM EST | February 15, 2009
Venture Confirms Cygnus as Major Undeveloped Gas Field in North Sea
With a successful appraisal of the Cygnus gas field confirming 100 Bcf in reserves, field development plans are currently under way with first gas expected in late 2010 or 2011.
7:00 PM EST | February 09, 2009
Venture Production Taps Subsea 7 to Manage Integrity of North Sea Assets
Venture Production awarded Subsea 7 a contract to manage the integrity of its subsea assets in the North Sea.
7:00 PM EST | February 01, 2009
Venture's '08 Exit Production Up 9%, Expects Modest Growth in 2009
In 2008, Venture Production's average net daily production was 45,000 boepd, an increase of 9% over 2007. Additionally, the company completed 13 acquisitions and significant farm-ins.
7:00 PM EST | January 12, 2009
Drilling Commences at UKCS Carna Prospect
Ithaca has commenced the drilling of the 43/21b-A well to explore the Carna prospect in the UKCS Southern Gas Basin.
7:00 PM EST | December 28, 2008
Venture Brings Third Satellite in Greater Kittiwake Area On Stream
Venture has successfully brought the Grouse oil field, developed via a subsea tie-back to the Kittiwake platform, into production.
7:00 PM EST | December 28, 2008
Venture Fires Up Stamford Gas Production in UKCS
Venture has successfully brought the Stamford gas field into production. The Noble Julie Robertson rig will soon spud a new appraisal well which may further extend gas development in the Greater Markham area.
7:00 PM EST | December 07, 2008
Venture, Fairfield Tap Schlumberger & Siem for North Sea Well Services
Venture and Fairfield have each entered into a multiyear contract with Schlumberger for the provision of well fracture and stimulation services from the state of the art dedicated dynamically positioned vessel the Siem Sailor.
7:00 PM EST | December 02, 2008
Venture Resumes Production at Kittiwake Platform
The Kittiwake Platform has returned to full operations following repairs to part of the oil processing system.
7:00 PM EST | November 23, 2008
Venture Production Snaps Up 15 New UK License Interests
Venture Production has been awarded 15 new license interests in the UK 25th Seaward Licensing Round. In each case Venture has been awarded a traditional license and in 12 of these licenses it will be the operator.
7:00 PM EST | November 13, 2008
Low Oil Prices, Credit Woes Could Spell Trouble for UK North Sea
Even though the combination of falling oil prices and the credit crunch spells trouble for oil and gas production in the U.K. North Sea, it is not a "doomsday scenario" for the region, which still offers plenty of investment opportunities.
7:00 PM EST | November 13, 2008
Ithaca Cinches 6 New Licenses Covering 8 Blocks in UK North Sea
Ithaca has been offered a total of six new licenses from the 25th Round of which it will operate three. The licences cover 8 blocks and are spread across Northern, Central and Southern North Sea.
7:00 PM EST | November 13, 2008
Venture Shuts-In Production at Kittiwake Platform
Venture Production has shut-in its operated Kittiwake production facilities to investigate an oil sheen located near the platform.
7:00 PM EST | November 10, 2008
Venture to Tie-In New Chestnut Production Well in Early 2009
Venture Production's Chestnut Field has already produced nearly 500,000 barrels of oil, and the company spudded a second production well on Sept. 7, which has now been successfully drilled, completed and tested.
7:00 PM EST | November 04, 2008
FMC to Supply Venture Production with Subsea Trees, Wellheads
FMC Technologies has received an award from Venture Production for the supply of subsea production systems. The award represents approximately $25 million in revenue to FMC Technologies.
7:00 PM EST | November 04, 2008
Oil & Gas UK's Briefing Spotlights Subsea Technology
At Oil & Gas UK's forthcoming breakfast briefing, a high profile line-up of speakers will explore the significance and growth of the UK subsea sector now and in the future and consider how subsea technology is being used in field development.
8:00 PM EST | October 13, 2008
Sevan Hummingbird to Nest at Chestnut Field for 2 Years
Following completion of the first 100,000 bbls of oil production, Venture Production has informed Sevan that the FPSO Sevan Hummingbird has been formally accepted and is on full rate from September 28th.
8:00 PM EST | October 09, 2008
Venture Production Nabs Interests in 4 UK North Sea Gas Discoveries
Venture Production has agreed to acquire additional interests in the Cygnus, Kepler, Copernicus and Humphrey gas discoveries together with interests in three exploration blocks.
8:00 PM EST | October 09, 2008
EnCore Gets Go-Ahead for Field Development Plan in UKCS
EnCore announced that BERR has approved the Field Development Plan for the Ceres field located on UKCS block 47/9c.
8:00 PM EST | September 24, 2008
Sevan Hummingbird Starts-Up Oil Production at Chestnut
The FPSO Sevan Hummingbird has commenced oil production on Venture's Chestnut field, in the central UK North Sea.
8:00 PM EST | September 21, 2008
Acteon Group Scores North Sea Order for World's First Full-Bore Riser
Claxton Engineering, 2H Offshore and Subsea Riser Products have received an order from Venture Production to provide an ultra-high-pressure riser for use during a high-pressure, high-temperature drilling campaign in the North Sea, slated for Q4 2009.
8:00 PM EST | August 03, 2008
Venture Successfull at Barbossa, Plans to Tie-Back
Venture Production has successfully sidetracked and tested well 47/9c-11x to appraise the Barbarossa gas field. Barbarossa is located in Block 47/9c in the southern North Sea on acreage operated and 90% owned by Venture.
8:00 PM EST | July 14, 2008
Venture Makes Block Listing for 54,500 Ordinary Shares
Venture announced that a block listing application was made for 54,500 ordinary shares of 0.4p each in the Company to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange.
8:00 PM EST | July 13, 2008
Venture Vies for 2 Dutch Offshore Blocks
Venture Production signed an agreement to acquire two further undeveloped discoveries in the Dutch offshore blocks A15a and B17a containing A15-2 and B17-5 (Shallow) gas discoveries.
8:00 PM EST | July 07, 2008
Venture Ramps Up Production, Reports Active Drilling
Venture has reported a strong performance with production close to record levels for a six-month period, with Venture resuming its growth. The Company reported good drilling results and has made solid progress in field development.
8:00 PM EST | June 30, 2008
Sevan Hummingbird Set to Fly in July
Sevan has announced that its expected production statup date for the Sevan Hummingbird is slated for July.
8:00 PM EST | June 26, 2008
Venture Plans to Bring 8 New Projects Onstream in 2008-2009
During 2008 and 2009, Venture anticipates bringing a total of eight new projects on stream. So far this year, the company has already announced 7 new transactions in which it has acquired interests in 10 discovered fields and 4 exploration projects.
8:00 PM EST | May 15, 2008
Venture Production Shows Strong for Q1 2008
During 2008 and 2009, Venture anticipates bringing a total of eight new projects on stream which are expected to boost net production significantly from today's levels.
8:00 PM EST | May 13, 2008