Falklands: Rockhopper extends North Falkland Basin Petroleum Licences
05 Mar 2021
Rockhopper Exploration, the oil and gas exploration and production company with key interests in the North Falkland Basin, has announced that, following discussions between the joint venture partners,
Harbour Energy and the
North Falkland Basin Petroleum Licences, including the
Sea Lion Discovery Area, until 1 November 2022, with no additional licence commitments. The Licences were previously due to expire on 1 May 2021.
Samuel Moody, Chief Executive Officer, commented: The Company is grateful to the Falkland Islands Government for the extension of its North Falkland Basin licence interests and continued support of the Sea Lion project.
UK: Lightsource bp completes the sale of UK solar projects to renewable energy investment company NextEnergy Solar Fund
05 Mar 2021
Lightsource bp, a global leader in the development and management of solar energy projects, has announced the completion of the sale of 100MWp of UK solar projects to FTSE 250 renewable energy investment company
NextEnergy Solar Fund (NESF), for a total consideration of
£64.3 million.
The transaction consists of two 50MWp solar projects, one in Yorkshire and one in Nottinghamshire, one of which is already commissioned, and the second will reach connection in the first half of 2021. Both sites are being constructed using high-quality components and the latest bifacial module technology, to maximise generation and returns. Once operational, the combined installed capacity of the two sites will produce enough renewable electricity to power the equivalent of c.29,000 UK households per year and will increase NESF’s installed
Neptune Energy and Environmental Defense Fund (EDF) have announced a scientific collaboration to test a first-of-its-kind approach for measuring oil and gas methane emissions from offshore oil and gas facilities.
Australia: Victoria State Government bans fracking forever
05 Mar 2021
The Andrews Labor Government has listened to farmers and regional communities and banned fracking in Victoria for good, enshrining the ban in the state’s Constitution.
The
Constitution Amendment (Fracking Ban) Bill 2020 has passed through the Upper House and Victoria’s Constitution will now be amended, safeguarding our regions from the threat of practices that could harm the environment.
Fracking was banned in 2017 and at the 2018 election, the Labor Government promised to put that ban in the Constitution – to make it harder for future Liberal and National governments to put our food and fibre sector at risk.
US: Valaris receives court approval of Chapter 11 Plan of Reorganization
03 Mar 2021
Plan to Deleverage Balance Sheet by Over $6.5 Billion and Provide $520 Million Capital Injection
Valaris has received approval from the United States Bankruptcy Court for the Southern District of Texas of its prearranged
Plan of Reorganization. In addition to Bankruptcy Court confirmation, the Plan received support from approx. 80% of the Company’s unsecured notes and bank lenders representing 100% of the Company’s credit facility claims. In addition, approx. 81% of the Company’s voting shareholders voted to accept the Plan. I am pleased that we have received strong support for the Company’s amended plan. This is an important milestone, as it clears the path for Valaris to emerge from chapter 11 early in the second quarter. The overwhelming support from our noteholders and bank lenders shows their confidence in our go-forward strategy and strength as a company, said Tom Burke, Presi