Ensco Plc 6 Chesterfield Gardens London, W1J 5BQ Phone: +44 (0) 20 7659 4660 Company No

Total Page:16

File Type:pdf, Size:1020Kb

Ensco Plc 6 Chesterfield Gardens London, W1J 5BQ Phone: +44 (0) 20 7659 4660 Company No Ensco plc 6 Chesterfield Gardens London, W1J 5BQ Phone: +44 (0) 20 7659 4660 www.enscoplc.com Company No. 7023598 NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS to be held on 22 May 2017 The Annual General Meeting of Shareholders of Ensco plc ("Ensco," "we," "us," "our" or the "Company") will be held at the InterContinental London Park Lane, One Hamilton Place, Park Lane, London, W1J 7QY, United Kingdom, at 8:00 a.m. London time, on Monday 22 May 2017 (the "Meeting"). You will be asked to consider and to pass the resolutions below. Resolutions 12 and 13 will be proposed as special resolutions. All other resolutions will be proposed as ordinary resolutions. ORDINARY RESOLUTIONS 1. To re-elect, by way of separate ordinary resolutions, the nine Directors named in the accompanying proxy statement to serve until the 2018 Annual General Meeting of Shareholders. 2. To ratify the Audit Committee's appointment of KPMG LLP (U.S.) as our U.S. independent registered public accounting firm for the year ending 31 December 2017. 3. To appoint KPMG LLP (U.K.) as our U.K. statutory auditors under the U.K. Companies Act 2006 (to hold office from the conclusion of the Meeting until the conclusion of the next Annual General Meeting of Shareholders at which accounts are laid before the Company). 4. To authorise the Audit Committee to determine our U.K. statutory auditors' remuneration. 5. To approve an Amendment to the Ensco 2012 Long-Term Incentive Plan. 6. To approve the Directors' Remuneration Policy. 7. To cast a non-binding advisory vote to approve the Directors' Remuneration Report for the year ended 31 December 2016 (excluding the Directors' Remuneration Policy). 8. To cast a non-binding advisory vote to approve the compensation of our named executive officers. 9. To cast a non-binding advisory vote on the frequency of the non-binding advisory shareholder votes on compensation of our named executive officers. 10. To cast a non-binding advisory vote to approve the reports of the auditors and the directors and the U.K. statutory accounts for the year ended 31 December 2016. 11. To authorise the Board of Directors to allot shares, the full text of which can be found in "Resolution 11" of the accompanying proxy statement. SPECIAL RESOLUTIONS 12. To approve the general disapplication of pre-emption rights, the full text of which can be found in "Resolution 12" of the accompanying proxy statement. 13. To approve the disapplication of pre-emption rights in connection with an acquisition or specified capital investment, the full text of which can be found in "Resolution 13" of the accompanying proxy statement. Resolutions 1 through 11 will be proposed as ordinary resolutions, which means, assuming a quorum is present, each of Resolutions 1 through 11 will be approved if a simple majority of the votes cast are cast in favour thereof. Resolutions 12 and 13 will be proposed as special resolutions, which means, assuming a quorum is present, each of Resolutions 12 and 13 will be approved if 75% of the votes cast are cast in favour thereof. With respect to the non-binding, advisory votes on Resolutions 7, 8, 9 and 10, regarding the Directors' Remuneration Report, the compensation of our named executive officers, the frequency of the vote on the compensation of our named executive officers and the U.K. statutory reports and accounts, the result of the vote will not require the Board of Directors or any committee thereof to take any action. However, our Board of Directors values the opinions of our shareholders as expressed through their advisory votes on such non-binding resolutions and other communications. Accordingly, the Board of Directors will carefully consider the outcome of the advisory votes on Resolutions 7, 8, 9 and 10. Please review the proxy statement accompanying this notice for more complete information regarding the Meeting and the full text of the resolutions to be proposed at the Meeting. By Order of the Board of Directors, Michael T. McGuinty Senior Vice President, General Counsel and Secretary 31 March 2017 YOUR VOTE IS IMPORTANT. FOR SPECIFIC INSTRUCTIONS ON VOTING, PLEASE REFER TO THE INSTRUCTIONS INCLUDED WITH THE NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS