MI - LNG trading will be more than OK, say Shell and the IEA - June 2020Royal Dutch Shell Plc, the world’s biggest LNG trader, expects trading of the frozen gas will return to pre-pandemic levels soon. “We still very much believe that, with the current supply-demand outlook, this is a fundamentally strong sector that will grow at a rate that is close to 4% per year,” CEO Ben van Beurden told Bloomberg. His comments echo Shell’s projections for worldwide LNG demand given in February, when it said demand would double to 700 mtpa by 2040. The world used 13% more LNG...
Jun 17, 2020
IS - People & Companies - November 5, 2019AIM-listed ADM Energy Plc appointed Peter Francis as non-executive chairman of the board and Manuel Lamboley nonexecutive director. Following these Oct. 21 appointments, Richard Carter moved from interim non-executive chairman to COO, and Stefan Olivier stepped down from the board, leaving the company with immediate effect. Australia’s Armour Energy Ltd. appointed Richard Fenton as interim CEO on Oct. 24 to replace Roger Cressey, who tendered his resignation July 29 but remained in his...
Nov 05, 2019
IS - Cluff’s equity raise transforms, funds new North Sea work - July 2019In a June 6 equity raise that CEO Graham Swindells called “transformative,” North
Sea-focused Cluff Natural Resources Plc, sold more than 857 million new ordinary
shares to existing and new institutional investors, and insiders, at £1.75 each to raise
£15 million. The shares sold in the placement represent 61% of the company’s
now outstanding shares.“Our company is now
entering an exciting operational phase of
its growth with line of sight over the drilling of at least two wells in the...
Jul 01, 2019
PS - People & Companies - June 13, 2019Abraxas Petroleum announced
that Angela A. Meyer was elected
director at its May 7 annual meeting of
stockholders. Meyer was VP of client
services at Exponent Inc. until 2018. Antero Resources announced the
retirement of Kevin J. Kilstrom as SVP of
production, effective Aug. 16. Apache Corp. announced the
election of Juliet S. Ellis to its board.
Ellis served as a managing director and
senior portfolio manager for Invesco
Ltd. and as the chief investment
officer for...
Jun 13, 2019
IS - People & Companies - April 25, 2019Marit Blaasmo will
succeed Jorunn Kvåle as SVP for health,
safety, security, environment & quality
at Aker BP. She will take a seat in the
executive management team
and will report to CEO Karl
Johnny Hersvik. The company
also announced that Kvåle will take
on the position as VP of new operating
strategy for Valhall field and will be a part
of the asset management team of Per
Mikal Hauge. The changes will take
place as of May 1. Cairn Energy Plc announced Alison
Wood will be the...
Apr 25, 2019
CM - $50B Anadarko purchase brings in new value for Chevron - April 2019Chevron Corp. will acquire Anadarko Petroleum Corp. in a deal worth $50 billion.
Under terms of the definitive agreement, signed April 11, Chevron will pay $8 billion in cash
and 200 million common shares, which closed NYSE trading at $126 each on the agreement
date for total cash and stock worth $33 billion. Chevron will also assume $15
billion of Anadarko debt and
take on other obligations worth
about $2 billion. Ranked the sixth-largest
M&A transaction in recent energy deal-making...
Apr 18, 2019
IC - Shell’s Nigerian unit will spend $15B there through 2024 - April 2019Shell Petroleum Development Co. said it would spend around $15 billion across
24 oil and gas projects in Nigeria during the next five years. The unit’s managing director,
Nosa Okunbor, told a group at the second Nigeria Oil and Gas Opportunity Fair that
Nigerians need to take advantage of the opportunities in the oil industry and that over
the next five years the company would exceed its goal of deploying Nigerian human and
material resources to hit its production targets, according to the...
Apr 10, 2019
IC - People & Companies - February 06, 2019David Torvik Tønne became new
CFO of Aker BP, succeeding Alexander
Krane, who is moving over to investment
director at Aker ASA. Lene Landøy
became director of strategy and business
development. Both appointments became
effective Feb. 1. ASX-listed American Patriot Oil
and Gas Ltd. elected Richard Cooney as
a non-executive director. Cooney founded
OPP Cap, a boutique fund manager
following his role as a senior private client
adviser with Patersons Securities. Angus Energy plc...
