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Novatek tacks against the headwinds [NGW Magazine] Feb 10, 2021 10:15:am Summary The Russian gas producer and LNG exporter has been working to improve its green reputation, and investors have taken note. [NGW Magazine Volume 6, Issue 3] by: Joseph Murphy Russia’s leading LNG exporter Novatek has been working to convince increasingly climate-conscious investors of its green credentials. The company’s investment case is mainly its low costs and firm growth trajectory. Its stock price rose steadily in the years before the coronavirus pandemic, peaking at £21.4 ($29.4)/share in October 2019. Investors were heartened by the speedy and on-budget completion of Yamal LNG’s first three trains between late 2017 and late 2018, as well as Novatek’s final investment decision on Arctic LNG-2 in September 2019. ....
Total Sets Carbon Price Reduction Ceiling at $40/mt Feb 10, 2021 11:00:am Summary The French major has reviewed all its projects and found ways to avoid, reduce, offset or capture carbon for its projects. by: William Powell French energy firm Total is aiming at a ceiling of $40/metric ton (mt) when considering new upstream projects, upstream head Arnaud Breuillac told a conference for analysts February 10. All ne. Posted in: ....
/EIN News/ CALGARY, Alberta, Feb. 10, 2021 (GLOBE NEWSWIRE) (PIPE – TSX) Pipestone Energy Corp. ( “Pipestone” or the “Company”) is pleased to provide an update on its production and operations, as well as report its year-end 2020 independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. (“ McDaniel”) with an effective date of December 31, 2020 (the “ McDaniel Report”). Since inception, Pipestone has continued to demonstrate leadership in combining capital cost efficiencies with highly productive wells in the condensate-rich Alberta Montney play. This is reflected in the past year’s significant growth in reserve volumes and continued reduction in future development costs (“ FDC”). Production & Facilities: ....
Cnooc Sees 3-5% Increase in 2021 Output Chinese state-run Cnooc expects a 3-5% year/year increase in its production in 2021, it said in a February 4 statement. The company sees its net production this year between 545-555mn barrels of oil equivalent compared with 528mn boe in 2020. It also plans to drill 217 exploration wells and collect approximately 17,000 km 2 of 3-dimensional seismic data. Cnooc plans to bring 19 new projects on stream this year. The key projects include Lingshui 17-2 gas fields development, Lufeng oil fields regional development, Caofeidian 6-4 oil field in offshore China, Buzzard oil field phase II in the UK and Mero I oil field in Brazil. ....