Providence Resources PLC Company News

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Providence Expects to Drill Druid Prospect in Summer 2017
Thursday, September 15, 2016Providence Resources plc expects the Druid prospect, located in FEL 2/14 in the southern Porcupine Basin offshore Ireland, to be drilled in summer 2017.

Newgrange Prospect Could Hold 13.6 Tcf of Gas
Tuesday, July 12, 2016Providence Resources plc reveals that the Newgrange prospect, located in the Goban Spur Basin, could hold un-risked prospective resources of 13.6 trillion cubic feet of gas.

Providence Offered LO 16/27 Offshore Ireland
Thursday, June 23, 2016Providence Resources plc is offered Licensing Option 16/27 in the Porcupine Basin, offshore Ireland, as part of the second phase of the Atlantic Margin Licensing Round.

Ireland Awards 14 New Licensing Options
Friday, June 03, 2016Ireland's department of natural resources announces the offer of 14 new licensing options in the Irish offshore following the conclusion of the 2015 Atlantic Margin Licensing Round.

Providence Resources: Druid, Drombeg Prospects Could Hold 5B Barrels of Oil
Friday, April 22, 2016Providence Resources confirms that the Druid and Drombeg prospects in the southern porcupine basin could hold total cumulative in-place un-risked prospective resources of 5 billion barrels of oil.

Providence Resources in Talks with Creditor after $7M Judgement
Wednesday, April 13, 2016Irish oil explorer Providence Resources is in talks with its main creditor to ensure it has sufficient resources to fulfil a court order to pay $7 million to drilling provider Transocean.

Providence Resources Commences Farm-Out Process at Druid/Drombeg
Friday, March 11, 2016Providence Resources issues a call for oil and gas companies to farm-in to its Druid/Drombeg prospects, located on the South Porcupine basin offshore Ireland.

Providence: Celtic Sea Farm-out Discussions Continue
Thursday, February 18, 2016Providence Resources continues to look at farm-out options and marginal development solutions for its Celtic Sea assets.

Large Cretaceous Structure Confirmed Offshore Ireland
Friday, January 29, 2016Capricorn Ireland confirmed the presence of a large-base Cretaceous structural closure off the west coast of Ireland.

Providence Agrees Terms with Searcher for New Survey Offshore Ireland
Friday, January 22, 2016Providence Resources plc agrees terms with Searcher Seismic Pty Ltd for a new 3D seismic program in the southern Porcupine and Goban Spur basins, offshore south-western Ireland.

Providence Expects Further CAPEX Cuts in 2016
Thursday, December 17, 2015The board of Providence Resources plc is anticipating further capital expenditure savings next year, following a cost reduction program in 2015 that has seen the company's CAPEX almost halve.

Providence Agrees to Increase SEL 2/11 Stake to 100%
Friday, December 04, 2015Providence Resources agrees to increase its equity stake in Standard Exploration Licence (SEL) 2/11, offshore Ireland, to 100%.

Providence: SEL 1/11 License Extended
Tuesday, November 03, 2015Providence Resources plc and Lansdowne Oil & Gas plc receive an extension for Standard Exploration Licence 1/11 located in the North Celtic Sea Basin, off the south coast of Ireland.

Providence Resources Remains Optimistic about Irish Oil and Gas
Tuesday, September 29, 2015Providence Resources says it remains well placed to deliver its plans and that it continues to be optimistic about the Irish oil and gas sector.

Providence Signs Exploration Collaboration Agreement with Schlumberger
Monday, September 21, 2015Providence Resources signs a collaboration agreement with Schlumberger for the exploration of the southern Porcupine and Goban Spur basins, which are located offshore Ireland.

Providence Resources Receives 18-Month Extension for Licensing Option 13/04
Tuesday, July 14, 2015Providence Resources receives 18-month extension for Licensing Option 13/04 by the Irish Minister of State at the Department of Communications, Energy and Natural Resources, until November 30th, 2016.

Providence Increases Stake in Dunquin South Prospect
Monday, July 06, 2015Independent explorer Providence Resources agrees to buy Atlantic Petroleum's four-percent stake in Frontier Exploration Licence 3/04, which lies in the Porcupine Basin offshore west Ireland.

New Data Shows Large Paleocene System Offshore Ireland
Monday, June 15, 2015New seismic data indicates the presence of a significant Paleocene deepwater channelized system in the northern Porcupine Basin, offshore western Ireland, Providence Resources reports.

New Paleocene Deepwater Fan Prospect Identified Offshore Ireland
Wednesday, June 10, 2015Providence Resources reports the presence of a new, large Paleocene, deepwater fan prospect on the FEL 2/4 licenses offshore southwest Ireland.

Providence Resources Reports $12 Million Loss in 2014
Wednesday, May 27, 2015Providence Resources reports a loss of $12.4 million dollars in its preliminary results for the year ended December 31, 2014.

Providence Obtains Evidence of Hydrocarbons Near Polaris Prospect
Thursday, May 14, 2015Providence Resources obtains evidence of oil seeps some two miles from its Polaris prospect offshore Ireland.

Spanish Point Appraisal Well Deferred
Tuesday, March 10, 2015Cairn Energy reveals in its results statement for 2014 that an exploration/appraisal well planned near the Spanish Point discovery offshore Ireland will be deferred.

Drombeg Prospect Suggests Large Deep-water Fan System
Tuesday, March 03, 2015Providence Resources says an initial evaluation of seismic data acquired over its Drombeg prospect offshore Ireland reveals morphologies that are consistent with a large deep-water fan system.

