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Month: August 2020

Borr Drilling announces new CEO

August 10, 2020
| Archives

Borr Drilling Limited is pleased to announce the appointment of Patrick Schorn as its new Chief Executive Officer with effect from 8 September 2020.  Mr. Schorn will succeed Svend Anton Maier who will remain with the Company as Special Advisor to the Chief Executive Officer.  Mr Schorn has been a Director of the Company since January 2018. Paal

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Weatherford appoints new Executive Vice President and CFO

August 10, 2020
| Archives

Weatherford International plc announced today H. Keith Jennings will join the company as Executive Vice President and Chief Financial Officer, effective September 1, 2020. Mr. Jennings joins Weatherford with more than 25 years of international financial leadership with multinational enterprises, both public and private. Mr. Jennings joins us from Calumet Specialty Products Partners L.P. (Nasdaq:CLMT), where he served as an Executive Vice President and Chief Financial Officer. Karl

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International Rig Count Down 34 Units in July

August 9, 2020
| International Rig Count

Baker Hughes issued their international rig count data, here is the breakdown: The international rig count for July was 743, down 34 units from the count in June and down 419 from the 1,162 counted in July 2019. Latin America is up 3 units to 74 from the June count of 71 units and is down 127 units year-over-year. The Asia-Pacific region is down 4 units to 193 from the June count of

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Rig Lynx Weekly Rundown – Top 5 from week 32

August 9, 2020
| Weekly Rundown

Welcome back! If you missed any of the trending articles from last week we got them all here for you to start your week off with For week 32, Aug 02 - Aug 8, we had 4k page views, and below are the top 5 Have a great week ahead! Transocean buys into Enhanced Drilling New contracts and extensions for Borr Drilling Pacific Drilling

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What is a digital twin?

August 8, 2020
| Archives

While the concept of a digital twin has been around since 2002, it’s only thanks to the Internet of Things (IoT) that it has become cost-effective to implement. And, it is so imperative to business today. Quite simply, a digital twin is a virtual model of a process, product or service. This pairing of the virtual and physical

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Transocean buys into Enhanced Drilling

August 6, 2020
| Archives

Norwegian offshore services provider Enhanced Drilling, the global leader in subsea management and control of drilling fluids, has attracted an investment from Transocean, the global leader in ultra-deepwater and harsh environment drilling services and will appoint a Transocean representative to Enhanced Drilling’s Board of Directors this month. Enhanced Drilling’s other major shareholders include: EV Private Equity, Shell Ventures

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Weatherford Q2 Highlights

August 6, 2020
| Archives

Weatherford Second Quarter Highlights: Total cash of $756 million as of June 30, 2020, a decrease of $8 million from March 31, 2020 Signed financing commitment for $500 million of new senior secured first lien notes subject to certain closing conditions Cash flows from operations of $31 million and unlevered free cash flow of $108 million Operating loss of $497 million and adjusted EBITDA of $79 million Cost savings plan expanded to deliver an expected $650 million of savings in

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Total and Apache hit oil in Suriname

August 6, 2020
| Archives

The discovery confirms a world-class hydrocarbon resource. This follows previous discoveries at Maka Central in January and Sapakara West in April. The well was drilled by Noble Sam Croft drillship in a water depth of about 1.000 meters and well encountered 278 meters (912 feet) of net oil and volatile oil / gas condensate pay in two intervals. The

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Noble lands contract for the Sam Croft in Guyana with ExxonMobil

August 6, 2020
| Archives

In early August, ExxonMobil awarded the drillship Noble Sam Croft a new 6-month contract to drill offshore Guyana, with operations commencing in the fourth quarter of 2020 after the rig finishes its current program offshore Suriname.  This contract was awarded under the previously-announced Commercial Enabling Agreement (CEA) established with ExxonMobil for Guyana earlier this year.  With this award, all four of Noble's

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