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Month: August 2018

More mergers, Eclipse and Blue Ridge assets across the Utica and Marcellus | OutPut by Rig Lynx

August 28, 2018
| Archives

Eclipse Resources Corp., State College, Pa., and Blue Ridge Mountain Resources Inc., Irving, Tex., have agreed to merge in an all-stock transaction. The combine, with an enterprise value of $1.4 billion, will create a large, top-tier Appalachian energy company with 227,000 net effective undeveloped core acres across its Utica and Marcellus footprint with liquids-rich and dry gas

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8 Oil and Gas Industry Predictions | OutPut by Rig Lynx

August 27, 2018
| Archives

As oil prices tentatively recover from the 2014 crash and investments in alternative renewable energy sources gain momentum, oil and gas companies need to innovate to stay competitive and keep the fuel flowing. Offshore Technology asks industry experts for their insight into how technological advancements will shape the future of oil and gas. The future of oil and

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Black gold is not going away anytime soon | OutPut by Rig Lynx

August 27, 2018
| Archives

Oil, like money, still makes the world go around. Oil powers 99 percent of the world’s vehicles. Without it, one-third of everything that uses electricity would go dead. There wouldn’t be any airplanes in the sky. You might think that Priuses and solar panels are taking over – but they’ve actually hardly scratched the surface. Today, we – humankind

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What do cars and crayons have in common? | OutPut by Rig Lynx

August 27, 2018
| Archives

Edwin Binney and C. Harold Smith received an 1891 patent for an “Apparatus for the Manufacture of Carbon Black.â€Â Their refining process used petroleum to produce a fine, intensely black soot-like substance – a better pigment than any other in use at the time. The booming Pennsylvania oil  industry supplied the feedstock for the Easton-based Binney & Smith Company’s carbon

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Borr lands follow up work for 2018 and an LOI for work starting in 2019 | OutPut by Rig Lynx

August 26, 2018
| Archives

The company, owning 37 offshore rigs, on Thursday said the jack-up would work for Total in the Netherlands starting September. The rig’s previous contract with Perenco expired this month. According to Bassoe Analytics, the two-month contract is with Total in the Netherlands starting on September 25, 2018, ending late in November. Total will have an option to extend

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What’s next for Bahamas Petroleum? | OutPut by Rig Lynx

August 26, 2018
| Archives

BPC, which has been hoping to secure a farm-in partner for its offshore blocks in the Bahamas, had in May entered into in exclusive 3-month agreement with an unidentified oil major “in conducting an evaluation of the company’s licenses with a view to concluding a mutually beneficial commercial transaction.†However, in a stock exchange filing on Friday, BPC

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The first well ever logged | OutPut by Rig Lynx

August 25, 2018
| Archives

(Photo Source: Kern County Museum) It took until 1920 for Conrad Schlumberger to publish the results of the experimental surface resistivity measurements he had carried out since 1911. In the same year, Conrad and Marcel opened their first office at 30 rue Fabert in Paris. Conrad’s focus on making geophysical measurements became all-consuming now, prompting him to resign his professorship

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Canada oil by rail almost doubles | OutPut by Rig Lynx

August 25, 2018
| Archives

A Canadian energy regulator reported the average daily amount of crude oil exported by rail has nearly doubled from the previous year. Canada designates nearly all of its oil exports to the United States. For the last week in June, U.S. federal data show Canada exports to the United States were up 11.8 percent from the same time

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Rig count down by 9 this week | OutPut by Rig Lynx

August 25, 2018
| Weekly Rig Count

U.S. energy companies cut nine oil drilling rigs this week, the biggest reduction since May 2016, following a recent decline in crude prices. The oil rig count fell to 860 in the week to Aug. 24, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. U.S. crude futures, trading around $69 per

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