OR THE PROXY CARD INCLUDED WITH THE PROXY MATERIALS. TABLE OF CONTENTS PROXY STATEMENT SUMMARY 1 ABOUT THE MEETING AND VOTING 4 OWNERSHIP OF VOTING SECURITIES 11 RESOLUTIONS 1a - 1i 12 RESOLUTIONS 2, 3, AND 4 16 CORPORATE GOVERNANCE 18 REPORT OF THE AUDIT COMMITTEE 24 COMPENSATION COMMITTEE REPORT 25 COMPENSATION DISCUSSION AND ANALYSIS 26 EXECUTIVE COMPENSATION 54 Summary Compensation Table 54 All Other Compensation Table 57 Grants of Plan-Based Awards Table 58 Outstanding Equity Awards at Fiscal Year-End Table 60 Option Exercises and Shares Vested Table 61 Nonqualified Deferred Compensation Table 61 Potential Payments Upon Termination or Change in Control 62 Director Compensation Table 68 RESOLUTION 5 69 RESOLUTION 6 81 RESOLUTION 7 81 RESOLUTION 8 81 RESOLUTION 9 82 RESOLUTION 10 82 RESOLUTION 11 83 RESOLUTIONS 12 AND 13 85 GENERAL AND OTHER MATTERS 86 SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE 87 HOUSEHOLDING OF SHAREHOLDER MATERIALS 87 IMPORTANT NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON 22 MAY 2017 87 INFORMATION CONCERNING SHAREHOLDER PROPOSALS FOR THE 2018 ANNUAL GENERAL MEETING OF SHAREHOLDERS 88 OTHER MATTERS 89 Annex 1 - Directors' Reports Annex 1 - 1 Annex 2 - 2012 Long Term Incentive Plan Annex 2 - 1 PROXY STATEMENT SUMMARY This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all of the information you should consider, and you should read the entire proxy statement carefully before voting. For more complete information regarding our 2016 fiscal performance, please review our annual report on Form 10-K for the period ended 31 December 2016. This proxy statement, our 2016 annual report and a proxy card are first being sent or distributed to shareholders on or about 10 April 2017. 2017 Annual General Meeting of Shareholders Time and Date: 8:00 a.m. London time Place: InterContinental London Park Lane, One Hamilton Place, Park Lane, London, W1J 7QY, United Kingdom Meeting Date: 22 May 2017 Record Date: 27 March 2017 2016 Business Overview Ensco is in the midst of an unprecedented downturn. The sustained decline in oil prices from 2014 highs has caused a significant decline in the demand for offshore drilling services as many of our customers’ projects became uneconomical. In response, customers have significantly reduced capital expenditures for offshore projects, including the cancellation or deferral of existing drilling programs, which has resulted in drilling contract cancellations and fewer market tenders and new drilling contracts. Declines in capital spending levels, together with the oversupply of rigs, have resulted in significantly reduced day rates and utilisation for the offshore drilling sector. We believe that the current market dynamics will not change until we see a sustained meaningful recovery in commodity prices sufficient to bring customer demand into balance with rig supply. During 2016, we took decisive action to improve capital management flexibility, restructure our fleet, reduce expenses and invest in initiatives that will enhance our operational and safety performance. As a result of these actions, we delivered high levels of operational performance - achieving record safety results and operational utilisation - while further streamlining our organisation and reducing our cost base. We believe that the Company’s achievements during 2016 will enable it to emerge from the current downcycle better positioned to succeed and, in turn, grow shareholder value. The following includes highlights of our 2016 achievements: • Operational Excellence: We continued to improve operational results by targeting equipment uptime and key safety metrics that led to industry-leading levels of customer satisfaction. • Sustainable Cost Control: We took various actions to further manage and reduce costs in response to deteriorating market conditions, which contributed in part to our financial results. • Management Systems: We continued our multi-year initiative to redefine, simplify and standardise our management systems to enable improved efficiency, procedural adherence and self-verification. • Capital Management and Liquidity: Building upon the steps we took in 2015, we took several additional actions to improve our capital management flexibility and liquidity. • Human Capital: We took actions to address areas such as nationality and gender diversity, performance and succession management and competency management. • Service Efficiency: We took various actions to improve business efficiency and service delivery for our customers. • Strategic Execution: We continued to focus on high-grading our fleet and innovative fleet improvements, the evaluation of other strategic opportunities and backlog. 