The Insider’s weekly run-down of critical figures and happenings from around the energy world.
$200 million. Amount major energy private equity player Riverstone Holdings is investing into unconventional plays in western Canada, through an equity stake in privately-held Canadian International Oil Corp.
Canadian International is focused on the emerging Montney and Duvernay plays of the Canadian Deep Basin. An area that has recently seen a surge of development for both oil and liquids-rich gas.
The firm was founded in 2010 and holds an extensive land package totaling nearly 400,000 acres.
20. Number of new offshore exploration licenses awarded by former pariah nation Myanmar as part of its first modern licensing round.
The emerging Southeast Asian country has been closed to foreign investment for the better part of a half-century. Making it one of the last high-potential, under-explored petroleum frontiers in the world.
The draw of big discoveries here was enough to attract significant players including Shell, BG and Total. Who all walked away with new licenses. Juniors such as Roc Oil (ASX: ROC) also grabbed a piece of the action.
$60. Per-tonne operating cost paid by Indonesian coal miner Asia Resource Minerals Plc last year.
The company said last week that with local coal prices now running at around $56-$57 per tonne, it may be forced to idle some mines. Possibly including its largest pit—which sourced about half of the firm’s production last year.
The news is significant given that Asia Resource is Indonesia’s fifth-largest exporter of thermal coal. Reports suggest other coal miners in the country are experiencing similar difficulties—raising the possibility that considerable global export supply could be lost here if prices remain depressed.