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Month: July 2018

China slowing import on higher oil prices and tighter tax | OutPut by Rig Lynx

July 16, 2018
| Archives

Oil demand growth in the world’s biggest oil importer—China—is at risk of slowing down, at least in the coming months. Higher oil prices play a role in this, but the main culprit is a new tighter tax regime on independent Chinese refiners, which is already choking the refining margins and profits of the so-called ‘teapots’ who have grown

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Noble lands 3 new contracts with Encana and Total | OutPut by Rig Lynx

July 16, 2018
| Archives

Offshore driller Noble Corporation has been awarded contracts for its jack-up drilling rigs in Canada, Denmark and the UK. In its latest fleet status report issued on Thursday Noble said that the 2013-built jack-up rig Noble Regina Allen has been awarded a contract with Encana for operations offshore Canada. The contract starts in mid-January 2020 with an end date set for

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Premier and Talos pick up the Ensco 8503 | OutPut by Rig Lynx

July 16, 2018
| Archives

A semi-submersible drilling rig that last year helped find the two-billion barrel Zama discovery, in what was Mexico’s first private offshore well in history, is set to return to the Mexican waters where the operator will be working to learn more about the discovery ahead of the final investment decision in 2019. In an operational update on Thursday, Premier

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Top Stories This Week | OutPut by Rig Lynx

July 15, 2018
| Weekly Rundown

Weatherford clawing back cash…. Financially struggling oilfield services firm Weatherford International finally has found a buyer to acquire its Middle East onshore drilling rig business for $287.5 million as part of its long-term divestiture plans. Weatherford, which is based largely out of Houston, has aimed to sell the business since early 2017. ADES International Holding, a company in the

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Today a bit was born | OutPut by Rig Lynx

July 14, 2018
| Archives

French tunnel engineer Rodolphe Leschot in 1863 patented a “Tool for Boring Rock†– a ring of industrial-grade diamonds on the end of a tubular drill rod and designed to cut a cylindrical core. Water pumped through the drill rod washed away cuttings and cooled the bit. Leschot’s system proved successful in drilling blast holes for tunneling Mount Cenis

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Rig count moves up slightly | OutPut by Rig lynx

July 14, 2018
| Weekly Rig Count

The US drilling rig count reached 1,054 units working for the week ended July 13, up 2 rigs from a week ago, according to Baker Hughes data. The count is up 102 units from this time a year ago when the count stood at 952. Offshore units remained unchanged from last week with 19 rigs working. A total

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Saudi investing $10 billion in this country’s energy future | OutPut by Rig Lynx

July 13, 2018
| Archives

Saudi Arabia will invest at least $10 billion in South Africa, mostly in the energy sector, including building oil refineries, the spokeswomen for South Africa’s president Cyril Ramaphosa said on Thursday. The move is part of Ramaphosa’s drive to attract $100 billion in investment to boost the ailing economy. The pledge was made by Saudi Crown Prince Mohammed bin

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Maersk lands two contract extensions | OutPut by Rig Lynx

July 13, 2018
| Archives

Maersk Drilling announced Friday that it has been awarded contract extensions for the Maersk Resolute and Maersk Resolve jack-up rigs, by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively, for operations in the North Sea. Maersk Resolute has been awarded a 56-day contract extension by Petrogas E&P Netherlands B.V., which will allow it to continue its work

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