RockRose Energy Acquires Marathon Oil
U.K.-based oil and gas firm RockRose Energy has signed a share purchase agreement to acquire 100% of Marathon Oil UK (MOUK), and 100% of Marathon Oil West of Shetland (MOWOS), from subsidiaries of Marathon Oil Corporation.London-headquartered RockRose will pay $140 million (subject to customary adjustments) for the assets, while also taking on the decommissioning liabilities.MOUK holds a 37-40% operated interest in fields in the Greater Brae Area, and MOWOS holds a 28% interest in the BP PLC-operated Foinaven field unit and 47% in Foinaven East.
Intertek Approved as a Certification Body and Test Laboratory
Intertek, a total quality assurance provider to industries worldwide, is now an approved International Electrotechnical Commission Explosive (IECEx) Certification Body and Test laboratory and can provide global third party approval on non-electrical equipment for use in hazardous areas. This will give confidence to the global petroleum, chemical and pharmaceuticals, and food industries in the safety of the non-electrical equipment on their sites.
Maersk Sells North Sea Stakes to RockRose
Maersk Oil, a unit of Danish conglomerate A.P. Moller-Maersk, has agreed to sell stakes in three North Sea fields to RockRose Energy, the latest new entrant into the ageing basin. RockRose suspended trading on Wednesday before announcing it has agreed non-binding headline terms and a period of exclusivity from Maersk Oil North Sea UK to acquire its non-operated 7.4 percent interest in the Wytch Farm field, a 5.2 percent interest in the Scott fields and a 2.4 percent interest in the Telford field.
IGas CEO Austin Steps Down
Britain's largest shale gas developer IGas said on Friday that its chief executive Andrew Austin is to step down, following the completion of a deal with Swiss chemicals group Ineos. Austin, who has been at IGas for more than ten years, said chief financial officer Stephen Bowler would take on his role as CEO. A search for Bowler's replacement has already started. (Reporting by Li-mei Hoang
IGas Strikes Shale Deal with Ineos
Britain's largest shale gas developer IGas has signed a 30 million pound ($45 million) shale gas deal with Switzerland's Ineos which gives the latter access to shale sites outside of Scotland and brings IGas another partner to fund its projects. As well as a 30 million payment, Ineos has committed to covering investments of 138 million pounds for developing various shale gas fields across the England, giving IGas access to additional cash to bring shale gas wells on stream.
UK to Ease Fracking Rules as Huge Reserves Emerge
Proposal allows drilling without landowners' permission; billions of barrels of oil under rock formations in south. Huge shale gas finds in north have fuelled fracking boom. Britain plans to ease rules on accessing shale oil and gas, including drilling without landowners' permission, a move that coincides with a government report suggesting billions of barrels of shale oil may lie underneath southern England. As the country's North Sea reserves dwindle, hopes are that shale oil and gas will take its place and reduce dependence on imported fuel.
“Shale Gas Needed to Reduce UK Gas Imports”
Speakers set to fuel energy debate at Unconventional Gas Aberdeen 2014. Leading figures from industry and government speaking at Unconventional Gas Aberdeen 2014 will tomorrow highlight the impact U.K. shale development could have on reducing costly gas imports but admit that more needs to be done to reassure communities on aspects such as fracking. With more than 50 percent of U.K. gas supplies now coming from imports, predominantly from Norway and the Middle East…
Shale Gas Tech on Display in Aberdeen
New technologies designed to support the development of shale gas reservoirs in the U.K. will be on display at Unconventional Gas Aberdeen 2014 this month. Major service companies Schlumberger and Halliburton are among the exhibitors that will be showcasing technologies focused on direction drilling, reservoir characterization, cementing and stimulation at Aberdeen Exhibition and Conference Centre on 25 and 26 March. The equipment on show tackles a range of issues including well placement…
UK Operators to Reveal Activity in Unconventionals
Key players in U.K. unconventional oil and gas extraction will come together to share their insight and current developments with delegates at Unconventional Gas Aberdeen 2014. Among the operators speaking at the event are Dr Harry Bradbury, CEO of Five-Quarter, Andrew Austin, CEO of IGas, and Douglas Bain, UK Country Manager at Dart Energy. They will discuss tapping the unconventional resource in the UK region and the challenges and opportunities this presents.
Shale Development to Dominate Agenda in Aberdeen
Global stakeholders in the unconventional arena will meet March 25-26, 2014 to identify and overcome the barriers to unconventional gas developments at the third Unconventional Gas Aberdeen conference and exhibition at the Aberdeen Exhibition and Conference Center in Aberdeen, Scotland. The event will bring together expertise from operators, suppliers, government and academia from around the world. There will be presentations by speakers, discussion sessions, and an academic showcase dedicated to the work of the next generation of experts in this field.