1 For further details about our 2016 operational and financial achievements, see "Compensation Discussion and Analysis- Executive Summary - 2016 Business Achievements." Executive Compensation Philosophy Our executive compensation philosophy is based on the principles that the creation of long term shareholder value is the most important measure of executive officer performance and that this principle should be reflected in overall compensation. The business objectives against which we measure our performance include: • profitable
Recommended publications
  • 2021 Annual General Meeting and Proxy Statement 2020 Annual Report
    2020 Annual Report and Proxyand Statement 2021 Annual General Meeting Meeting General Annual 2021 Transocean Ltd. • 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT • 2020 ANNUAL REPORT CONTENTS LETTER TO SHAREHOLDERS NOTICE OF 2021 ANNUAL GENERAL MEETING AND PROXY STATEMENT COMPENSATION REPORT 2020 ANNUAL REPORT TO SHAREHOLDERS ABOUT TRANSOCEAN LTD. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services, and operates one of the most versatile offshore drilling fleets in the world. Transocean owns or has partial ownership interests in, and operates a fleet of 37 mobile offshore drilling units consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships. Our shares are traded on the New York Stock Exchange under the symbol RIG. OUR GLOBAL MARKET PRESENCE Ultra-Deepwater 27 Harsh Environment 10 The symbols in the map above represent the company’s global market presence as of the February 12, 2021 Fleet Status Report. ABOUT THE COVER The front cover features two of our crewmembers onboard the Deepwater Conqueror in the Gulf of Mexico and was taken prior to the COVID-19 pandemic. During the pandemic, our priorities remain keeping our employees, customers, contractors and their families healthy and safe, and delivering incident-free operations to our customers worldwide. FORWARD-LOOKING STATEMENTS Any statements included in this Proxy Statement and 2020 Annual Report that are not historical facts, including, without limitation, statements regarding future market trends and results of operations are forward-looking statements within the meaning of applicable securities law.
    [Show full text]
  • Empirical Inference of Related Trading Between Two Securities: Detecting Pairs Trading, Merger Arbitrage, and Strategy Rules*
    Empirical inference of related trading between two securities: Detecting pairs trading, merger arbitrage, and strategy rules* Keith Godfrey The University of Western Australia Working paper: 5 September 2013 The traditional approach to studying pairs trading is to simulate profitability using ex-post historical prices. I study the actual trades reported anonymously in security pairs and build statistical inferences of related trading. The approach is based on the time differences between trades. It can distinguish intrinsically related securities from pseudo-random sets, find stocks involved in merger arbitrage in massive sets of paired index constituents, and infer dominant trading rules of mean reversion algorithms. Empirical inference of related trading can enable further studies into pairs trading, strategy rules, merger arbitrage, and insider trading. Keywords: Inferred trading, empirical inference, pairs trading, merger arbitrage. JEL Classification Codes: G00, G10, C10, C40, C60 The availability of intraday trading or “tick” data with time resolution of a millisecond or finer is opening many avenues of research into financial markets. Analysis of two or more streams of tick data concurrently is becoming increasingly important in the study of multiple-security trading including index tracking, pairs trading, merger arbitrage, and market-neutral strategies. One of the greatest challenges in empirical trading research is the anonymity of reported trades. Securities exchanges report the dates, times, prices, and volumes traded, without identifying the traders. In studies of a single security, this introduces uncertainty of whether each market order that caused a trade was the buy or sell order, and there are documented approaches of inference such as Lee and Ready (1991).
