Timor Leste: Carnarvon s Buffalo project advancing to drilling
01 Apr 2021
farm out of the Buffalo project
to Advance Energy and the
Buffalo
10 well.
Advance Energy has, subject to shareholder approval, successfully raised the capital to acquire a 50% interest in the Buffalo project. In return Advance Energy will fund the Buffalo-10 well on a free carried basis up to a cap of US$20m. This means the drilling will be at no cost to Carnarvon unless the well costs more than US$20m.
The transaction has been approved by the government of Timor-Leste.
It is expected that the transaction will complete after Advance Energy receives shareholder approval, which is scheduled for mid-April 2021.
Ithaca Energy announces 2020 year end financial results
01 Apr 2021
Ithaca Energy has announced its financial results for the twelve months ended 31 December 2020, together with the results of its independent year-end reserves assessment. The audited consolidated 2020 financial statements of the Company, related Management Discussion and Analysis, and Reserves Report are available on the Company’s website, www.ithacaenergy.com.
Highlights
Strong operational performance with Vorlich development on production in November 2020, limited disruption arising from Covid-19 related restrictions
Production of 66 thousand barrels of oil equivalent per day ( kboe/d ), 61% liquids, for the year
Unit operating costs of $16/barrels of oil equivalent (boe), down from $17/boe pro-forma 2019
Sweden: Wood appointed owner’s engineer on Europe’s largest single-site onshore wind farm
01 Apr 2021
Luxcara GmbH as owner’s engineer on its Önusberget wind farm development, located in Sweden’s Norrbotten County, near the town of Piteå.
Upon completion, the 753MW project is set to become Europe’s largest wind farm. The development will play a substantial role in supporting Sweden’s goal of becoming carbon neutral by 2045.
Andy Hemingway, President of Energy, Innovation & Optimisation at Wood, said: As the largest of its kind in Europe, the Önusberget wind farm will make a significant contribution to the European clean energy market.
Turkey: UKOG announces commencement of Basur-3 drilling site construction
01 Apr 2021 Basur-3 appraisal well s drilling pad and access road has now commenced. Construction works, located within the Company s 50% owned 305 sq km
Resan licence, are scheduled to last approx. 60 days.
The Basur-3 location lies approx. 1.2 km north and geologically updip from the
1964 Basur-1 oil discovery well, which as detailed in the Company s 14 October 2020 and 15 January 2021 releases, produced
500 barrels ( bbl ) of oil from a short 6-hour swab test, equivalent to an extrapolated daily rate of
2,000 bbl of oil per day.
Basur-3, the first modern appraisal well designed to confirm the extent and commerciality of the discovered
Canada: Cenovus completes amalgamation with Husky Energy
01 Apr 2021
Husky Energy has been amalgamated with Cenovus under the provisions of the
Canada Business Corporations Act. The company will continue to operate as Cenovus Energy Inc.
As a result of the amalgamation, Husky will no longer be required to file reports with the securities regulatory authorities in Canada or the United States.