The Parkmead (GB:PMG) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
The Parkmead Group has been officially granted the P2634 license by the UK’s North Sea Transition Authority, covering three blocks in the Outer Moray Firth. Partnering with Orcadian Energy, Parkmead plans to develop the Fynn Beauly heavy oil field, estimated to hold up to 1.33 billion barrels. The joint venture aims to align the project with the UK’s Net Zero Strategy by studying enhanced oil recovery techniques that could reduce oil viscosity and improve recovery.
For further insights into GB:PMG stock, check out TipRanks’ Stock Analysis page.