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Month: September 2020

Valaris taps $500m DIP Loan

September 28, 2020
| Archives

Valaris plc today announced that the Company entered into a $500 million Debtor-in-Possession (“DIP”) term loan agreement with certain of its noteholders. This agreement was executed after receiving final approval to access the DIP term loan facility from the United States Bankruptcy Court for the Southern District of Texas. Including over $180 million of cash on hand

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ExxonMobil closing in on deal with Guyana for the Payara project

September 28, 2020
| Archives

Guyana is close to reaching a deal with Exxon Mobil Corp to approve the company’s Payara project, after the company committed to stricter environmental restrictions on gas flaring and wastewater, a top government official said on Friday. Exxon, along with consortium partners Hess Corp and China’s CNOOC Ltd, expects to eventually produce 220,000 barrels per day of crude

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BW Energy to develop a converted jack-up system for offshore Gabon

September 28, 2020
| Archives

BW Energy plans to develop an innovative converted jack-up rig system, aiming to exploit the Hibiscus/Ruche discoveries in the Dussafu field offshore Gabon. By avoiding the construction of a standard wellhead platform, the alternative development plan allows for lower capital expenditure, decreased time to first oil, and a reduction in carbon emissions through the use of existing infrastructure. A

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Woodside to use EC-Drill Controlled Mud Level from Enhanced Drilling for Senegal

September 28, 2020
| Archives

AUSTRALIA’S largest independent oil and gas company, Woodside, has signed a contract to prepare their drill ships for the EC-Drill® system (pictured) from Norwegian offshore solutions provider, Enhanced Drilling, on the Sangomar Field Development offshore Senegal. EC-Drill®– more control EC-Drill® is a Controlled Mud Level (CML) system that enables operators to 'drill the undrillable' wells. Some of the development

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Rig Lynx Weekly Rundown – Top 5 from week 39

September 28, 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 39, Sep 20 - Sep 26, we had 7.1k page views and below are the top 5 Have a great week ahead! Oh, we also give away $100 bucks each week for our "Most

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ConocoPhillips sees global oil demand returning

September 25, 2020
| Archives

U.S. oil producer ConocoPhillips sees global demand returning to 100 million barrels per day and growing from there, with oil an "important part of the energy mix in any scenario" going forward, a senior executive said on Thursday. The view stands in contrast to that of rival BP Plc, which sees the coronavirus pandemic leaving a lasting effect

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Newfoundland and Labrador announce new offshore exploration initiative

September 25, 2020
| Archives

The Government of Newfoundland and Labrador announced the establishment of a new offshore exploration initiative to provide companies with the incentive to drill more wells in the best prospects. This is a policy measure that will allow all future bid deposit forfeitures to be reinvested as received, resulting in an injection of hundreds of millions of dollars

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POSH grabs long term floatel work with Petrobras

September 25, 2020
| Archives

Offshore marine services provider, PACC Offshore Services Holdings ("POSH"), today announced that its two-flagship offshore accommodation semi-submersible accommodation vessels ("SSAVs") – POSH Arcadia and POSH Xanadu – have secured long-term charters with Petrobras. Mr Ulva Chai, Managing Director, Offshore Services, POSH, said, "We are proud for POSH to have both flagship SSAVs simultaneously secure long-term charters with Petrobras

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