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Month: February 2020

Turkey receives EU sanctions over drilling in Cyprus’ economic zone

February 28, 2020
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The European Union blacklisted two Turkish nationals as retaliation over Ankara’s energy drilling off Cyprus in a move that has more political symbolism than economic punch. The EU asset freezes and travel bans on the two people, whom the bloc plans to identify later on Thursday, make good on its months-long vow to counter Turkey’s oil and natural-gas

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Borr: More than 40 additional rigs are required in 2020 to address planned activity

February 28, 2020
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  Borr Drilling Limited announced their unaudited results for the three- and twelve-months ended December 31, 2019. Highlights in the fourth quarter 2019 and full year 2019 Total operating revenues of $92.9 million, net loss of $69.3 million and Adjusted EBITDA of $1.8 million for the fourth quarter of 2019 Total operating revenues of $334.1 million, net loss of $308.1 million

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Maersk Convincer named jack-up of the year by Shell for second consecutive year

February 28, 2020
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Shell has chosen Maersk Convincer as Jack-up Rig of the Year 2019, recognising the rig’s successful operation offshore Brunei. The award is justified by consistent high performance across all parameters. In September 2017, Maersk Convincer arrived in Brunei to continue operations for Brunei Shell Petroleum as part of a successful customer relationship dating back to 2007. Since then,

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Lonestar Announces Eagle Ford Shale Joint Development Agreement

February 27, 2020
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Lonestar Resources US Inc. announced that it has entered into a Joint Development Agreement (“JDAâ€) in Gonzales County with one of the largest producers in the Eagle Ford Shale which encompasses an Area of Mutual Interest (“AMIâ€) totaling approximately 15,000 acres. The agreement calls for Lonestar to operate a minimum of 3 to 4 Eagle Ford Shale wells

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New oil and gas discoveries are set to transform the Caribbean regions

February 27, 2020
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On January 20, reports emerged that the Caribbean nation of Guyana had officially exported its first-ever shipment of crude oil. The one million barrels of sweet crude that were sent to the United States had been produced at the Stabroek Block’s Liza oil field, which thanks to operator ExxonMobil had made history in December by producing the

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Torchlight Energy strikes oil and gas at Orogrande test well

February 26, 2020
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Oil and gas exploration and production company Torchlight Energy Resources has struck oil and gas at one of its development wells in the Orogrande Basin in West Texas, US. The company has measured the substantial initial potential oil and gas hydrocarbon recoveries from the recently drilled and completed Cactus A35 #1H well. Torchlight Energy said it expects the new

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Dolphin Drilling lands work with Wellesley Petroleum

February 26, 2020
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Global contractor Dolphin Drilling has announced it has secured a one well plus one optional well with Wellesley Petroleum AS for a programme of drilling work on the Norwegian Continental Shelf. Bjørnar Iversen, chief executive of Dolphin Drilling, says, “This agreement further strengthens our operational backlog in Norway and builds on the resurgence of Dolphin.†“Dolphin Drilling is a

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Shell Plans Major Drilling in Mexico, But Oil May Take a Decade

February 26, 2020
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Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign

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