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Month: May 2018

Maersk Drilling Sellout Talks Still Hot | OutPut by Rig Lynx

May 18, 2018
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  Danish maritime industry giant A.P. Moller Maersk is still aiming to sell its offshore drilling and offshore supply vessel businesses by the end of 2018, despite recent reports claiming the drilling business sale might spill over into 2019. The company in 2016 split its business into one focused on shipping and logistics, and the other on the oil and gas

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A Streaming High? | OutPut by Rig Lynx

May 18, 2018
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Ten years ago, Netflix introduced a brand-new business model known as “streaming.†The idea began with a modest 1,000 titles, but the site now boasts over 100 million usersin more than 190 countries, consuming a massive 37 percent of all internet traffic at peak hours. Not only has this innovative idea revolutionized the way we consume media, it has popularized

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UK Secretary of State for Business Backs Fracking | OutPut by Rig Lynx

May 17, 2018
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  The Secretary of State for the UK’s Business, Energy and Industrial Strategy department has issued his backing for the UK’s onshore shale gas industry and set out a series of actions to support the development of shale gas extraction in the UK. “Further development of onshore gas resources has the potential to deliver substantial economic benefits to the

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What $90 a BBL Looks Like for the Shipping Revolution | OutPut by Rig Lynx

May 17, 2018
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Forget Iran and OPEC — there’s another issue that will keep oil prices supported for the next two years, according to Morgan Stanley. Brent crude will reach $90 a barrel by 2020 as new international shipping regulations take effect, overhauling the types of fuels produced by refiners, the bank’s analysts said in a report. The changes, which force vessels

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Keppel FELS Offload 5 More Hi-Spec Jackups | OutPut by Rig Lynx

May 17, 2018
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Brought to you from OutPut by Rig Lynx – Borr Drilling Limited (the “Company†or “Borr Drillingâ€) has placed USD350 million of convertible bonds with a coupon of 3.875% per annum and a conversion premium of 37.5% above a reference price of USD4.87/share. In connection with this placement the Company has also entered into a call spread, which increases the

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OPEC Raises Supply – IEA Cuts Demand ? | OutPut by Rig Lynx

May 16, 2018
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  Brought to you from OutPut by Rig Lynx – LONDON (Reuters) – Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. The Paris-based IEA cut its forecast for global demand growth to 1.4 million

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2 Billion Worth, Conoco Seizes Assets | OutPut by Rig Lynx

May 16, 2018
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Brought to you from OutPut by Rig Lynx – ConocoPhillips Chairman and Chief Executive Ryan Lance said the Houston oil producer is pressing forward with recouping the $2 billion it is owed by Venezuela. ConocoPhillips seized much of the oil storage and refining assets of Venezuela’s state-owned oil company, PDVSA, in the Caribbean islands of Curacao, Bonaire and Sint Eustatius in recent

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Bakken Not Dead Yet! | OutPut by Rig Lynx

May 16, 2018
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  Brought to you from OutPut by Rig Lynx – If North American oil production were a race, the Permian Basin would, of course, have lapped everyone else in the field long ago. But in this theoretical competition, the Bakken is neck and neck with the Eagle Ford, with each producing about 1.2 MMbbl/d, according to the U.S. Energy Information

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