Orcadian Energy Expects to Boost North Sea License Interest to 100%

03:28 AM EST, 11/11/2026 (MT Newswires) -- Orcadian Energy (ORCA.L) expects to raise its interest in the P2650 license in the UK North Sea to 100% from 50% when Triangle Energy withdraws from the license. The low-emissions oil and gas exploration and development company said Wednesday it declared Triangle UK in default in September after it failed to pay a cash call and notified the company on Monday that the remedy period had expired. Triangle Energy has not yet withdrawn from the license, and the completion is subject to the North Sea Transition Authority's approval. The license covers the Glenlough and Breckagh shallow gas prospects.