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Month: April 2019

Two drilling companies issue LOI to merge

April 5, 2019
| Archives

Atlantica Tender Drilling Ltd. (“Atlanticaâ€) and Energy Drilling Pte. Ltd. (“Energy Drillingâ€) have today signed a Letter Of Intent to merge the two companies. The contemplated transaction will create a stronger company with improved capabilities and geographical presence, a starting point for further growth and consolidation in the drilling industry. Atlantica is a leading owner and operator of

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International Rig Count Update

April 5, 2019
| International Rig Count

Baker Hughes issued their international rig count data last week, here is the break down: The international rig count for March was 1,039, up 12 from the 1,027 counted in February, and up 67 from the 972 counted in March 2018. Latin America is up 6 units from the previous month to 188 and is down 5 units year-over-year. The

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Oil in Longest Run of Weekly Gains Since 2017

April 5, 2019
| Archives

  (Bloomberg) — Oil in New York headed for the longest weekly winning streak since November 2017 as crises from Venezuela to Libya threatened supplies, while optimism over U.S.-China trade talks buoyed the outlook for demand. West Texas Intermediate futures were little changed, poised for a fifth weekly increase. OPEC cut production for a fourth month in March, while

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Newfoundland calling for bids

April 4, 2019
| Archives

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued Calls for Bids for Exploration Licences in the South Eastern Newfoundland and Jeanne d’Arc Regions. Call for Bids NL19-CFB01 (Exploration Licences, South Eastern Newfoundland Region) consists of nine parcels and a total of 2,270,472 hectares.Call for Bids NL19-CFB02 (Exploration Licences, Jeanne d’Arc Region) consists of four parcels and a total

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Maersk lands long term contract for the Deliverer, 3 years + options

April 3, 2019
| Archives

Today, Maersk Drilling announces that the ultra-deepwater semi-submersible Mærsk Deliverer has been awarded a three-year contract by Inpex Australia and joint venture participants for drilling at the Ichthys gas and condensate field in the Browse Basin offshore Western Australia. The estimated contract value (revenue) of the three-year contract is USD 300 million, including mobilisation. The contract is

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Borr Drilling Purchases Hull No. B378 former Hakuryu-15

April 1, 2019
| Archives

  Borr Drilling Limited (“Borr†or the “Companyâ€) is pleased to announce that it has completed the purchase and taken ownership of the jack-up newbuilding, Hull No. B378 (formerly named Hakuryu-15), for a total consideration of USD122 million from BOT Lease Co., Ltd. The original ordering price of the rig was approximately USD240 million. An important criteria for the transaction

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Saipem looking to sell off drilling fleet after 24% revenue decline last year

April 1, 2019
| Archives

  (Bloomberg) — Italian oil field services firm Saipem SpA is in discussions to sell both its offshore and onshore drilling units in separate transactions that would slice off about a 10th of the company’s annual sales, according to people familiar with the matter. The ailing offshore division, which suffered a 24% decline in revenue last year, could go

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Weekly Rundown – The top 5 stories from the past week

April 1, 2019
| Weekly Rundown

In the first spot this week is a good article about the recovery off the offshore sector, good news indeed, still a bit slow but proud it is picking back up, behind that we have Odfjell with the abundance of new hires needed to fill upcoming backlog from some well managed negotiations, great to see people going to work here! In

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