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Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc

October 28, 2020

Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc, the companies said on Tuesday, as Cenovus begins to slash costs in the Canadian oil patch’s biggest merger in nearly four years. The job losses could total about 2,150, based on the size of their workforces, including contractors. Most will

700 Chevron employees in Houston to be laid off starting this month

October 28, 2020

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Chevron Corp will lay off about 25% of Noble Energy's employees who joined the oil major after its $4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday. A collapse in crude oil prices has forced most oil and gas producers to drastically cut costs by laying off thousands of employees and

Chevron sells out of the Appalachian basin for $735 million

October 28, 2020

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Natural gas producer EQT Corp said on Tuesday it will buy U.S. oil major Chevron Corp's assets in the Appalachian basin for $735 million. The deal includes about 100 work-in-progress wells, acreage in the Marcellus basin and a 31% stake in Laurel Mountain Midstream, a joint venture between Chevron, producer Laurel Mountain and pipeline operator Williams Cos Inc. EQT’s

Saipem publishes results of the third quarter and the first nine months of 2020

October 28, 2020

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In a scenario that is still remarkably complex due to the pandemic, revenues and adjusted EBITDA margin, which attested a trend of improvement in the third quarter, and the progress of project activities demonstrate the resilience of the company in the market context. The financial structure is confirmed robust and well-balanced, with increasing liquidity compared to end of

Total hits over 230′ of gas condensate in South Africa using the Deepsea Stavenger

October 28, 2020

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Total and its partners have made a new gas condensate discovery on the Luiperd prospect located on Block 11B/12B offshore South Africa. The discovery follows the landmark Brulpadda find, made in 2019. The Luiperd-1X well was drilled by the Odfjell Deepsea Stavanger semi-submersible rig, in approximately 1,800 meters of water to a total depth of 3,400 meters. The

Borr sells jackup Atla (ex GSF Constellation 1)

October 28, 2020

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Borr Drilling Limited has entered into an agreement to sell its cold stacked jack-up drilling rig “Atla” to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total

DanaGas sells off onshore assets in Egypt

October 27, 2020

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Dana Gas has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group, for the sale of its onshore Egyptian producing oil and gas assets for a consideration of up to $236 million including contingent payments. IPR is a leading private E&P operator in Egypt, with nine active concessions, and over

59 floaters are prime candidates for scrapping says Rystad

October 27, 2020

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The new downturn that the Covid-19 pandemic has brought upon the oil and gas industry has put many sectors in financial distress. Restructuring in the already-stretched offshore drilling market will accelerate, a Rystad Energy analysis shows, and the global floater fleet, whose utilization has been suffering since the previous downturn, can expect a new round of scrapping

India may see up to $206 billion in oil and gas investments over the next 10 years

October 27, 2020

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The country's oil and natural gas sector is likely to see investment to the tune of $206 billion during the next eight to ten years. With Prime Minister Narendra Modi addressing the top global executives at the India Energy Forum by CERA Week on Monday, it is expected he would further entice companies to promote a core self-reliant India.

Petrobras and Seadrill start drilling in block C-M-411 at a water depth of 2,953 meters

October 25, 2020

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News in exploratory activity in the Campos Basin. Petrobras started drilling the first well in block C-M-411 this week. The operation is being carried out with the West Tellus drillship, in a water depth of 2,953 meters. The pioneer well was named after the technical name 1-BRSA-1377-RJS. As a reminder, block CM-411 was purchased by Petrobras during the

Archives

Cenovus Energy Inc plans to cut 20% to 25% of its workforce after it acquires Husky Energy Inc

700 Chevron employees in Houston to be laid off starting this month

Chevron sells out of the Appalachian basin for $735 million

Saipem publishes results of the third quarter and the first nine months of 2020

Total hits over 230′ of gas condensate in South Africa using the Deepsea Stavenger

Borr sells jackup Atla (ex GSF Constellation 1)

DanaGas sells off onshore assets in Egypt

59 floaters are prime candidates for scrapping says Rystad

India may see up to $206 billion in oil and gas investments over the next 10 years

Petrobras and Seadrill start drilling in block C-M-411 at a water depth of 2,953 meters

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