Triangle Energy completes 3D seismic survey over Perth Basin permit L7
“This is a major step towards realising the potential in this highly prospective block,” says MD Conrad Todd.
Company
Triangle Energy (Global) Ltd
ASX:TEG
Triangle Energy (Global) Ltd is an experienced oil producer and explorer with operations located in the Perth Basin, approximately 270 kilometres north of Perth, Western Australia. The company is the registered operator and holds a substantial interest (78.75%) in the Cliff Head Oil Field (PL WA-31-L) encompassing the onshore Arrowsmith Stabilisation Plant and offshore Cliff Head Alpha Platform.
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Triangle Energy snaps up A$3.5 million via oversubscribed placement for production upgrades
Triangle will use the funds for a production well workover, a new oil export route and to execute a 3D seismic acquisition.
Triangle Energy and Pilot Energy ink new binding term sheet for joint Carbon Capture and Storage Project
“Our co-operative joint venture will both reduce Triangle’s abandonment liability and defer it for at least 10 years after oil production. We are especially pleased that the CHJV will at the same time be making a significant contribution to
Triangle Energy makes headway on Arrowsmith oil tank upgrade and Perth Basin export route
In early May, the plan is for the CHJV to sell the estimated 140,000 barrels of oil stored at Kwinana to BP, taking advantage of current high oil prices.
Triangle Energy bolsters prospective gas resource at Perth Basin’s L7 permit
“Net resources will double when we complete the acquisition of the remaining 50% interest from Key,” says MD.
Triangle Energy’s JV partner nears completion of Mid West Blue Hydrogen and Carbon Capture and Storage study for Cliff Head Oil field
Pilot Energy has produced interim results from ongoing feasibility studies centred on future hydrogen production and carbon capture storage at the Cliff Head Oil Field, which Triangle Energy owns a majority interest in and operates.
Triangle Energy and Key Petroleum extend cut-off for sale of 50% in production licence
The company recently confirmed the technical prospectivity of Production Licence L7(R1) onshore Perth Basin and said, “we view as having potential for very attractive oil and gas prospects”.
Triangle Energy overhauls board, brings on new expertise
“The board envisions a smooth transition and looks forward to generating further value for shareholders from the company’s attractive portfolio of assets," says non-executive chair Greg Hancock.
Triangle Energy trains its focus on progressing interim offtake arrangements for Cliff Head joint venture
Triangle is highly leveraged to the recent upward revaluation in crude oil prices and is benefiting from the soft Australian dollar.
Triangle Energy marks December quarter with steady oil production
During the December quarter, the Cliff Head Joint Venture (CHJV) continued to produce and deliver crude oil to BP Kwinana and by quarter’s end had delivered 58,839 barrels of crude oil.
Triangle Energy continues to work with Pilot Energy on purchase of WA-481-P offshore exploration permit
While regulatory approval for the proposed transaction remains pending Pilot will progress the work program for the exploration permit independently of Triangle.
Triangle Energy begins FEED study for proposed 5,000 barrel/day Renewable Fuel Refinery
“The Triangle Energy team is very pleased to announce our investigation into the potential to establish a modern, modular renewable fuel refinery by leveraging our existing infrastructure in the Perth Basin," says CEO.
Triangle Energy’s Cliff Head Joint Venture estimates A$10.8 million saving in decommissioning cost
Triangle’s 2C contingent resources at Cliff Head Oil Field, offshore Perth Basin in Western Australia, as of June 30, 2021, are estimated at 3.47 million stock tank barrels.
Triangle Energy reinstates Cliff Head reserves and contingent resources
The oil producer and explorer has officially restated its reserves after they were withdrawn late last year, with its net 78.75% share of Cliff Head’s 2P reserves estimated at 810,000 stock tank barrels.
Triangle Energy completes lifting of 107,000 barrels of crude from BP Kwinana Terminal
Triangle Energy’s managing director Robert Towner said the accumulation of five months’ inventory meant the company has benefited from the increase in oil price by around US$1 million compared to monthly lifting.
Triangle Energy secures key crude oil offtake agreement with BP Singapore, shares up
“The Cliff Head Oil Field, together with its significant infrastructure, is now capable of continuing to take oil to the market, as well as providing the base upon which further exploration and development success in the permit areas may be
Triangle Energy bolsters corporate skillset with appointment of non-executive director
Deanna Carpenter has more than 10 years of experience as a lawyer with a focus on equity capital markets and mergers & acquisitions, as well as extensive experience in governance, risk management and corporate compliance.
Triangle Energy further extends Key Petroleum agreement cut-off to January 31, 2022
Both companies are continuing to complete regulatory requirements and, therefore, have agreed to further extend the proposed cut-off date for the agreement to January 31, 2022.
Triangle Energy brings CH-6 well back online as workover program comes to an end
By bringing CH-6 back into production, the ASX-listed operator expects to produce 120 more barrels of oil per day, bringing Cliff Head’s total field production to roughly 850 barrels of oil per day.
Triangle Energy completes L7 review and confirms Maiden Prospective Resource estimate
Triangle has been reviewing the Prospects and Leads portfolio within L7, leading to a prospective resource estimate for 18 oil opportunities and four gas leads.