Premier Oil is looking for a farm-out partner for its Sea Lion offshore oil development in the Falklands Islands. Sea Lion project artist renderingThe UK-based oil firm is operating the project with a 60 percent stake, with the remaining 40 percent currently held by Rockhopper exploration.The company has been in talks to secure a loan to fund the development of the first phase of the 250 mmboe (gross) of resource in Phase 1 of the Sea Lion project.In an update on Thursday, Premier reminded that it had recently signed a memorandum that might lead to the loan, adding it has also started a Sea Lion stake farm-down process, ahead of a final investment decision.Loan feedback in Q4“Premier has launched a formal farm-down process of its 60 per cent operated interest in Sea Lion to optimize its level of participation in the project,” the company said, adding that securing the financing for the project was the critical path to the Sea Lion sanction.“The project is now in a period of lender due diligence which will entail, among other items, finalizing the term sheets with potential senior lenders,” Premier Oil.“Sea Lion Phase 1 will develop 250 mmbbls (gross) resources in PL032 (Premier 60 per cent operated interest), using a conventional FPSO based scheme, similar to Premier’s successful Catcher development. The project is at a mature stage of definition and has been substantially de-risked from a technical, cost and schedule perspective,” Premier said.Premier’s partner Rockhopper on Thursday said that capex to first oil is estimated at approximately US$1.8 billion (gross). Furthermore, Rockhoppers said that key service and supply contracts were nearing final agreement in preparation for execution at Project sanction. Sam Moody, CEO of Rockhopper, commented: “The Project continues to build momentum with significant progress being made across key areas, all with the aim of moving into the execution phase post sanction. The PIM submission in late July has kicked off the formal application process for the senior debt financing guarantees for which we expect initial feedback in Q4 2019.” Offshore Energy Today StaffSpotted a typo? Have something more to add to the story? Maybe a nice photo? Contact our editorial team via email. Also, if you’re interested in showcasing your company, product or technology on Offshore Energy Today, please contact us via our advertising form where you can also see our media kit.
Facebook Twitter Google+ Published on November 9, 2017 at 5:07 pm Contact Matthew: [email protected] | @MatthewGut21 Syracuse (4-5, 2-3 Atlantic Coast) kicks off against Wake Forest (5-4, 2-3) on Saturday at 3 p.m. The Orange, two wins away from ensuring bowl eligibility, lost at WFU, 28-9, a year ago. The Demon Deacons are coming off of an 11-point loss at No. 3 Notre Dame last week, while SU nearly beat Florida State on the road.The Daily Orange spoke with the Winston-Salem Journal’s Conor O’Neill, who covers the Demon Deacons.The Daily Orange: Wake Forest has turned a lot of heads this season. What’s fueling that success?Conor O’Neill: Wake Forest’s surge this season has been led by its offense and the emergence of playmakers, really for the first time in Dave Clawson’s four years as coach. Greg Dortch was fantastic for the first eight games before season-ending surgery, but he’s hardly the only standout. Scotty Washington, a 6-foot-5 receiver, is becoming a consistent threat. Running back Matt Colburn II has run for 100-plus yards in back-to-back games. And quarterback John Wolford has the highest passer efficiency rate in the ACC (161.2), with 17 touchdowns and three interceptions.The D.O.: Syracuse head coach Dino Babers pointed out the strengths of WFU’s offense, especially quarterback John Wolford and the passing game. Why has that been so effective?AdvertisementThis is placeholder textC.O.: The Deacons have implemented a heavy dose of run-pass option plays, and Wolford rarely makes a wrong decision operating them. The other part is that Wolford finally has an offensive line that can protect him and receivers that can make plays on the ball. For the past three seasons, there hasn’t been much of either of those.The D.O.: Where is Wake Forest most vulnerable?C.O.: Coming off a game in which its defense surrendered seven full football fields of offense, Wake Forest’s defense seems pretty vulnerable at the moment. Notre Dame exposed it. The Irish rushing for 380 wasn’t a shock, that’s only 64 more than they were averaging entering the game. But Notre Dame racked up 330 passing yards, 200 more than its season average. Given Syracuse’s receiver duo, that bodes well for the