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Month: November 2018

Texas is About to Create OPEC’s Worst Nightmare

November 21, 2018
| Archives

Bloomberg: The map lays out OPEC’s nightmare in graphic form. An infestation of dots, thousands of them, represent oil wells in the Permian basin of West Texas and a slice of New Mexico. In less than a decade, U.S. companies have drilled 114,000. Many of them would turn a profit even with crude prices as low as $30

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Rowan and Ensco announce early termination of HSR waiting period

November 21, 2018
| Archives

LONDON, Nov. 20, 2018 /PRNewswire/ — Rowan Companies plc (NYSE: RDC) (“Rowanâ€) and Ensco plc (NYSE: ESV) (“Enscoâ€) jointly announced today that they have received notice from the Department of Justice and the Federal Trade Commission granting early termination of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR Actâ€), with respect

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Rowan Reliance will stay stacked, contract transferred to the Resolute

November 21, 2018
| Archives

  HOUSTON, Nov. 21, 2018 /PRNewswire/ — Rowan Companies plc (“Rowan†or the “Companyâ€) (NYSE: RDC) announced today that the previously disclosed contract with Fieldwood Energy LLC (Fieldwood) for the Rowan Reliance will be transferred to the Rowan Resolute under the same contractual terms, which includes a one-year, firm term plus three 90-day options. The Company also announced that LLOG

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Trident XIV gets 1 year extension with options

November 20, 2018
| Archives

Dubai, November 20, 2018 – Shelf Drilling, Ltd. announced today that it has secured a one-year extension on the Trident XIV jack-up rig in direct continuation of its current contract for workover operations offshore Nigeria. The expected availability of the rig is now February 2020. Furthermore, an option to extend the contract by a year exists. David Mullen, Chief

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Pacific Drilling emerges from Chapter 11

November 20, 2018
| Archives

LUXEMBOURG–(BUSINESS WIRE)– Pacific Drilling S.A. (OTC: PACDQ) (the “Companyâ€) announced that effective today the Company and certain of its affiliated chapter 11 debtors have emerged from bankruptcy after successfully completing restructuring transactions pursuant to their chapter 11 plan of reorganization (the “Planâ€). In connection with emergence from bankruptcy, the Company raised $1.5 billion in gross proceeds in new capital, consisting of

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West Aquarius slated for visit to Bull Arm in NL prior to drilling offshore in 2019

November 20, 2018
| Archives

Local contractor DF Barnes has been awarded a contract by Seadrill that will bring the ultra-deepwater semi-submersible drilling rig, West Aquarius, to the Bull Arm fabrication site. Nalcor Energy-Bull Arm Fabrication has signed a short-term agreement for the fabrication yard with DF Barnes that will see work begin at site in December and continue into spring 2019. The work

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Ensign pulls ahead of Precision in buying of Trinidad

November 20, 2018
| Archives

Ensign Energy Services Inc. may have taken the upper hand in the battle to acquire Trinidad Drilling Ltd. after giving shareholders a tighter deadline to accept its cash offer or settle for a lower all-stock bid from Precision Drilling Corp. Canadian oilfield-services provider on Friday accelerated the expiration of its cash bid by more than two weeks to Nov. 27, giving rival Precision Drilling’s

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15 Rescued from the Ram XVIII near Grand Isle

November 18, 2018
| Archives

The Coast Guard and good Samaritan vessels have helped rescue 15 people from a lift boat near Grand Isle today. The Coast Guard was called at about 3:16 a.m. Sunday from a lift boat, Ram XVIII, which was taking on water about 23 nautical miles west of Southwest Pass. There were 15 souls on board. Sector watchstanders issued an

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OutPut’s Weekly Top 5

November 18, 2018
| Weekly Rundown

This week at the top of the list is a piece on some of the geo political issues as well as the volatile, knee jerk reactions causing the sharp drop in oil prices this past week, just behind this is Stena going into a conflict zone to kick off drilling in Cypress, in the number three spot

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