UK: Egdon Resources announces update on Resolution 3D survey
06 Jan 2021
3D seismic survey over the
Resolution gas discovery in offshore licences P1929 and P2304.
Shell, the operator of offshore licences P1929 and P2304, has advised Egdon that the marine 3D seismic survey, planned over the
Resolution and Endeavour gas discoveries is now anticipated to be acquired in
February 2022 rather than Q1 2021. This follows the results of a revised environmental impact assessment and extensive stakeholder engagement in respect of the planned survey. This work concluded that the commercial impact on local fishing businesses, along with potential impacts on marine mammalian movements, breeding season for sea birds and tourism, meant that the optimum time window to successfully acquire seismic data in 2021 was during February, not March/April as originally anticipated.
McDermott International announced that on Dec. 31, 2020, it secured $560 million in new capital. As announced on Nov. 18, 2020, the new capital was provided through a series of transactions which was secured through commitments from certain existing lenders and shareholders.
UK: Egdon Resources announces preliminary results for the year ended 31 July 2020
06 Jan 2021
AIM-listed
Egdon Resources, a UK-based exploration and production company primarily focused on the hydrocarbon-producing basins of onshore UK, has announced its preliminary results for the year ended 31 July 2020.
Operational and Corporate Highlights
Production during the year was 145 boepd (2019: 182 boepd) ahead of guidance of 130-140 boepd
Planning permission was granted for the Wressle development on appeal on 17 January 2020 following a public inquiry in November 2019. Full costs were awarded against North Lincolnshire Council and have since been received. Field development operations are progressing well and first oil is targeted during January 2021, which will add 150 bopd to Egdon’s production
Siemens Gamesa has signed its first wind power project in Ethiopia with state-owned electricity company Ethiopian Electric Power (EEP), strengthening its leadership in Africa as the country begins to expand its green energy capacity to meet ambitious renewable targets.
UK: SSE agrees sale of gas exploration and production assets
04 Jan 2021
SSE has agreed to sell all of its interests in its portfolio of gas exploration and production (E&P) assets to
Viaro Energy via its subsidiary
RockRose Energy for a total consideration of £120m . The transaction is based on a locked box economic date of 31 March 2019 and is subject to regulatory approval and partner consent.
The diverse portfolio comprises non-operational equity shares in over
15 producing fields in three regions in the North Sea: the
Easington Catchment Area, the
Greater Laggan Area.
As part of the transaction, SSE will retain an obligation to pay 60% of the decommissioning costs , payable as the decommissioning of the assets occurs.