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Energy

Monadelphous wins $220m in new work

Perth-based Monadelphous Group has won a suite of new contracts and extensions for maintenance and construction work around Australia and internationally, to the tune of $220 million.

Stochastic into liquidation

Oil and gas software developer Stochastic Simulation has gone into liquidation, about five months after it went into receivership, with secured creditors likely to receive about 4 cents in the dollar in a best-case scenario.

Shares jump on Xanadu result

Shares in three local energy companies have surged today after hitting hydrocarbons while drilling the Xanadu-1 offshore prospect in the Perth Basin, with Triangle Energy leading the charge, up nearly 60 per cent.

Horizon beats subsidy cut target

State-owned regional power provider Horizon Power has recorded a $35.4 million net profit for the year to June, while hitting its targeted reduction of government subsidies more than a year ahead of time.

Synergy loss as gas, power sales fall

State-owned power generator and retailer Synergy has recorded a loss of $12.6 million for the 2017 financial year on the back of lower sales revenue and a large impairment due to the early closure of its generation capacity.

Pancontinental in $US7.7m Namibian deal

Shares in West Perth-based energy hopeful Pancontinental Oil & Gas were up 33 per cent today after the company sold part of its stake in a Namibian offshore exploration licence to Africa Energy for $US7.7 million ($9.6 million).

Empire production assets under receivership

Updated: Empire Oil & Gas has appointed voluntary administrators to its wholly-owned Empire Oil subsidiary, which controls its core Red Gully assets.

Contract Power to build, run, Pilgangoora power

Contract Power Group has won a contract to build, own and operate a power station at Pilbara Minerals’ Pilgangoora lithium project for at least seven years, while former Fortescue Metals Group delivery manager Dale Henderson has taken over as Pilbara’s project director.

Triangle to float subsidiary on ASX

Gas explorer Triangle Energy Global has announced plans to spin-out one of its subsidiaries into a new entity and float it on the ASX.

Hatton to chair fracking inquiry

The state government has strengthened its ban on fracking in Perth and the South West, while moving to appoint Environmental Protection Authority chairman Tom Hatton to run a scientific inquiry into the drilling technique.

Well problems lead to Empire suspension

Perth Basin energy player Empire Oil & Gas has placed its ASX-listed securities into suspension after it was unable to restart production at its Red Gully-1 well.

MacTiernan backs solar exports to Indonesia

An ambitious multi-billion dollar project to export solar power from the Pilbara into Indonesia would be technically viable, according to a pre-feasibility study released by the Pilbara Development Commission today.

Oil downturn continues to buffet MMA

MMA Offshore has posted a $378 million loss for the 2017 financial year on the back of a huge impairment and the halving of revenue from its oil and gas-focused vessel operations.

Move, cautiously, to electricity competition: Wood

Grattan Institute energy program director Tony Wood has said the state government should proceed, but move cautiously, toward full retail contestability in the local electricity market, speaking at the Energy in WA conference today.

Wyatt to tackle energy market access

Energy Minister Ben Wyatt hopes to introduce laws to ease network access rules for new electricity generators by mid 2018, while acknowledging concerns about Synergy's market power in an address today at the Energy in Western Australia Conference.

Waitsia well exceeded expectations: AWE

Sydney-based gas producer AWE plans to upgrade its resource estimate for the Waitsia gas field in the Perth Basin in coming months after a recent drilling campaign showed the field extends further eastward than initially thought.

Advanced Energy in Westpork renewables build

Applecross-based Advanced Energy Resources will soon begin work to install 1.5 megawatts of wind farm capacity across agribusiness Westpork’s biggest farms as part of a $4 million move to renewables.

Power players keen to compete with Synergy in more open marketplace

SPECIAL REPORT: As WA households benefit from increased competition in gas retailing, the electricity sector wants to be able to compete with Synergy in providing to small customers, with some industry members calling for a reduction in the contestability threshold to 20 megawatt hours.

Renewables await policy clarity

SPECIAL REPORT: More than $1.6 billion of renewable energy projects are proposed for the South West Interconnected System, but their success may hinge on how the government handles two regulatory issues.

Coleman flags ownership changes at NW Shelf

Woodside Petroleum chief executive Peter Coleman said today that changes to the ownership of the North West Shelf Venture would be a natural progression as it became an infrastructure asset servicing offshore gas fields.

Acquisition could boost NWSV life extension case

Some of the North West Shelf Venture partners might either sell their stake in the operation or take an equity interest in potential projects such as Browse as one potential solution to find backfill liquids for Karratha gas plant in the next decade, according to a report by Wood Mackenzie.

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