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Month: July 2018

Trinidad in 5 year, 2 rig deal for Kuwait | OutPut by Rig Lynx

July 4, 2018
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CALGARY, June 28, 2018 /CNW/ – Trinidad Drilling Ltd. (TSX: TDG) (“Trinidad†or “the Companyâ€) is pleased to announce an award in Kuwait for two Trinidad Drilling International (TDI) joint venture rigs on a five-year contract. Trinidad expects that the joint venture rigs will begin operating by late in the first quarter or early in the second quarter of 2019. The contract has five-year,

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ROC signs up Naga 4 to 11 well deal

July 3, 2018
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The company, formerly known as UMW Oil & Gas, on Tuesday said its subsidiary Velesto Drilling received a Letter of Award from Roc Oil for a contract on the provision of a jack-up drilling rig for its D35 Phase 2 Infill Drilling Program. Velesto will assign its NAGA 4 jack-up unit for this contract. NAGA 4 is a

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Egypt oil and gas trading hub, backed by the World Bank? | OutPut by Rig Lynx

July 3, 2018
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The World Bank supports Egypt’s efforts to be a regional oil and gas trading hub, as several new gas projects started up recently in the Mediterranean country, the Egyptian Ministry of Petroleum said on Monday. World Bank Executive Director Merza Hasan is visiting Egypt and holding talks with Egypt’s Petroleum Minister Tarek El-Molla on cooperation between the World Bank and

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Refineries in US throw the throttle back | OutPut by Rig Lynx

July 3, 2018
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U.S. refiners have returned from maintenance with a vengeance, processing more than 18 million barrels a day of crude and other oils for the first time in the week ended June 22. What does that mean for the markets? Gasoline stockpiles have increased 2.9 percent in June, the biggest gain for the month since 2009. There’s enough supply

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8 Million barrels in tankers held offshore for as long as two months is rare | OutPut by Rig Lynx

July 2, 2018
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Four BP-chartered supertankers containing a total of 8 million barrels of oil have been held up off China’s east coast over the past two months, in a sign that slower demand from independent refiners may have caught traders off guard, Reuters reported on Friday, citing shipping data and trading and shipping sources. BP was one of the first Western oil

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Alameda and Zapato wells tendering up in Cuba | OutPut by Rig Lynx

July 2, 2018
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Permitting and Drilling Rig Preparatory work is continuing in Cuba in readiness for the planned drilling program in Block 9. From a permitting perspective, intermediate approvals are continuing to be obtained for both theAlameda and Zapato exploration wells as progress is made towards submissions for the final Approval to Drill permits. Civil works contract scope definition has progressed and the civil

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Oil prices hits 3 1/2 year high, here’s the rundown | OutPut by Rig Lynx

July 1, 2018
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U.S. sanctions likely to cut Iranian crude exports sharply * Supply disruptions, record demand leave little spare capacity * Russia, Saudi and U.S. output all close to 11 mln bpd (Updates market activity, prices, adds commentary; changes byline, dateline; previous LONDON) U.S. oil prices rose to a three-and-a-half year high on Thursday, bolstered by supply concerns due to U.S. sanctions

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