General

Shell wins appeal against 2021 ruling that ordered the supermajor to reduce carbon footprint by 45%.

19/11/2024 Posted by Dale

Shell has won an appeal against a 2021 ruling that ordered the supermajor to reduce its carbon footprint by 45%.

The appeals court, which was heard in The Hague, Netherlands, found that Shell did have a responsibility to cut emissions, but not by a stipulated amount.

The 2021 ruling had found that Shell should slash emissions by 45% by 2030, compared to 2019 levels.

The court said Shell was already on track to meet its own emission reduction targets and it was uncertain if demands that it further reduce emissions caused by the use of its products would help the battle against climate change.

‘Hands off Gallagher,’ he’s ‘Staying at Santos’

19/11/2024 Posted by Dale

SANTOS has raised eyebrows with a stern rebuttal of reports that it’s CEO Kevin Gallagher was destined to replace Chris Ellison as chief executive of Minres.

This came after Ellison, MinRes’s founder and the company’s biggest shareholder fell foul of ASX reporting on tax related issues and the company announced he would be stepping down as CEO within 12-18 months.

The West Australian had reported that Gallagher,59, Australia;’s longest serving energy CEO, over the past 9-years, could be ticked off as a potential candidate.

Santos responded almost immediately, dismissing any such suggestion as “completely fabricated, without foundation and false”.

The masthead handballed responsibility to MST Marquee energy analyst Saul Kavonic who it said had “speculated” in his daily newsletter that Gallagher could be MinRes bound in the not-too-distant future.

Moomba CCS Start-up

15/11/2024 Posted by Matthew.Quinn

Beach Energy announced on 17 October the successful commissioning and start-up of the Moomba Carbon Capture and Storage project.

All facilities, including five injection wells, CO2 dehydration and CO2 pipelines have been brought to capacity. The project is targeting capture and storage of 1.7 million tonnes of CO2 per annum in depleted Strzelecki and Marabooka field reservoirs.

Final Investment Decision for the project was announced in November 2021 and 60% completion was reached in May 2023 with the arrival of the compressor and turbine.

Moomba CCS is the third CCS project in Australia and follows the Otway International Test Centre and the Gorgon CCS project.

Shearwater Awarded Second Angolan OBN Survey by TotalEnergies

26/10/2024 Posted by Dale

Shearwater Geoservices Holding AS (“Shearwater”) has secured its second award from TotalEnergies for an Angolan OBN project. This follows the recent award of a project at block B32 on October 9, 2024.

The three-month deepwater OBN survey at B20/11 covering the Golfinho and Cameia fields, will utilise the Shearwater OBN platform comprising of the Pearl node and the company’s fit for purpose dual ROV-equipped SW Tasman. The SW Gallien will be acting as source vessel and the project will be in direct continuation of the previously announced project.

Shearwater CEO Irene Waage Basili commented,

“These consecutive projects underline the strength of our long-term strategy and adds to the already impressive utilisation of the Shearwater OBN platform.

Beach Delivers First gas from Thylacine West

25/10/2024 Posted by Dale

Beach Energy Ltd (ASX: BPT, Beach) is pleased to announce first gas from the Thylacine West 1 and 2 development wells following successful connection to the Otway Gas Plant.The Thylacine West development wells are located approximately 70 kilometres south of Port Campbell at a water depth of approximately 100 metres. The field is connected to the Thylacine subsea network via a 4.2 kilometre 8” flowline.

Commenting on first gas, Managing Director and CEO Brett Woods said: “First gas from Thylacine West marks completion of the largest ever offshore drilling and development program in the Otway Basin, a major achievement for Beach.

Viridien and SLB complete the data acquisition for a multi-client survey in Bonaparte Basin, offshore Australia

25/10/2024 Posted by Dale

Viridien and SLB have recently completed the acquisition of a new multi-client survey in the Bonaparte Basin, off the NW coast of Australia, that has received industry support and prefunding. The resulting 6,760 sq km ultramodern PSDM seismic data set will provide a thorough evaluation of this highly prospective and underexplored area to improve industry understanding. The data is currently being processed and the final data will be available in Q2 2025.

The complex geological area has been historically challenging to image due to the presence of carbonates and the shallow water.

Kinetiko Slumps on ‘Unexpected’ Drill Result in South Africa

24/10/2024 Posted by Dale

'Kinetiko Energy Ltd (ASX: KKO) has seen its share price plunge 28% after the first of a five-well drilling program failed to find commercial gas quantities.

The Perth-based explorer is developing an energy solution for South Africa focused on commercialising its 100% owned advanced shallow conventional gas projects in the Mpumalanga Province. At press time KKO as priced at 6.8c.

Drilling at well 271-23PT commenced on Friday, 27 September and was completed ahead of schedule on 16 October 2025.

Santos Announces Financing of Darwin LNG Life Extension Works

23/10/2024 Posted by Dale

Santos has announced the Darwin LNG joint venture -operated by Santos and in which Santos holds a 43.43 per cent interest -has achieved financial close of new syndicated bank loan facilities totalling US$800 million.

The facilities comprise a US$350 million 7-year, partially amortising loan maturing in 2031 and a US$450 million, 12-year partially amortising loan maturing in 2036. The facilities are senior-secured by Darwin LNG Pty Ltd. The shareholders in Darwin LNG Pty Ltd, including Santos, have granted security over their shares in that company.

The facilities received strong support from existing and new syndicated banking relationships and the proceeds will be used to fund the DLNG life extension works.

Woodside to Delist from London Stock Exchange

22/10/2024 Posted by Dale

Woodside has reviewed its current listing structure and decided to delist from the London StockExchange (LSE).

Woodside shares represented by depositary interests account for approximately 1%of Woodside’s issued share capital.

Trading volumes of Woodside shares on the LSE were low and delisting from the LSE will reduce Woodside’s administration costs, the company said.

Woodside has applied to the UK Financial Conduct Authority (FCA) and the LSE to cancel theadmission of Woodside shares to listing in the International Commercial Companies SecondaryListing category of the Official List of the FCA and trading under the ticker “WDS” on the Main Marketfor listed securities of the LSE.

Shearwater Secures Towed Streamer Projects in Asia Pacific

22/10/2024 Posted by Dale

Shearwate has announced the award of two consecutive towed streamer survey projects in the Asia Pacific Region with a combined duration of three months.

The Shearwater multi-sensor vessel Geo Coral is allocated to the projects which commences early in Q4 2024.

Shearwater is a global marine geoscience and technology business that specialises in collecting data offshore. The organisation uses state-of-the art seismic vessels and equipment to explore the seabed and processes the data using market-leading proprietary software.

These insights help clients understand the Earth and make informed decisions about accelerating responsible use of its resources.