While Noble Energy (NBL) made headlines as the first operator to receive a deep-water drilling permit in the US Gulf since the Deepwater Horizon disaster, the Houston explorer isn’t the only concern with a stake in the well. BP is the project’s largest stakeholder, with a 46.5% interest, versus Noble’s 23.25% share. Owning 20.25% of the well is Red Willow Production, the Southern Ute’s oil and gas company, which the tribe started 19 years ago to buy gas wells on its reservation and expanded into an offshore explorer in 2003. An investment group holds the remaining 10% interest.
(c) 2011 Dow Jones & Company, Inc.
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Two of the world's biggest renewables players on Wednesday warned of challenges for the U.S. offshore wind sector under a presidency led by Donald Trump, flagging potential delays for the technology slammed by the president-elect.
A Russian Navy frigate equipped with new generation hypersonic cruise missiles has conducted drills in the English Channel and is carrying out tasks in the Atlantic Ocean, Russian news agencies reported on Tuesday.
Energy regulator Ofgem approved five new subsea power links from Great Britain to the continent and Ireland as the country seeks to profit from a boom in wind capacity and become a net electricity exporter by the end of the decade.
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