Deltic Energy plc (DELT.L) has undertaken a scoping study for the Selene gas project in the SNS (Southern North Sea). The study points to a project with attractive economics manifested by a pre-tax NPV10 of US$288m gross and a post-tax NPV10 US$61m net based on Deltic’s 25% working interest. Payback is less than two years. The project has a relatively short lead time to first gas in 2028 and a capital cost of US$310m gross, modest for a significant North Sea development. This reflects the avoid ....
