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Month: February 2020

Alberta approves Suncor Energy oil sands project

February 20, 2020
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The Alberta provincial government said on Wednesday that it had approved Suncor Energy’s Meadow Creek West oil sands project, although other approvals are still needed. The 40,000-barrel-per-day project planned near Fort McMurray, Alberta, requires environmental licenses and development permits, and Suncor has not yet made a final decision on whether to build it.  If it proceeds, project construction is

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Noble Reports Fourth Quarter And Full Year 2019 Results

February 19, 2020
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Highlights and Recent Developments Expanded presence and positioning in the Guyana-Suriname basin following a uniqueCommercial Enabling Agreement (CEA) with ExxonMobil- Noble Sam Croft added to CEA with one-year contract award2019 operating days improved 18 percent with fleet uptime at 97 percentFourth quarter contract drilling services revenue totaled $441 million, inclusive of Noble Bully II contract buyout of $167

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Noble Corporation plc Announces Leadership Transition Plan

February 19, 2020
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  Julie J. Robertson to Transition to Executive Chairman of the Board of Directors Robert W. Eifler to Succeed Robertson as President and Chief Executive Officer Noble Corporation plc today announced that its Board of Directors is implementing a leadership transition plan that capitalizes on the strength of Noble’s management team. At the close of the Company’s next annual general meeting

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Talos Energy announces full year 2020 operating and financial guidance

February 19, 2020
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  Talos Energy Inc. announced full year 2020 operating and financial guidance. The Company also announced that it expects to close the previously announced acquisition of affiliates of ILX Holdings, among other entities (the “Acquired Assetsâ€, the “Acquisitionâ€, or the “Transactionâ€), on February 28, 2020. The Company expects to generate significant free cash flow in 2020, despite the recent

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Vaalco hits paydirt with Etame appraisal well

February 19, 2020
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VAALCO Energy, Inc. announced that the South East Etame 4P appraisal wellbore drilled from the VAALCO operated South East Etame North Tchibala (SEENT) platform offshore Gabon in the Etame Marin permit area successfully encountered oil sands in the Gamba formation. Cary Bounds, Chief Executive Officer, commented, “We are delighted by the continued success from our 2019/2020 drilling campaign,

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Unitization agreement signed between Trinidad, Tobago and Barbados for exploration of hydrocarbons

February 19, 2020
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Prime minister of the Republic of Trinidad and Tobago, Dr Keith Rowley and prime minister of Barbados, Mia Mottley signed a unitization agreement Monday, February 17, 2020, in Bridgetown, Barbados, for the exploration of hydrocarbon resources which straddle the maritime boundary shared by Trinidad and Tobago and Barbados. In his remarks to the media after the signing, Dr

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Transocean posts 4Q and 2019 full year results

February 18, 2020
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  Contract drilling revenues for the three months ended December 31, 2019, increased sequentially by $8 million, primarily due to rig reactivations, including of the ultra‑deepwater floaters Deepwater Mykonos and Deepwater Corcovado. The quarter was also favorably impacted by higher utilization on the rest of the company’s ultra‑deepwater fleet and a full quarter of revenues from the newbuild harsh environment floater Transocean Norge. These increases

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Italy’s Eni speaks about new find offshore Mexico

February 18, 2020
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Eni said on Monday it notched an offshore discovery just off Mexico’s southern Gulf Coast, marking “a potential commercial outcome†in its area because of other nearby prospects. The new find is believed to contain between 200 million and 300 million barrels of light oil at a water depth of 1,115 feet (340 m) and comes about two

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Mexico’s Pemex signs contracts for new oil projects

February 18, 2020
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Mexican national oil company Pemex has begun signing contracts with oilfield service firms specifically invited to submit bids for a new batch of priority exploration and production projects, the state-owned company’s chief executive said. CEO Octavio Romero said on the sidelines of an energy event in Ciudad del Carmen, home to numerous Pemex installations in the southern Gulf

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