Daily Archives: October 18, 2012
Black Elk Energy Offshore Operations, LLC, an independent oil and gas company, announced yesterday their Board of Managers has approved a 23 well capital campaign that will begin monetizing the companies “proved undeveloped reserve” inventory.
Black Elk Energy plans to begin drilling and major rig work on the first of the 23 wells beginning in November of 2012. The program’s development costs are projected below $12/boe. The launch of this development program will mark the beginning of a multiple year project.
“We are excited to expand our strategic focus to include development drilling”, says John Hoffman, President and Chief Executive Officer. “We celebrated our five year anniversary this month and we are well prepared to begin an ongoing development campaign with our team of experienced professionals. I’m proud of our accomplishments and external recognitions such as ‘best places to work’, ‘top workplaces’ and the recent ‘INC 500 fastest growing companies in the U.S’. We will continue to strategically acquire assets that fit our specific criteria and look forward to another exciting year in 2013. I know that our team is well-equipped for a successful road ahead.”
In her right element, the compact 106.5 m long and 24.5 m wide vessel looks very impressive.
The SX148 design will carry out a multitude of diverse tasks for Statoil, including inspection, maintenance and repair of subsea oil installations, alongside scale treatment and RFO operations. The top speed is 16 knots. The ship has a crew capacity of 90, and capacity to carry a litany of essential subsea tools, thanks to a clever configuration whereby hull space is maximised and equipment is integrated within the large hangar area.
HSE has been a major focus for the project partners, this includes a customized module handling system (MHS) integrated in the ship’s hangar for the safe launch and retrieval of subsea modules weighing up to 70 tons.
All operational personnel are gathered in one area directly above the hangar, with panoramic windows in the control room giving a full overview of this key activity area. Also, the ship has been developed to meet the highest working environment standards. She is a comfort class COMF-V (3) vessel, with low noise and vibration levels. The ship also carries the Clean Design notation.
Environmental initiatives have been taken, including the diesel electric propulsion, which reduces atmospheric emissions, while the ship’s electrical winches mean there will be absolutely zero emissions of hydraulic oil.
Excelerate Liquefaction Solutions (ELS), a wholly-owned subsidiary of Excelerate Energy, has filed an application at the U.S. DOE to export up to 10 MTPA (approximately 1.33 Bcf/d) for a 20-year period.
ELS is seeking authorization to export LNG from the proposed Excelerate Liquefaction Project to be located in Calhoun County, Texas to any country with which the United States of America does not now, or during the term of the license requested will not, have a Free Trade Agreement (FTA) requiring the national treatment for trade in natural gas; that has, or in the future develops, the capacity to import LNG; and with which trade is not prohibited by U.S. law or policy.
This application represents the second part of ELS’s two-part export authorization request. On May 25, 2012, ELS filed in DOE/FE Docket No. 12-61-LNG its application requesting long-term, multi-contract authorization to export up to 10 MTPA of domestically produced LNG for a 20-year period commencing the earlier of the date of first export or seven years from the date authorization is granted by DOE/FE.
ELS requested that such long-term authorization provide for export to any country with which the U.S. currently has, or in the future may enter into, a FTA requiring national treatment for trade in natural gas, and which has, or in the future develops, the capacity to import LNG.
ELS requested authorization to export LNG on its own behalf and also as agent for other parties who hold title to the LNG at the time of export. DOE/FE granted this authorization to ELS in Order No. 3128.
If, in addition, this application for authorization to export to non-FTA Countries is granted, the combined effect of the DOE/FE Order addressing this Application and Order No. 3128 will be to authorize ELS to export up to 10 MPTA (equivalent to approximately 1.33 Bcf/d or approximately 502 million MMBtu per year) of domestic natural gas as LNG to any country with which trade is not prohibited by U.S. law or policy.
As such, grant of this application would not increase the total amount of natural gas that ELS would be entitled to export, it would only broaden the range of countries to which such natural gas could be exported.
- Trouble in China for U.S. LNG Exports? (investorplace.com)