Weekly HEG Global Energy Digest

Oil:

Rock Rose Energy buys Marathon Oil Uk assets in €107m Deal.

RockRose Energy has signed a share purchase agreement to buy Marathon Oil UK’s (MOUK) assets as part of a deal worth £107 million.

The sale gives RockRose 37% to 40% operated interest in fields in the Greater Brae Area, a 28% stake in the BP-operated Foinaven field and 47% of Foinaven East.

 

Output from the assets is expected to average around 13,000 barrels of oil equivalent per day (boepd) this year, bringing the company’s estimated total to 24,000 boepd.

 

The acquisition represents a complete country exit for Marathon Oil Corporation, which is headquartered in Texas, US.

Article Source:https://www.energymarketprice.com/energy-news/rockrose-energy-buys-marathon-oil-uk-assets-in-?107m-deal

 

Wind:

Scottish Power pledges €2bn for UK renewable energy in 2019

ScottishPower has pledged to invest up to £2 billion in renewable energy projects in the UK this year.

It is said to be the Big Six supplier’s biggest ever investment in the country in a single year and follows its commitment to transition to 100% renewable energy.

 

The company is to spend £6 billion in total in the UK between 2018 and 2022, out of which 40% will be invested in renewable generation, 42% on smarter networks and 15% on innovative services and products for consumers.

 

Part of ScottishPower’s plans also include the installation of fast chargers “at strategic commercial locations” from winter 2019, a 50MW battery storage unit at the UK’s largest onshore wind farm, Whitelee, the first of a series of storage projects mainly as well as a 1GW pipeline of onshore wind farms by 2025.

Article Source: https://www.energymarketprice.com/energy-news/scottishpower-pledges-?2bn-for-uk-renewable-energy-in-2019

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