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Month: November 2018

Transocean Receives Overwhelming Approval from Shareholders on Ocean Rig Deal

November 30, 2018
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STEINHAUSEN, Switzerland, Nov. 29, 2018 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that its shareholders approved the acquisition of Ocean Rig UDW Inc. (“Ocean Rigâ€), by approving the proposals presented at Transocean’s Extraordinary General Meeting.  “We are extremely pleased that our shareholders have overwhelmingly approved our acquisition of Ocean Rig,†said Jeremy Thigpen, President and CEO.

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Northern Drilling to take early delivery of newbuild rig as Wintershall awards more work

November 30, 2018
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Offshore Energy Today Nov 30 2018 – John Fredriksen’s Northern Drilling has decided to take early delivery of its newbuild semi-submersible rig West Mira as a result of new options exercised under the rig’s contract with Wintershall. To remind, Wintershall last June awarded a firm six-well contract to the West Mira rig for operations at Wintershall’s Nova field. The contract

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Villagers Cut Pipeline on Election Irregularities

November 30, 2018
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Lima (AFP) Nov 29, 2018 – A Peruvian oil executive warned Wednesday of “catastrophe†after indigenous residents cut a major pipeline in a region of the Amazon, triggering the spill of 8,000 barrels of oil. “We could face an environmental catastrophe,†Beatriz Alva, a manager with state oil firm Petroperu, told channel N television. Alva gave the volume of

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Trio of Explorers Aim to Hit East Africa Gas Jackpot Once Again

November 30, 2018
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Bloomberg- A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery. Now financial backing from seasoned Africa explorer Tullow Oil Plc has given them the firepower to take another shot. Tullow on Thursday said it would take a stake in blocks off the

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Exxon Will Use Wind, Solar to Produce Crude Oil in Texas

November 30, 2018
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Bloomberg- Exxon Mobil Corp. will use renewable energy to produce oil in West Texas. Under 12-year agreements with Denmark’s Orsted A/S, Exxon will buy 500 megawatts of wind and solar power in the Permian Basin, the fastest growing U.S. oil field. It is the largest ever renewable power contract signed by an oil company, according to Bloomberg NEF. Terms

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Shale Patch Expected to Cut Budgets for First Time Since Last Crash

November 30, 2018
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Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. Bloomberg- U.S. benchmark oil prices have dropped by more than a third from an Oct. 3 high, the largest percentage decline since early 2016. On Thursday West Texas Intermediate briefly dropped below $50

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1500 bbl spill shuts down Husky’s Sea Rose FPSO in Newfoundland

November 28, 2018
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VOCM Newfoundland, Canada Nov 27 2018- Husky says it will not resume production on the SeaRose FPSO until Husky’s Senior VP in the Atlantic region and the C-NLOPB are satisfied that the integrity of production is where it needs to be. Officials have not yet been able to recover the flowline connector as the investigation into a spill

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Oil Exploration Activity Will Pick Up in 2019

November 28, 2018
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RIGZONE Nov 28 (Houston, Texas)- There will be a pick up in oil exploration activity next year, compared to 2018, according to a new report from Fitch Solutions Macro Research. “On an annual average basis, revenues will be boosted by higher oil prices, while still compressed services costs will flatter margins and bolster cash flows. This will give

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Pemex Triples Estimate for Biggest Onshore Find in 25 Years

November 28, 2018
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MEXICO CITY (Bloomberg) — Pemex has more than tripled its estimated reserves in its Ixachi field. The company now believes the onshore field in Veracruz contains 1.3 Bboe in proven, probable and possible, or “3P,†reserves, Petroleos Mexicanos exploration chief Jose Antonio Escalera said Tuesday at a press conference in Mexico City. Pemex expects the field to reach 80,000

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Ensign slams the door shut on Precision’s bid for Trinidad, comes out on top

November 28, 2018
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  CALGARY, Nov. 27, 2018 /CNW/ – Ensign Energy Services Inc. (TSX:ESI) (“Ensignâ€) announced today that the conditions to its offer for Trinidad Shares at $1.68 per share (the “Offerâ€) have been satisfied or waived and it has taken up the Trinidad Shares deposited to the Offer as of 10:00 a.m. on November 27, 2018. Approximately 56.38 per cent of the common shares (“Trinidad Sharesâ€) of Trinidad Drilling

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