(Energy Analytics Institute, 30.Sep.2023) — Energy briefs as well as others related to finance and projects during September 2023 including Petrobras saying that in regards the process of divestment of the LUBNOR refinery that it continues to strictly comply w/ the purchase and sale agreement; SilverCrest Metals Inc. filing an updated independent technical report for the 100% owned Las Chispas Operation located in the State of Sonora, Mexico; Hess Corp. providing details on its gas-to-energy project in Guyana; Exmar NV issuing a letter on 22 Aug. 2023 to its shareholders, in the context of the voluntary and public takeover bid launched by Saverex NV; and more.
— Ghana launched a $550bn energy transition and investment plan for achieving net-zero emissions, creating 400,000 jobs by 2060, Sustainable Energy for All said 22 Sep. 2023 in an official stmt.
— bp entered in a third long-term LNG offtake contract from Woodfibre’s British Columbia LNG facility. Under the sale agreement, all LNG output from the Woodfibre LNG export facility is now committed for sale to bp. The Woodfibre LNG facility aims to be the world’s first net-zero LNG facility by 2027, utilizing hydro-powered, electric-driven compression, bp said 5 Sep. 2023 in an official stmt.
— The BODs of EXMAR NV approved the interim accounts for the period ending 30 June 2023. The interim condensed consolidated financial statements have not been subjected to an audit or a review by the statutory auditor.
— Exmar NV (Euronext Brussels: EXM) issued a ltr on 22 Aug. 2023 to its shareholders, in the context of the voluntary and public takeover bid launched by Saverex NV, which is open for acceptance until 15 Sep. 2023, at 4pm. The co. has been informed that the ltr may have created the impression with certain shareholders that they are under an obligation to sell. “This certainly was not the company’s intention and we therefore ask you to disregard this letter and we hereby rectify that each shareholder is free to either tender or not to tender their shares to Saverex,” Exmar said 8 Sep. 2023 in an official stmt.
— Tracy Krohn, W&T’s Chairman and CEO, is scheduled to make a presentation on 20 Sep. 2023 at noon Oslo time at the Pareto Securities’ 30th Annual Energy Conference. Senior mgmt will also host 1-on-1 meetings w/ investors during the conf., the co. W&T said 14 Sep. in an official stmt.
LATIN AMERICA AND THE CARIBBEAN
— Petrobras said 22 Sep. 2023 in an official stmt that negotiations w/ Sete Brasil are still under consideration by the co.’s competent bodies and are protected by confidentiality agreements.
— Petrobras, in regards the process of divestment of the LUBNOR refinery, continues to strictly comply w/ the purchase and sale agreement, signed between the parties on 25 May 2022, and acting to fulfill the conditions precedent until the final deadline established in the agreement, Petrobras said 1 Sep. 2023 in an official stmt.
— Guyana’s President Dr. Irfaan Ali comments on 23 Sep. 2023 in a video on the Guyana-Venezuela border controversy.
— “The U.S. supports Guyana’s sovereign right to develop its own natural resources. Efforts to infringe upon Guyana’s sovereignty are unacceptable,” Ambassador Brian A. Nichols, Assistant Secretary for Western Hemisphere Affairs, US Department of State, said 20 Sep. 2023 in a post on X, formerly Twitter. “We call on Venezuela to respect international law, including the 1899 arbitral award & the ongoing ICJ process between Guyana & Venezuela.”
— Thirty mths after a key audit of ExxonMobil’s expenditure found that it improperly listed US$214mn in expenses, the gov’t finally accepted the findings of the UK auditor and blame was shared for an apparent unauthorized attempt involving the American oil co. to slash the disputed figure to as low as US$3mn, Stabroek News reported on 16 Sep. 2023. UK firm IHS Markit had been hired to do the first ever audit of expenses of ExxonMobil and its partners for the period 1999-2017 and up to 2 Apr. 2023 the rpt was kept hidden until Stabroek News published the details. In the 6 mths that followed there were attempts by the gov’t and ExxonMobil to cut the figure but that apparently ended when the Guyana Revenue Authority (GRA) wrote a damning ltr to the Natural Resources Ministry saying that it wouldn’t challenge the US$214mn figure and recommending that the audit be closed. That ltr was also revealed by Stabroek News and appeared to have forced the gov’t to close deliberations.
— Hess Corp. provided details on its gas-to-energy project in Guyana.
— SilverCrest Metals Inc. filed on SEDAR+ the updated independent technical rpt for the 100% owned Las Chispas Operation located in the State of Sonora, Mexico. The rpt was prepared in accordance with National Instrument 43-101, the co. said 7 Sep. 2023 in an official stmt.
— Forte Minerals Corp. (CSE: CUAU) (OTQB: FOMNF) (Frankfurt: 2OA) announced that Mike Carter as its Lead Energy Advisor. Carter has an extensive background in renewable energy, which aligns seamlessly w/ Forte’s dedication as a copper and gold exploration entity in Perú. This move underscores the co.’s intent to champion an ESG framework by integrating a community-driven, environmentally conscious, and socially responsible approach to navigate the complexities of the energy transition, Forte announced 22 Sep. 2023 in an official stmt.
— Pan Global Resources Inc. (TSXV: PGZ) (OTCQX: PGZFF) announced completion of the co.’s first sustainability assessment report from Digbee ESG™, an independent assessment platform for the mining industry, the co. announced 21 Sep. 2023 in an official smt.
— Steel Dynamics, Inc.’s (NASDAQ/GS:STLD) BODs appointed Jennifer L. Hamann to the co.’s BODs. The appointment is for the balance of a 1-yr term ending May 2024 coinciding w/ the co.’s regularly held annual meeting of stockholders. Steel Dynamics announced 15 Sep. 2023 in an official stmt. Hamann, age 56, will serve as an independent director and participate as a member of the co.’s audit committee.
— The BODs of PNM Resources (NYSE: PNM) declared the regular quarterly dividend of $0.3675/shr on the co.’s common stock. The dividend is payable 10 Nov. 2023, to shareholders of record at the close of business 27 Oct. 2023, the co. said 19 Sep. 2023 in an official stmt.
— Gail Maniscalco, Senior Landman at Arena Energy, LLC was recently honored with the Landman of the Year Award by the Professional Landmen’s Association of New Orleans (PLANO). This award recognizes Gail’s long history of professional accomplishment and dedication to the Texas and Louisiana offshore Oil and Gas Industry, Arena announced 12 Sep. 2023 in an official stmt. PHOTO
— The BODs of Public Service Company of New Mexico, a subsidiary of PNM Resources (NYSE: PNM), declared the regular quarterly dividend of $1.145/shr on the 4.58% series of cumulative preferred stock. The preferred stock dividend is payable 15 Oct. 2023 to shareholders of record at the close of business 29 Sep. 2023, PNM announced 11 Sep. 2023 in an official stmt.
— The BODs of Hess Corp. (NYSE: HES) declared a regular quarterly dividend of $0.4375/shr payable on the common stock of the corp. on 29 Sep. 2023 to holders of record at the close of business on 18 Sep., the co. said 6 Sep. in an official stmt.
— W&T Offshore, Inc. (NYSE: WTI) announced the promotion of Ford A. Peters to VP of Land, the co. said 5 Sep. 2023 in an official stmt.
By Ian Silverman, Aaron Simonsky and Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.