Energy News Press Release to 26 Mar. 2022. US Rig Count Up by 7
Crude oil futures had settle lower in overnight trading March 24
West Texas Intermediate (WTI for May delivery at $112.34/bl in New York
Brent for May settlement $119.03 a barrel.
Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused oil and gas company, is pleased to announce that it has raised £300,000 by way of a placing of 60,000,000 new ordinary shares of 0.1 pence each (the “Placing Shares”) a at a placing price of 0.5 pence per Placing Share (the “Placing Price”) (the “Placing”). Tavira Securities Limited (“TSL”) acted as broker.
The proceeds of the Placing will be used to meet the Company’s expected share of Barryroe costs and to fund the Company’s ongoing working capital requirements for the next 6 months, whist awaiting the outcome of the application for a Lease Undertaking for Barryroe. Read More
The Hamburg-based solar and wind farm operator Blue Elephant Energy AG (BEE) has contracted four more PV projects in Chile with a total capacity of 44 MW on 17 March 2022. Two projects with a capacity of 20 MW were acquired from the Finnish investment company Korkia and MoonValley Capital. In addition, Chilean developer and EPC oEnergy Generación Solar Distribuida SpA (oEnergy) is contributing further 24 MW. The portfolio with a total capacity of 44 MW will be build as part of a joint venture with oEnergy. The total portfolio of BEE in Chile thus increases to 161 MW. The portfolio is distributed across the regions of Valparaíso, Metropolitana de Santiago, Libertador General Bernardo O’Higgins, Maule and Biobío. Thus, the projects are a fitting addition to BEE’s existing 117 MW portfolio in these regions. The four projects have been transferred ready to build and are scheduled to be commissioned by the end of 2022. Read More
| Region | Period | Rig Count | Change from Prior |
| U.S.A | 25th March 2022 | 670 | +7 |
| Canada | 25th March 2022 | 140 | -36 |
| International | February 2022 | 813 | — |
Frontera Energy Corporation announced that it has discovered 27.2 degree API light crude oil at the Tui-1 exploration well on the Perico block (Frontera 50% W.I. and operator) in Ecuador. On January 28, 2022, Frontera spud its second exploration well, called Tui-1, approx. 7 kms from the Jandaya-1 exploration well, in the southern portion of the Perico block. The Tui-1 exploration well was drilled to a total depth of 10,975 feet (3,345 metres) and encountered a total of 125 feet of net pay across seven hydrocarbon bearing reservoirs including the Hollin, Basal Tena, T and U Sandstones, and Limestones B, A and M2. After two days of initial production tests, the Basal Tena formation is producing an average of 1,200 bbls/d of 27.2 degree API light crude oil with a current water cut of 5.2%. Frontera is now preparing the required permits to move forward with a long-term test at the Tui-1 exploration well for at least six months or a longer period of time if approved by authorities. Additional appraisal activities will be conducted in the near future to confirm size and mid- to long-term production levels for the multiple potential formations. Read More
Empyrean Energy plc , the oil and gas development company with interests in China, Indonesia and the United States, is pleased to provide the following update on preparations to drill the Jade prospect at its 100% owned Block 29/11 permit, offshore China: Empyrean is the operator of Block 29/11 in China and has 100% working interest during the exploration phase. In the event of a commercial discovery, its partner, China National Offshore Oil Company (“CNOOC”), may assume a 51% participating interest in the development and production phase. Read More
Geometry, Geely Auto’s mass market electric brand offering, saw its sales grow to a record 145.3% year-on-year in 2021, helping the brand achieve a 7.43% market share in China’s A-segment EV market. This year, Geely Auto will increase investment in the development of new pure electric products and will launch more advanced fast charging long-range PHEV models, pure electric models, battery swapping models, and hybrid electric models to increase its commitment to new energy models. Read More
OilandGasPress Energy Newsbites and Analysis Roundup |Compiled by: OGP Staff, Segun Cole @oilandgaspress.
Disclaimer: News articles reported on OilAndGasPress are a reflection of what is published in the media. OilAndGasPress is not in a position to verify the accuracy of daily news articles. The materials provided are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice.
Submit a Press Release