Feb 07, 2019
IS - People & Companies - January 31, 2019Alexander Krane, former CFO of
Aker BP, will take a position as investment
director at Aker ASA. David Torvik Tønne,
former VP, corporate control, is
the new CFO. Lene Landøy, VP,
Strategy Portolio and Analysis,
was named a director responsible for
strategy and business development. Both
will be a part of the company’s executive
management team and will report to CEO
Karl Johnny Hersvik. Aminex named Linda Beal as an
independent non-executive director and
chair the audit and risk...
Jan 31, 2019
ID - People & Companies - January 23, 2019Melbourne-based and US-focused
American Patriot Oil & Gas named
Richard Cooney as nonexecutive director. He is cofounder of Boutique Fund
Manager – OPP Cap, which focuses on
identifying founders and businesses with
high growth potential. Norway’s Aker BP named David
Torvik Tonne as CFO to replace Alexander
Krane. Tonne is currently the company’s
corporate controlling VP. Additionally,
Lene Landoy, Aker BP’s current
strategy, portfolio, and analysis
VP, has been appointed
director of...
Jan 23, 2019
IS - News Briefs - February 11, 2020Australian junior Empire Energy plans to spud an exploration well by mid-2020 in EP187 onshore Australia’s Northern Territory. The SL-4 well will target the Middle Velkerri A, B and C shales with an estimated net thickness of 270 meters and is analogous to the Marcellus, Barnett and Eagle Ford shales in the US. Doriemus plc signed a binding heads of agreement to issue 100-143 million of Chess depositary interests at A$0.035 each to gross up to A$5 million ($3.37 million). Under the...
Feb 11, 2020
IS - News Briefs - September 24, 2019London-listed Anglo African Oil & Gas plc has begun well re-entry operations in preparation to drill a sidetrack on its TLP-103C well at the onshore Tilapia site near Pointe Noire in the Republic of the Congo. The sidetrack will target the Djeno sands, from which neighboring fields have produced up to 5,000 bo/d per well. The Tilapia field is 1.8 km offshore, but the company drills from and has production and storage facilities onshore. It currently produces ~55 bo/d from the field’s R1/R2...
Sep 24, 2019
IS - News Briefs - July 23, 2019ASX-listed ADX Energy struck a deal
with Austrian E&P firm RAG Exploration
& Production GmbH to acquire the
onshore Zisterdorf and Gaiselberg fields
located in Austria’s Vienna Basin for $4.5
million (€4 million). Each field covers
2,503 sq km and holds total 2P reserves
of 0.98 MMboe. The assets are producing
350 boe/d and are expected to generate
2019 post-tax flow of $2.25 million. Axxis Geo Solutions, an enlarged
company through the buyout of Songa
Bulk, announced its listing on...
Jul 23, 2019
IS - News Briefs - June 06, 2019Aker BP came up dry at its 15/6-
15 wildcat, the first on Norwegian North
Sea production license 814. It will
plug and abandon the well and move
Odfjell Drilling’s Deepsea Stavanger
semisubmersible to PL 777 in the central
North Sea to drill another wildcat.IGas received approval to carry out
a waterflood project at its producing field
in the East Midlands area onshore the
UK. The project will convert a well in the
western portion of Scampton North field to
a water injector to increase...
Jun 06, 2019
ID - News Briefs - April 17, 2019NWF Group, a UK-based fuel
distributor, bought out Consols Oils Ltd, a
smaller, privately held rival that distributes
fuel and heating oil to commercial and
domestic customers in Cornwall, UK.
When the transaction closed April 4,
Consol became a subsidiary of NWF. Parkmead Group was awarded a
license to explore in the gas-prone 47/10d
and 48/6d blocks in the UK southern
gas basin of the North Sea.
Parkmead is the operator with
75% WI in the block, which
contains the Blackadder prospect...
Apr 17, 2019