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Month: March 2020

Neptune Energy makes a discovery on Isabella

March 17, 2020
| Archives

Hydrocarbons were encountered in Upper Jurassic and Triassic sandstone reservoirs, with 64 metres net pay encountered, consisting of lean gas and condensate and high-quality light oil. The results of the well will be analysed to further evaluate the discovery, determine future appraisal activity and recoverable resources estimates. The well is now being plugged and abandoned. Jim House, CEO of

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Cushing storage tanks rates are surging

March 17, 2020
| Archives

Rates to store oil at one of the world’s biggest trading hubs are surging, as traders globally scramble to secure space in tanks to cope with slumping demand from the coronavirus outbreak and a flood of supply from the Saudi-Russia price war. The need for a place to park all that surplus crude is breathing new life into

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Popular News – Top 5 from this past week

March 16, 2020
| Weekly Rundown

Not going to lie… this last week was crazy… and all of you know this already! This past week we had 72.9k page views and the top 5 grabbed up 61k of them, below are our top 5 articles for the week of March 8 – March 14! #1 with 58k views Valaris DS 8 drops BOP stack off Angola #2

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Rig Lynx: Message to our readers and members about Covid-19

March 13, 2020
| Archives

  At Rig Lynx we consider all of our members extended family and would like to share some information about Covid-19. Currently Rig Lynx has members in 136 countries all over the world and most of these countries are being affected daily by the recent Covid-19 pandemic.  All of you either work domestically or internationally in the industry, have family

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Houston: Offshore Technology Conference (OTC) 2020 Postponed

March 13, 2020
| Archives

  Organizers of the Offshore Technology Conference (OTC) announced today that the event, planned for May 4-7, 2020, will be postponed until Q3 2020 due to “unprecedented global challenge associated with the current COVID-19 pandemic.â€Â  With severe global travel restrictions and considering the rapidly changing guidance from governments and companies, OTC has chosen to postpone the conference, and is

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Booking frenzy sends tanker rates soaring

March 13, 2020
| Archives

The cost to transport oil on supertankers soared on Thursday as major producers scrambled to secure vessels to ship more crude in a bid to regain market share and buyers took advantage of plunging oil prices. Freight charges to ship oil in very large crude carriers (VLCCs) from the Middle East, which is home to the largest OPEC

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Pacific Drilling bags a two well deal with Murphy in Mexico

March 12, 2020
| Archives

Pacific Drilling announced on Wednesday via its 4th quarter results that its drillship the Pacific Sharav had been awarded a new two-well contract by Murphy in Mexico. It is scheduled to start in November 2020 and end in February 2021. The rig’s dayrate under this contract is set at $230,000. Pacific Drilling CEO Bernie Wolford also added: “We

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TechnipFMC Awarded a Significant Contract for the BP Platina Field in Angola

March 12, 2020
| Archives

TechnipFMC has been awarded a significant integrated Engineering, Procurement, Construction and Installation (iEPCI™) contract from BP Angola for the Platina field development, located offshore Angola in Block 18 at water depths ranging from 1,200 to 1,500 meters. The contract covers the manufacture, delivery and installation of the subsea equipment including subsea trees, a production manifold with associated subsea control

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