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DOF Subsea and Ocean Floor Geophysics Inc. sign agreement to provide global AUV services

October 11, 2021
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Ocean Floor Geophysics Inc. (OFG) and DOF Subsea AS (DOF) have entered into a strategic alliance for Autonomous Underwater Vehicle (AUV) services to the global offshore industry. The partnership will effectively leverage the two businesses’ recent collaboration in the development of the OFG AUV non-contact integrated Cathodic Protection (iCP) inspection system and enable the sharing of resources on

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Huge milestone for Seadrill bankruptcy exit

October 11, 2021
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Seadrill Limited has announced the voting results for its plan of reorganization (the “Plan”).  All voting classes of stakeholders accepted the Plan, including all 12 credit facilities and general unsecured creditors and shareholders.  Over 96% of secured lenders voted, and over 88% of secured lenders accepted the Plan. Based on these results, Seadrill is on track to have

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Shale oil is booming again in the permian

October 11, 2021
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Oil prices above $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks. Only this time, the surge is being driven by private operators, rather than the publicly traded companies that fueled the previous booms. And they see little reason to slow things down. Increased access

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Equinor given consent for exploration drilling on the Statfjord North field

October 8, 2021
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The Petroleum Safety Authority Norway (PSA) has given Equinor consent to plugging, drilling and completion on Statfjord North E-4, in production licence PL 037. Geographical coordinates are: 61° 26' 3.01'' North 1° 55' 30.23'' East. Water depth is 265 meters. The well, to be drilled by the Deepsea Atlantic, is scheduled to take 62 days. The main purpose of the operations is to limit additional volume, maintain production level, and

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Oil industry needs $500 billion injection to avoid future supply crisis

October 8, 2021
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Oil explorers need to raise drilling budgets by 54% to more than half a trillion dollars to forestall a significant supply deficit in the next few years, according to Moody’s Investors Service Inc. Crude and natural gas drillers chastened by last year’s unprecedented collapse in demand and prices haven’t responded to the recent market rebound as the industry

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COSL bags new contract for the Promoter

October 7, 2021
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Equinor has awarded COSL Offshore Management a contract to drill four wells on Statfjord Øst with the COSLPromoter rig from the spring of 2023. In addition, the rig has options for drilling five wells for Statfjord satellites afterwards. The contract value is calculated at around USD 56 million for the fixed part of the contract, which has an estimated duration of 220 days. The value includes drilling and completion services,

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Comstock sells Bakken resources to Northern Oil and Gas

October 7, 2021
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Dallas Cowboys owner Jerry Jones’ Comstock Resources on Thursday agreed to sell its assets in North Dakota’s Bakken basin to Northern Oil and Gas for $154 million, as it looks to shore up capital. Oil and gas companies have been looking to sell assets to take advantage of a rise in commodity prices as well as bolster cash

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Exxon raises Guyana reserve estimate after recent find

October 7, 2021
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Exxon Mobil raised by 1 billion oil-equivalent barrels the resource estimate from its Stabroek Block offshore Guyana, which includes a new discovery, as it develops one of the world’s most important oil and gas blocks in the last decade. The updated estimate of 10 billion oil-equivalent barrels, including that from the new find at the Cataback-1 well, brings

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Petrobras and PetroRio in talks about Albacora development

October 7, 2021
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Brazilian state oil giant Petrobras has picked a consortium of PetroRio SA and Cobra, a subsidiary of France’s Vinci SA, to start talks on developing the Albacora offshore oilfield, four people with knowledge of the matter said. The consortium’s bid was chosen over a rival offer from a group comprising private equity firm EIG Global Energy Partners with

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Sercel wins major seismic equipment contract in North Africa

October 6, 2021
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CGG has announced the award to Sercel of a major contract to supply land seismic equipment for a 3D mega-crew survey in North Africa It includes a 508XT acquisition system with 100,000 QuietSeis digital sensors and a fleet of twenty Nomad 90 Neo broadband vibrator trucks. The equipment is expected to be delivered in Q4 2021. The addition of these 100,000 digital

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