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KCA Deutag awarded $110 million in land drilling contracts

March 29, 2021
| Archives

KCA Deutag has secured contracts worth around $110 million for its Land Drilling business in Pakistan, Russia, Kurdistan, south-eastern Europe and Germany. The new business is made up of a mix of contract wins, allowing us to mobilize stacked rigs, and contract extensions. The Group has secured a new five-year contract with a major oil company for

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Maersk bags nine month gig for the Reacher

March 29, 2021
| Archives

Maersk Drilling has been awarded a contract with Aker BP for the ultra-harsh environment jack-up rig Maersk Reacher to assist with well intervention, stimulation and accommodation at the Valhall field offshore Norway. The contract is expected to commence in July 2021 and has a firm duration of 270 days. The firm contract value is approximately USD 33.4m.

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Velesto bags 3 well deal for the NAGA 7 with ConcoPhillips

March 26, 2021
| Archives

The Board of Directors of Velesto Energy Berhad (“VEB”) is pleased to announce that Velesto Drilling Sdn Bhd (“VED”), a wholly-owned subsidiary of Velesto Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of VEB (collectively be referred as “VEB Group”), has been awarded with a Letter of Award from ConocoPhillips Sarawak Limited and ConocoPhillips

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First new oil cargo from Guyana heads to India

March 25, 2021
| Archives

The first cargo from new oil producer Guyana to the world’s third-largest crude importer, India, departed this month from a production facility off the South American nation’s coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday. The cargo was bought by HPCL-Mittal Energy Ltd, a joint venture between state-run Hindustan Petroleum

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Floatel stays afloat after debt restructuring

March 25, 2021
| Archives

The Company is pleased to announce that it and the Group have successfully completed its comprehensive balance sheet restructuring, securing a fully consensual deal among all key stakeholders, including shareholders, 1L Bondholders, 2L Bondholders and the Bank Vessel Facility lenders. The Group has retained its existing fleet of 5 operating vessels while substantially reducing its debt by USD

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Shelf Drilling jackup Trident 16 lands two more years with Petrobel

March 25, 2021
| Archives

Shelf Drilling, Ltd. announced that it has secured a two-year contract extension for the Trident 16 jack-up rig in direct continuation of its current term with Belayim Petroleum Company (“Petrobel”) for operations in the Gulf of Suez offshore Egypt. The Trident 16 has been working with Petrobel in Belayim fields since 2015, and following this extension, the

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Ovintiv finds a buyer for the Eagle Ford shale assets

March 25, 2021
| Archives

Debt-ridden Ovintiv Inc said it will sell its Eagle Ford assets in Texas to Validus Energy for $880 million, as the oil and gas producer seeks to shore up its finances following a tumultuous year for the energy industry. Ovintiv moved its headquarters from Canada to the United States in 2020 in the hopes of better access to

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Italian judge accepts Eni request to settle Congo Republic suit

March 25, 2021
| Archives

An Italian judge accepted on Thursday a request filed by energy group Eni with prosecutors to pay 11.8 million euros ($14 million) to settle an investigation into oil permits in Congo Republic. “Eni reiterates that is pleased that the Milan Court also confirmed the absence of alleged offences of international corruption: this decision allowed the definition of the

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Noble Drilling and Pacific Drilling Announce Merger

March 25, 2021
| Archives

Noble Corporation and Pacific Drilling Company LLC announced today that they have entered into a definitive merger agreement under which Noble will acquire Pacific Drilling in an all-stock transaction.  The definitive merger agreement was unanimously approved by each company's Board of Directors. The transaction has also been approved by a majority of Pacific Drilling's equity holders, and

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Drilling activity is set for two consecutive years of growth

March 24, 2021
| Archives

After a challenging 2020, oil and gas demand recovery – supported by vaccination efforts and OPEC+ supply cuts – is proving good for drilling activity. Rystad Energy expects around 54,000 wells to be drilled worldwide in 2021, a 12% increase from 2020 levels. In 2022 drilling is set to increase even more, by another 19% year-on-year to

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