Iraq: Genel Energy receives payment for Shaikan oil sales
12 Apr 2021
Gulf Keystone confirms that a gross payment of $29.4 million ($23.0 million net to GKP) has been received from the Kurdistan Regional Government ( KRG ). The payment is comprised of gross $22.3 million ($17.5 million net) for
Shaikan crude oil sales during February 2021 and gross $7.1 million ($5.5 million net) in relation to the arrears from the outstanding November 2019 to February 2020 invoices. Following receipt of the arrears payment, the current outstanding balance is $65.2 million net to GKP.
Chile: Statkraft to build its first wind farms in the world’s southernmost country Chile
12 Apr 2021
Statkraft, Europe’s largest renewable energy generator, will build its
first wind farms in Chile, expanding its renewable energy generation capacity in the South American country amid an increasing demand for hydro, wind and solar power in the southernmost nation in the world.
Combined with the company’s existing hydropower assets, Statkraft will reach a generating capacity of 366 megawatt (MW) by the end of 2023. The 102 MW Torsa wind power project consists of three wind farms, totalling 19 wind turbines supplied by German manufacturer Nordex.
In total, the wind farms are expected to produce more than
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UK: Tailwind Energy to acquire Decipher Energy
01 Apr 2021
Decipher Energy.
This acquisition will allow Tailwind to continue to deploy its strategy of exploiting organic production and near-term reserves growth opportunities whilst building out the Tailwind portfolio. The transaction is subject to statutory regulatory and government approvals.
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US: Pioneer Natural Resources announces bolt-on acquisition of DoublePoint Energy in the Midland Basin
02 Apr 2021
Pioneer Natural Resourceshas entered into a definitive purchase agreement to acquire the leasehold interests and related assets of
DoublePoint Energy in a transaction valued at approx. $6.4 billion as of April 1, 2021, comprised of approx. 27.2 million shares of Pioneer common stock, $1 billion of cash and the assumption of approx. $0.9 billion of debt and liabilities.
Scott D. Sheffield, Pioneer’s CEO stated: DoublePoint has amassed an impressive, high quality footprint in the Midland Basin, comprised of tier one acreage adjacent to Pioneer’s leading position. We are pleased with their decision to become long-term partners with Pioneer in a transaction that will complement our unmatched position in the core of the Permian Basin. Pioneer will incorporate these assets into our investment model, migrating the assets from significant production growth to a free c