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Westmount Energy Ltd (AIM:WTE) | RNS | Westmount Energy Ld - Stena Carron Drillship movement from Bulletwood-1
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Investegate |Westmount Energy Ld Announcements | Westmount Energy Ld: Stena Carron Drillship movement from Bulletwood-1
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Hess Reports Estimated Results for the Fourth Quarter of 2020
Fourth Quarter Financial and Operational Highlights:
Net loss was $97 million, or $0.32 per common share, compared with a net loss of $222 million, or $0.73 per common share in the fourth quarter of 2019
Adjusted net loss1 was $176 million, or $0.58 per common share, compared with an adjusted net loss of $180 million, or $0.60 per common share in the prior-year quarter
Completed the sale of the Corporation s 28% working interest in the Shenzi Field in the deepwater Gulf of Mexico for net proceeds of $482 million, after closing adjustments
Oil and gas net production, excluding Libya, averaged 309,000 barrels of oil equivalent per day (boepd), down from 316,000 boepd in the fourth quarter of 2019; Bakken net production was 189,000 boepd, up 9% from 174,000 boepd in the prior-year quarter
Commencement of drilling operations at Bulletwood-1, Canje Block, offshore Guyana
Westmount Energy Limited (UK AIM: WTE.L, USA OTCQB: WMELF) is pleased to note the announcement by the Maritime Administration Department, Guyana, dated 1
st January 2021, that the Stena Carron drillship has arrived on location at the Bulletwood-1 wellsite on the Canje Block, offshore Guyana and has commenced drilling operations.
As previously announced, Westmount holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc. ( JHI )
1. The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
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Guyana s Maritime Administration Department has said that the
Stena Carron drillship has arrived on location at the Bulletwood-1 wellsite on the Canje Block, offshore Guyana and has commenced drilling operations.
The Canje Block is currently operated by an ExxonMobil subsidiary, Esso Exploration & Production Guyana Limited (35%), with Total (35%), JHI Associates (17.5%) and Mid-Atlantic Oil & Gas Inc. (12.5%) as partners.
Previously published information by JHI indicates that Bulletwood-1 is a 500 million bbl oil prospect targeting a Liza look-alike, confined channel complex, of Late Cretaceous, Campanian, age. Based upon the announcement by the Maritime Administration Department drilling operations are scheduled to be completed at Bulletwood-1 on or before 23 February 2021.
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