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Month: February 2020

Interior Announces 78mm Acre Oil and Gas Lease Sale for Gulf of Mexico

February 12, 2020
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In support of President Trump’s America-First Offshore Energy Strategy, U.S. Secretary of the Interior David Bernhardt announced today that the Bureau of Ocean Energy Management (BOEM) will offer over 78 million acres for a region-wide lease sale scheduled for March 18, 2020. The sale would include all available unleased areas in federal waters of the Gulf of

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Zion Oil & Gas enters LOI for drilling rig purchase

February 12, 2020
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Zion Oil & Gas, Inc. (Nasdaq: ZN) announces they have entered a partially binding letter of intent to purchase a drilling rig and has formed two wholly owned subsidiary corporations. “We have signed a letter of intent to purchase a drilling rig for Zion’s ongoing 2020 exploration plans,†Zion’s COO, Robert Dunn said. “This rig will have increased

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Pacific Drilling announces appeal of arbitration decision

February 12, 2020
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Pacific Drilling announced today that its subsidiaries, Pacific Drilling VIII Limited (“PDVIIIâ€) and Pacific Drilling Services, Inc. (“PDSIâ€), have filed an application with the High Court in London for leave to appeal the award that has been issued in the arbitration proceedings between PDVIII and PDSI and Samsung Heavy Industries Co. Ltd. (“SHIâ€) related to the contract

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Noble announces continuation of drilling services with ExxonMobil In the Guyana-Suriname basin

February 11, 2020
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Noble Corporation plc and ExxonMobil today announced the execution of a unique commercial enabling agreement for drilling services in the Guyana-Suriname Basin. The agreement defines contract terms for the continuation of drilling services using certain drilling units in Noble’s fleet. The ultra-deepwater drillships Noble Bob Douglas, Noble Tom Madden and Noble Don Taylor, which are currently executing drilling assignments for ExxonMobil

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Defying expectations of a rise, global carbon dioxide emissions flatlined in 2019

February 11, 2020
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Despite widespread expectations of another increase, global energy-related carbon dioxide emissions stopped growing in 2019, according to IEA data released today. After two years of growth, global emissions were unchanged at 33 gigatonnes in 2019 even as the world economy expanded by 2.9%. This was primarily due to declining emissions from electricity generation in advanced economies, thanks to the expanding

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Northern Offshore and RigNet sign long term contract

February 11, 2020
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RigNet announced today that it has signed a long-term agreement with Northern Offshore, a global offshore drilling company, to provide various services to their fleet of rigs in the Middle East. Under this agreement, RigNet will provide several solutions including VSAT Managed Communications Services, CrewFlix Video on Demand, CrewHotspot internet, and Enhanced Cyber Services (ECS). “RigNet has demonstrated their ability to meet

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Giving up on oil and gas would be “a huge mistake†says Total CEO

February 11, 2020
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It is up to governments to drive decarbonization and consumers will have to pay more to achieve carbon neutrality, Total’s chief executive said, adding the French firm has no intention of moving away from oil and gas production. Oil firms should not be seen as “villains†amid growing pressure from investors and climate activists, chief executive and chairman

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Somalia president signs new petroleum bill into law

February 10, 2020
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Somali President Mohamed Abdullahi Farmajo has signed landmark petroleum legislation into law to help open up a new frontier market, the oil ministry said on Saturday. The upper house of Somalia’s parliament in January approved the petroleum law aimed at providing a regulatory framework that will help attract investment in exploration by major oil companies. “The Petroleum Law demonstrates

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Diamond 4Q results: $50mm added to the backlog with extension of the Ocean Patriot

February 10, 2020
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  Diamond announced their 4th Q results today: During 2019, the Company secured $620 million of backlog, including over $50 million secured in the fourth quarter related to a 12-month extension for the Ocean Patriot in the North Sea. As of January 1, 2020, the Company’s total contracted backlog was $1.6 billion, excluding approximately a $100 million margin commitment from

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