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Buy A Rig – Get A Contract To Boot! | OutPut by Rig Lynx

April 30, 2018
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Brought to you from Output by Rig Lynx – Odfjell revealed its intention to buy the Stena Midmax, a Moss CS60E semi-submersible drilling rig, from Samsing Heavy earlier in April. With this in mind, the driller completed the private placement raising gross proceeds of approximately $175 million with the purpose of financing growth within its mobile offshore drilling fleet and general

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Baker Hughes, W&T Offshore enter Gulf of Mexico pact | OutPut by Rig Lynx

April 30, 2018
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Brought to you from Output by Rig Lynx – The partnership is part of W&T’s joint exploration and development agreements with a group of investors to drill up to 14 specified projects in the Gulf of Mexico over the next three plus years announced back in mid-March. The agreement between BHGE and W&T was announced on Monday at 50th Offshore Technology

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Borr Drilling tosses out 14 jack-up rigs | OutPut by Rig Lynx

April 30, 2018
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  Brought to you from OutPut by Rig Lynx – The rigs will be delivered to the new unnamed owner over the next 30 days and the disposal is expected to contribute up to $16 million in profit to Borr’s 2Q 2018 results, the driller said on Monday while announcing the sale. The company further said that 13 of

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Exxon Not Enjoying The Party | OutPut by Rig Lynx

April 29, 2018
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Brought to you from OutPut by Rig Lynx – Exxon delivered a fresh reminder of its difficult position on Friday, reporting oil and natural gas production fell by 6 percent during the first quarter. That’s despite the recent surge in crude oil prices. It’s part of an alarming trend: Exxon’s output is down seven of the past eight quarters. “They

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Leasing Blocks? Uruguay Thought They Would | OutPut by Rig Lynx

April 28, 2018
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Brought to you from OutPut by Rig Lynx – Uruguay’s first oil auction in seven years that had offered 17 offshore blocks didn’t attract any bids by the April 26 deadline, Uruguay’s state-run oil company ANCAP said. Although two companies submitted documents to qualify for the Round 3 oil auction in Uruguay’s offshore, none of them expressed further interest by

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US Coal Exports Rose 61% In 2017 | OutPut by Rig Lynx

April 27, 2018
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Brought to you from OutPut by Rig Lynx – US coal exports rose by 61% in 2017 (by a total of 36.7 million short tons), largely on the back of increased shipments to Asia and steady shipments to Europe, going by the most recent figures released by the EIA. The exact figures for 2017 were 97 million short

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BP Admits It Underestimated Renewable Growth | OutPut by Rig Lynx

April 27, 2018
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Brought to you from OutPut by Rig Lynx – BP made a mistake in its 2018 World Energy Outlook by underestimating the speed of renewables adoption, notably solar capacity. In an interview with Euractiv, BP’s chief economist, Spencer Dale, explained that while BP was aware of the learning curve typical of solar capacity adoption, it was unaware just how

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