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Month: June 2019

Kongsberg grabs $40 million contract for Awilco newbuild controls with KeppelFELS

June 6, 2019
| Archives

Kongsberg Maritime has won its first milestone order for a major project combining KONGSBERG control and electrical systems with power, propulsion and mooring solutions. The contract is valued at approximately MNOK 350. The contract with Singapore’s KeppelFELS shipyard for a newbuild Awilco Drilling Owned Moss CS60Eco semi-submersible drilling rig covers a diverse technology and equipment package, previously not available

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Lukoil enters Republic of Congo for $800 million in cash

June 6, 2019
| Archives

PJSC LUKOIL concludes an agreement with New Age M12 Holdings Limited to acquire a 25% interest in the Marine XII license in the Republic of Congo for $800 mln in cash. The transaction is subject to customary conditions, including the approval by the government of the Republic of Congo. The Marine XII license covering 571 sq. km is

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API releases drone guidance for oil and gas applications

June 4, 2019
| Archives

The American Petroleum Institute (API) announced the publication of a new guide for using unmanned aerial systems (UAS), or drones, in oil and gas operations as part of its effort to further promote worker and operational safety. “Safety is always our industry’s top priority, and this guide ensures owners, operators, and service providers that are considering entering the

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30 companies awarded acreage offshore UK

June 4, 2019
| Archives

The Oil and Gas Authority (OGA) has offered for award 37 licence areas over 141 blocks or part-blocks to 30 companies in the 31stOffshore Licensing Round. These successful awards act as a strong platform for future exploration and production in frontier areas of the UK Continental Shelf (UKCS) in the Faroe-Shetland Basin, Moray Firth, East Irish Sea, East

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DOJ serves up a subpoena to Citgo

June 4, 2019
| Archives

Citgo Petroleum Corp. received a subpoena from the Department of Justice stemming from an investigation into bribery in Venezuela, indicating that the U.S. government is finally turning its attention to the company after years of prosecuting individuals. The Venezuelan-owned U.S. refiner has pledged full cooperation with the probe, without identifying the reason for the subpoena, it said Monday

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Bassoe – Floater Report

June 3, 2019
| Archives

The latest Bassoe Analytics floater report is out.   We’ve seen a slowdown in floater fixtures, but activity is expected to resume. Fixtures since our last report (including various exercised options) have been of short duration, and spot dayrates in benign environments are still subject to downward pressure. While contractor sentiment for the future is rising, current fundamental aspects of the market

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Top 5 Stories from the month of May

June 3, 2019
| Monthly Rundown

  Here are our top 5 stories from the month of May! #1 with 14,636 views Weatherford to file for Chapter 11 bankruptcy   #2 with 8,377 views Schlumberger sells off the drill pipe and fishing business for $400 million   #3 with 2,346 views Dolphin Drilling lets entire management team go   #4 with 798 views Transocean highlights new rig technology at Houston’s 50th OTC   #5 with 585 views Anadarko

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Popular News – Top 5 from this past week!

June 3, 2019
| Weekly Rundown

Below are our top 5 articles for the week of May 27 – June 2! #1 with 463 views Northern says “Drilling contractors are finally showing a more disciplined approached in contract tenders†during Q1 results #2 with 348 views Borr 1st Q results: Selling rigs and securing contracts #3 with 156 views Total purchase of ex-Anadarko assets to

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CNRL grabs up Devon Canada exit for $2.8 billion

June 2, 2019
| Archives

Devon Energy Corp. announced that it has entered into a definitive agreement to sell its Canadian business to Canadian Natural Resources Limited for CAD $3.8 billion, or USD $2.8 billion. This transaction is subject to customary terms and conditions and is expected to close by the end of the second quarter of 2019. Proceeds from the sale

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Northern says “Drilling contractors are finally showing a more disciplined approached in contract tenders†during Q1 results

June 2, 2019
| Archives

Highlights – First Quarter • Secured drilling contract for West Bollsta with Lundin Norway AS with expected commencement Q2 2020, adding backlog of approximately $200 million • Wintershall Norge AS exercised the third front end option for West Mira Subsequent Events • Exercised option to purchase Cobalt Explorer for $350 million and flexible delivery schedule into Q1

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