Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Usual doomsters at work here.........Sad so very sad....second strike at Diever imminent. All positive news to come through in the next few weeks.
Going by last RNS it should be another gas discovery !
Is that another gas cigarette lighter discovered......pressure pressure..... Red Adair
Bobert
Eh are we hearing correctly.......
My prediction was low ball.....Buzz predicted double my forcast.
Cross statement was factual his quote was if a major comes comes in they will partner.Other than that they will offload
scot240 : What's your other alias........It's so obvious !
MRC
Talking more ulterior motive again !
Cross stated AGM end of 1st Quarter Perth would have an out come !
Now now Darren take a chill pill.
"We are delighted to announce a gas discovery from the first well of the two-well LDS drilling campaign," Mr Cross said.
"The immediate proximity to production infrastructure allows for an extremely short tie-in period, and we expect first gas to be onstream within the first quarter of this year. This will provide Parkmead with immediate net production and cashflow."
He added that the group's assets in the Netherlands are continuing to yield additional discoveries and enhance production from this "prolific" onshore region.
Parkmead recorded record profits for the year to the end of June as bumper oil and gas prices drove revenues to an all-time high. The group, which is headquartered in Aberdeen, got a significant boost from its move in 2021 to double its interest in the Grolloo, Geesbrug and Brakel onshore gas fields in the Netherlands to 15 per cent.
Shares in Parkmead, which are listed on London's Alternative Investment Market, closed 3.7p higher at 56.3p.
It's only the beginning of good news.....They have encountered several coloums of gas.
What's next in any order
second drill results
Skerryvore drill
Perth farm out
Pitreadie development
License round 33 (platypus and more )
Surety
Nonsense !
Yeah good idea to drill two wells targeting mother load of gas !
Sturgeon would be worse consider yourself lucky.
Lol.....Whatever !
Claymore £140 million still don't see the connection....
MRC
Turned down £140 million ...... Pull the other one please....
I will not get involved with your ulterior motive.
Thank you .
North Sea boss Simon Roddy told Energy Voice recently that Shell is “still in the licence and still looking at options“.
Windfall Tax and electrification
Welligence also predicted Firmer “plans for electrification of offshore facilities”, in the wake of recent events.
Earlier this month, Equinor, Ithaca and BP recently signed a pact to progress electrification in the West of Shetland following amendments to the UK windfall tax which effectively granted such projects a subsidy.
Electrification pact signed in December: (Standing) UK energy minister Graham Stuart MP, with (L-R): Equinor SVP for exploration and production Al Cook, BP UK country head Louise Kingham, and Ithaca Energy chairman Gilad Myerson.
Last month, Chancellor Jeremy Hunt unveiled a hike to the Energy Profits Levy, but kept the general investment allowance the same.
However, there was a hike in the allowance specifically for projects to electrify oil and gas assets – meaning firms spending £100 on decarbonisation will receive £109.25 back.
Ithaca, BP and Equinor signed an agreement to explore electrification options for the huge Clair, Rosebank and Cambo fields in the West of Shetland.
Welligence says “this is potentially more attractive post-EPL” as firms seek capital expenditure opportunities in the coming months.
The group added that this is “especially” the case “as upstream decarbonisation is not subject to the reduced investment allowance.
Increase in appetite for mergers and acquisitions
An increased opportunity for merger and acquisition deals has also been flagged by the organisation.
Assets may be changing hands in the new year as CNOOC International, ONE-Dyas, Suncor, Shell and ExxonMobil’s SNS assets present a “large pool of opportunities.”
© Supplied by Welligence
Welligence graphic showing selected key M&A opportunities in the UK North Sea for 2023.
However, this is dependent on there being “sufficient buyer appetite” according to the analysts “which appears to be in strong supply” at the moment but the organisation does pose the question “for how long?”
Earlier this year senior analyst for Westwood Energy, Yvonne Telford, told Energy Voice: “Commodity price volatility can lead to delays in agreeing terms of M&A deals, as the gap between buyer and seller value expectations can be wider.
“That said, the longer prices remain high, more companies are likely to have available cash for M&A activities, which can expand the buyer pool.”
Final investment decisions (FIDs) are being predicted for a series of large untapped oil and gas fields in the UK North Sea next year.
Analytics firm Welligence said, alongside the announced FIDs planned for Cambo and Rosebank, progress is expected on Perth, Bentley and Bressay in the North Sea.
“Commitment at large greenfield developments, including Cambo and Rosebank, is expected,” the firm said.
“We may see some progression towards FID at the very last of the large, undeveloped fields including Perth, Bentley and Bressay.”
Perth
The Greater Perth Area is 100% owned by Parkmead Group (LON: PMG), in the Central North Sea, one of the region’s largest undeveloped projects.
Holding around 55 million barrels of recoverable oil equivalent, discussions are ongoing with CNOOC on using the nearby Scott platform six miles south to receive production from Perth.
Parkmead drafted in finance advisory Parkmead in summer to help find a partner for the development.
Bentley and Bressay
EnQuest (LON: ENQ) acquired operatorship of both Bentley and Bressay in 2021; large oilfields close by to one-another around 85miles south-east of Shetland in the Northern North Sea.
The London-listed firm said in March that they added almost 250m of barrels of oil equivalent to its 2C reserves and that it was exploring a range of development options.
© Supplied by EnQuest
Bentley lies less than 10miles from EnQuest’s producing Kraken field.
It added that a field development plan would be advanced in 2022, though this has yet to filter through to the public.
The two fields are close by to one-another, and a boss at Xcite Energy, which used to operate Bentley told Energy Voice that developing them in tandem was an “obvious” solution.
He added that the pair are “quite likely the same field, or they’re very closely related”.
Bentley lies less than 10miles from EnQuest’s producing Kraken field.
Cambo and Rosebank
Cambo and Rosebank in the West of Shetland, together the largest untapped projects in the UK, are due for FID in 2023.
Equinor operates Rosebank, which is thought by its partners to have 300 million recoverable barrels in its first phase, which will produce through the electrification-ready Knarr FPSO.
Ithaca Energy (LON:ITH), which is partnered on Rosebank, operates the Cambo oilfield in the same region.
cambo ithaca contracts
Cambo will be designed to be electrification ready
Chairman Gilad Myerson said the firm has “line of sight” to sanctioning the development next year.
An exploration licence for Cambo was granted in 2001 and around 170 million barrels of oil are being targeted in its first phase.
That’s despite climate controversy marring the development, which is also electrification-ready.
Shell is a 30% partner on the project and, despite saying last year it would not progress the field to investment, has not exited the project.
North Sea boss Simon Roddy told Energy Voice recently that Shell is “still in the licence and still looking at o
Oh oh Team Cuckoo have arrived
Roadster66
Yeah pity thought Tom was looking out for you today
News on Perth to be announced end of first quarter it could well be monetised unless a big major comes in.
Skerryvore has three Zones they anticipate to encounter with Parkmead the operator
Diever still drilling half way there.
Athena abandonments are currentley in operation x 6;
1 at platypus and one at Perth to follow !