FireBird Energy II LLC ("FireBird II" or the "Company") announced the Company has secured equity commitments in excess of $500 million anchored by funds managed by Quantum Energy Partners (“Quantum”). The founders and employees of FireBird II, along with other strategic partners, are making significant equity commitments to the Company alongside Quantum. Headquartered in Fort Worth, Texas, FireBird II will invest in oil and gas properties in the Permian Basin with a primary focus on the Midland Basin.
To ensure offshore oil and gas wells, platforms, pipelines, and related infrastructure are decommissioned in a timely, safe, and environmentally responsible manner, the Bureau of Safety and Environmental Enforcement will publish a final rule that specifies decommissioning requirements for rights-of-use and easement grant holders and formalizes BSEE’s policies regarding performance by predecessors ordered to decommission Outer Continental Shelf facilities.
Shell U.K. Ltd (“Shell”), a subsidiary of Shell plc, has completed the restart of operations at the Pierce field in the UK Central North Sea, following a significant upgrade to allow gas to be produced after years of the field producing only oil. Pierce is a joint venture between Shell companies (operator, 92.52%) and Ithaca Energy (UK) Limited (7.48%.)
The European Commissioner for Environment, Oceans and Fisheries will attend this year's Ocean Energy Europe's Conference & Exhibition, which will take place in The Hague, on 25-26 October. Commissioner Sinkevičius will deliver a keynote address in the main conference program.