News Articles for Pilot Energy

Pilot Energy has scored a key environmental approval to conduct a 3D seismic survey in the offshore Perth Basin, targeting its Kingia gas play fairway and the massive potentially 1.1 trillion cubic feet (TCF) Leander gas prospect. The approval allows for a Eureka 3D seismic survey to cover a minimum 400 square kilometres area across its expansive WA-481-P exploration licence area.

Pilot Energy has inked a deal with United Arab Emirates-based Kala Data to launch modular data centres at its Arrowsmith production facility in Western Australia's Perth Basin. With Cliff Head's oil production winding down, 90 per cent of Arrowsmith's 4.4-megawatt gas-fired power capacity sits idle and is ripe for repurposing into a initial 1MW modular data centre at the project.

Pilot Energy has received a $3.887 million Petroleum Resource Rent Tax refund after oil production ceased at its joint venture Cliff Head oil field. The refund, paid via operator Triangle Energy Operations, was attributed to funds spent on abandoning, decommissioning and rehabilitating the Western Australian offshore production site. Pilot is cashed up after also raising $6.8 million in a recent share and convertible note issue.

Pilot Energy has kicked off a formal courtship process to secure farm-out partners at its expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast.

Pilot Energy has locked in the purchase of the WA-based Cliff Head oil facility from former joint venture partner Triangle Energy and will repurpose the asset for carbon capture and storage. Pilot has acquired Triangle's remaining 78.75 per cent interest in the oil field to assume full ownership of its onshore assets as well as all its offshore assets within WA jurisdiction.

In a major step toward its clean energy pivot, Pilot Energy has secured $5 million via a heavily oversubscribed placement priced at an impressive 100 per cent premium to its last trade. Pilot will use $4.5M to shore up the acquisition of a remaining 82 per cent stake in the Cliff Head oil project from Triangle Energy.

Pilot Energy has boosted its WA Leander prospective gas resource by a whopping 250 per cent to an estimated 1116 billion cubic feet of gas and 18 million barrels of condensate. The upgrade to the resource followed a detailed review of offset wells, including onshore exploration and appraisal wells, in addition to remapping of 2D seismic data.

Joint venture partners Pilot Energy and Triangle Energy have struck a revised vendor finance agreement to secure Pilot's full ownership of their Cliff Head oil joint venture and its associated infrastructure, reopening the door to Pilot's ambitions for a carbon capture project in WA's Mid West. The deal sets out a new two-stage asset transfer structure. Pilot will first acquire the joint venture's WA onshore assets.

A consortium of South Korean mega-energy firms is set to enter into an agreement with Pilot Energy to jointly develop the Mid West clean energy project in the Perth Basin to secure a supply of ammonia. The ammonia will be used in coal-fired power plants. The consortium received more than $2m in funding last November from the Korea Export-Import Bank to conduct a feasibility study on the project.

Pilot Energy has identified a further 27 million tonnes of carbon storage capacity at its Cliff Head carbon storage project following recent technical assessments by the company's sub-surface consultant. CO2Tech undertook the review of Pilot's WA 31-L licence area in anticipation of the next phase of regulatory approvals, increasing the 2C/P50 storage resource from its previous capacity of 45.6mt to 72mt.

Pilot Energy has entered into a joint development agreement with Capture6 Corporation to progress Capture6's direct carbon-from-air capture technology at Pilot's Mid West carbon capture project in WA. The first activity under the binding agreement with California-based Capture6 will be a demonstration of Capture6's novel water processing and direct carbon capture technology, which Pilot plans to deploy next year at its existing Cliff Head-Arrowsmith operation.

Pilot Energy has big plans to liquify and then store carbon emissions from WA industrial emitters in its depleted sub-sea oil well near Dongara in WA. It is also looking to lever its oil and gas assets to build a world class clean hydrogen and ammonia facility in WA's Mid-West. The remarkable project has received a shot in the arm after a Korean energy consortium raised $2.2m to conduct a study on the project.

Triangle Energy has cashed its first payment for the sale of its share in the Cliff Head oil joint venture in Western Australia. The $2.4 million payment from JV partner Pilot Energy represents the first of multiple payments totalling up to $18 million for Triangle who will pivot into serious exploration as it prepares to drill further wells in the Perth Basin.

Carbon capture and storage could generate more than $80 billion for the state economy over 20 years, according to new analysis funded by the Chamber of Commerce and Industry WA.

Triangle Energy's payoff for the sale to Pilot Energy of its Cliff Head oil asset off the coast of Western Australia now stacks up to $16 million after adjustments made to offset delays in the deal settlement. The new agreement features an extra $1 million for Triangle, which now plans to focus on its prospective conventional oil and gas activities in the Perth Basin.

The Federal Government has paved the way for Triangle Energy Global to complete the $15 million sale of its Cliff Head oil assets off the WA coastline after approving the site for permanent offshore carbon storage. The approval confirmed today by Resources Minister Madeleine King will allow Pilot Energy to acquire the project, while Triangle will set a stronger focus on its Perth Basin targets.

Pilot Energy has gained planning approval for its solar farm in the Mid West, where it also plans to build ammonia and carbon capture projects.

Perth-based petroleum producer and explorer Triangle Energy finished the past quarter with $5.24 million in the bank as it homes in on the onshore North Perth Basin, where it will drill for oil this year. The company is currently producing crude from its Cliff Head field off Dongara, with that operation netting it $15 million as part of a sales deal with Pilot Energy.

