( Oil Price) – Equinor has secured a project financing package of over $3 billion for its U.S. offshore wind project Empire Wind 1, Norway’s energy major said on Thursday. Empire Wind 1 is planned to power 500,000 New York homes and is expected to reach its commercial operation date in 2027. With a contracted capacity of 810 megawatts (MW), Empire Wind 1
Oil Price Last year, several U.S. banks threatened to leave the Glasgow Financial Alliance for Net Zero – a group led by former Bank of England governor Mark Carney, aimed at facilitating the energy transition. The reason those banks threatened to leave was that commitments related to the transition process were becoming increasingly aggressive, and they worried that those commitments might end
Oil Price The European Central Bank will not give short-term financing to European energy firms struggling through the energy crisis, sky-high prices, and margin calls on the derivatives markets, ECB President Christine Lagarde said on Friday. “As far as the ECB is concerned, and the national central banks of the Eurosystem, of course we stand ready to provide
By Tyler Losier, Energy Reporter, Oil & Gas 360 Train 1 of Sempra’s Cameron LNG project commences commercial operations Sempra LNG, a subsidiary of San Diego-based Sempra Energy (stock ticker: SRE), has begun commercial operations under tolling agreements at Train 1 of its Cameron LNG liquefaction-export project in Hackberry, Louisiana. Previously, Sempra’s Cameron LNG facility had shipped its first commissioning
Lilis Energy, Inc. (ticker: LLEX) has closed a deal to acquire approximately 2,798 net acres in the southeastern New Mexico area of the Delaware Basin. The deal was part cash ($40 million) and part stock (~6.9 million shares, or ~$25.3 million), for an approximate total of $65.3 million. “This strategic transaction enhances our overall position in the Northern Delaware Basin,
Silver Run Acquisition Corporation II will have approximately $1.042 billion in its trust account to complete the business combination of Silver Run II, Alta Mesa Holdings, LP and Kingfisher Midstream, LLC. The new company will be called Alta Mesa Resources, Inc. No redemption back-stop was required. Silver Run II CEO James T. Hackett said, “We are very pleased by the
PetroShale Inc. (ticker: PSH) has commenced drilling two (1.7 net) wells on its operated Primus unit in Antelope during the third quarter of 2017. PetroShale operates primarily in the Bakken/Three Forks play in North Dakota. As of September 2017, the company has 57-78 future net drilling locations (depending on the spacing) and approximately 4,946 net acres. The company also commenced
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