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Illinois regulators approve expansion of Dakota Access pipeline

October 16, 2020
| Archives

Illinois regulators late on Wednesday approved an expansion of the Dakota Access oil pipeline, the largest pipeline running out of North Dakota’s Bakken shale basin, rejecting a bid by environmental groups to block the project. The Dakota Access Pipeline can transport about 570,000 barrels per day (bpd) of crude oil from North Dakota to the Midwest, with connections

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BP extends the West Vela contract to April 2021

October 16, 2020
| Archives

Seadrill Partners LLC has secured additional work for the West Vela in the US Gulf of Mexico with BP. The contract value for the firm portion is expected to be $23.8 million and the contract is expected to run until early of April 2021. Source: Seadrill

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Touchstone announces significant onshore natural gas find in Trinidad

October 15, 2020
| Archives

Touchstone Exploration Inc. reports that the Company has completed drilling the Chinook-1 exploration well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) and is pleased to announce that the well encountered significant hydrocarbon accumulations based on wireline log data. Chinook-1

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DanaGas get cash injection to avoid restructuring

October 15, 2020
| Archives

United Arab Emirates energy firm Dana Gas has raised a $90 million loan allowing it to redeem $309 million in bonds due at the end of October and avoid a third debt restructuring. The company whose main assets are in Egypt and in the Kurdistan Region of Iraq said on Thursday it had obtained a one-year $90 million

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Reliance exercises 180-day option on the KG-1 offshore India

October 15, 2020
| Archives

Transocean today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. As of October 14, the company’s total backlog is approximately $8.2 billion. This quarter’s report includes the following updates: Dhirubhai Deepwater KG1– Customer exercised a 180-day option in India. The report can be accessed on the company’s website: www.deepwater.com.

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Weatherford announces world’s first 12.25 one trip casing sidetrack

October 15, 2020
| Archives

Weatherford International plc announced its Shallow Angle QuickCut™ System successfully achieved the industry's first 12 ¼-in. casing sidetrack, delivering a 22-ft. window in a single trip for an ultra-deepwater well in the Gulf of Mexico. "The operator contacted Weatherford to perform a Gulf of Mexico ultra-deepwater exit in a 12 ¼-in. heavy wall casing," said Chip Miller, Vice President, North America Geozone, Weatherford. "This successful

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Nigeria aims to increase reserves to 40 billion barrels by 2025

October 14, 2020
| Archives

Nigeria’s Department of Petroleum Resources has announced that it aims to increase the country’s oil reserves and condensates substantially to 40 billion barrels by 2025. According to Sarki Auwalu, Director of the Department of Petroleum Resources, the government will achieve this target through the 57 marginal fields soon to be awarded to investors – which will see an

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