Providence Resources PLC (LON:PVR) started the week with a US$3mln fund raising and also inked a preliminary agreement for a new farm-out for its flagship Barryroe oil field project.

Norwegian firm SpotOn Energy signed a term-sheet giving it exclusivity until the end of October to put together new appraisal plans for Barryroe, and agree binding commercial terms for the envisaged farm-out deal.

On Tuesday, Providence confirmed completion of the bookbuild for the £2.7mln share placing, whilst a separate share subscription saw SpotOn invest an initial £300,000.

The hope among Providence investors is that this will be a farm-deal that sticks after prior deals, including the most recent China-funded scheme did not.

As highlighted in Monday’s statement, the proposed new Barryroe partner works with a consortium of “world-leading services providers” to deliver offshore projects.

Specifically, SpotOn is said to have extensive experience designing and constructing semi-submersible drilling rigs for the North Sea, along with the design, development and management of offshore facilities.

Meanwhile, Diversified Gas & Oil PLC (LON:DGOC) unveiled a new US$110mln acquisition of upstream and midstream assets in the Appalachia region of the United States.

The deal, with Carbon Energy Corporation and its affiliates, sees DGOC pick up some 9,900 barrels oil equivalent production in 6,500 “mature, low decline conventional” wells. It noted that 97% of the production is gas.

“This proposed complementary acquisition, if completed, remains consistent with our commitment to pursue prudent growth that enhances our dividend per share to shareholders,” Rusty Hutson, DGOC chief executive said in a statement.

Earlier in the week, DGOC had told investors that it can retain its dividend. The North America-based firm updated investors on its operations in light of the coronavirus (COVID-19) pandemic.

Designated as a provider of “essential services” in each US state that in which it operates, the group said its oil and gas fields continue to produce with little-to-no impact from COVID-19. The company emphasised that it has stable production, low operating costs and robust hedging strategy.

Falcon Oil & Gas Ltd (LON:FOG, CVE:FO) agreed a further farm-out of its stake in the Beetaloo shale project, in Australia, to partner Origin Energy. The company is transferring a 7.5% participating interest in the project in return for A$150mln of additional cost cover by its larger partner.

Previously, Origin was committed to spend up to A$65.3mln gross in Stage 2 of the joint venture, and up to A$48mln in Stage 3 – now, the aggregate gross cost cap rises to A$263.8mln – spending above that will be borne proportionally by the partners.

Falcon retains a 22.5% interest in the Beetaloo project following the latest farm-out, with Origin owning the other 77.5%.

In a statement, Falcon chief executive Philip O’Quigley noted that the deal shows Origin remains committed to the project.

SDX Energy PLC (LON:SDX) announced a new discovery at the South Disouq project in Egypt, with the SD-12X (Sobhi) well encountering 108 feet of net high-quality gas-bearing sands.

“This is an excellent result for SDX and fully justifies our confidence to drill this well on a sole risk basis,” Mark Reid, SDX chief executive said in a statement.

Reid added: “South Disouq represents our flagship asset and in the current economic climate this fixed price, low-cost gas development is highly-cash generative for the group.

On Tuesday, SDX told investors that its operations in Egypt presently remain unaffected by the coronavirus (COVID-19), and it expects its Moroccan business will be resilient amidst containment restrictions.

Chariot Oil & Gas Limited (LON:CHAR) told investors it recognised that market conditions may expose value-accretive growth assets, that are a strategic fit, and it will remain open to such opportunities.

The explorer, in a statement, meanwhile highlighted its focus on the Anchois gas development in Morocco – whilst maintaining capital discipline. It noted that it had US$9.6mln of cash at the end of 2019, had no work commitments on any of its licences, plus it is debt free.

To conserve cash Chariot’s directors have agreed to a 50% of remuneration as shares. Additionally, some staff will be released, others will move to consulting arrangements and other costs cutting measures will be sought.

Chariot expects it will be able to cut annual running costs to US$2.5mln, from US$4.5mln.

Columbus Energy Resources PLC (LON:CERP) announced a further interim extension to the Goudron incremental production service contract (IPSC) with Heritage Petroleum, moving the deadline out to June 30, 2020.

The prior deadline was April 3, and, now the companies have more time to finalise agreements for a longer-term extension.

Jersey Oil and Gas PLC (LON:JOG) hired project delivery specialist Dr Chris Haynes as an advisor to the board, as it seeks to advance the Greater Buchan Area (GBA) hub oilfield development project in the North Sea.

Haynes has 39 years’ experience in the industry, much of which was gained at Royal Dutch Shell PLC (LON:RDSA), where he was responsible for the delivery of Shell’s major upstream projects worldwide.

“We are very pleased to welcome Chris to the company as a board adviser,” said Andrew Benitz, Jersey chief executive in a statement.

88 Energy Ltd (LON:88E) (ASX:88E) proved movable hydrocarbons in the Charlie-1 well, with sampling confirming a large condensate discovery in the Torok formation.

In a statement, however, Dave Wall, the explorer’s chief executive, described it as “a mixed result”.

The main Charlie target could not be tested because the formation was found to be “poorly developed” and was therefore not sampled. Oil shows previously noted in Charlie are now deemed to be ‘residual’, the company said.

Joint venture partner Premier Oil PLC (LON:PMO) immediately decided to withdraw from the project as the drill results did not meet their expectations.

By Thursday, 88 Energy updated the market again confirming that it does not expect to incur any costs from the drilling of the Charlie-1 well (thanks to the prior Premier Oil farm-out deal).

In a quarterly activities update, 88 Energy also said it would launch a new partnership programme for the Charlie asset.

88 Energy, which until recently had been focused on the HRZ shale, noted that it would now also analyse these horizons in the Charlie well data.

It also noted that talks are continuing over its separate Yukon leases, located nearby, which host the Cascade prospect (estimated at around 89mln barrels).