    [Show full text]
  • To Arrive at the Total Scores, Each Company Is Marked out of 10 Across
    BRITAIN’S MOST ADMIRED COMPANIES THE RESULTS 17th last year as it continues to do well in the growing LNG business, especially in Australia and Brazil. Veteran chief executive Frank Chapman is due to step down in the new year, and in October a row about overstated reserves hit the share price. Some pundits To arrive at the total scores, each company is reckon BG could become a take over target as a result. The biggest climber in the top 10 this year is marked out of 10 across nine criteria, such as quality Petrofac, up to fifth from 68th last year. The oilfield of management, value as a long-term investment, services group may not be as well known as some, but it is doing great business all the same. Its boss, Syrian- financial soundness and capacity to innovate. Here born Ayman Asfari, is one of the growing band of are the top 10 firms by these individual measures wealthy foreign entrepreneurs who choose to make London their operating base and home, to the benefit of both the Exchequer and the employment figures. In fourth place is Rolls-Royce, one of BMAC’s most Financial value as a long-term community and environmental soundness investment responsibility consistent high performers. Hardly a year goes past that it does not feature in the upper reaches of our table, 1= Rightmove 9.00 1 Diageo 8.61 1 Co-operative Bank 8.00 and it has topped its sector – aero and defence engi- 1= Rotork 9.00 2 Berkeley Group 8.40 2 BASF (UK & Ireland) 7.61 neering – for a decade.
    [Show full text]
  • Preparing for Carbon Pricing: Case Studies from Company Experience
    TECHNICAL NOTE 9 | JANUARY 2015 Preparing for Carbon Pricing Case Studies from Company Experience: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company Acknowledgments and Methodology This Technical Note was prepared for the PMR Secretariat by Janet Peace, Tim Juliani, Anthony Mansell, and Jason Ye (Center for Climate and Energy Solutions—C2ES), with input and supervision from Pierre Guigon and Sarah Moyer (PMR Secretariat). The note comprises case studies with three companies: Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E). All three have operated in jurisdictions where carbon emissions are regulated. This note captures their experiences and lessons learned preparing for and operating under policies that price carbon emissions. The following information sources were used during the research for these case studies: 1. Interviews conducted between February and October 2014 with current and former employees who had first-hand knowledge of these companies’ activities related to preparing for and operating under carbon pricing regulation. 2. Publicly available resources, including corporate sustainability reports, annual reports, and Carbon Disclosure Project responses. 3. Internal company review of the draft case studies. 4. C2ES’s history of engagement with corporations on carbon pricing policies. Early insights from this research were presented at a business-government dialogue co-hosted by the PMR, the International Finance Corporation, and the Business-PMR of the International Emissions Trading Association (IETA) in Cologne, Germany, in May 2014. Feedback from that event has also been incorporated into the final version. We would like to acknowledge experts at Royal Dutch Shell, Rio Tinto, and Pacific Gas and Electric Company (PG&E)—among whom Laurel Green, David Hone, Sue Lacey and Neil Marshman—for their collaboration and for sharing insights during the preparation of the report.