Junior ASX company Pilot Energy has struck a conditional partnership agreement with South Korean engineering giant Samsung but failed to impress the market, with its shares falling sharply today.

Triangle Energy has casing and wellheads lined up for two of three high-value wells it will drill at its onshore Perth Basin areas in the first half of next year. The company has received regulator approval to farm out a 50 per cent interest in its permits, which will see some $20 million enter the company's coffers to offset drilling and seismic processing costs.

Triangle Energy will ramp up its oil and gas chase after receiving $15 million from Pilot Energy for the sale of its share in the Cliff Head oilfield and carbon reinjection joint venture in waters off the Dongara coastline in Western Australia's Mid West. The consideration will be paid in three stages and is expected to be completed early next year.

Triangle Energy has reeled in $11.4 million in the March quarter – a staggering 73 per cent increase from the previous quarter – courtesy of oil sales associated with its Cliff Head JV partnership with Pilot Energy. The record sales round off a busy quarter highlighted by two oil shipments and finalising the acquisition of two oil and gas permits in WA's Perth Basin with Key Petroleum.

WA-based producer Triangle Energy has squared away a cool $4.5 million after receiving payment for its second oil shipment to a refinery in Thailand over the December period. The shipment is part of the company's Cliff Head joint venture with Pilot Energy which sees the duo complete production at the Cliff Head oil field about 270km north of Perth before mobilising it to buyers in Asia.

ASX-listed oil producer Triangle Energy has closed the book on a solid December quarter, tabling a host of milestones including its second oil delivery to a refinery in Thailand via an all-new shipping route, farming out two gas prospective permits to Talon Energy and raking in $6.6 million courtesy of oil sales associated with its Cliff Head joint venture partnership with Pilot Energy.

JV partners Triangle Energy Global and Pilot Energy have firmed up the efficiency of a new shipping route through the Port of Geraldton in WA after completing a second delivery of 52,900 barrels of oil to a refinery in Thailand. The vessel carrying the freight has since returned from its voyage and has been loaded with a fresh batch of 25,000 barrels of liquids ahead of a new 2023 delivery.

A fresh review of JV partners Triangle Energy Global and Pilot Energy's Cliff Head oil reservoirs suggests the assets could hold 9.7 million tonnes of carbon dioxide – a 50 per cent increase on initial projections. The producer's oil fields are currently pumping out roughly 700 barrels of oil each day but once exhausted the aim is to use them to store carbon produced from power generation and industrial activities.

JV partners Triangle and Pilot Energy could lodge a formal application to use the company's Cliff Head oil reservoirs as carbon storage tanks in the next few weeks after finalising the regulatory approval data required for the submission. The producer's oil fields are currently churning out about 700 barrels of oil per day but once depleted it is hoped they will be used to progress the partnership's clean energy initiatives.

The Cliff Head joint venture between Triangle and Pilot Energy continues to deliver the goods with the duo completing its fourth tanker load of 26,500 barrels of oil onto the AB Paloma vessel at the Port of Geraldton in WA. Triangle Energy holds a 78.75 per cent share in the partnership and says the ship is now stocked with 53,000 barrels of oil and is on its way to a refinery in Asia where it will be sold.

WA oil producer Triangle Energy closed the September quarter on a high, completing a flurry of activity including its first oil delivery to a refinery in Thailand using a new shipping route, acquisition of two onshore exploration permits and banking a slice of a $6.9 million pay packet courtesy of oil sales associated to its Cliff Head joint venture partnership with Pilot Energy.

ASX-listed Triangle Energy could soon have $6.72 million to inject into its portfolio of WA-based oil and gas operations after selling off a slice of its interests in NSW oil and gas developer State Gas. Despite offloading 24 million shares, Triangle retains a strategic holding in State Gas of more than 10 per cent and says it is now well positioned to navigate an increasingly evolving energy sector.

WA oil producer Triangle Energy has formalised a deal to reduce its stake in the Cliff Head Joint Venture partnership shared with ASX-listed Pilot Energy. The company currently owns 80 per cent of the project but has agreed to sell off half its rights for $1 million – a sum projected to hit its coffers by the second quarter of next year, pending a government review of the duo's proposed carbon capture and sequestration plan for the site.

Triangle Energy's Cliff Head JV with Pilot Energy could soon pocket about $6.8 million after unloading and subsequently selling off close to 51,000 barrels of oil via a new shipping route through Thailand. The Perth-based oil and gas player could earn about $5.4 million from its share in the project with the company's joint venture partner taking home an estimated $1.4 million for its part of the deal. Another shipment is scheduled for later in the year.

Triangle Energy's new board has laid out its plan for the road ahead since taking control of the Perth Basin operator, focusing firmly on the $11 million final shipment from the BP Kwinana facility in June. The company has just completed a strategic review that aims to preserve and increase production across its portfolio of assets.

ASX-listed Pilot Energy, which has proposed a large renewable hydrogen project off the Mid West coast, has entered a trading halt with plans to make an acquisition announcement.

Oakajee's industrial zone could come to life as a hydrogen industry park in a plan to be announced by the state government as early as this week.

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.

When newly appointed managing directors agree to work for nothing, it's a sure sign the cost pressures facing listed companies are getting more acute.

Perth stockbroking firm DJ Carmichael has acted as lead manager to a $4.4 million capital raising by oil and gas explorer Rampart Energy.