Equinor sells its US onshore assets in the Bakken

first_img Oil field in the Bakken area, North Dakota. (Credit: Einar Aslaksen / Equinor ASA) Equinor (OSE: EQNR, NYSE: EQNR) has agreed to divest its interests in the Bakken field in the US states of North Dakota and Montana to Grayson Mill Energy, backed by EnCap Investments, for a total consideration of around USD 900 million.The transaction covers all of Equinor’s operated and non-operated acreage, totalling 242,000 net acres, and associated midstream assets in the Bakken. Entitlement production from these assets in 4Q 2020 was 48,000 barrels of oil equivalent per day (net of royalty interests). In parallel with this transaction, Equinor Marketing and Trading will enter into a term purchase agreement for crude offtake with Grayson Mill Energy.“Equinor is optimising its oil and gas portfolio to strengthen profitability and make it more robust for the future. By divesting our Bakken position we are realising proceeds that can be deployed towards more competitive assets in our portfolio, enabling us to deliver increased value creation for our shareholders. Over the past few years, we have improved the safety, cost efficiency and CO2 intensity of the Bakken assets significantly and I am confident Grayson Mill Energy will continue on this path,” says Anders Opedal, president and chief executive officer of Equinor.“We are taking action to improve the profitability of Equinor’s international oil and gas business. Today’s announcement on the exit of our Bakken assets is an important step in this process. We have worked closely with Grayson Mill Energy to preserve jobs and to ensure the transfer of expertise in the best possible way,” says Al Cook, executive vice president of Development & Production International at Equinor.As part of the agreed transaction, all Equinor field employees and a significant number of the support teams working on the Bakken assets will have the opportunity to transfer to Grayson Mill Energy.The effective date of the transaction is 1 January 2021. Closing is subject to the satisfaction of customary conditions, including authority approvals. Source: Company Press Release The transaction covers all of Equinor’s operated and non-operated acreage, totalling 242,000 net acres, and associated midstream assets in the Bakkenlast_img read more

Philips 5000i Series extra-large air purifier removes up to 99.97% of allergens

first_img– Advertisement – If you’re sensitive to what’s in your air, the Philips 5000i Series extra-large air purifier is here to help. This large room air purifier effectively removes up to 99.97% of allergens. What’s more, the 5000i Series purifier actually removes particles as small as 0.3 microns. Furthermore, the dual HEPA filters clean your air of allergens, gases, bacteria, viruses, and particles. And it does all this while the sensors monitor the quality of the air you breathe. So this gadget knows when there are more allergens present—and when it’s cleaned the air of them all. The most impressive part is that it works in rooms up to 454 square feet in size. No matter where you are, you can control the Philips 5000i Series air purifier through the connected app. The purifier connects over Wi-Fi so you can monitor both indoor and outdoor air quality.last_img read more

New Fisherfolk Cooperative asked to maintain accountability

first_imgHon. Reginald Austrie.Parliamentary Representative for the Cottage Constituency Reginald Austrie has told fishermen in the north that they will be held responsibility for the financial accountability of the organization.He made the remarks while addressing the official opening of the St John’s Fisher folks Cooperative in Portsmouth on Wednesday.According to Austrie, while government will seek to empower communities, a certain level of professionalism and accountability must be recognized.“We have a record of empowering other cooperatives but you have to show a certain level of responsibility and accountability. Sometimes when we hear about accountability people think it’s just about government ministers but that’s not the case. Every one of us must be accountable at some point in our lives”.He said further; “You know what happens when we don’t account”. Austrie admonished the Cooperative to work as a team despite the challenges which they may be faced with. “When trouble comes you have to hold on, you have to keep it together, you have to work as a team in order to make this thing work”.He said politics and religion should be no part of the operations of the organization.“This is not a church or a political platform. All views have to contend, all people of all colors have to speak freely here. If you let politics and religion form part of this organization it will fall apart,” he cautioned.Dominica Vibes News 16 Views   no discussions Sharing is caring! Share LocalNews New Fisherfolk Cooperative asked to maintain accountability by: – March 24, 2012center_img Share Share Tweetlast_img read more