ConocoPhillips has completed its acquisition of Shell’s prolific Delaware basin position in the US for $9.5 billion in cash.
ConocoPhillips has completed its acquisition of Shell’s prolific Delaware basin position in the US for $9.5 billion in cash. The assets include ~225,000 net acres and producing properties located entirely in Texas, as well as more than 600 miles of operated crude, gas and water pipelines and infrastructure.
A group of trade bodies representing the five countries across Europe pioneering lower carbon oil and gas in the North Sea have signed an agreement to work together to advance the transition to net zero emissions. The UK, Denmark, Norway, the Netherlands and Germany will host an annual summit to share progress to cut industry emissions and develop technologies which could be critical in helping other sectors reduce emissions.
ConocoPhillips is planning 2022 capital expenditures of $7.2 billion. The figure includes a $200 million investment in Scope 1 and 2 emissions-reduction projects across the company’s global operations and investments in several early stage low carbon technology opportunities to address end-use emissions. Planned expenditures include production efficiency measures, methane and flaring intensity-reduction initiatives and investments in CCUS and hydrogen.
Chevron has announced a 2022 organic capital and exploratory spending programme of $15 billion, at the low end of its $15 to $17 billion guidance range and up more than 20% from 2021 expected levels.
Storegga has entered into an agreement with Sval Energi to explore joint business opportunities for carbon storage on the Norwegian Continental Shelf, including bidding for storage licences.
In a story in our October issue about 45-8 Energy, CVA and Avenia forming the Earth2 initiative to promote the role of subsurface hydrogen (both natural hydrogen and storage) in the energy transition, we referred to 45-8 Energy as 8-Energy. We are happy to put the record straight.
