January 2021 - Page 4 of 11

Schlumberger sees oil demand back to pre-covid levels by 2023

January 22, 2021

Spending by the global oil industry outside the U.S. is poised to rebound later this year, according to its largest hired hands, the latest sign of growing confidence in the outlook for crude prices. Schlumberger, the largest oil services company, posted better-than-expected earnings Friday and forecast an increase in overseas spending by customers in the next quarter. Earlier

North America Rig Count: U.S. adds 5 and Canada adds 11

January 22, 2021

| Weekly Rig Count

Baker Hughes Rig Count: U.S. +5 to 378 rigs U.S. Rig Count is up 5 from last week to 378 with oil rigs up 2 to 289, gas rigs up 3 to 88, and miscellaneous rigs unchanged at 1. U.S. Rig Count is down 416 rigs from last year's count of 794, with oil rigs down 387, gas rigs

Biden administration suspends federal oil and gas permitting

January 21, 2021

| Archives

The Biden administration has temporarily suspended oil and gas leasing and permitting on federal lands and waters while it evaluates the legal and policy implications of the program, according to a Department of Interior memo. The move appears to be a first step in delivering on newly sworn-in President Joe Biden’s campaign promise to ban all new federal

Kosmos hits oil on Winterfell

January 21, 2021

| Archives

Kosmos Energy announced an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration (“ILX”) well (Kosmos working interest 17.5%). Winterfell was designed to test a sub-salt Upper Miocene prospect located in Green Canyon Block 944. The well encountered approximately 26 meters (85 feet) of net oil pay in two intervals. Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer

Canada’s TC Energy to cut 1,000 construction jobs, halt KXL work

January 21, 2021

| Archives

Calgary-based TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks, and halt work on the Keystone XL oil pipeline, due to U.S. President Joe Biden’s revoking of the project’s presidential permit, the company said in an email to employees. TC Energy separately confirmed the email, sent by KXL President Richard Prior on Wednesday and

Archer awarded wireline contract with Equinor totaling NOK 2.5 billion

January 20, 2021

| Archives

Archer Limited (“Archer”) is pleased to announce that Equinor has awarded Archer Integrated Services AS, in alliance with Welltec Oilfield Services (Norway) AS (“Welltec”) and Schlumberger Norge AS (“Schlumberger”), a five-year contract for the provision of integrated wireline services in the North Sea. The services offered under the contract include cased hole mechanical wireline services, tractor and powered

Valaris 8500 and 8501 will be converted by SpaceX

January 20, 2021

| Archives

Elon Musk’s SpaceX bought two deepwater rigs last year and is converting them into floating launchpads, to support the enormous Starship rockets that the company is developing. The rigs are in the Port of Brownsville, near SpaceX’s Starship development facility in Boca Chica, Texas. The rigs have been renamed Deimos and Phobos, presumably in homage to the Martian moons. Starship is

Dolphin Drilling awarded a contract for the Borgland

January 20, 2021

| Archives

Dolphin Drilling has secured another contract with a new Norwegian operator. This time with INEOS Energy AS on the Norwegian Continental Shelf. The work, scheduled to commence in the Norwegian Continental Shelf during Q3 2021, include drilling of the Fat Canyon well in the Norwegian Sea with an estimated duration of 40 days. Erik Magnesen, General Manager and

Over 400k acres worth of Alaska drilling leases issued

January 20, 2021

| Archives

The Trump administration said on Tuesday it had issued drilling leases on more than 400,000 acres (160,000 hectares) of Alaska’s Arctic National Wildlife Refuge (ANWR), delivering on a promise to fossil-fuel proponents on President Donald Trump’s last full day in office. Formal issuance of the leases by the U.S. Bureau of Land Management came a day before the

South Sudan to increase production from 170k bpd to 300k bpd with new agreement

January 19, 2021

| Archives

South Sudan and Sudan have signed an agreement to increase oil production in South Sudan’s northern fields from 170,000 barrels per day (bpd) to 300,000 bpd within the next three years. Commencing from 2021, the agreement provides for enhanced bilateral relations by focusing on investment and production as a way to mitigate economic challenges being experienced by both

Month: January 2021

Schlumberger sees oil demand back to pre-covid levels by 2023

North America Rig Count: U.S. adds 5 and Canada adds 11

Biden administration suspends federal oil and gas permitting

Kosmos hits oil on Winterfell

Canada’s TC Energy to cut 1,000 construction jobs, halt KXL work

Archer awarded wireline contract with Equinor totaling NOK 2.5 billion

Valaris 8500 and 8501 will be converted by SpaceX

Dolphin Drilling awarded a contract for the Borgland

Over 400k acres worth of Alaska drilling leases issued

South Sudan to increase production from 170k bpd to 300k bpd with new agreement

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