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Maersk awarded extension on the Intrepid

July 9, 2021
| Archives

Equinor Energy AS has exercised an option to add additional well intervention work to the previously agreed work scope for the low-emission jack-up rig Maersk Intrepid at the Martin Linge field offshore Norway. The added well intervention scope has a firm duration of 31 days, which means that the rig is now contracted until February 2022. The firm value

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Constellation bags 3 year contract with Petrobras

July 7, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Constellation was awarded a new contract with Petrobras for the ultra-deepwater drillship Laguna Star. The duration of the contract is 1,095 days and start-up is scheduled for January 2022. The contract includes integrated services and the use of MPD system. Source:

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Borr shows 40 plus jackups needed to fill potential demand for 2022

July 7, 2021
| Archives

Borr Drilling released its new investor presentation today and it shows a potential demand of 40+ jackups units needed to fill prospect regions heading out of 2021 into 2022. One other thing to note is that the day rate for these units looks to be increasing as utilization begins to enter the 90-percentile range. Borr’s current backlog is sitting

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Kosmos Energy to restart exploration in GOM

July 6, 2021
| Archives

Kosmos Energy provided an operational update on its production, development and exploration activities. This is in advance of the Company’s second quarter results, which are scheduled for release on August 9, 2021. Andrew G. Inglis, Chairman and Chief Executive Officer of Kosmos said: “Kosmos had a solid second quarter, generating positive cash flow which reduced net debt by

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Diamond Offshore signs global training agreement with Maersk

July 6, 2021
| Archives

Maersk Training will deliver 'fit for purpose' and industry-leading immersive simulation and crew resource management training for Diamond Offshore crews worldwide under a new global training management and service (TMS) agreement.   As part of the agreement, Maersk Training will also deliver a full suite of training and competency management services through a state-of-the-art mobile TMS app. The services provided includes training management administration, competency program management, and license management. The

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Eni announces significant oil discovery offshore Ghana

July 6, 2021
| Archives

Eni announces a significant oil discovery on the Eban exploration prospect in CTP Block 4, offshore Ghana. The Eban - 1X well is the second well drilled in CTP Block 4, following the Akoma discovery. Preliminary estimates place the potential of the Eban–Akoma complex between 500 and 700 Mboe in place. The Eban - 1X well is located

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Patterson UTI buys out Pioneer Energy

July 6, 2021
| Archives

PATTERSON-UTI ENERGY, INC. announced that it has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services' debt.  Consideration for this acquisition consists of the issuance of up to 26,275,000 shares of Patterson-UTI common stock plus payment of $30 million of cash.  The transaction is expected to close

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Qatar Petroleum picks up interest in Total’s South Africa offshore blocks

July 5, 2021
| Archives

Qatar Petroleum has entered into agreements with TotalEnergies to acquire interests in three exploration blocks offshore South Africa. Under the terms of the agreements, which are subject to customary approvals by the government of South Africa, Qatar Petroleum will hold a 25% participating interest in the South Outeniqua block, a 30% participating interest in the DWOB block, and a 29.17% participating interest in

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Lukoil grabs 50% stake in fields offshore Mexico

July 5, 2021
| Archives

LUKOIL has announced the entry into an agreement to acquire the 50% operator interest in the Area 4 project offshore Mexico (hereinafter – the Project) through the acquisition of the operator's holding company. The transaction value is $435 million plus expenditures incurred in 2021 as of the transaction completion date. The completion of the transaction is subject to certain conditions, including approval

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