Challenger Energy Group Plc (LON:CEG), the Caribbean and Atlantic-margin focused oil and gas company, with oil production, appraisal, development and exploration assets across the region, has announced its Interim Results for the six months period to 30 June 2025.
Challenger Energy delivers strong progress, maintains solid cash position
- Written by: Amilia Stone
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Challenger Energy has completed the first phase of its technical work on AREA OFF-3 in Uruguay, identifying multiple new anomalies with estimated recoverable resources of up to 980 million barrels.
Challenger Energy has published its Interim Results for the six months to 30 June 2025. The period saw progress in Uruguay, with Chevron assuming operatorship of the AREA OFF-1 block and preparations advancing for 3D seismic acquisition, while technical work on AREA OFF-3 was largely completed ahead of a farm-out process.
Challenger Energy Group has finalised the sale of its entire business in Trinidad and Tobago to Steeldrum Ventures Group. The $1.75 million deal, now fully approved by regulators, has been adjusted so all remaining payments will be made in cash. The company said the sale enables it to focus on its core exploration assets in Uruguay.
Challenger Energy has advanced the environmental permitting for its AREA OFF-1 licence in Uruguay, keeping the project on track for 3D seismic acquisition in the fourth quarter of 2025.
Challenger Energy has extended the closing date for its Trinidad divestment to August, as final regulatory approvals near and preparations for operational transfer accelerate.
Challenger Energy Group Plc (LON:CEG) has released its audited annual results for 2024, highlighting strategic advancements and upcoming shareholder events.
