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Month: June 2019

Oil price could fall to $30 if global deal not extended: Novak

June 11, 2019
| Archives

Russian Energy Minister Alexander Novak said on Monday he could not rule out a scenario in which oil prices could fall to $30 per barrel if the global oil deal was not extended. Novak said there were big risks of oversupply on the market and that Moscow needed to monitor the oil market more in order to be able to

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Stena Forth enroute to Guyana

June 10, 2019
| Archives

Colin Kinley, Chief Operating Officer commented: “The mobilization of the Stena Forth is the final stage of a long, conservative and quality-controlled process to plan and drill the initial two wells on Orinduik. The Block license was applied for in March 2014 and was awarded to Eco and Tullow in January 2016 with a first well commitment

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Popular News – Top 5 from this past week!

June 10, 2019
| Weekly Rundown

Below are our top 5 articles for the week of June 3 – June 9! #1 with 1,242 views Anadarko CEO gets $98 million payout #2 with 501 views Bassoe: Mexican companies scramble to find jackup rigs #3 with 156 views Petroserv’s SSV Catarina grabs JV contract working for ENI #4 with 138 views API releases drone guidance for oil and gas applications #5 with 122

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Angola kicks off six-year licensing cycle with 10 high-potential blocks

June 9, 2019
| Archives

Angola made another stride in becoming Africa’s hottest oil & gas frontier by launching the first phase of its brand new six-year oil licensing strategy.  The licensing round was launched by CEO of the National Agency of Petroleum, Gas and Biofuels (ANPG) H.E. Paulino Jerónimo during the opening ceremony of the Angola Oil & Gas Conference 2019, attended

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MHWirth strengthens U.S. manufacturing with $31.5 million buyout of Houston’s Bronco Manufacturing

June 9, 2019
| Archives

Akastor ASA’s wholly owned subsidiary MHWirth AS, has entered into agreements with Bronco Holdings LLC for the effective purchase of 100% ownership interests in Bronco Manufacturing LLC for a total consideration of USD 31.5 million. The agreements are formally entered into through MHWirth’s US subsidiary, MHWirth Inc. Bronco is a leading provider of critical aftermarket solutions and products

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Petroserv’s SSV Catarina grabs JV contract working for ENI

June 7, 2019
| Archives

A consortium of PT Java Star Rig, a joint venture of KS Drilling and Universal Energy Resources, has won a drilling contract from Eni East Sepinggan worth US $95m. Under the contract, the two firms will charter sixth-generation semi-submersible drilling rig SSV Catarina in Indonesia. The work is expected to begin in H2 2019. KS Drilling is an 80%-owned

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64 Rigs Added to May International Rig Count

June 7, 2019
| International Rig Count

Baker Hughes issued their international rig count data yesterday, here is the break down: The international rig count for May was 1,126, up 64 from the 1,026 counted in April, and up 159 from the 967 counted in May 2018. Latin America is down 11 units from the previous month to 179 and is down 5 units year-over-year. The Asia-Pacific

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U.S. -9 and Canada +18 on this weeks rig count

June 7, 2019
| Weekly Rig Count

Baker Hughes Rig Count: U.S. – 9 to 975 rigs U.S. Rig Count is down 9 rigs from last week to 975, with oil rigs down 11 to 789, gas rigs up 2 to 186, and miscellaneous rigs unchanged at 0. U.S. Rig Count is down 87 rigs from last year’s count of 1,062, with oil rigs down 73,

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Anadarko CEO gets $98 million payout

June 7, 2019
| Archives

Anadarko Petroleum CEO Al Walker will receive a golden parachute worth $98 million following the oil producer’s $38 billion sale to U.S. rival Occidental Petroleum. The payout is part of $300 million to be shared among six Anadarko senior executives, also including President Robert Gwin and CFO Ben Fink, according to a filing with the Securities and Exchange

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Bassoe: Mexican companies scramble to find jackup rigs

June 6, 2019
| Archives

Suddenly there’s a lot going on in the Mexican offshore rig market. So much that it’s confusing. Here’s your guide to what’s happening. It seems like yesterday that Pemex was renegotiating jackup rig contracts and putting rigs on standby as drilling demand in Mexico plummeted.  Oil production dropped from around 2.5 million barrels per day in 2013 to around 1.7 million

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