FAR Ltd (FAR) is entertaining a take-over offer from Remus Horizons PCC Limited (Remus) at the same time as proceeding with the sale of its entire 13.67% interest in the Rufisque, Sangomar, and Sangomar Deep Offshore Blocks, Senegal (Sangomar) to Woodside Energy (Senegal) BV (Woodside). In December 2020, Remus, a private investment fund, submitted a…
Following Cairn Energy PLC’s (Cairn) sale of its interest in Sangomar, eventually to Woodside Petroleum Limited (Woodside), FAR Ltd (FAR) announced a deal to sell its stake at a 30 to 60% discount to what Cairn achieved on a 2P basis. The range of outcomes is linked to contingent payments related to oil volume and…
Beating FAR Ltd (FAR) to the door, is its Sangomar partner, Cairn Energy PLC (Cairn), who is selling its 40% interest in the Rufisque Offshore, Sangomar Offshore and Sangomar Deep Offshore (RSSD) Contract Area to LUKOIL for: Cash consideration of US$300M Reimbursement of development CAPEX incurred since 1st January 2020, estimated at US$330M Further contingent…
Over the last 15 years in particular, several offshore Western Australian & Timor Sea crude oil producing facilities have been decommissioned and abandoned, or shut in with the intent of abandonment. Some of the fields associated with these shut in facilities are represented in the table below. Were these fields shut in prematurely, or could…
With three Perth Basin deals announced in recent weeks, is this the start of consolidation in a basin of fragmented ownership? At the recent Good Oil Conference, Jeff Schrull, Beach Energy’s (ASX:BPT) Group Executive for Exploration & Development, presented the Perth Basin as one of Beach’s five key hubs. Beach is preparing for Beharra Springs…