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Month: April 2021

Polarcus picked up by Shearwater for $127.5 million

April 30, 2021
| Archives

Offshore seismic firm Shearwater GeoServices has struck a deal with Tiger Moth, a company affiliated with Woodstreet, to buy marine seismic acquisition assets previously owned by Polarcus, who was taken over by its lenders following a loan default in January this year. Shearwater has acquired six seismic acquisition vessels for a total consideration of $127.5m. The company further purchased streamers and

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Valaris lands 400 day deal for JU-249 offshore New Zealand

April 30, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, received confirmation that OMV has awarded an approximate 400-day deal for the provision of jackup Valaris JU-249 (ex-Rowan Gorilla VII) to work offshore New Zealand, commencing in early 2022. The rig, which is currently located in Dundee, UK, has undergone reactivation in

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Vitol to acquire Hunt Oils Midland Assets

April 30, 2021
| Archives

Energy trader Vitol on Friday said its U.S. upstream company, Vencer Energy LLC, has announced it has agreed to acquire Hunt Oil Company’s Midland Basin assets for an undisclosed sum. The assets comprise 44,000 acres across five counties in the Midland Basin, with current daily production of about 40,000 barrels of oil equivalent per day (mboepd), Vitol said

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Oceaneering lands multiple contracts in Q1

April 29, 2021
| Archives

Oceaneering International, Inc. announced that its Manufactured Products segment has won multiple contracts during the first four months of 2021, with anticipated aggregate revenue in excess of $135 million.  The anticipated revenue from these contracts with international oil and gas operators and marine construction companies ranges in value from less than $10 million to greater than $90 million. Each contract scope of work involves the manufacture of

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Noble in discussions to sell 6th gen drillships Pacific Bora and Pacific Mistral

April 29, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, has reported that market sources indicate that Noble has now commenced talks to sell drillships Pacific Mistral and Pacific Bora following the completion of the acquisition of Pacific Drilling earlier this month. Both drillship are cold stacked, whereas Pacific Mistral is currently

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ADES secures contract renewals for seven rigs in KSA

April 29, 2021
| Archives

ADES International Holding PLC, a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), announces that it has secured contract renewals for seven of its rigs in KSA. The contracts cover offshore rigs AD 655, AD 656, AD 266 and AD 261, and onshore rigs ADES 40, ADES 799 and

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Transocean issues fleet status update, sitting with $7.4 billion backlog

April 29, 2021
| Archives

Transocean Ltd. issued their quarterly Fleet Status Report and contract information for the company’s fleet of offshore drilling rigs. This quarter’s report includes the following updates: Deepwater Asgard – Awarded a three-well contract, plus a one-well option in the U.S. Gulf of Mexico Deepwater Invictus – Customer exercised a one-well option in the U.S. Gulf of Mexico Deepwater Nautilus –

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PetroNor Receives Approvals for Guinea-Bissau Offshore Blocks

April 27, 2021
| Archives

PetroNor announced that it has received the necessary approvals in Guinea Bissau to complete its acquisition of three blocks per the terms of the share purchase agreement. PetroNor will assume 78.57% interest as Operator of the Sinapa (Block 2) and Esperança (Blocks 4A and 5A) licenses in Guinea-Bissau, which have been extended for 3 years and are

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Archer acquires DeepWell

April 27, 2021
| Archives

Oilfield services firm Archer said it has signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in DeepWell, a Norwegian well intervention company focused on mechanical wireline and cased hole logging services. The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and regulatory approvals, Archer

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