News Feeds | ecology.iww.org (2024)

The 123rd Christmas Bird Count in Georgia

Audubon Society - Thu, 01/18/2024 - 17:40

With 27 of the 30 state counts held for the 123rd CBC season, most were finally able to be run more or less “normally” (i.e. pre-Covid). The three counts not held for various reasons were...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Florida

Audubon Society - Thu, 01/18/2024 - 17:36

During the 123rd season, a record 83 Christmas Bird Counts were conducted in Florida. The Big Cypress and Dry Tortugas N.P. counts were not run, while new CBCs were established at Dinner Island...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Colorado

Audubon Society - Thu, 01/18/2024 - 17:32

Fifty-one Christmas Bird Counts were held this season in Colorado. A total of 197 countable species of birds were found, plus four others for count week only (Black Scoter, Gunnison Sage-Grouse...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Alabama and Mississippi

Audubon Society - Thu, 01/18/2024 - 17:29

The trend of decreasing numbers of ducks, sparrows, and some other passerines continued in both Alabama and Mississippi, but there were changes in distributional patterns. Most circles had reduced...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Saskatchewan

Audubon Society - Thu, 01/18/2024 - 17:27

A total of 39 circles in Saskatchewan reported, a slight increase of two areas compared with 2021-22.Weather conditions on this year’s Christmas bird count averaged warmer, with less wind...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Quebec

Audubon Society - Thu, 01/18/2024 - 17:24

The 123rd Christmas Bird Count (CBC) was interesting in Quebec again this year, although there were seven species less than the average of the last five counts. A total of 129 species, plus two...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Ontario

Audubon Society - Thu, 01/18/2024 - 17:22

After two years of Covid-impacted counts, year 123 was close to a return to “normal” for Ontario Christmas Bird Counts. We had four counts back that missed year 122 but six counts went the other...

Categories: G3. Big Green

The 123rd Christmas Bird Count in Manitoba

Audubon Society - Thu, 01/18/2024 - 17:20

There were 20 counts held across the province this year, with the loss of Brandon, and a new count at East Braintree. The weather was not mentioned by compilers as a factor.As usual...

Categories: G3. Big Green

The Red Nation Podcast #Throwback

The Red Nation - Thu, 01/18/2024 - 17:13

Jan 18, 2023 – Ex-FBI Agent breaks the silence on Leonard Peltier and COINTELPRO w/ Coleen Rowley

The first FBI agent close to the Leonard Peltier case is calling for his freedom. Coleen Rowley recounts, in this wide-ranging and exclusive interview, her time as an agent in the Minneapolis field office. For nearly 50 years, the FBI has indoctrinated its agents on a specific version of events that led to Leonard Peltier’s arrest, conviction, and imprisonment. The mentality then, Rowley argues, is little different than the mentality today. That’s why she decided to break the silence and is calling on President Joe Biden to grant Leonard Peltier executive clemency.

Rowley gives us an insider’s view of the FBI and how the dark and violent history of COINTELPRO, which targeted civil rights leaders like Martin Luther King Jr. and social movements like the Black Panthers and AIM, didn’t end in 1971. It morphed and evolved over the years and continued well into the U.S. war on terror. Despite attempts at reform and accountability, the FBI continues its ongoing persecution of political prisoners like Leonard Peltier and the unarmed Water Protectors at Standing Rock.

This is a preview of a longer conversation. Watch the entirety through thevideo editionon The Red Nation Podcast YouTube channel or subscribe toPatreonfor as little as $2 to listen to the audio.

Find out more:whoisleonardpeltier.info

The Red Nation Podcast is sustained by comrades and supporters like you, power our work here: www.patreon.com/redmediapr

Listen on Spotify, SoundCloud, Apple Podcasts. Listen and Download for free on Libsyn:https://directory.libsyn.com/episode/index/id/25645620

The post The Red Nation Podcast #Throwback appeared first on The Red Nation.

Categories: B3. EcoSocialism

The 123rd Christmas Bird Count in British Columbia

Audubon Society - Thu, 01/18/2024 - 16:26

A total of 87 Christmas Bird Counts in British Columbia (BC) submitted data for the 123rd (2022-23) count. The most day counts took place on Saturday, December 17th (19), followed by Sunday, December...

Categories: G3. Big Green

Solar farms face “large, unpredictable” revenue swings as marginal loss factors strike again

Renew Economy - Thu, 01/18/2024 - 16:08

Clean Energy Investor Group warns solar projects in parts of NSW and Victoria face big hits to revenue, as "old issues around MLFs come back to haunt the industry."

The post Solar farms face “large, unpredictable” revenue swings as marginal loss factors strike again appeared first on RenewEconomy.

Categories:

Hunger Strike at Red Onion Prison Continues; Rashid Johnson Continues Fight

It's Going Down - Thu, 01/18/2024 - 15:35

Hunger strike at Red Onion prison in so-called Virginia continues. For more information, go here.

Update from Rashid’s support committee, dated January 16th:

I was able to speak to Rashid and actually hear his voice today. There are roughly thirty or more prisoners who are striking now. He’s missed 63 meals and lost close to 30 lbs since 12/26/2023 when the strike began but he’s determined to keep this up until he is released from solitary and transferred out of Red Onion. He was happy and encouraged to hear about all of the support he and the other strikers are receiving out here.

He needs to be moved somewhere near a major medical facility so that he can resume treatment for his health conditions. He is asking that calls and emails continue to be made to the VADOC and to Gov. Youngkin’s office. If you could make calls on Thursday that would be greatly appreciated. Perhaps, we could all really push to make a deluge of calls on that day as well to overwhelm VADOC and show them just how many people are paying attention to what they are allowing to take place there at ROSP.

Update from Rashid’s support committee, dated January 15th:

I heard from Rashid this afternoon and he has asked me to pass along this info. He was rushed to the emergency room on 01/04/2024 and is still in the medical wing of Red Onion. It is unclear what occurred prior to his being taken out to the hospital or what treatment he may have received while there. He was shouting all of this information through a vent while a third party relayed it into the phone to me. He asks that calls and emails continue to happen to the VADOC and Governer’s office pushing for a transfer back to anywhere that has a medical center that can address his health concerns.

I actually called Red Onion today to check to see what they would tell me about his current condition since Rashid has signed a release of information listing me as his point of contact. I spoke with an Officer Vilbrandt who pretended that he did not know of Rashid or that he is currently on a hungerstrike. He then told me that he would not tell me anything about Rashid or his condition. When I gave him my name and told him that Rashid had signed paperwork granting ROSP to release information to me, he told me that I would need to speak with the warden’s secretary who would not be back in the office until Wednesday, 01.17.2024. I plan to call back on this date and will update everyone then.

Please keep calling and emailing the VA Department of Corrections and the governor’s office. I can’t stress enough how important this is. Thank you all!

During the strike, it is being asked that supporters contact the Virginia Department of Corrections as well as the governor of VA to demand an end to this controversial practice. We also need to let them know that the hunger strikers have our full support. The contact info is as follows:

VADOC: Central Administration; USPS P.O. Box 26963; Richmond, VA 23261

David Robinson Phone: 804-887-8078, Email: david.robinson@vadoc.virginia.gov

Virginia DOC Director, Chadwick S Dotson, Phone: (804) 674-3081 Email: Chadwick.Dotson@vadoc.virginia.gov

VADOC Central Administration

Rose L. Durbin, Phone: 804-887-7921, Email: Rose.Durbin@vadoc.virgina.gov

Beth Cabell, Division of Institutions

Phone: 804-834-9967 Email: beth.cabell@vadoc.virginia.gov

Gov. Glenn Youngkin

Phone: 804-786-2211 Email:glenn.youngkin@governor.virginia.gov

Photo by Lars Dunker on Unsplash

Categories: D1. Anarchism

Camino Rojo drill results suggest longer life for Orla mine

Mining.Com - Thu, 01/18/2024 - 14:38

Results from near-pit exploration at Orla Mining’s (TSX: OLA) Camino Rojo gold mine in Mexico show strong potential for expanding resources and ultimately extending the current 10-year mine life, the company said Thursday.

The successful drilling program in the proposed layback area near the open pit mine demonstrates the potential to replenish some of the mine’s diminished gold by integrating additional surface oxide gold found nearby, Sylvain Guerard, Orla’s senior vice president, said in a news release.

Located north of the Camino Rojo mine, drilling in this area has confirmed historical results, showing consistent grade along the property boundary. Highlights include 1.09 grams gold per tonne over 21 metres to the west and 0.85 gram gold over 76 metres to the east.

The drilling beneath the current open pit has unveiled structurally controlled oxide mineralization about 50 metres below and 15 metres southeast of the current pit boundaries. Notable results here include 1.16 grams gold per tonne over 67.1 metres and 0.86 grams gold over 35.1 metres.

Earlier this week, Orla reported record production of 121,877 oz. gold from the mine in 2023, slightly above guidance of 110,000-120,000 ounces. It expects to produce 110,000-120,000 oz. from the mine this year at an all-in sustaining cost of $875-$975 per ounce. It has not yet disclosed the all-in sustaining cost figures for 2023 and is scheduled to release its fourth-quarter results on March 20.

The drill results are part of a 6,500-metre program Orla completed at Camino Rojo last year to explore for additional oxide mineralization. This included 2,500 metres in the adjacent Fresnillo property, or ‘Layback Area,’ and 4,000 metres targeting deeper oxide gold mineralization extensions beyond the current open pit.

Orla has secured a layback agreement with Fresnillo, allowing it to expand the Camino Rojo oxide pit into Fresnillo’s adjoining concession. This deal not only allows Orla to mine significant additional oxide and transitional heap leachable resources but also preserves Fresnillo’s rights to the future development of the sulphide resource. The deal is expected to notably increase Orla’s mineral reserves and enhance the mine’s value without requiring changes to the current infrastructure.

These results pave the way for the 2024 near-mine drill program, which is still being finalized.

BMO Capital Market mining analyst Andrew Mikitchook assigns an ‘outperform’ rating to Orla with a target price of C$7.50. Shares on Thursday closed 5.7% higher at C$4.47, having touched C$3.53 and C$6.90 over the past 12 months. It has a market capitalization of C$1.4 billion.

Mikitchook expects Orla to publish an updated resource before the end of June, which will incorporate drilling from the layback area for the first time.

“We remain cautiously optimistic following the high-grade intercepts located down-dip and underneath the open pit,” he wrote in a note to clients, adding the results demonstrated potential to extend the mine life.

Camino Rojo has measured and indicated oxide resources of 84.4 million tonnes grading 0.72 grams gold per tonne for 1.9 million oz. of metal. It also has a sizeable sulphide component of 258.8 million tonnes grading 0.88 grams gold per tonne for 7.3 million oz. of metal. Proven and probable reserves total 58.5 million tonnes at 0.74 gram gold per tonne for 1.4 million ounces.

Elsewhere in the portfolio, in December, Panama’s government rejected its request for permit extensions for the Cerro Quema gold project and cancelled the mining concessions by designating the area a reserve. Orla has halted further investment in Panama, where the government recently shut down First Quantum Minerals’ (TSX: FM) Cobre Panama mine.

Categories: J2. Fossil Fuel Industry

Old Man Winter’s Disappointing Encore Sees Natural Gas Forward Prices Retreat

NGI Shale Daily - Thu, 01/18/2024 - 13:46

Natural gas forwards pulled back during the Jan. 11-17 trading period as impacts to both supply and demand from recent Arctic weather began to subside and as a much milder late January pattern came into sharper focus.

After surging in the week-earlier period, fixed prices from coast-to-coast fell back down, NGI’s Forward Look data show.

Despite production freeze-offs and robust heating demand amid the most impressive spell of winter weather for the Lower 48 season-to-date, forecasts teased a downright balmy late January period that ultimately deflated prices.

[Mexico Matters: Cross-border energy trade between the U.S. and Mexico reached $82 billion last year. Understand this burgeoning trade flow — the projects, politics and natural gas prices — with NGI’s Mexico Gas Price Index. Know more.]

Absent a frigid enough encore to the recent bout of winter, Henry Hub February prices sank 16.4 cents week/week, falling back below the $3/MMBtu mark to $2.891.

Late January Warmth

Forecast maps from Maxar’s Weather Desk as of Thursday painted the Lower 48 with the red, orange and yellow hues of unseasonably warm temperatures starting early next week and lasting into the start of February.

“The near term chill quickly gives way to a warmer pattern in the six- to 10-day period, as Pacific flow is enhanced downstream over the Gulf of Alaska amid a lack of Arctic blocking,” the forecaster said. “Above normal temperatures are widespread in coverage as a result, including much and strong aboves for most of the period in the Midwest and during the second half in the East. At the mid-period peaks, lows are in the 30s and highs in the 40s in Chicago, while New York City has lows in the low 40s and highs in the low 50s.”

The 11- to 15-day period was expected to carry over the widespread above normal temperatures seen for days six through 10, according to Maxar.

The warmest conditions were expected early in the period, “with much and strong aboves from the Midwest to the East Coast,” the forecaster said. “Temperatures moderate in these areas during the second half, particularly along the East Coast where readings return to normal as a trough settles into eastern Canada.”

Regional hubs that had rallied a week earlier ahead of the encroaching Arctic cold posted steeper discounts compared to the national benchmark.

In the Midwest, Chicago Citygate basis for February fell to plus-89.5 cents, down 26.0 cents week/week. In the Midcontinent, Northern Natural Demarc tumbled 53.9 cents to end at plus-$1.250 for February.

Mid-Atlantic and Northeast prices also came down sharply during the period to narrow regional premiums to Henry Hub.

Algonquin Citygate February basis finished at plus-$6.019, a 96.7-cent swing lower. Cove Point February basis dropped to plus-$3.773, a discount of 63.5 cents for the period, Forward Look data show.

Still, Forward Look data as of Thursday showed notable month-to-date fixed price gains across the strip for much of the Lower 48, suggesting the colder start to 2024 has produced a bullish shift in market sentiment following the mild finish to 2023.

Chicago Citygate February fixed prices, for example, were trading at $2.720 in early January and had rallied more than 38% month-to-date as of Thursday, even after accounting for the discounts of the past week, Forward Look data show.

Further, a number of hubs have popped for winter 2024/25 contracts thus far in the new year, including Algonquin Citygate, where January 2025 fixed prices were up 84.8 cents (7%) month-to-date. Cove Point January 2025 prices were up 66.1 cents versus levels at the start of the month, a 12% increase, according to Forward Look data.

Weather-Driven Gains Short-Lived

Much like snow after the thaw sets in, the impact on Nymex futures from the recent January cold had largely evaporated by Thursday; the February Nymex contract was trading in line with pre-winter storm levels, settling at $2.697, down 17.3 cents on the day.

Ultimately, even with recent freeze-offs, the Arctic cold seemingly failed to rewrite the fundamental narrative dominating natural gas earlier this winter, a story centered around oversupply concerns following a fall production surge.

A triple-digit withdrawal in the latest U.S. Energy Information Administration (EIA) storage report Thursday showed cold making a dent in the year-on-five-year inventory buffer during the week ended Jan. 12. Even so, stockpiles remained at a 320 Bcf surplus to the five-year average.

At 3,182 Bcf, Lower 48 inventories exited the week above the five-year maximum of 3,089 Bcf, EIA data show.

The subsequent EIA report “is expected to bring heavy withdrawals given the cold temperatures felt this week,” Gelber & Associates analysts said Thursday. Recent forecasts “show that the remaining winter is unlikely to see temperatures any colder than those brought by this most recent cold shot.”

Daily production remained well off the recent 30-day average at 97.9 Bcf/d as of Thursday in Wood Mackenzie’s dataset, suggesting ongoing weather-related disruptions.

EBW Analytics Group estimated that freeze-offs impacted as much as 12 Bcf/d during the Arctic blast.

The duration of weather-related production declines remained a key factor to monitor for natural gas markets moving forward, EBW analyst Eli Rubin said in a recent note.

“Perhaps the most pressing near-term question for the natural gas outlook is the pace of the supply recovery…Supply had already begun to dip 2.0 Bcf/d ahead of the brunt of cold, while the strong early-winter supply surge had already appeared poised to reverse lower into mid-winter,” Rubin said. “Our current assessment has production exiting March 0.75 Bcf/d below December levels. If supply fails to fully recover from winter freeze-offs, the fundamental outlook may appear less bearish than our current most-likely market assessment.”

Arctic cold could return in February, and production impacts could endure, developments that would “help rebalance the market” moving forward, according to the analyst.

Still, “long-term fundamentals remain considerably oversupplied to bias natural gas market risks distinctly lower,” Rubin said.

The post Old Man Winter’s Disappointing Encore Sees Natural Gas Forward Prices Retreat appeared first on Natural Gas Intelligence

Categories: J2. Fossil Fuel Industry

Stick to the plan: Lights won’t go out when Eraring closes on schedule

Renew Economy - Thu, 01/18/2024 - 13:45

Consistent with AEMO's own modelling, our new analysis reconfirms there is no material electricity reliability gap for NSW if Eraring closes on schedule.

The post Stick to the plan: Lights won’t go out when Eraring closes on schedule appeared first on RenewEconomy.

Categories:

New Municipal Broadband Networks Skyrocket in Post-Pandemic America As Alternative To Private Monopoly Model

Institute for Local Self-Reliance - Thu, 01/18/2024 - 13:41

“The monopoly cable and telephone companies frequently claim that there are no problems with broadband in the U.S., even as millions of students cannot access the Internet from their homes, whether in rural or urban areas. These cities remind us of the work that has to be done to make sure everyone can take advantage of modern technologies.”… Read More

Shell vs. The World: A Tale of Carbon Emissions, Courtrooms, and Questionable Commitments

Royal Dutch Shell Plc .com - Thu, 01/18/2024 - 13:36

Posted by John Donovan: 18 Jan 24

Shell Plc is prepping for its big courtroom comeback. They’re appealing against a Dutch court ruling that was basically a ‘please stop ruining the planet’ request. The court had the audacity to order Shell to slash its global emissions by 45% by 2030 from its 2019 levels. Shell’s reaction? “Hold my oil barrel!”

Picture this: it’s 2021, and Friends of the Earth, along with six other NGOs and a casual 17,000 other plaintiffs, successfully argue that Shell is playing fast and loose with Dutch and European human rights law. The District Court in The Hague, in a move that probably had Shell execs spitting out their morning coffee, mandates this emission cut. Shell’s response: “Let’s take this to the appeals court!”

Fast forward to almost three years later, and Shell’s appeal is all set for a four-day extravaganza at The Hague Court of Appeal. It’s like the Oscars but for corporate environmental responsibility (or the lack thereof).

In the original case, the court, citing every environmental body under the sun, says Shell’s efforts to curb emissions are as effective as a chocolate teapot. The court’s mandate obliges Shell to reduce emissions from its operations, energy suppliers, and customers. It’s like telling a kid to clean their room, their friend’s room, and maybe the neighbor’s too.

This landmark case was a first-of-its-kind against a company, rather than just state actors. Since then, climate litigation has become as trendy as avocado toast.

But wait, there’s more! The same year, Shell, in a move as subtle as a neon billboard, announced plans to move its headquarters from the Netherlands to the UK. “It’s not you, it’s me,” said Shell to Dutch jurisdiction, citing a need to ‘simplify its share structure.’

