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Month: September 2020

Ecopetrol aims to drill 100 wells in U.S. Permian Basin by end-2021

September 15, 2020
| Archives

Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday. Global oil prices plunged to decade lows, with U.S. West Texas Intermediate (WTI) dropping to negative $40 a barrel on April 20 as supplies ballooned

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$60 a barrel before the end of 2021?

September 15, 2020
| Archives

Citigroup Inc. has a message to cheer up despairing oil bulls: prices will get back to $60 a barrel before the end of 2021. “We’re bullish definitely,” Ed Morse, global head of commodities research at Citi, said in an interview during the S&P Global Platts Asia Pacific Petroleum Conference. “In our base case, prices go up because the

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Sete Brasil’s creditors will make a decision this week

September 13, 2020
| Archives

Sete Brasil's creditors will have a meeting and general meeting next Tuesday (9/15) to decide on the latest approvals of their judicial reorganization process. The deadline established for the company to comply with the requirements of the agreement signed with Petrobras and conclude the operation is until September 30th. According to sources consulted by Petróleo Today, the conclusion

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Rig Lynx Weekly Rundown – Top 5 from week 37

September 13, 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 37, Sep 6 - Sep 12, we had 5.6k page views, below are the top 5 Have a great week ahead! Oh, we also give away $100 bucks each week for our "Most Active

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JV over Brazilian pair of FPSOs changes names

September 11, 2020
| Archives

Altera & Ocyan is the new name of the joint venture formed by the Brazilian Ocyan and the Norwegian Altera Infrastructure (formerly Teekay Offshore). The brand change took place at the beginning of the second half, after the Altera Infrastructure brand change process, which was completed at the beginning of the year. The joint venture is the owner

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Valaris issues restructuring update

September 11, 2020
| Archives

Valaris plc announced that holders of over 70% in aggregate principal amount of its senior notes (the “Consenting Noteholders”) have now executed the Restructuring Support Agreement (the “RSA”) and Backstop Commitment Agreement (the “BCA”). The Company originally entered into the RSA and BCA on August 18, 2020, with holders of approximately 50% in aggregate principal amount of

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JDC bags one well deal with Mitsui Oil

September 11, 2020
| Archives

Japan Drilling Co., Ltd. has entered into a drilling contract with Mitsui Oil Exploration Co., Ltd. for the provision of a jack-up drilling rig "HAKURYU-11". The main terms of the drilling contract are as follows: Operating Area Tenpoku Seiho Oki, Hokkaido Period of Contract 1 firm well (approx.. 80 days) Estimated Commencement Time Around June 2021 Source: JDC 

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Weatherford announces newly appointed CEO and Director

September 11, 2020
| Archives

The Board of Directors of Weatherford International plc announced that effective October 12, 2020, it will appoint Mr. Girish K. Saligram as the Company's President and Chief Executive Officer. Mr. Saligram will also serve as a member of the Company's Board of Directors. Mr. Saligram previously served as Chief Operating Officer at Exterran Corporation. Charles M. Sledge, Chairman of the Board of Directors, commented, "We are

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