Pilot Energy has received a $3.9 million Petroleum Resource Rent Tax refund linked to decommissioning activities at the Cliff Head Oil Field, reinforcing its shift toward clean energy projects.
Pilot Energy has locked in a $1.8 million convertible note funding deal led by Discovery Investments, fueling its transition from oil production to carbon storage at the Cliff Head site. The funding hinges on upcoming shareholder approval and replaces a previously stalled arrangement.
