Southern Energy Corp (TSX-V:SOU, AIM:SOUC, OTC:MAXMD) announced that Paul Baay has agreed to join the company's board of directors as a non-executive director, subject to the completion of customary due diligence required in accordance with the AIM Rules for Companies.
The natural gas exploration and production company said Baay, who previously acted as a special advisor to Southern and is currently CEO of Touchstone Exploration, brings more than 25 years of experience leading oil and gas exploration and production companies to his new role.
ExxonMobil has fired back at US President Joe Biden after his quip that it is making ‘more money than God’ due to soaring crude prices.
The US oil and gas giant pointed out it had invested more than US$50bn in the US over the past five years, resulting in an almost 50% increase in US production of oil during this period.
Harbour Energy PLC (LSE:HBR) launched a US$200mln share buyback programme, marking a fresh milestone in the rehabilitation of what’s now the North Sea’s largest independent oil and gas producer.
The company (formed last year with the merger of Premier Oil and Chrysaor) told investors it has entered into irrevocable, non-discretionary agreements with its corporate brokers to execute the share buy-back programme on its behalf. It is scheduled to be completed before the end of 2022.
Hurricane Energy PLC (LSE:HUR) confirmed it is looking beyond next month’s bond repayment with chief executive Antony Maris telling investors he believes there are “exciting opportunities ahead” for the company.
The UK offshore oil producer told investors it banked some US$59.5mln from its latest oil shipment, in May, which was priced at US$110 per barrel. The next cargo is due at the end of July.
Zephyr Energy Plc told investors its portfolio of non-operated well interests, in the Williston Basin, North Dakota, continues to grow – with new drilling and bolt-on acquisitions.
Over the past two months the company has elected to participate in seven new wells and has agreed to acquire interests in eleven additional wells, most of which are newly drilled and await completion, the company said in a statement.
BP PLC (LSE:BP.) announced it will be take a 40.5% stake in a massive renewable energy venture in Western Australia’s Pilbara region, famous for its large-scale mining operations and access to Asian export routes.
The Asian Renewable Energy Hub (AREH) project, which will combine solar and wind power, aims to deliver some 26 Gigawatts of renewable power capacity and at full capacity will also yield some 1.6mln tonnes of green hydrogen and 9mln tonnes of green ammonia.
Eco (Atlantic) Oil & Gas Ltd (AIM:ECO, TSX-V:EOG) announced its deal to acquire JHI Associates, to increase its interests in exploration assets offshore Guyana, is off after technical terms of the deal could not be finalised.
The AIM-quoted company said it could not agree lock-up terms that would’ve protected its shareholders from JHI shareholders selling newly issued acquisition shares immediately after the deal.
Kinetiko Energy Ltd (ASX:KKO) has encountered significant gas formations at all three Korhaan Project wells in the Northern Karoo Basin of energy-hungry South Africa with Korhaan Well 3 (K-3) the latest standout performer.
Significant gas flow rates have been achieved in K-3 with a flow rate of 83,000 standard cubic feet per day.
Quadrise Fuels International PLC (AIM:QFI, OTC:QDRSF) told investors it has signed a new agreement with its client in Morocco, which sees the company supply trial quantities of its MSAR and bioMSAR alternative fuels for an industrial demonstration at one of the client's sites.
The company will then provide the client with a written report on the efficacy of using MSAR and bioMSAR, the new agreement states. Subject to the demonstration test meeting client-specified deliverables, it is then expected that they will enter negotiations for a potential commercial supply of the products.
Wentworth Resources PLC (AIM:WEN) has struck a deal to acquire Scirocco Energy PLC's (AIM:SCIR) 25% stake in Aminex PLC's (LSE:AEX) Ntorya field development project in Tanzania.
It is a deal that has made sense on paper for some time given that Scirocco has been open to sale and that Ntorya lies adjacent to Wentworth’s 32%-owned flagship Mnazi Bay gas field.