Norwegian seismic player continues discussions with lenders The board of directors for Norwegian seismic player PGS has rejected an unsolicited $600 million offer from peer TGS for its multiclient library, saying the proposal was “not in the best interests of the company and its stakeholders”. PGS said Thursday that the board believed offer undervalued its […]
Impact of spending decline felt across the provincial economy, ATB Financial economist says Capital spending on oil and gas extraction in Alberta is expected to fall by roughly $7 billion from last year to $16.6 billion in 2020 — a plunge of about 30 per cent, according to ATB Financial. In an analysis released Wednesday, […]
Canada needs to sharply reduce greenhouse gas emissions from oil and gas production if the country expects to attract investment necessary to expand output, Canadian Natural Resources Minister Seamus O’Regan said on Tuesday.The world’s fourth-largest global oil producer has been weakened in recent years by multinational producers scaling back and investors pulling out, due to […
Drilling to start ‘imminently” with the drillship now on location at the Kaieteur Block US giant ExxonMobil is preparing to spin the bit at the Tanager prospect on the Kaieteur Block off Guyana, with the drilling rig now on location. UK-listed Westmount Energy, which holds an indirect interest in the Kaieteur Block through its minority […]
Newfoundland and Labrador seeking support for pillar of province’s economy As a girl in the small town of Lewisporte on the shores of the Atlantic Ocean, Sacha Gale often struggled with the question of what she wanted to be when she grew up. Unlike her younger brother and sister who were passionate about music and […]
US independent and partner Total to drill appraisal and new exploration probes next year after latest wildcat success US independent Apache is lining up appraisal and exploration drilling programmes off Suriname next year after unveiling what it called a “major” oil discovery, with test results suggesting it is the best well drilled to date on […]
New study by OGA says better co-ordination between offshore oil and gas and renewables could go much of the way to achieving decarbonisation goals Closer integration of the UK’s offshore energy systems could help meet almost two-thirds of the nation’s target to become carbon neutral by 2050, according to the fndings of a key new […]
Husky Energy Inc. is joining other major oilsands producers in setting a short-term emissions intensity reduction target as a preliminary step as it works on a way to achieve net zero emissions by 2050. In its 2020 environmental, social and governance (ESG) report, it calls for a 25 per cent emissions per barrel reduction by […]
The Impact Assessment Agency of Canada (the Agency) is conducting a federal environmental assessment for the proposed Bay du Nord Development Project, located approximately 450 kilometres offshore, east of St. John’s, Newfoundland and Labrador. The Agency invites the public and Indigenous groups to comment on the potential environmental effects of the project and the proposed measu
Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the UK Oil and Gas Authority (OGA) said Thursday. Production efficiency is the total volume of hydrocarbons produced as a percentage of the theoretical economic maximum production potential. […]
