Equinor of Norway and its partner BP have asked the New York State Energy Research and Development Authority (NYSERDA) for permission to raise the price of power produced at three planned offshore US wind farms by 54%, according to a recent filing.
The two companies won the rights to build the Empire Wind 1, Empire Wind 2 and Beacon Wind farms off the New York coast, which have a combined capacity of 3,300 megawatts, capable of powering millions of homes, Reuters reported.
Mosman Oil and Gas Ltd (AIM:MSMN) said a frac at the G-2 production well at the Cinnabar Project in Texas successfully connected the First Wilcox reservoir zone to the production well and enabled the zone to flow.
Earlier in the month, the company completed a detailed development plan for the Cinnabar lease's three production wells, where production was included in the gross quarterly production numbers of 1,775 boe.
i3 Energy PLC has upped earnings guidance for the current year following the recent rise in oil and gas prices and higher production as disruption eases from the wildfires in Alberta, Canada.
Production in the June quarter was reduced by 3,100 barrels per day (boepd) due to restrictions caused by the fires along with scheduled pipeline maintenance and well workovers.
Helium One Global Ltd (AIM:HE1, OTCQB:HLOGF) said it is on track to start drilling at the Rukwa well in Tanzania from September.
An experienced crew has now been appointed, the company said in a statement, with its recently acquired rig almost fully set up at the site.
Europa Oil & Gas (Holdings) PLC has stated that operations to install an artificial lift on the Wressle-1 well have commenced.
Europa, a UK and Ireland-focused oil and gas exploration, development, and production company, has a 30% interest in the Wressle project.
Union Jack Oil PLC (AIM:UJO) has stated that installation is underway on the Wressle-1 well of a downhole jet pump and associated surface facilities in order to optimise future production.
Union Jack, a UK-focused onshore hydrocarbon production, development and exploration company, holds a 40% economic interest in the Wressle development.
88 Energy has completed a shortfall offer placement for all of the shares not taken up in its recent rights issue.
The proceeds of the rights issue and shortfall offer together amount to A$8.0 million (£4.1 million) before costs, which add to existing cash reserves (A$7.3 million (approx. £3.8 million) as of 30 June 2023.
Dividends paid out by major companies increased in the past quarter and is expected to continue growing this year, even with global growth slowing.
Growth has been driven by record payouts by banks and in Europe especially, which outstripped all other regions.
Eco (Atlantic) Oil & Gas Ltd said its plans for the Orinduik Block, where it is to become the majority shareholder and operator, are to attract new partners to join the licence and proactively engage in drilling.
Currently, it has a 15% holding in the offshore Guyana block that contains Orinduik, but that will rise to 60% following completion of the acquisition of Tullow Oil's stake.
Challenger Energy Group PLC (AIM:CEG, OTC:BSHPF) has established a £3.3 million convertible loan note funding facility with a UK-based alternative asset management and investment firm.
The loan is intended to support business development, primarily for the accelerated technical work programs in Uruguay, as well as business development opportunities in Trinidad.
Arrow Exploration Corp (TSX-V:AXL, AIM:AXL, OTC:CSTPF) has posted second-quarter results revealing revenue and underlying earnings more than doubled from a year earlier as oil production soared.
The company, which operates a portfolio of assets across key Colombian hydrocarbon basins, also generated positive operating cashflows of $4.9 million for the quarter ended June 30, 2023, a $5 million swing from the negative $0.1 million reported in 2Q 2022.
Chevron Corporation (NYSE:CVX) workers based at liquified natural gas (LNG) terminals in Australia will begin walkouts next month, in a move likely to weigh on global supply of the fuel.
Two of the oil major’s sites in Australia - Gorgon and Wheatstone - could face stoppages of up to 11 hours a day due to the action, which is set to begin on Thursday, 7 September.
Quadrise PLC (AIM:QED) recovered ground as it confirmed its partner Valkor will carry on with a pilot programme to drill for heavy oil in Utah even though a much wider and larger drill programme was rejected last week by the local authorities.
Valkor plans to use Quadrise’s patented MSAR technology to produce less environmentally damaging shipping and other fuels, with the pilot the first step to establishing an operation at Asphalt Ridge in Utah.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) rallied as the Alaska-focused oil explorer hailed a report by independent consultant NSAI as validation of the huge amounts of oil it has often suggested lie under its licences.
NSAI gave a mid-range estimate of almost one billion barrels for the Kodiak field, one of a couple of keenly watched prospects in the area, and that, Pantheon said, was a big deal given its current market cap of £123 million.
88 Energy Ltd (AIM:88E, ASX:88E, OTC:EEENF) is raising up to £4.5 million through a placing at 0.31p per placing share following a rights issue that raised £1.7million.
The oil explorer had originally wanted to raise up to £ 6.29 million from the rights issue, which would be used to fund flow testing of the Hickory-1 well in Alaska.
Quadrise PLC (AIM:QED) and Valkor Technologies have amended the terms of their deal in Utah so that it is now only conditional on the receipt of at least US$15 million in project financing.
The change follows the rejection of a unitisation plan for the heavy oil deposit by the Utah Board of Oil, Gas and Mining, but a pilot drilling programme has already been approved and will go ahead.
Pantheon Resources PLC (AIM:PANR, OTCQX:PTHRF) said an independent report has estimated almost one billion barrels of oil at its Kodiak project, formerly known as Theta West, in Alaska.
Netherland, Sewell & Associates (NSAI) carried out the assessment with 2C or mean average contingent resources estimated at 962.5 million barrels, a low estimate of 437.8 million and 2.01 billion in a best-case scenario.