Providence rises on delivery of rig
Oil and gas exploration and production company Providence Resources has taken delivery of the GSF Arctic III semi-submersible drilling rig for the upcoming appraisal drilling programme at Barryroe, off the coast of Ireland.
Oil and gas exploration and production company Providence Resources has taken delivery of the GSF Arctic III semi-submersible drilling rig for the upcoming appraisal drilling programme at Barryroe, off the coast of Ireland.
The rig is currently being mobilised to Irish waters from the North Sea, and drilling is expected to commence within the next 2 weeks.
Providence holds a 50% interest in the Barryroe licence which it operates on behalf of its partners San Leon Energy and Lansdowne Oil & Gas, which have a 30% and 20% stake, respectively.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The share price rose 6.46% to 193.5p by 13:18.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran