Connect with us

Energy

Rescheduling of Work Commitments in Corentyne Block, Guyana

Avatar

Published

on

TORONTO, Nov. 27, 2020 /PRNewswire/ – Frontera Energy Corporation (TSX: FEC) (“Frontera” or the “Company“) and CGX Energy Inc (“CGX“), the joint venture partners (the “Joint Venture“), announce that their constructive and collaborative discussions with the Government of Guyana have been concluded with respect to the Corentyne block with a rescheduling of the Joint Venture’s work commitments regarding its Petroleum Prospecting License for the Corentyne Block offshore Guyana.

The Joint Venture has remained committed throughout to completing its exploratory commitments in full, despite operational activities in Guyana being severely affected for much of 2020 due to the COVID-19 pandemic, delaying the Joint Venture’s exploration activities. The Joint Venture has been advised that the existing November 27, 2020 deadline for drilling the next well will be extended to November 27, 2021 subject to documentation.

About Frontera:

Frontera Energy Corporation is a Canadian public company and a leading explorer and producer of crude oil and natural gas, with operations focused in South America. The Company has a diversified portfolio of assets with interests in more than 40 exploration and production blocks in Colombia, Peru, Ecuador and Guyana. The Company’s strategy is focused on sustainable growth in production and reserves. Frontera is committed to conducting business safely, ethically in a socially and environmentally responsible manner. Frontera’s common shares trade on the Toronto Stock Exchange under the ticker symbol “FEC”.

If you would like to receive News Releases via e-mail as soon as they are published, please subscribe here: http://fronteraenergy.mediaroom.com/subscribe.

Advisories:

This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the ongoing impact of the COVID-19 pandemic on the Company’s operations, the Company’s exploration and development plans and objectives, and timing and execution of definitive documentation are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility in market prices for oil and natural gas (including as a result of a sustained low oil price environment due to the COVID-19 pandemic and the actions of OPEC and non-OPEC countries and the procedures imposed by governments in response thereto; the duration and spread of the COVID-19 pandemic and its severity, the success of the Company’s program to manage COVID-19; uncertainties associated with estimating and establishing oil and natural gas reserves and resources; liabilities inherent with the exploration, development, exploitation and reclamation of oil and natural gas; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return; expectations regarding the Company’s ability to raise capital and to continually add reserves through acquisition and development; the Company’s ability to access additional financing; the ability of the Company to: meet its financial obligations and minimum commitments,  fund capital expenditures and comply with covenants contained in the agreements that govern indebtedness; political developments in the countries where the Company operates; the uncertainties involved in interpreting drilling results and other geological data; geological, technical, drilling and processing problems; timing on receipt of government approvals; fluctuations in foreign exchange or interest rates and stock market volatility and the other risks disclosed under the heading “Risks and Uncertainties” in the Company’s MD&A dated November 3, 2020 and under the heading “Risk Factors” and elsewhere in the Company’s annual information form dated March 5, 2020 filed on SEDAR at www.sedar.com.

Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

SOURCE Frontera Energy Corporation

Related Links

www.fronteraenergy.ca

Source: https://www.prnewswire.com:443/news-releases/rescheduling-of-work-commitments-in-corentyne-block-guyana-301181176.html

Energy

Dakota Power wins N.J. project approval, has billion-dollar solar plans

Avatar

Published

on

In addition to the 50 MW project, Dakota Power Partners has proposed developing at least five more utility-scale solar facilities across the Garden State.

Dakota Power Partners, which said it intends to invest $1 billion in utility-scale solar in New Jersey, has won approval for the developer’s first solar farm as part of what could become a large project portfolio.

The Millville Planning Board unanimously approved the 50 MW solar farm during its monthly meeting on January 12, clearing the way for construction to begin by year’s end. Called Nabb Solar I, the project will be located in western Millville and is anticipated to begin operation in fall 2022.

Timothy Daniels, Dakota’s principal and co-founder, said the local officials were “quick to see the value of this project.”

Over the 30-year expected life of the project, Nabb Solar I is estimated to generate a total of approximately $7.8 million in taxes. Dakota said it will pay annual real estate taxes of approximately $102,295 to the City of Millville, $67,547 to Millville Public Schools, and $98,166 to Cumberland County, for a total of $268,008 in local taxes per year.

Joe Derella, director of the Cumberland County Board of Commissioners, called the project a “massive $70 million investment in our region” that will create hundreds of jobs.

“This is what the future of energy looks like in New Jersey,” said Millville Mayor Mike Santiago.

Nabb Solar I is one of six similar New Jersey projects being proposed by Dakota Power Partners, which has offices in Millville and Denver, Colorado. In total, Dakota is proposing a $1 billion utility-scale solar investment in the Garden State.

Utilizing a portfolio of utility-scale solar and solar+storage projects across the state, the company said it intends to achieve generating capacity totaling more than 1 GW in New Jersey.

According Dakota, the company has participated in the development of more than 3.15 GW of operating and in-construction wind and solar projects around the U.S., representing an aggregate capital investment in rural communities in excess of $3.8 billion.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/dakota-power-wins-n-j-project-approval-has-billion-dollar-solar-plans/

Continue Reading

Energy

National lab and Youngstown State partner to develop battery manufacturing workforce

Avatar

Published

on

Electric vehicle

The U.S. Department of Energy’s (DOE) Oak Ridge National Laboratory is partnering with Ohio’s Youngstown State University on a $1 million project to advance workforce development for the battery manufacturing industry.

According to the DOE, the new Energy Storage Workforce Innovation Center will serve as a training center based in the Midwest. It will support the battery and electric vehicle (EV) manufacturing industry in the northeast region of Ohio–referred to as “Voltage Valley” due to the EV sector’s regional investments–by helping supply a capable workforce.

The DOE said the U.S. is in a period of “tremendous advancement in battery technologies, presenting new opportunities for electric vehicles and energy storage systems,” and it’s essential to “prepare a workforce that will lead the next generation of energy storage technologies into practice.”

This effort supports the DOE’s Energy Storage Grand Challenge, which draws on the research capabilities of the U.S. national laboratories, universities, and industry to accelerate the development of energy storage technologies. The DOE added that the Energy Storage Grand Challenge Roadmap outlines a department-wide strategy to accelerate innovation across a range of storage technologies and develop a skilled workforce based on three concepts: Innovate Here, Make Here, and Deploy Everywhere.

U.S. Rep. Tim Ryan, representing Ohio’s 13th District, called this new partnership a “great example of how government can work to bolster efforts on the ground in our community to dominate in the clean energy economy.”

The $1 million project is sponsored by the DOE’s Office of Energy Efficiency and Renewable Energy’s Vehicle Technologies Office and the Advanced Manufacturing Office.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/national-lab-and-youngstown-state-partner-to-develop-battery-manufacturing-workforce/

Continue Reading

Energy

Drought conditions could impact power generation in the West

Avatar

Published

on

Ongoing drought and low snowpack mean that hydro production at two big dams could be impacted, affecting the West’s power supply in 2021.

Ongoing drought in parts of the West could trigger water conservation measures across seven states this year.

It would mark the first time that cutbacks outlined in drought contingency plans drafted two years ago have been put in place.

Everything from hydroelectric power generation to agricultural production to the bubbling fountains at Las Vegas casinos could be impacted.

Impacts on hydro generation could have ripple effects across the Southwest, including solar and energy storage.

A forecast released in mid-January by the U.S. Bureau of Reclamation said that the federally owned Lake Mead and Lake Powell — the nation’s two largest reservoirs and critical storage for Colorado River water and its 40 million users — are both approaching near-record-low levels. If those levels continue dropping as expected, agreements signed by the seven Colorado River Basin states in 2019 will go into effect, with water deliveries curtailed to keep the federal government from stepping in and imposing cuts of its own.

The Upper Colorado River basin region includes all or parts of Arizona, Colorado, Idaho, Nevada, New Mexico, Texas, Utah, and Wyoming. Drought has been an ongoing problem across much of the region for most of the century. The Bureau of Reclamation’s latest quarterly report showed Lake Powell at 42% of capacity and Lake Mead at 40%.

Three hydro plants that could be affected as water levels fall are the 1,312 MW station built at Glen Canyon Dam in 1964, and two hydro plants at Hoover Dam, which were built in 1936 and have a combined capacity of 2,078 MW.

In 2019, the Glen Canyon station generated nearly 4 million MWh of electricity. Combined, the two Hoover Dam stations generated roughly 3.4 million MWh, according to S&P Global.

The Bureau of Reclamation said in its report that during the 21-year period from 2000 to 2020, inflow to Lake Powell, which is a good measure of hydrologic conditions in the Colorado River Basin, was above average in only four of the past 19 years. It said the period 2000-2020 was the lowest 21-year period since the closure of Glen Canyon Dam in 1963.

The report said that under the current most probable forecast, the total water-year 2021 inflow to Lake Powell would be 5.72 million acre-feet, or roughly 53% of average.

If worst-case projections materialize, the water level at Lake Powell could drop below a critical level — measured as 3,525 feet above sea level — in early 2022, threatening the ability of Glen Canyon Dam to generate electricity.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/drought-conditions-could-impact-power-generation-in-the-west/

Continue Reading

Energy

Clorox achieves renewables goal for U.S., Canadian operations four years early

Avatar

Published

on

The manufacturer reached its target with the help of a 70 MW virtual power purchase agreement with a Texas solar project.

The Clorox Co., whose products help consumers clean their homes and businesses, has turned to renewables to help clean the environment.

In an announcement, Clorox said it has reached its goal to power the company’s U.S. and Canadian operations using 100% renewable electricity. Part of the corporation’s environmental, social, and governance commitments, the target was achieved four years earlier than originally planned, thanks, in large part, to a solar contract.

In 2019, Clorox signed a 12-year virtual power purchase agreement (VPPA) to buy 70 MW annually from Enel Green Power’s Roadrunner solar project in Texas. Enel kicked off construction on the 497 MW Roadrunner facility in 2019 and completed the two-phase project in late 2020, making it one of the largest solar plants in the Lone Star State.

Moving forward, Clorox will maintain its 100% renewable electricity goal through the VPPA and other market purchases of renewable energy credits. Schneider Electric Energy & Sustainability Services advised the company on the deals.

Ed Huber, Clorox’s chief sustainability officer, said the manufacturer feels “a sense of urgency to address climate change” and recognizes “businesses play an important role in driving needed progress.”

Clorox also joined a coalition of other corporations–including Amazon, McDonalds, Pepsi Co., Walmart, and Facebook–calling on the Biden Administration to help pave the way for a zero-carbon U.S. power sector.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Source: https://pv-magazine-usa.com/2021/01/25/clorox-achieves-renewables-goal-for-u-s-canadian-operations-four-years-early/

Continue Reading
Blockchain3 days ago

Buying the Bitcoin Dip: MicroStrategy Scoops $10M Worth of BTC Following $7K Daily Crash

Blockchain3 days ago

Bitcoin Correction Intact While Altcoins Skyrocket: The Crypto Weekly Recap

Blockchain4 days ago

MicroStrategy CEO claims to have “thousands” of executives interested in Bitcoin

Blockchain3 days ago

Canadian VR Company Sells $4.2M of Bitcoin Following the Double-Spending FUD

custom-packet-sniffer-is-a-great-way-to-learn-can.png
Blockchain5 days ago

TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250

Amb Crypto4 days ago

Monero, OMG Network, DigiByte Price Analysis: 23 January

Amb Crypto2 days ago

Will range-bound Bitcoin fuel an altcoin rally?

NEWATLAS24 hours ago

Lockheed Martin and Boeing debut Defiant X advanced assault helicopter

Amb Crypto3 days ago

Chainlink Price Analysis: 23 January

Amb Crypto2 days ago

Bitcoin Price Analysis: 24 January

Amb Crypto4 days ago

Popular analyst prefers altcoins LINK, UNI, others during Bitcoin & Eth’s correction phase

Amb Crypto3 days ago

Bitcoin Cash, Synthetix, Dash Price Analysis: 23 January

Amb Crypto3 days ago

Why has Bitcoin’s brief recovery not been enough

Automotive3 days ago

Tesla Powerwalls selected for first 100% solar and battery neighborhood in Australia

Blockchain5 days ago

Bitcoin Cash Analysis: Strong Support Forming Near $400

SPAC Insiders5 days ago

Virtuoso Acquisition Corp. (VOSOU) Prices Upsized $200M IPO

Blockchain5 days ago

OIO Holdings Appoints Rudy Lim as CEO of Blockchain Business Subsidiary

Amb Crypto3 days ago

Stellar Lumens, Cosmos, Zcash Price Analysis: 23 January

Amb Crypto3 days ago

Why now is the best time to buy Bitcoin, Ethereum

AI2 days ago

Plato had Big Data and AI firmly on his radar

Trending