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Pacific awarded contract with Petronas offshore Mexico

January 15, 2021
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In their fleet status report published this week, Pacific Drilling said that the assignment of Pacific Khamsin drillship to Total for Equinor’s second well was completed in November 2020. Pacific Khamsin drilled the Monument exploration well in the U.S. Gulf of Mexico for Equinor and found approximately 200 feet (c. 60 meters) of net oil pay with good reservoir characteristics in Paleogene sandstone. The discovery was

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Seadrill skips interest payment to noteholders

January 15, 2021
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Seadrill New Finance Limited, a company incorporated in Bermuda in 2018 and issuer of the 12.0% senior secured notes due 2025 (the “Notes”), has determined not to make the semi-annual 4% cash interest payment due to the senior secured noteholders on 15 January 2021 in respect of their Notes issued pursuant to the terms of the notes

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Maersk receives early termination from Dana on the Resilient

January 15, 2021
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Maersk Drilling has received notice of early termination for convenience of the one-well contract with Dana Petroleum Denmark B.V. which was first announced in Maersk Drilling’s May 2020 Fleet Status Report. Maersk Drilling expects to receive compensation in the form of a termination fee. The contract had previously been deferred from the date of originally expected commencement. Source: Maersk Join our

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Total and Apache announce another significant find offshore Suriname

January 14, 2021
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Total and Apache Corporation have made a new significant oil and gas discovery at the Keskesi East-1 well, in Block 58 off the coast of Suriname. This follows previous discoveries at Maka Central, Sapakara West and Kwaskwasi. The well was drilled by a water depth of about 725 meters and encountered a total of 63 meters net pay

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BW Energy drops $4 million for farm in agreement offshore Namibia

January 14, 2021
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BW Kudu Limited, a wholly owned subsidiary of Norwegian firm BW Energy Limited and the National Petroleum Corporation of Namibia (NAMCOR) have signed a Farm-In and Carry Agreement. The agreement increases BW Kudu’s working interest in the Kudu license offshore Namibia from 56% to 95% in line with previously disclosed intentions. NAMCOR will retain the remaining 5%

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Inside Thai oil and gas company PTTOR coming IPO

January 14, 2021
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Thai oil and gas company PTT Pcl has priced an initial public offering (IPO) of shares in retail unit PTT Oil and Retail (PTTOR) to raise up to $1.8 billion, it said on Thursday ahead of what is expected to be among the country’s largest listings this year. The long-planned IPO follows a string of large Thai listings

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Borr issues statement on published article in Dagens Naeringsliv

January 13, 2021
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Borr Drilling Limited refers to an article initially published in the Norwegian newspaper “Dagens Næringsliv” today, which refers to a potential alternative plan discussed by two creditors. The Board and Management are highly confident that the Company can execute the liquidity improvement plan and equity raise as announced in a press release on 24 December 2020. The Company

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Maersk picks up a contract for the Resolve

January 13, 2021
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Maersk Drilling has been awarded a contract from Spirit Energy for the harsh-environment jack-up rig Maersk Resolve to drill one development well at Grove North East in the UK North Sea. The contract is expected to commence in March 2021, with an estimated duration of 131 days. The firm contract value is approximately USD 11.3m, including additional

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Prolific Basins to Keep Your Eye on for 2021

January 13, 2021
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Executive Summary The Kavango Basin formed through a combination of rifting and shearing, most likely in the Permian to Triassic period. According to ReconAfrica and studies on the basin, the basin represents one of the largest onshore undeveloped hydrocarbon basins in the world. Based on a tight grid aeromagnetic survey, up to 30,000 feet of sedimentary fill

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