PNOC Exploration Company (PNOC-EC) has expressed an interest in farming into Service Contract 55 in the Palawan Basin in the Philippines for a 15% working interest, Otto Energy Ltd. said in a press release.
The commercial terms of the farm-in have been agreed and will be finalized in a farm-in agreement to be entered into by Otto and PNOC-EC. The farm-in is only subject to approval by the Office of the President of the Philippines.
In addition to PNOC-EC, Otto continues to engage with other potential farm-in partners in the lead up to the drilling of the Hawkeye-1 exploration well, which is anticipated to take place during third-quarter 2015.
Recommended Reading
Solar Panel Tariff, AD/CVD Speculation No Concern for NextEra
2024-04-24 - NextEra Energy CEO John Ketchum addressed speculation regarding solar panel tariffs and antidumping and countervailing duties on its latest earnings call.
NextEra Energy Dials Up Solar as Power Demand Grows
2024-04-23 - NextEra’s renewable energy arm added about 2,765 megawatts to its backlog in first-quarter 2024, marking its second-best quarter for renewables — and the best for solar and storage origination.
BCCK, Vision RNG Enter Clean Energy Partnership
2024-04-23 - BCCK will deliver two of its NiTech Single Tower Nitrogen Rejection Units (NRU) and amine systems to Vision RNG’s landfill gas processing sites in Seneca and Perry counties, Ohio.
Clean Energy Begins Operations at South Dakota RNG Facility
2024-04-23 - Clean Energy Fuels’ $26 million South Dakota RNG facility will supply fuel to commercial users such as UPS and Amazon.