Jersey Oil and Gas (JOG)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

165.50p
   
  • Change Today:
      16.00p
  • 52 Week High: 332.00
  • 52 Week Low: 149.20
  • Currency: UK Pounds
  • Shares Issued: 32.67m
  • Volume: 283,125
  • Market Cap: £54.06m
  • RiskGrade: 453

Jersey Oil planning to electrify Greater Buchan development

By Josh White

Date: Wednesday 02 Jun 2021

LONDON (ShareCast) - (Sharecast News) - UK North Sea-focussed upstream oil and gas company Jersey Oil & Gas updated the market on operations at its Greater Buchan Area (GBA) development project on Wednesday, reporting that subsurface evaluations and an independent peer review of subsurface and facilities concept select scopes had been completed.
The AIM-traded firm said a concept select report had been issued to the UK Oil and Gas Authority (OGA), outlining that the preferred GBA development concept was a fully-electrified 'net-zero' solution.

That was estimated to emit carbon at a rate of less than one kilogram of carbon dioxide per barrel of oil equivalent produced, which Jersey said was "significantly below" the North Sea average of about 22 kilograms per barrel produced.

A 'supply chain action plan' had also been issued to the OGA, with an evaluation of export pipeline options underway.

In line with its strategy to electrify the GBA development, applications for a UK electricity grid connection had been submitted, and a pipeline and subsea electricity cable survey contract awarded.

In addition to being economically attractive to electrify the planned Buchan platform, Jersey said the installation of a subsea electricity cable had the potential to facilitate the electrification of other nearby platforms, with collaboration efforts said to be ongoing.

Front-end engineering and design tendering was ongoing, and an application had also been made to the OGA to be appointed as Offshore Safety Directive installation operator.

A farmout process was also underway, with "broad interest and participation" reported from multiple parties.

"The submission of the concept select report to the OGA represents a significant milestone for Jersey Oil & Gas in our journey to deliver maximum value from the Greater Buchan Area," said chief executive officer Andrew Benitz.

"Our chosen development concept ensures that, through electrification, the GBA Development could produce less than one kilogram of carbon dioxide per barrel produced; fully aligned with the UK's 'net-zero' targets.

"The submission of the CSR ahead of schedule is testament to the growing project team's continued hard work."

At 1017 BST, shares in Jersey Oil & Gas were up 2.01% at 152p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

JOG Market Data

Currency UK Pounds
Share Price 165.50p
Change Today 16.00p
% Change 10.70 %
52 Week High 332.00
52 Week Low 149.20
Volume 283,125
Shares Issued 32.67m
Market Cap £54.06m
RiskGrade 453

JOG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
4.64% below the market average4.64% below the market average4.64% below the market average4.64% below the market average4.64% below the market average
47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average47.37% below the sector average
Price Trend
47.31% below the market average47.31% below the market average47.31% below the market average47.31% below the market average47.31% below the market average
12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average12.2% below the sector average
Income Not Available
Growth Not Available

JOG Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
12:55 500 @ 164.00p
12:42 1,500 @ 164.13p
12:34 2,500 @ 164.50p
12:25 1,000 @ 167.00p
11:38 2,000 @ 165.00p

JOG Key Personnel

CEO Jason Andrew Benitz
CFO Graham Forbes

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