Xcite Struggles to Farm Down UK North Sea Bentley Stake

摘要

London-listed Xcite Energy saw its share price slump by over 15% on Thursday as management highlighted the difficulties in farming out a stake in its flagship Bentley heavy oil scheme in the UK North Sea. Xcite announced an uplift in 2P oil reserves at the Bentley field, from 250 million barrels estimated in April 2013 to 257 million bbl of reserves in February 2014, and a new agreement with engineering firm Amec to support the field's development.