    [Show full text]
  • A New Inquiry by the Science & Innovation Committee
    Committee Secretary Standing Committee on Science and Innovation House of Representatives Parliament House CANBERRA ACT 2600 Email [email protected] Dear Committee-members, I am pleased to provide the response of the Australian Geoscience Council to the Inquiry by the House of Representatives Standing Committee on Science and Innovation into Australian technological innovation and pathways to commercialisation. The Australian Geoscience Council is the Peak Council of geoscientists in Australia. It represents nine major Australian geoscientific societies and has a membership of over 7000 professionals. We believe that the geosciences are critical for Australia, as shown by the accompanying sample of innovative technology case studies in the geosciences. Our submission is made in four parts: • This cover letter and a one page Executive Summary containing the Geoscience Council’s eight recommendations, • Eleven pages responding to the eight Terms of Reference for the Inquiry and developing the rationale behind the Geoscience Council’s recommendations, • Twenty one appendices (pages 14 to 46), each providing a summary case study of technological innovation in the geosciences, • Appendix 22 (page 47) which describes a relevant activity from another country. The resource industry in Australia is characterised by sustained innovation, and the sector continues to create new wealth for Australia with long lead times. Resources (including gold) achieved more of Australia’s export earnings in 2004 than any other sector, while also delivering employment and other flow-on benefits to the community in both urban and remote regions. However, these achievements derive from successful exploration of decades past. In order to project past performance into the future, Australia needs greater innovation in technologies, concepts and knowledge, as well as sustained levels of qualified people.
    [Show full text]
  • OF the SECURITIES EXCHANGE ACT of 1934 (Amendment No
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant ¨ Check the appropriate box: ¨ Preliminary Proxy Statement ¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement ¨ Definitive Additional Materials ¨ Soliciting Material under §240.14a-12 Schlumberger N.V. (Schlumberger Limited) (Name of Registrant as Specified in Its Charter) Name of Person(s) Filing Proxy Statement if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. ¨ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: ¨ Fee paid previously with preliminary materials. ¨ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1)
    [Show full text]
  • Technical Programme
    DAY ONE TUESDAY 23 NOVEMBER 2021 TECHNICAL PROGRAMME 08:30 - 09:30 Conference, Exhibition and Registration Open 09:30 - 10:00 Keynote Address: Phil Kirk | Harbour Energy AUDITORIUM 10:00 - 10:30 Keynote Address: TotalEnergies Exploration for the Future | Emmanuelle Garinet, TotalEnergies 10:30 - 11:15 | Refreshment Break & Exploring the Exhibition Exploration: UK Multi-azimuth seismic Machine Learning / Digital A Pressure Cell Summary of the Highly Multi-azimuth Acquisition and High- Mining Data at Scale Using Deep Prospective Central North Sea HPHT resolution Model Building and Imaging Learning 11:15 - 11:45 Domain from Shallow to Deep Reservoir - A Case Chin Hang Lun, CGG Eva Zimmer, Oil & Gas Authority Study from Offshore Morocco Andrew Furber, WesternGeco Revealing the Zechstein Potential of the Improved Imaging Of The Marte Leveraging Supervised Machine Mid North Sea High, UK Reservoir With A Multi Azimuth Q-FWI Learning for Rapid Lithology Prediction 11:45 - 12:15 Neil Hurst, ION Model Rebecca Head, Halliburton John Northall, BP HALL 1 HALL 2 HALL 3 Characterising Basement and Calibrating A Novel and Efficient Multi-azimuth Petrographic Thin Section Analysis with Thermal History to Further the Towed-streamer Solution to Address Machine Learning Understanding of Petroleum Systems in Complex Illumination Challenges, Edward Jarvis, CGG 12:15 - 12:45 the Faroe-Shetland Basin Established in the Viking Graben, North Julian Moore, Applied Petroleum Sea Technology Julien Oukili, PGS 12:45 - 13:45 | Lunch & Exploring the Exhibition Exploration:
    [Show full text]
  • BP Plc Vs Royal Dutch Shell
    FEBRUARY 2021 BP plc Vs Royal Dutch Shell 01872 229 000 www.atlanticmarkets.co.uk www.atlanticmarkets.co.uk BP Plc A Brief History BP is a British multinational oil and gas company headquartered in London. It is one of the world’s oil and gas supermajors. · 1908. The founding of the Anglo-Persian Oil Company, established as a subsidiary of Burmah Oil Company to take advantage of oil discoveries in Iran. · 1935. It became the Anglo-Iranian Oil Company · 1954. Adopted the name British Petroleum. · 1959. The company expanded beyond the Middle East to Alaska and it was one of the first companies to strike oil in the North Sea. · 1978. British Petroleum acquired majority control of Standard Oil of Ohio. Formerly majority state-owned. · 1979–1987. The British government privatised the company in stages between. · 1998. British Petroleum merged with Amoco, becoming BP Amoco plc, · 2000-2001. Acquired ARCO and Burmah Castrol, becoming BP plc. · 2003–2013. BP was a partner in the TNK-BP joint venture in Russia. Positioning BP is a “vertically integrated” company, meaning it’s involved in the whole supply chain – from discovering oil, producing it, refining it, shipping it, trading it and selling it at the petrol pump. BP has operations in nearly 80 countries worldwide and has around 18,700 service stations worldwide. Its largest division is BP America. In Russia, BP also own a 19.75% stake in Rosneft, the world’s largest publicly traded oil and gas company by hydrocarbon reserves and production. BP has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index.
