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BP sticks with API

May 10, 2021
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BP said on Monday it will remain a member of the American Petroleum Institute (API) after the largest U.S. oil and gas trade lobby group addressed some differences with the British energy company over climate change. BP, which plans to sharply cut its oil output and boost its renewable energy capacity over the next decade, said in a

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Hacked fuel pipeline could send U.S. pump price highest since 2014

May 10, 2021
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U.S. gasoline prices at the pump jumped 6 cents in the latest week and could soon be headed for the highest level since 2014 due to the supply disruption caused by a cyber attack on the country’s biggest fuel pipeline system. The ransomware attack forced Colonial Pipeline to shut down its system on Friday. Some smaller lines were

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Rig Lynx Rewind: Kanuni (Ex-Sertao) drillship set for joining the Fatih in the Sakarya field

May 10, 2021
| Archives

Originally published October 5, 2020 Turkey plans to deploy a second drilling ship in the Black Sea early next year following the biggest-ever natural-gas discovery there. The vessel, named Kanuni, will join another ship seeking further oil and gas fields, Energy Minister Fatih Donmez said in an interview with the state news agency Anadolu. In August, Turkey President Recep Tayyip Erdogan

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ReconAfrica spuds second well in Kavango Basin, Namibia

May 7, 2021
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Reconnaissance Energy Africa (ReconAfrica) has spudded the second well (6-1), of an initial three well programme in the Kavango Basin in the Kalahari Desert of North East Namibia. The 6-1 well is designed to evaluate the petroleum systems discovered in the first well (6-2) in an area of maximum thickness. With the first string of casing set and

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60% increase in April drilling permits for Texas

May 7, 2021
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The Railroad Commission of Texas issued a total of 732 original drilling permits in April 2021 compared to 456 in April 2020. The April 2021 total includes 629 permits to drill new oil or gas wells, five to re-enter plugged well bores, and 94 for re-completions of existing well bores. The breakdown of well types for original drilling

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Vantage signals market recovery with 1st quarter results

May 6, 2021
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Vantage Drilling International reported a net loss attributable to controlling interest of approximately $36.0 million or $2.74 per diluted share for the three months ended March 31, 2021, based on the weighted average shares outstanding, as compared to a net loss attributable to controlling interest of $30.6 million or $2.33 per diluted share for the three months

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Seadrill lenders agree to extended cash use, for now

May 6, 2021
| Archives

Seadrill Ltd on Wednesday reached a tentative deal that will allow it to continue using lender cash to fund operations while it works with creditors on a path out of bankruptcy. During a virtual hearing, U.S. Bankruptcy Judge David Jones, sitting in his Laredo, Texas courtroom, said he would extend Seadrill’s access to cash until Aug. 31. The

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Shell signals exit from upstream activities in Tunisia

May 6, 2021
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Royal Dutch Shell has informed Tunisian authorities it will hand back upstream concessions and leave the country next year as it turns its focus to renewable energy, Rania Marzouki a senior official in the energy ministry, told Reuters. Shell's departure will mean the Miskar concession in southern city of Gabes will be handed back to the government, she

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OKEA ASA awards 4 year contract plus options to COSL

May 6, 2021
| Archives

OKEA ASA has awarded a four-year frame contract to COSL Drilling Europe AS for the use of COSL’s energy-efficient drilling units on the Norwegian Continental Shelf (NCS). As part of the agreement, COSL Drilling Europe (COSL) will be the exclusive provider of semi-submersible drilling rigs for OKEA’s NCS operations, with flexibility in terms of which of COSL’s identical

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