April 2020 - Rig Lynx

Halliburton follows Chevron in halting Venezuelan operations

April 24, 2020

Oilfield services provider Halliburton Co said on Friday it would cease most of its operations in Venezuela after the U.S. Treasury Department imposed tight new regulations on oil and gas companies doing business in the South American nation. Seeking to increase pressure on socialist President Nicolas Maduro, the U.S. Treasury late on Tuesday imposed restrictions on Chevron Corpâ€™s

Maersk Drilling looks to issue 250-300 redundancies

April 24, 2020

| Archives

The COVID-19 pandemic and the lower oil price environment are impacting offshore drilling activity. Some tenders and projects are being delayed or cancelled which adversely affects commercial prospects.Â In light of the current commercial outlook, Maersk Drilling intends to stack a number of the companyâ€™s North Sea rigs. As a consequence, Maersk Drilling proposes to reduce the offshore

North America Rig Count: U.S. down 64 and Canada down 4

April 24, 2020

| Weekly Rig Count

Baker Hughes Rig Count: U.S. -64 to 465 rigs U.S. Rig Count is down 64 rigs from last week to 465, with oil rigs down 60 to 378, gas rigs down 4 to 85, and miscellaneous rigs unchanged at 2. U.S. Rig Count is down 526 rigs from last yearâ€™s count of 991, with oil rigs down 427, gas

Saipem writes down $280 million on impairment

April 23, 2020

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Saipem: results for the first quarter of 2020 Highlights Strong liquidity and no significant debt maturity prior to 2022 following the early repayment of bonds, ensure flexibility in tackling the deteriorating environment. Quarterly financial results with â‚¬2.2 billion revenues and 11% adjusted EBITDA margin, supported by operational performance. Net debt pre IFRS16 amounted to â‚¬632 million euro, in line with expectations. Cost

Patterson-UTI sees 60% decline in activity

April 23, 2020

| Archives

Oilfield service firm Patterson-UTI Energy Inc on Thursday warned investors it would see a 60% decline in activity this year as shale companies slash spending and halt activity amid an unprecedented decline in oil prices. The company said it expects to exit the current quarter with about 70 rigs in operation, down from an average of 123 rigs

Tullow closes the deal on Uganda with $575 million in cash from Total

April 23, 2020

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Tullow Oil plc, issues the following update ahead of its Annual General Meeting which is being held via an audio cast at 12pm today. Details of how shareholders can join the Groupâ€™s AGM can be found at the end of this update and on www.tullowoil.com/AGM. This morning Tullow has issued a second press release detailing the sale of

Valaris show 5 new awards in recent fleet update status butâ€¦

April 23, 2020

| Archives

New Contracts & Extensions Since February 13, 2020 Fleet Status Report Floaters VALARIS MS-1 awarded a three-well contract with Santos offshore Australia that is expected to commence in first quarter 2021, with an estimated duration of 155 days VALARIS 8505 awarded a one-well contract with Lukoil Upstream Mexico that is expected to commence in mid-November, with an estimated duration of

Baker Hughes posts $10 billion loss

April 22, 2020

| Archives

Oilfield firm Baker Hughes Co on Wednesday reported a $10 billion first-quarter loss and revenue fell more than expected as an 80% plunge in oil prices crushed demand for services and equipment. Shares were down 4.5% in early trading, and are down roughly 50% year-to-date. Oil futures this week turned negative for the first time in history, with storage

Chevron barred from drilling, transporting oil in Venezuela

April 22, 2020

| Archives

Chevron has been banned from drilling or transporting oil in Venezuela and its assets there are â€œmothballedâ€ as the Trump administration cracks down on money going to the government of socialist President Nicolas Maduro, a senior U.S. official said. Seeking to mount pressure on Maduro, the U.S. Treasury Department late on Tuesday imposed tight new restrictions on Chevronâ€™s

Reliance Industries looks toward $5.7 billion Facebook deal

April 22, 2020

| Archives

Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industriesâ€™ digital arm, as it looks to roll out services for Indiaâ€™s grocers and small businesses by capitalizing on WhatsAppâ€™s extensive reach in the country. The deal announced on Wednesday is Facebookâ€™s biggest since its $22 billion buyout of WhatsApp in 2014 and will

Month: April 2020

Halliburton follows Chevron in halting Venezuelan operations

Maersk Drilling looks to issue 250-300 redundancies

North America Rig Count: U.S. down 64 and Canada down 4

Saipem writes down $280 million on impairment

Patterson-UTI sees 60% decline in activity

Tullow closes the deal on Uganda with $575 million in cash from Total

Valaris show 5 new awards in recent fleet update status butâ€¦

Baker Hughes posts $10 billion loss

Chevron barred from drilling, transporting oil in Venezuela

Reliance Industries looks toward $5.7 billion Facebook deal

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