    [Show full text]
  • First Name Surname Company Job Title Rob Adams PGS Business
    First Name Surname Company Job Title Rob Adams PGS Business Development Nicola Adams BP Exploration Manager Jim Ahmad Delonex Energy UK Ltd Business Manager Andy Amey Shell International New Ventures Team Lead David Anderson Kana Consultants Operations Manager James Andrew CGG Multi-Physics - Business Development Manager Graziano Ardenghi ENI SPA Exploration Project Manager Peter Aslett ION Business Development Director Peter Baillie CGG SVP Business Development Simon Baker RPS Geological Advisor Dean Baker RISC Senior Consultant - Geoscience Rajeevan Balakumar Petronas Manager/Geologist Jason Banks Indalo Director Nazrin Banu Petronas Manager Ian Baron Arab Oil Director Zamri Baseri Petronas Head Block Promotion Adam Becis ERC Equipoise Reservoir Engineer Alastair Bee Westwood Global Energy Group Senior Associate Graham Bell ERC Equipoise Director Clyde Bennett New Zealand Oil & Gas Business Development Advisor Thomas Bernecker Australian Government Manager Stephanie Best PESGB Operations Clement Blaizot Geospace Chief Executive Greg Blower Gaia Earth Operations Consultant John Boldock Geo Brokers Pty Ltd Sales Manager Christopher Boot Canesis Data Director David Boote DBConsulting Ltd Director Adam Borushek RISC Reservoir Engineer Steven Bottomley New Zealand Oil & Gas Consultant Lawrence Bourke Task Fronterra (Asia) Pty. Ltd. CEO Edwin Bowles KrisEnergy General Manager - Bangladesh David Bowling Baker Hughes Geomechanics Sales Lead, APAC Ginny-Marie Bradley University of Manchester PhD Research Postgraduate Student Paul Bransden Mubadala
    [Show full text]
  • Foreign Investment in the Oil Sands and British Columbia Shale Gas
    Canadian Energy Research Institute Foreign Investment in the Oil Sands and British Columbia Shale Gas Jon Rozhon March 2012 Relevant • Independent • Objective Foreign Investment in the Oil Sands and British Columbia Shale Gas 1 Foreign Investment in the Oil Sands There has been a steady flow of foreign investment into the oil sands industry over the past decade in terms of merger and acquisition (M&A) activity. Out of a total CDN$61.5 billion in M&A’s, approximately half – or CDN$30.3 billion – involved foreign companies taking an ownership stake. These funds were invested in in situ projects, integrated projects, and land leases. As indicated in Figure 1, US and Chinese companies made the most concerted efforts to increase their profile in the oil sands, investing 2/3 of all foreign capital. The US and China both invested in a total of seven different projects. The French company, Total SA, has also spread its capital around several projects (four in total) while Royal Dutch Shell (UK), Statoil (Norway), and PTT (Thailand) each opted to take large positions in one project each. Table 1 provides a list of all foreign investments in the oil sands since 2004. Figure 1: Total Oil Sands Foreign Investment since 2003, Country of Origin Korea 1% Thailand Norway 6% UK 7% 2% US France 33% 18% China 33% Source: Canoils. Foreign Investment in the Oil Sands and British Columbia Shale Gas 2 Table 1: Oil Sands Foreign Investment Deals Year Country Acquirer Brief Description Total Acquisition Cost (000) 2012 China PetroChina 40% interest in MacKay River 680,000 project from AOSC 2011 China China National Offshore Acquisition of OPTI Canada 1,906,461 Oil Corporation 2010 France Total SA Alliance with Suncor.
