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Month: September 2020

Seadrill offers its stakes in oil service firms to debtholders

September 1, 2020
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Offshore drilling rig contractor Seadrill said on Monday it has proposed to creditors to turn over its stakes in oil services firms Archer and Seadrill Seabras to redeem its outstanding secured notes. The company controlled by Norwegian-born billionaire John Fredriksen has been in talks with creditors since the end of last year over new debt restructuring. Seadrill said it

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Schlumberger sells U.S. fracking business

September 1, 2020
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Oilfield services firm Schlumberger agreed to sell its North America shale fracking business to rival Liberty Oilfield Services LBTR.N, unloading a unit that underperformed during the shale bust. The sale comes less than three years after Schlumberger sought to expand in hydraulic fracturing through a $430 million purchase of a rival’s fracking equipment. That bet soured as shale-oil

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Stena Drilling bags 10 well decommission contract from PSE Kinsale Energy Ltd

September 1, 2020
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Stena Drilling are pleased to announce that the company have signed a new contract with PSE Kinsale Energy Ltd for a decommissioning campaign in Ireland commencing April 2021. AGR Well Management are the lead contractor managing the design, supply chain and execution of both the platform and subsea well decommissioning work scopes on behalf of PSE Kinsale Energy Ltd. Stena Spey has been selected to perform this work and shall mobilise

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Odfjell managed Deepsea Yantai secures 3 wells with Neptune Energy

September 1, 2020
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Odfjell Drilling and CIMC Raffles are pleased to announce that Neptune Energy Norge has extended the contract for the Deepsea Yantai with an additional 3 wells taking the rig to late 2021. The rig will conduct the second drilling phase of Neptune Energy’s Fenja field development project. In addition, the parties have agreed to increase the number

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