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Talks of Lundin Energy potential sale

November 30, 2021
| Archives

Swedish oil and gas company Lundin Energy is considering a potential sale, Bloomberg News reported on Monday, citing unnamed sources. Lundin, which has a market value of about $10 billion, is studying strategic alternatives that could also include a merger or asset disposals, the report said. Responding to what it called market rumours, Lundin said it "continuously engages" in opportunities

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Petronas makes new find in Baram Province

November 30, 2021
| Archives

Malaysia’s state oil agency Petronas said on Tuesday it had discovered gas in its Nangka-1 wildcat exploration well in Block SK417, located in the shallow waters of Baram Province. “The Nangka-1 well was successfully drilled to a total depth of 3,758 metres in September 2021. The sweet gas was discovered in the Middle to Late Miocene Cycle VI clastic

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Indonesia puts up eight new blocks for bidding

November 29, 2021
| Archives

Indonesia is putting eight new oil and gas blocks located across the archipelago up for bids, Tutuka Ariadji, the director general of oil and gas at the country's energy ministry, said on Monday. The oil and gas blocks had a total capacity of at least 500 million barrels of oil and 22 trillion cubic feet of gas, data

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With backlog sitting at $2.1 billion Seadrill provides Q3 update

November 29, 2021
| Archives

Seadrill has provided a market update for the third quarter of 2021 During the quarter, Seadrill continued to sign high-quality contracts contributing $145m to backlog, reflecting the depth of its customer relationships. Total backlog as of September 30, 2021 stood at $2.1bn. Highlights during the period included: West Gemini - a four well contract plus options in Angola contributing $35m

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Lebanon announces second offshore licensing round

November 29, 2021
| Archives

When the Council of Ministers approved the launch of Lebanon’s Second Offshore Licensing Round in April 2019, the initial deadline to submit applications was set to 31 January 2020. However, at the request of International Oil and Gas Companies, and later on due to the implications of the global Covid-19 pandemic this deadline was postponed to 30 April 2020

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With a backlog of $2.3 billion Odfjell shares Q3 update

November 29, 2021
| Archives

Odfjell Drilling published their Q3 update and here are the highlights Key Financials Q3 2021 Revenue: $227 million Cash: $135 million EBITDA: $88 million Backlog: $2.3 billion Market Outlook General Increased appetite for field development and production across the segment, with the exception of some regional differences Need for continued exploration and production of oil and gas to bridge the increasing energy demand as new

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Seadrill bags 3 yr contracts for the Carina and the Tellus

November 29, 2021
| Archives

Seadrill Limited announced that it has secured two contracts with Petrobras for the West Carina and West Tellus rigs for work on the Búzios field offshore Brazil. Both contracts have been signed on a 3-year fixed-term basis, with expected commencement in September 2022. Total contract value for the two contracts is approximately $549m (inclusive of mobilization revenue

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Shelf inks three year contract for the Ron Tappmeyer

November 23, 2021
| Archives

Shelf Drilling, Ltd. announced that it has received an award for a three-year contract for the Ron Tappmeyer jack-up rig with Oil and Natural Gas Corporation (“ONGC”) for offshore operations in Indian waters. The rig is currently under contract with ONGC with a scheduled completion date in Q2 2022.   The planned start-up of operations under the new contract

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Lundin Energy granted wildcat permit utilizing the Deepsea Stavanger

November 23, 2021
| Archives

The Norwegian Petroleum Directorate (NPD) has granted Lundin Energy Norway a drilling permit for wildcat well 6306/9-1 in production license PL 886. Well 6306/9-1 will be drilled from the Deepsea Stavanger drilling facility in position 63°22'34.30"N and 06°45'30.53"E. Lundin Energy Norway is the operator with an ownership interest of 60 per cent. The other licensees are Spirit Energy Norway (20 per cent) and Petoro (20 per cent). The area in this license consists

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Talos banks big on GoM deepwater

November 23, 2021
| Archives

Talos Energy announced that it was named as the apparent high bidder in the Outer Continental Shelf Federal Lease Sale 257 on ten deepwater blocks comprising 57,600 gross acres, or 36,720 net acres, for a net total consideration of approx. $4.8 million. Nine of the blocks are in close proximity to the Company's operated Green Canyon and Mississippi Canyon facilities, while the

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