APACHE BERYL I LIMITED

• ◆

  3 officer resignations in last 12 months

  Multiple officers have left the board recently — see the People section for who.

1. APACHE BERYL I LIMITED 2012-01-09 → present
2. MOBIL NORTH SEA LIMITED 2011-09-30 → 2012-01-09
3. MOBIL NORTH SEA LLC 1966-12-12 → 2011-09-30

Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers

Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Abridged

Yes — abridged accounts (limited disclosure)

Audit opinion

Unaudited (audit-exempt)

Going concern

Affirmed

“The financial statements have been prepared under the going concern basis and the directors have reviewed the going concern period to 31 December 2026. The company is able to demonstrate that it is in the position of being able to fund operating costs out of cash flow generated from its operations for a full range of commodity prices. If Apache Beryl I Limited were in a position to require funding, the company may be dependent on the financial support of its parent or other group undertakings. The directors have considered the liquidity and solvency of APA Corporation and based on this assessment they believe the company will be able to continue in operational existence for the foreseeable future given the support provided by their parent holding company, APA Corporation. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.”

Significant events

• “On 26 May 2022, the U.K. Chancellor of the Exchequer announced a new tax (the Energy Profits Levy) on the profits of oil and gas companies operating in the U.K. and the U.K. Continental Shelf, which was enacted on 14 July 2022. Under the new law, an additional levy is assessed at a 25 percent rate and is effective for the period of 26 May 2022, through 31 December 2025. On 17 November 2022, the U.K. Chancellor of the Exchequer announced in the Autumn Statement 2022 further changes to the Energy Profits Levy, increasing the levy assessed from a 25 percent rate to a 35 percent rate, effective for the period of 1 January 2023, through 31 March 2028. This law was substantively enacted on 10 January 2023.”
• “On 30 October 2024, the U.K. Chancellor of the Exchequer announced in the Autumn Budget 2024 changes to the Energy Profits Levy effective from 1 November 2024, including increasing the rate by 3 percent from 35 to 38 percent and removing the investment allowance. The changes to the rate and to the investment allowance were substantively enacted in 2024. The extension of the levy to 31 March 2030 was substantively enacted after 31 December 2024, and will result in a $29 million non-cash deferred tax charge in the year ended 31 December 2025.”
• “On 20 March, 2025, Finance Act 2025 was enacted, receiving Royal Assent, and included amendments to the Energy Profits Levy Act of 2022, increasing the levy from a 35 percent rate to a 38 percent rate, among other changes, effective for the period of 1 November, 2024 through 31 March, 2030.”
• “During 2024, the company recorded $6.3 million (2023: $29.7 million) of impairments in connection with valuations of drilling and operations equipment inventory upon the company's decision to suspend drilling operations.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

3

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.

• Turnover

  -31.5%

  £626,615,271 → £429,270,571

• Cash

  -68.8%

  £254,262 → £79,318

• Net assets

  -1.7%

  £731,571,534 → £718,965,159

• Employees

  —

  Not reported

• Operating profit

  -73.4%

  £257,588,584 → £68,401,038

• Profit before tax

  -70.9%

  £276,030,393 → £80,346,924

Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers