The Parkmead Group plc

Equities

PMG

GB00BGCYZL73

Oil & Gas Exploration and Production

Market Closed - London S.E. Other stock markets 11:35:20 2024-04-26 am EDT			5-day change	1st Jan Change
15.75 ^GBX	0.00%		+3.28%	-18.18%

Mar. 28	EARNINGS AND TRADING: Arbuthnot ups payout as profit more than doubles	AN
Mar. 28	Earnings Flash (PMG.L) PARKMEAD GROUP (THE) Posts Fiscal H1 Revenue GBP3.4M	MT

Parkmead shares fall as gives up on North Sea project

June 19, 2023 at 09:26 am EDT

Parkmead Group PLC on Monday - Netherlands and UK-focused gas explorer - Says the UK North Sea upstream industry is facing unprecedented challenges, stating it is no longer "practical" to move forward with Perth development. Adds its primary focus is on building its gas and renewable energy focused portfolio as a result. Says it remains in a "very healthy" cash position from producing Dutch gas fields and UK wind turbines, but notes a non-cash one-off impairment of approximately GBP33 million relating to the Perth oil development. Looking ahead, says it is well-placed in regard to potential acquisitions.

Current stock price: 15.77 pence, down 15% on Monday

12-month change: down 67%

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Stocks mentioned in the article

Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
BRENT CRUDE OIL SPOT	88.07 USD	+0.10%	+1.75%	-
WTI	83.53 USD	0.00%	+1.68%	-
THE PARKMEAD GROUP PLC	15.75 GBX	0.00%	+3.28%	21.44M

Latest news about The Parkmead Group plc

EARNINGS AND TRADING: Arbuthnot ups payout as profit more than doubles	Mar. 28	AN
Earnings Flash (PMG.L) PARKMEAD GROUP (THE) Posts Fiscal H1 Revenue GBP3.4M	Mar. 28	MT
Earnings Flash (PMG.L) PARKMEAD GROUP (THE) Posts Fiscal H1 EPS GBX0.62	Mar. 28	MT
The Parkmead Group Seeks Acquisitions	Mar. 28	CI
The Parkmead Group plc Reports Earnings Results for the Half Year Ended December 31, 2023	Mar. 28	CI
Parkmead Group Provisionally Awarded Three UK Offshore Blocks	Feb. 05	MT
Parkmead awarded three offshore oil blocks in UK North Sea	Feb. 05	AN
The Parkmead Group plc Announces Provisional Award of Three Significant New UK Offshore Blocks	Feb. 05	CI
Parkmead Group Reports Exceeding P50 Gas Reserves at LDS-01 Well in Netherlands	Feb. 02	MT
Parkmead surges on highest LDS-01 output since April 2020	Feb. 02	AN
Orcadian Energy shares rise as NSTA offers new licences	Feb. 01	AN
Orcadian Energy Expects Two Central North Sea License Awards	Feb. 01	MT
Stocks shrug off downbeat UK retail sales	Nov. 17	AN
Parkmead shares surge on promising outlook despite swing to loss	Nov. 17	AN
AIM WINNERS & LOSERS: Parkmead revenue up; Jersey O&G buys vessel	Nov. 17	AN
The Parkmead Group plc Reports Earnings Results for the Full Year Ended June 30, 2023	Nov. 17	CI
Parkmead sees revenue increase but predicts write-downs	Nov. 03	AN
The Parkmead Group plc Provides Revenue Guidance for the Year Ended 30 June 2023	Nov. 03	CI
Parkmead Group Shares Fall Amid Decision to Shelve Oil Development Plan in Perth, Scotland	23-06-19	MT
Parkmead shares fall as gives up on North Sea project	23-06-19	AN
The Parkmead Group plc Announces Executive Changes	23-06-15	CI
The Parkmead Group plc Announces Management Changes	23-06-15	CI
Castings beats market view; Zoo Digital buys in Japan	23-04-28	AN
Parkmead hails asset efficiency as gas production starts at LDS-01	23-04-06	AN
Parkmead Starts Producing Gas from New Dutch Discovery	23-04-06	MT

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Company Profile

The Parkmead Group plc is an independent energy company focused on the United Kingdom and Netherlands. The Company produces natural gas from a portfolio of four fields across the Netherlands and holds additional oil and gas interests across the United Kingdom and Dutch sectors. The Company operates the Greater Perth Area (GPA) oil hub project in the United Kingdom Moray Firth. In addition, the Company has stakes in a number of oil and gas developments in the Netherlands. It holds a 7.5% to 15% working interest in four producing onshore gas fields in the Netherlands: Geesbrug, Brakel, Grolloo and Diever West. It has interests in approximately 21 exploration and production blocks in the United Kingdom and Netherlands, ranging from exploration on the UKCS to near-term exploration onshore Netherlands. Its renewable energy assets include Kempstone Hill and Pitreadie. It owns and operates the Kempstone Hill wind energy company, producing electricity direct to the United Kingdom grid.

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Oil & Gas Exploration and Production

Calendar

2024-11-21 - Q4 2024 Earnings Release (Projected)

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