Orcadian Energy Plc
LLSE:ORCA15.50
GBX
-0.25
(-1.59%)
Orcadian Energy Plc
LSE:ORCA
(London Stock Exchange)
Recent
price
15.50
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ratio
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div
yld
- -
ROIC.AI
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- Business
- Orcadian Energy Plc (AIM: ORCA) is a United Kingdom-based oil and gas exploration and development company focused on viscous and heavy oil development opportunities in the Central North Sea using low-emissions polymer injection techniques to maximise recovery and minimise carbon dioxide emissions through renewable power integration. Founded in 2014 and headquartered in London, the company holds interests in several UK Continental Shelf licences including an 18.75% carried stake in P2244 containing the Pilot heavy oil field with 79 million barrels of proven plus probable reserves, 100% of P2482 with the Elke and Narwhal discoveries offering 53 million barrels of 2C contingent resources, a 50% interest in P2634 encompassing the Fynn heavy oil discovery, and P2680 with the Earlham low-carbon gas discovery, shallow gas prospects, the Orwell redevelopment project, and the Clover gas prospect; it pursues polymer flood enhanced recovery on well-appraised fields via FPSO with produced water reinjection and wellhead platforms drilled from jack-up rigs in shallow 80-90 metre waters. Recent developments include the March 2024 farm-out of an 81.25% interest in the Pilot licence to Ping Petroleum UK Plc with Orcadian carried to first oil production, the completion of the acquisition of HALO Offshore UK Ltd in late 2024 followed by the sale of a 50% stake to The Independent Power Corporation Plc in early 2025 to pursue gas production acquisitions, an agreement to sell a 50% interest in a P2680 sub-area containing Earlham to The Marine Low Carbon Power Company Ltd with costs carried to production, the formalisation of three new licences from the 33rd Seaward Licensing Round including partnerships with Parkmead Group and Triangle Energy, and a secured £1.15 million two-year loan from an industry partner to support operations.