    [Show full text]
  • Chapter 11 ) VALARIS PLC, Et Al.,1 ) Case No
    Case 20-34114 Document 105 Filed in TXSB on 08/23/20 Page 1 of 4 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ) In re: ) Chapter 11 ) VALARIS PLC, et al.,1 ) Case No. 20-34114 (MI) ) Debtors. ) (Jointly Administered) ) (Emergency Hearing Requested) DEBTORS’ AMENDED WITNESS LIST AND EXHIBIT LIST FOR MATTERS SET FOR AUGUST 24, 2020 The above-captioned debtors and debtors in possession (collectively, the “Debtors”) file their Amended Witness and Exhibit List for the hearing to be held on August 24, 2020, at 10:00 a.m. (prevailing Central Time) (the “Hearing”) as follows.2 Witnesses The Debtors may call the following witnesses at the Hearing:3 1. Jonathan Baksht, Executive Vice President and Chief Financial Officer of Valaris PLC; 2. James Sean McGuire, Director, Stretto; 3. any witness listed by any other party; and 4. rebuttal witnesses as necessary. 1 A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors’ proposed claims and noticing agent at http://cases.stretto.com/Valaris. The location of Debtor Ensco Incorporated’s principal place of business and the Debtors’ service address in these chapter 11 cases is 5847 San Felipe Street, Suite 3300, Houston, Texas 77057. 2 The Debtors reserve the right to amend this Witness and Exhibit List after reviewing any objections. 3 The Debtors reserve the right to cross-examine any witness called by any other party at the Hearing. 1 Case 20-34114 Document 105 Filed in TXSB on 08/23/20 Page 2 of 4 Exhibits4 Object Admit Mark Offer Disposition No.
    [Show full text]
  • How Do Extractive Companies Measure and Report Their Social Performance? Review of Approaches to Impact Assessment
    ECONOMIC AND PRIVATE SECTOR PROFESSIONAL EVIDENCE AND APPLIED KNOWLEDGE SERVICES HELPDESK REQUEST How do extractive companies measure and report their social performance? Review of approaches to impact assessment Carolin Williams ODI April 2014 How do extractive companies measure and report their social performance? EPS-PEAKS is a consortium of organisations that provides Economics and Private Sector Professional Evidence and Applied Knowledge Services to the DfID. The core services include: 1) Helpdesk 2) Document library 3) Information on training and e-learning opportunities 4) Topic guides 5) Structured professional development sessions 6) E-Bulletin To find out more or access EPS-PEAKS services or feedback on this or other output, visit the EPS- PEAKS community on http://partnerplatform.org/eps-peaks or contact Yurendra Basnett, Knowledge Manager, EPS-PEAKS core services at [email protected]. Disclaimer Statement: The views presented in this paper are those of the authors and do not necessarily represent the views of Consortium partner organisations, DFID or the UK Government. The authors take full responsibility for any errors or omissions contained in this report. 2 How do extractive companies measure and report their social performance? Table of Contents 1 Query and approach 4 2 Individual company level reviews of social performance reporting 6 2.1 Anglo American 6 2.2 BG Group 11 2.3 BHP Billiton 13 2.4 BP 17 2.5 Newmont 19 2.6 Rio Tinto 21 2.7 Royal Dutch Shell 24 2.8 Tullow Oil 27 3 Headlines from reviews of companies’ social performance reporting 30 3 How do extractive companies measure and report their social performance? 1 Query and approach Extractive companies tend to spend significant amounts on community based development projects to improve their social performance.
    [Show full text]