While Shell insists that appealing the verdict doesn’t mean it’s not committed to reaching net-zero by 2050, it’s like saying, “I’m on a diet” while ordering a double cheeseburger. They argue that the Hague’s obligations are like asking Usain Bolt to run in slow motion.

In a statement dripping with corporate speak, Shell said, “The obligation the court has set is much more stringent than the world’s most progressive energy pathways and scenarios.” It’s like they’re saying, “Come on, even the overachievers aren’t trying this hard.”

And about reducing its customers’ emissions? Shell’s like, “How can we be ordered to reduce carbon emissions we do not control?” It’s the corporate equivalent of a shrug emoji.

Meanwhile, Friends of the Earth, not ones to sit back and watch the show, are keeping the pressure cooker on high. They point out Shell’s whopping profits and accuse the company of having plans to “extract every last drop of oil and gas it can.”

As the appeal looms, Friends of the Earth has raised a war chest of €650K to fight Shell’s appeal. It’s like David vs. Goliath, but with more lawyers and less slingshots.

So grab your popcorn, folks. Shell’s courtroom drama is set to be a blockbuster, complete with plot twists, corporate backpedalling, and a hefty dose of environmental urgency. Will Shell manage to wiggle out of this one, or will the court uphold its ‘please be kinder to the planet’ request? Stay tuned!

DISCLAIMER: Content published on this non-commercial platform may incorporate information generated by Artificial Intelligence (AI) and various other technological means, including translation and information published on Wikipedia. The articles presented may be satirical adaptations derived from one or more previously published sources, crafted to maintain factual accuracy while incorporating elements of satire. Individuals or entities mentioned in our articles are encouraged to notify us of any inaccuracies that may require rectification. Readers are advised to verify all information for accuracy and completeness independently.

Shell vs. The World: A Tale of Carbon Emissions, Courtrooms, and Questionable Commitments was first posted on January 18, 2024 at 10:36 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net

Categories: J2. Fossil Fuel Industry

Ford’s Christmas gift to Enbridge Gas

Ontario Clean Air Alliance - Thu, 01/18/2024 - 13:10

The Ontario Energy Board (OEB) has seen the future and that future does not include subsidizing the expansion of fossil gas service to new residential developments. The OEB ended that subsidy, finding that this would lower energy bills for new homebuyers and for existing gas customers. But for a provincial government that still has its

The post Ford’s Christmas gift to Enbridge Gas appeared first on Ontario Clean Air Alliance.

Categories: G2. Local Greens

Shell’s Old Files: The Gift That Keeps on Giving (To Climate Lawsuits)

Royal Dutch Shell Plc .com - Thu, 01/18/2024 - 12:47

Posted by John Donovan: 18 Jan 24

In a plot twist worthy of a daytime soap opera, newly unearthed documents from Shell’s dusty archives could turn out to be climate attorneys’ new best friends. These relics, dating back decades, have been discovered, possibly hiding under a pile of old oil barrels, and they’re singing like a canary about Shell’s knowledge of climate damages. Cue dramatic music!

Reported for the first time by DeSmog and Follow The Money, these documents, now showcased on Climate Files, are like a time capsule from a more, shall we say, ‘honest’ time at Shell. Take a 1970 industry journal article, for instance, where Shell seems to have had a moment of clarity, accepting responsibility for the harms caused by its products. “Whoops, did we do that?” they might have said.

In the 1980s and 1990s, Shell’s publications were all about the “major adverse changes” the “greenhouse effect” could cause. But, in true Shell style, as they were penning these concerns, they were also planning more oil and gas production. It’s like a villain in a movie revealing their master plan while still trying to look like the good guy.

One 1998 report is particularly juicy. It details why Shell bid adieu to the Global Climate Coalition, a lobby group that was to climate science what kryptonite is to Superman. Shell acknowledged the need for “prudent precautionary measures” to avoid the worst climate impacts, yet kept drilling away. Talk about mixed messages!

