May 17, 2020

Chevron Strikes Oil Twice in Gulf this Week

energy digital
Oil
Chevron
deepwater
Admin
1 min
Chevron leads in ultradeep water exploration
Chevron struck oil in a deepwater well in the Gulf of Mexico for a second time a week. Last Tuesday, the company discovered a large amount of oil at t...

 

Chevron struck oil in a deepwater well in the Gulf of Mexico for a second time a week.

Last Tuesday, the company discovered a large amount of oil at the Shenandoah-2 well, according to partners Anadarko Petroleum Corp and ConocoPhillips. Today, just 12 miles nearby and 190 miles off the coast of Louisiana, Chevron said its Walker Ridge Block 98 well in Coronado prospect encountered over 400 feet of net pay.

"Between the Coronado discovery, the potentially giant Shenandoah discovery, and our recent high bids on remaining open blocks in the Shenandoah/Coronado mini-basin, Venari is firmly positioned for significant growth in a future production hub in the Gulf," Venari Chief Executive Brian Reinsborough said.

Chevron is in the midst of completing a number of other expensive, large-scale projects in ultradeep waters of the Gulf of Mexico. By 2017, the company aims to boost its daily oil and natural-gas production to 3.3 million barrels from 2.7 million barrels it averaged in 2012.

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction. 

The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.

The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”

A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth. 

Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."

The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.

Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019. 

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