Recent research from Morgan Stanley suggested an all-time low for exploration-related M&A activity in the first quarter of 2015. 

US explorer Kosmos Energy is set to attract fresh investment to its two Irish-based licences, via a farm-out process, later this year. 

UK exploration firm, Europa Oil and Gas has confirmed it will seek to increase its Irish acreage by bidding for more prospects in this year’s Atlantic Margin licensing round.

A decision is due before the end of June on whether highly anticipated drilling activity on Irish exploration assets jointly held by US company Kosmos Energy and UK player Europa Oil and Gas will begin in the next year.

Antrim Energy — the Canadian exploration firm, with sizeable interests off the Irish coast— has turned down a takeover approach from UK company, Sound Oil.

British exploration firm, Europa Oil and Gas has said it definitely intends to participate in the Government’s 2015 Atlantic Margin licensing round and hopes to begin drilling at its existing assets, off the west coast, during 2016.

Providence Resources is understood to have reached the stage where it is finalising commercial terms with potential development partners for its highly-anticipated Barryroe oil field off the Cork coast.

British-based exploration firm Europa Oil and Gas — which has interests off the west coast of Ireland — expects to meet annual production targets this year, despite suffering a 4.5% year-on-year drop in first-half revenues and a near 4% decline in production.

Tullow Oil is to issue a further $500m (€362m) worth of senior debt, with a six-year maturity life, with interest payable on a biannual basis.

British exploration firm, Europa Oil & Gas, which has two potentially huge prospects in Irish waters, has reported a pre-tax profit of £407,000 (€480,000) for the 12 months to the end of July.

The first well to be drilled at the highly anticipated Dunquin oil and gas prospect off the Kerry coast has been abandoned, sending shares in the field’s Irish stakeholder — Providence Resources — plummeting by nearly 10%.

Texan exploration company Kosmos Energy has commenced 3D seismic surveys on the two prospects off the Co Kerry coast in which it bought controlling stakes earlier this year.

Irish onshore and offshore oil and gas reserves could be worth more than €2tn, writes John Hearne

Two companies have identified oil targets off the west coast, with the combined potential to produce nearly two billion barrels of oil.

London-based exploration company Europa Oil & Gas has said that it has identified two large, previously unknown, prospects off the west coast of Ireland.

OIL and gas exploration company Providence Resources has formally committed to drilling next year at its high-profile Spanish Point/Main Porcupine Basin assets off the west coast of Ireland.

TWO new licences were granted yesterday for exploration in major gas fields around 100km off the west coast.