Fast forward to today, and climate attorneys are rubbing their hands together with glee. These documents are like finding a map to buried treasure. Corey Riday-White, a senior staff attorney at the Center for Climate Integrity, summed it up perfectly: “These internal admissions are valuable sources for litigators… While Shell privately acknowledged the dangers… the corporation publicly sowed doubt about the science and fought efforts to regulate its pollution.” Classic Shell, always playing both sides.

Vatan Hüzeir, the climate activist and doctoral candidate who unearthed these gems, must feel like Indiana Jones right now. His findings show that while Shell was aware of the climate catastrophe brewing, they were busy playing the “let’s emphasize scientific uncertainties” game in public.

Now, with lawsuits flying at Shell like confetti at a wedding, these documents could be the smoking gun. It’s like watching a detective show where the villain accidentally left their diary at the crime scene.

Shell, when asked for comment, referred to a previous statement, basically saying it’s the government’s job to sort this mess out. Because why take responsibility when you can pass the buck?

So there you have it: Shell’s walk down memory lane, where every step is a reminder of “Oh, we knew about that climate thingy all along.” Stay tuned to see how these old files turn into new headaches for our favourite oil giant.

DISCLAIMER: Content published on this non-commercial platform may incorporate information generated by Artificial Intelligence (AI) and various other technological means, including translation and information published on Wikipedia. The articles presented may be satirical adaptations derived from one or more previously published sources, crafted to maintain factual accuracy while incorporating elements of satire. Individuals or entities mentioned in our articles are encouraged to notify us of any inaccuracies that may require rectification. Readers are advised to verify all information for accuracy and completeness independently.

Shell’s Old Files: The Gift That Keeps on Giving (To Climate Lawsuits) was first posted on January 18, 2024 at 9:47 pm.
©2018 "Royal Dutch Shell Plc .com". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at john@shellnews.net

Categories: J2. Fossil Fuel Industry

Reabold announces £4.4m payment from Shell

DRILL OR DROP? - Thu, 01/18/2024 - 12:29

Reabold Resources, a key investor in the West Newton oil and gas field in East Yorkshire, is to receive £4.4m from Shell in the coming days.

West Newton-B wellsite in 2020. Photo: West Newton and Sproatley Gateway to the Gas Fields

The payment, announced today, is the final tranche of money from Reabold’s sale of Corallian Energy.

It follows development consent for Corallian’s Victory gas field, west of Shetland.

Reabold said it has already received £8.3m as part of the deal. It said it would use the money to “advance the development of assets across its portfolio, as well as distributing excess cash to shareholders”.

In a statement, Reabold referred to its investments in West Newton and Colle Santo, in southern Italy. It described them as “significant gas resources”. They would, the company said, “make a meaningful contribution to improve energy security in Western Europe”.

Reabold Resources has a 16.665% stake in the West Newton licence, PEDL183, and holds 59% of the shares in the licence operator, Rathlin Energy.

Rathlin is required by the industry regulator, the North Sea Transition Authority, to drill and test a new appraisal well at West Newton by June 2024. It has also committed to the same deadline to recomplete or drill a sidetrack to one of the existing three wells and carry out testing.

Company accounts for Rathlin revealed that it needs more money to drill at West Newton. Rathlin’s share of the work is likely to cost about £9m, the accounts estimated in September 2023. At the time, the company reported it had £3.8m in cash.

Reabold’s co-chief executive, Stephen Williams, said of the final payment from Shell:

“This represents a significant moment in the delivery of the Reabold strategy to identify, fund and monetise underappreciated, but strategically important assets.

“We remain focussed on progressing other key projects in the Reabold portfolio in 2024 and realising further value to reward shareholders for their ongoing support of the Company.”

Earlier this month, Mr Williams and other members of the Reabold board fought off a second challenge from a group of shareholders, which wanted to farm-out operations at West Newton if drilling were successful.

Categories: G2. Local Greens

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