ConocoPhillips has exercised its pre-emption right, resulting in the acquisition of the 50% interest in the Surmont oil sands project previously held by TotalEnergies EP Canada Ltd. This development follows the sale of all securities of TotalEnergies EP Canada Ltd to Suncor Energy Inc. on 27 April 2023. As a part of the transaction, TotalEnergies […]
ConocoPhillips has announced its intention to exercise its preemption right to purchase the remaining 50% stake in the Surmont oil sands project from TotalEnergies EP Canada. The consideration for the stake is at around $3 billion, and ConocoPhillips will also make contingent payments of up to approximately $325 million over a five-year period. The Surmont […]
Norwegian state-owned multinational energy company Equinor through its subsidiary Equinor UK will acquire the UK assets of Canada’s Suncor Energy for $850 million, to optimize its oil and gas portfolio and increase its presence in the UK market. With proposed transaction, Equinor will add around 15,000 barrels of oil equivalent a day in equity share […]
Neptune Energy has been granted a drilling permit from the Norwegian Petroleum Directorate (NPD) for drilling well 6406/12-G-1 H in production licence 586 (PL 586) in the Norwegian Sea. The wildcat well will be drilled by using the West Phoenix drilling facility once it wraps up the drilling of observation well 6406/12-H-4 for Neptune Energy […]
Suncor Energy said that it will invest CAD 1.4 billion on the 800MW Coke Boiler Replacement Project to power its Oil Sands Base Plant, located 25km north of Fort McMurray in Alberta, Canada. As part of the Coke Boiler Replacement Project, the Canadian energy company will build two new cogeneration units to replace three old […]