+1(833) 396-4204 info@riglynx.com
Menu

Month: July 2018

Top 5 for July | OutPut by Rig Lynx

July 31, 2018
| Monthly Rundown

->1 Shell announces $25 billion share “buyback†program (891 Views) Royal Dutch Shell plc announced the launch of a $25 billion share buyback program on Thursday. “Today, Shell starts a share buyback program of at least $25 billion in the period 2018-2020, subject to further progress with debt reduction and oil price conditions,†the company said in a statement on its

Read More...

History: In 2001 BP finds torpedoed U-Boat from 1942

July 31, 2018
| Archives

July 30, 1942 – U-Boat sunk in Gulf of Mexico, not identified until 2001 The U-166 was attacked and sunk by a Navy patrol boat just hours after the submarine had torpedoed and sunk a U.S. freighter. Despite being depth charged, the U-boat was believed to have escaped – until a natural gas pipeline survey revealed it decades later. The U-166’s identity was not learned

Read More...

Pioneer focuses just on the Permian super basin, selling off other assets | OutPut by Rig Lynx

July 31, 2018
| Archives

Pioneer Natural Resources Co. said July 31 it knocked out another target in its Permian pure-play strategy with the sale of its legacy West Panhandle position in Texas for $201 million. The sale with an undisclosed buyer represents a full-field exit for Pioneer and includes all of the Irving, Texas-based company’s interests in the field, producing wells and

Read More...

Everything is better in a boom, even the GDP | OutPut by Rig Lynx

July 31, 2018
| Archives

Higher oil prices this year boosted U.S. oil production, and the U.S. oil industry played a large part in America’s impressive second quarter economic growth—the fastest growth since the third quarter of 2014. Real U.S. gross domestic product (GDP) rose at an annual rate of 4.1 percent in the second quarter of 2018, according to the ‘advance’ estimate released by

Read More...

Shell grabs Naga 7 for work in Malaysia | OutPut by Rig Lynx

July 30, 2018
| Archives

The company, formerly known as UMW Drilling, said on Friday it would deploy the Naga 7 jack-up rig for the contract. According to Velesto, the estimated contract value is around $25 million, with the start date to be between August 1, 2018, and  September 30, 2018. The Naga 7, designed by Gusto MSC, was built in China in 2015. It’s

Read More...

Is big oil keeping downstream issues quiet | OutPut by Rig Lynx

July 30, 2018
| Archives

ExxonMobil, Shell and Chevron, the companies they lead, all missed earnings estimates due to issues with their downstream units. At a time when dedicated refiners such as Phillips 66 and Valero Energy Corp. have become the rock stars of the earnings season, the integrated oil majors are struggling to meet optimistic estimates largely based on rising crude

Read More...

Mexico’s president making new promises | OutPut by Rig Lynx

July 30, 2018
| Archives

Mexico’s newly elected president has pledged to boost the country’s long-neglected oil sector. Andrés Manuel López Obrador has said he is committed to recovering Mexico’s oil and gas output, which has declined over the past 14 years due to a lack of investment and natural reduction of oil fields. His’s proposals include a $4bn injection for state oil company

Read More...

Oil experts scratching head over the prices | OutPut by Rig Lynx

July 29, 2018
| Archives

Oil price projections are infamously all over the map, but the current chasm between various pricing forecasts is striking, offering wildly different views. On the low end we have Citibank, which recently stated that Brent oil prices could fall to as low as $45 per barrel within the next year. Citi’s Ed Morse said that Brent could very

Read More...