From a milestone at Atlanta Phase 1 to new contracts, below is a compilation of the latest headlines in the E&P space.
Activity headlines
Atlanta Phase 1 Milestone Reached
Enauta Participações SA said Feb. 5 that it had reached milestones on its Atlanta Phase 1 project offshore Brazil in January.
The early system is fully producing, with three wells in operation averaging more than 21,000 boe/d.
On Jan. 21, the first subsea multiphase pumping system (MPP), manufactured by OneSubsea, was loaded in Norway bound for Brazil. The MPP will be installed to support Atlanta’s oil and gas production and its on-scheduled delivery highlighted one of the key challenges to reach the FPSO Atlanta’s first oil schedule by August 2024.
Contracts and company news
Saipem Reports Castarone Incident
Saipem reported an early morning Jan. 30 incident on the Castorone pipelay vessel off the waters of Australia during normal pipelay operations.
Saipem said there were no injuries. Saipem said the vessel didn’t sustain major damage but reported localized damage to the trunkline. Saipem said the damage will be remediated.
In a follow-up release, Saipem said a buckle occurred while laying pipeline. An initial investigation indicated a software anomaly could be the cause.
Titania Jackup Wins Work offshore Mexico
Paratus Energy Services Ltd. announced Feb. 1 that SeaMex Holdings Ltd. and related subsidiaries won a one-year contract for the Titania jackup in Mexico from an unnamed customer.
The new contract will contribute approximately $55 million in backlog and is expected to begin in mid-February 2024.
TGS, SLB for GoM OBN Acquisition
TGS, in collaboration with SLB, announced on Feb. 5 the Engagement 5 Ocean Bottom Node (OBN) multi-client acquisition in the U.S. Gulf of Mexico.
The seventh program within the seismic joint venture involves the acquisition of 157 Outer Continental Shelf blocks covering 3,650 sq km through a long offset, sparse OBN survey that will start in the first quarter of 2024.
The expansion of data coverage in the eastern region of Green Canyon will adjoin with prior phases, establishing a continuous coverage area spanning over 23,000 sq km from the Mississippi Canyon area in the east to the Garden Banks area in the west.
The project is supported by industry funding.
Recommended Reading
Green Swan Seeks US Financing for Global Decarbonization Projects
2024-02-21 - Green Swan, an investment platform seeking to provide capital to countries signed on to the Paris Agreement, is courting U.S. investors to fund decarbonization projects in countries including Iran and Venezuela, its executives told Hart Energy.
BP Pursues ‘25-by-‘25’ Target to Amp Up LNG Production
2024-02-15 - BP wants to boost its LNG portfolio to 25 mtpa by 2025 under a plan dubbed “25-by-25,” upping its portfolio by 9% compared to 2023, CEO Murray Auchincloss said during the company’s webcast with analysts.
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
M4E Lithium Closes Funding for Brazilian Lithium Exploration
2024-03-15 - M4E’s financing package includes an equity investment, a royalty purchase and an option for a strategic offtake agreement.