Judge Favors Providence in Transocean Dispute
Monday, December 22, 2014Ireland's Providence Resources wins a case related to costs made against it by drilling firm Transocean.

Faroe Wins Irish Licensing Options
Monday, October 06, 2014Faroe Petroleum wins three licensing options from the Irish government covering a shallow water area off the southern coast of Ireland in the Celtic Sea.

Providence Confirms Start of Newgrange Seismic Survey
Monday, August 18, 2014Providence Resources says its seismic survey of the Newgrange area, offshore southwest Ireland, has begun.

3D Seismic Survey Begins at Spanish Point South
Thursday, August 14, 2014Providence Resources announces the start of 3D seismic survey operations at Spanish Point South, offshore Ireland.

Seismic Program About to Start Offshore SW Ireland
Thursday, August 07, 2014Providence Resources announces seismic survey off the southwest coast of Ireland.

Cairn Postpones Spanish Point Drill Due to Rig Delays
Wednesday, July 09, 2014Cairn Energy postpones the drilling of the Spanish Point appraisal well, offshore Ireland, due to rig refurbishment delays.

Seismic Survey over Ireland's Drombeg Prospect Begins
Monday, June 30, 2014Providence Resources reports the start of a 3D seismic survey over its Drombeg oil prospect, offshore southwest Ireland.

Providence Offered Upgrade to its Newgrange Licensing Option
Thursday, April 17, 2014Providence Resources is offered the opportunity to convert its Newgrange licensing option, offshore Ireland, into a Frontier Exploration Licence.

Campaigners Highlight 'Shortcomings' of Irish Oil, Gas Tax Regime
Friday, March 07, 2014As Ireland's energy minister appoints Wood Mackenzie to advise on the country's tax regime for oil and gas, campaign group Own Our Oil calls for an overhaul of how the industry is taxed and regulated.

Barryroe License Area Extended
Tuesday, February 18, 2014Providence Resources says the license area in which its 1.1-billion barrel Barryroe discovery is situated has been extended to the south and southeast.

Providence Starts Planning Seismic Survey over Drombeg
Monday, January 20, 2014Providence Resources begins planning a 3D seismic survey over its Drombeg prospect offshore Ireland.

Providence Offered Celtic Sea Licensing Option
Thursday, December 05, 2013Providence Resources is offered a new licensing option in the South Celtic Sea Basin, offshore Ireland.

ABT to Use Production Buoy System Offshore Ireland
Wednesday, November 13, 2013ABT Oil & Gas farms into two currently non-commercial oil fields offshore Ireland in a deal that will see the deployment of its production buoy system.

Dunquin Reservoir Found To Be Water Bearing
Monday, July 22, 2013Providence Resources reports that the Dunquin North well off the southwest coast of Ireland has encountered a water-bearing reservoir.

Cairn Gets Approval for Spanish Point Farm-In
Tuesday, July 09, 2013Cairn Energy says the Irish government has given the go-ahead for the firm to farm into two licenses off the west coast of Ireland.

Oil and Gas: What's In It For The Irish?
Monday, June 24, 2013As voices emerge in Ireland critical of "overly generous" terms for oil and gas operators, Rigzone asks Provident Resources CEO Tony O'Reilly what the sector is doing for the Irish.

Cairn Strikes Spanish Point Farm-In Deal
Tuesday, May 07, 2013Cairn takes 38-percent stake, and assumes operatorship of, Spanish Point, offshore Ireland.

Fastnet Awarded New Irish Licensing Option
Friday, May 03, 2013Junior explorer Fastnet Oil & Gas reports that it has been awarded the East Mizzen Licensing Option over several blocks in the North Celtic Sea Basin.

Exxon Spuds Dunquin Well Offshore Ireland
Tuesday, April 23, 2013Providence Resources reports that Exxon has spud the Dunquin well off the west coast of Ireland.

Providence: 311M Barrels of Recoverable Oil at Barryroe
Friday, April 05, 2013Providence Resources says there are 311 million barrels of oil and 207 billion cubic feet of gas that can be recovered from its Barryroe discovery offshore Ireland.

Providence Completes Sale of UK Onshore Assets
Friday, March 01, 2013Providence Resources completes $66 million sale of UK onshore assets to IGas Energy.

Fastnet Secures Deep Kinsale Farm-In Option
Thursday, February 21, 2013Fasnet Oil & Gas secures an option to farm into up to 60 percent of the Deep Kinsale prospect, offshore Ireland in the Celtic Sea.

Survey Confirms Significant Oil Potential off Northern Ireland
Thursday, January 24, 2013Providence Resources reports that an airborne survey commissioned by the firm confirms significant oil potential in the Rathlin Basin, offshore Northern Ireland.

Fastnet, Adriatic Take Celtic Sea License
Wednesday, November 14, 2012Ireland awards Licensing Option 12/5, which covers part of the Celtic Sea, to Adriatic Oil which in turn farms out to Fastnet Oil and Gas.

Providence Says Drombeg Could Contain 870M Barrels
Monday, November 12, 2012Providence says seismic inversion program suggests 872 million barrels of oil on a P50 basis.

Providence: Barryroe Has 'Significant Productive Potential'
Wednesday, October 10, 2012Providence Resources says it is modeling a recovery factor of 31% for the development planning of its Barryroe oil discovery.

Providence Set to Move Ahead with Dalkey Island Drilling
Thursday, October 04, 2012Providence Resources receives licenses that enable it to go ahead with drilling of Dalkey Island prospect, offshore Dublin in the Irish Sea.