Orange.The D.O.: Is there a lesser-known player for WFU that Syracuse fans should watch out for?C.O.: I’d love to put Alex Bachman here, a backup receiver, but he had eight catches for 116 yards and a touchdown at Notre Dame. One glance at last week’s box score makes him a known weapon. So I’ll tell you to watch for Ja’Cquez Williams, the backup rover — Wake Forest’s hybrid linebacker/safety position. He’s seen extended playing time lately and has made an impact in coverage and stopping the run.The D.O.: How do you think the game will unfold Saturday and who wins?C.O.: I think there will be a ton of points scored and this game comes down to the wire. Turnovers and special teams could change that — Wake Forest has taken care of the ball, doesn’t commit many turnovers but has left a lot to be desired in special teams. But if those are relatively even, I think Wake Forest wins in a shootout. Comments
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The prominent Guyanese law firm of Hughes, Fields and Stoby has opened a law office in the United States oil capital, Houston, Texas, to tap into opportunities in the oil and gas sector.Hughes, Fields and Stoby’s American partner Greg Clark speaking at the launch of the Hughes, Fields and Stoby USA PLLC in Houston, Texas at the Guyana Marriott HotelAmong the services that will be provided to oil and gas companies operating in Guyana, or planning to do so, are incorporations; labour advice; investment advice; provision of webinars on doing business in Guyana; expatriate orientation, and direct business-to-Government contact.The Department of Public Information (DPI) reported that clients would also have access to the publication of a high quality, well-researched e-magazine titled ‘Guyana Oil and Gas Report’ that would provide all subscribers with critical information to guide their investment decisions.The launch of the Hughes, Fields and Stoby USA PLLC in Houston, Texas, took place last evening at the Marriott Hotel in Kingston, Georgetown.Managing Partner of the law firm, Attorney-at-Law Nigel Hughes, explained that long before a potential investor even arrives in Guyana, the law offices of Hughes, Fields and Stoby would be on hand in Houston to guide clients and potential clients through what will be a complex process of establishing business relationships in Guyana.“From legal representation right through to assistance with the appropriate business protocols and linkage to a network of officials in the public and private sectors, a client’s every need is attended to in ensuring the doors to doing business in Guyana are easily and readily open,” Hughes said.Hughes noted that the Houston operation affords the firm an opportunity to present a new image of Guyana as the preferred destination for investment in the oil and gas industry.“We, collectively, all of us Guyanese, get an opportunity to positively change the image of our dear Guyana. It is not often that the horizons of a country can change so dramatically in a positive sense overnight,” he said.The law firm’s American partner, Greg Clark, will lead the Hughes, Fields and Stoby team in Texas. Clark is a former US Marine who had also worked for oil and gas companies ExxonMobil and Occidental Petroleum.Clark commended the law firm for abiding by required ethical standards and having an impeccable reputation. He said the goal is to expedite and encourage the coming to Guyana of not only additional oil companies or oil-related service companies, but hopefully the firm can be the portal for new industries, new companies coming to Texas beyond the oil and gas sector.“I like to call it ‘legislative watchman’, that the firm will keep their eyes out for every law, rule, regulation or policy that could impact our clients,” Clark explained. He said the firm will provide a draft of that document, along with a memorandum summarising the potential impact that new legislation can have on the company.Hughes, Fields & Stoby, in partnership with Access Point, is the first local legal and business protocol firm to establish a presence in Houston, Texas in recognition of the emerging important relationship between the American energy capital and Guyana, as an emerging energy powerhouse.Also attending last evening’s event were the Minister of Public Telecommunications, Catherine Hughes, wife of Attorney-at-Law Nigel Hughes; and Minister of Business, Dominic Gaskin; Public Infrastructure Minister David Patterson; Head of the Department of Energy, Dr. Mark Bynoe; United States (US) Ambassador to Guyana, Perry Holloway; other members of the diplomatic corps, and members of the private sector.