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Month: June 2021

Prosafe receives key support from lenders on financial restructuring

June 4, 2021
| Archives

Prosafe is pleased to announce that it has received support from lenders of Prosafe SE and Prosafe Rigs Pte. Ltd. on a comprehensive and material restructuring of the financial indebtedness of the group (the “Transaction”). The Company has received acknowledgment of credit approval (subject to certain conditions) in support of the Transaction from ca. 79% across the

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ReconAfrica confirms light oil and gas in Kavango Basin

June 4, 2021
| Archives

Reconnaissance Energy Africa (ReconAfrica) announced it has set intermediate casing and reports geologic results in the first section of the second well (6-1), which again confirms a working petroleum system in the Kavango Sedimentary Basin. As well, the Company is strengthening its Environment, Social & Governance (ESG) standard and committing a minimum of Canadian $10mm (Namibian $112mm)

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Repsol parts with Vietnam and Malaysia assets for $212 million

June 4, 2021
| Archives

Malaysian oil and gas exploration and production company Hibiscus Petroleum Bhd has acquired Spanish energy major Repsol Exploración, S.A.’s upstream assets in Malaysia and Vietnam for a cash consideration of $212.5 million, it said in a stock exchange filing on Friday. The acquisition comprises five production-sharing contracts, one of which is in Vietnam, a new market for Hibiscus.

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Rig Lynx Weekly Rundown – Seadrill Partners emerge from bankruptcy led by new CEO Steven Newman

June 4, 2021
| Weekly Rundown

Seadrill Partners emerge from bankruptcy lead by new CEO Steven Newman Seadrill Partners LLC announced that it has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the “Plan”). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived. Read More Maersk to sell the Inspirer

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Sapphire Driller arrives in EG, preps for kickoff

June 3, 2021
| Archives

Equatorial Guinea’s Ministry of Mines and Hydrocarbons (MMH), announces the start of drilling by Trident Energy in Block G, following the arrival of the Sapphire Driller rig. Three infill wells – Elon-A, Elon-C and Elon-D – will be drilled in the Elon field to offset declining production at the nearby Ceiba and Okume Complex. These wells will serve to offset declining hydrocarbon

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Valaris picks up two more wells for the JU-291

June 3, 2021
| Archives

Valaris Limited announced that it has been awarded a two-well contract extension with Equinor Energy AS offshore Norway for VALARIS JU-291 (Stavanger), a heavy-duty ultra-harsh environment jackup. The extension is for an estimated 120 days in direct continuation of the existing contract and, as a result, the VALARIS JU-291 is now expected to be under contract through

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Karoon keeps the Maersk Developer on for two more wells

June 3, 2021
| Archives

Karoon Energy Ltd has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer. The work is expected to commence in the second half of 2022, in direct continuation of the rig’s previously agreed work scope with Karoon Energy Ltd. The contract

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Savannah Energy in talks to buy Exxon Chad, Cameroon stakes

June 2, 2021
| Archives

Africa focused Savannah Energy and Exxon Mobil Corp are in exclusive talks over the sale of Exxon’s interest in energy assets in Chad and Cameroon, the companies said on Wednesday. The British oil and gas producer is proposing to buy a 40% operated interest in the Doba oil project in Chad, and a 40% interest in the Chad-Cameroon

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Seadrill lands 18 month contract for the West Neptune in the GOM

June 2, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that LLOG has secured the ultra-deepwater drillship West Neptune for an 18-month drilling campaign in the US Gulf of Mexico. The contract is believed to begin in Q4 2021 and includes the drilling of 6 wells and includes three 1-well options

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Seadrill line up 5 rigs for scrapping

June 2, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that current market reports indicate that Seadrill is to scrap five of its stacked rigs, including four semisubs and one drillship. It is understood that the units will all be sent to the Rota shipyard in Turkey where they will be

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