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Australia: Victoria State Government bans fracking forever

Australia: Victoria State Government bans fracking forever
05 Mar 2021
The Andrews Labor Government has listened to farmers and regional communities and banned fracking in Victoria for good, enshrining the ban in the state’s Constitution.
The
Constitution Amendment (Fracking Ban) Bill 2020 has passed through the Upper House and Victoria’s Constitution will now be amended, safeguarding our regions from the threat of practices that could harm the environment.
Fracking was banned in 2017 and at the 2018 election, the Labor Government promised to put that ban in the Constitution – to make it harder for future Liberal and National governments to put our food and fibre sector at risk. ....

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Will Private Shale Firms Crush The OPEC Oil Rally?

The OPEC+ alliance has managed to restore balance in the oil markets, but the question remains U.S. shale drillers will manage to practice restraint as prices rise ....

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US: Valaris receives court approval of Chapter 11 Plan of Reorganization

US: Valaris receives court approval of Chapter 11 Plan of Reorganization
03 Mar 2021
Plan to Deleverage Balance Sheet by Over $6.5 Billion and Provide $520 Million Capital Injection
Valaris has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged
Plan of Reorganization. In addition to Bankruptcy Court confirmation, the Plan received support from approx. 80% of the Company’s unsecured notes and bank lenders representing 100% of the Company’s credit facility claims. In addition, approx. 81% of the Company’s voting shareholders voted to accept the Plan.
I am pleased that we have received strong support for the Company’s amended plan. This is an important milestone, as it clears the path for Valaris to emerge from chapter 11 early in the second quarter. The overwhelming support from our noteholders and bank lenders shows their confidence in our go-forward strategy and strength as a company, sai ....

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UK: Oil and gas industry welcomes Chancellors' Budget measures to support green energy transition

UK: Oil and gas industry welcomes Chancellors’ Budget measures to support green energy transition
03 Mar 2021
The UK oil and gas industry has welcomed some of the measures announced by the Chancellor in Wednesday s Budget, adding that now close cooperation with the sector is essential to maximise its world-leading expertise and assure a successful green energy transition.
The leading representative body for the sector
OGUK said the combination of taxation and investment measures offers a potentially strong route to transition energy and employment ahead of the much anticipated and crucial North Sea Transition Deal that we are negotiating with Government.
OGUK Chief Executive Deirdre Michie, said: ....

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Australia: Vintage Energy announces operations update

Australia: Vintage Energy announces operations update
03 Mar 2021
PEL 155: Nangwarry-1 testing to commence in mid-March; operator advises slight delays due toCOVID-19 restrictions around transportation of equipment; material value to be added over the long-term upon successful test
ATP 2021and PRL 211: Potential to deliver upside with new wells; rig contract signed for multi-well Cooper Basin campaign
Vintage Energy has provided an update on activities relating to the testing of
Nangwarry-1 in the onshore Otway Basin and the
Vali gas field and
Neil Gibbins, Vintage Managing Director, said:
We are pleased that, despite equipment delivery uncertainty and cross-border travel restrictions due to recent COVID-19 lockdowns,the operator has now advised that the testing of ....

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