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Odfjell reports on Q2 financials

August 27, 2021
| Archives

For the second quarter of 2021, Odfjell Drilling reported operating revenue of $233 million, compared with $167 million in Q2 2020. The company reported a net profit of $27 million, compared with a loss of $6 million in the same period a year earlier. EBITDA was $85 million, up from the $81 million reported in Q2 2020.

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Panoro Energy makes discovery offshore Gabon

August 27, 2021
| Archives

Panoro Energy ASA has announced that the Hibiscus North exploration well (DHBNM-1), currently being drilled in the Dussafu Marin Permit offshore Gabon, has encountered hydrocarbons. Drilling will continue through the secondary Dentale target to a total depth of approximately 3,500 metres. Initial results indicate that the DHBNM-1 well has encountered approximately 13.5 metres of oil-bearing reservoir in the

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Petrobras spuds in Aram prospect in Santos Basin

August 27, 2021
| Archives

Petrobras started drilling a wildcat well in the Aram block, in the pre-salt of the Santos Basin. The activity is being carried out in a water depth of 1,904 meters by the drillship Brava Star, from Constellation. The information was released by the National Petroleum Agency (ANP). The Aram block is operated by Petrobras (80%) in partnership with

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Petronas profits rise by 68% on market recovery

August 27, 2021
| Archives

Malaysian state oil firm Petronas on Friday posted a return to profit in the second quarter after recording a loss a year ago, supported by a recovery in price and demand following the reopening of key economies globally. The world’s fourth-biggest LNG exporter said post-tax profit was 9.6 billion ringgit ($2.29 billion) for the April to June period,

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Talos Energy wins bid on carbon capture site in Texas

August 26, 2021
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Talos Energy has announced that, along with its partner Carbonvert, it was the sole winning bidder partnership for the Texas General Land Office's ('GLO') Jefferson County, Texas carbon storage site, located near Beaumont and Port Arthur, Texas. Following finalization of lease documentation, the award will place Talos among a very select group of domestic independent energy companies with a physical

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Exxon and partners spud in Sapote offshore Guyana

August 26, 2021
| Archives

Westmount Energy notes the announcement by the Maritime Administration Department, Guyana, dated 25th August 2021, that the Stena DrillMAX drillship will commence drilling operations at the Sapote-1 wellsite on the Canje Block, offshore Guyana, on 28th August 2021. Westmount holds an indirect interest in the Canje Block as a result of its circa 7.2% interest in the issued share capital of JHI Associates Inc. The Canje

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VAALCO signs LOI for FSO offshore Gabon

August 26, 2021
| Archives

VAALCO Energy has announced that its affiliate VAALCO Gabon has signed a binding letter of intent ('LOI') with World Carrier Offshore Services Corp to provide and operate a Floating Storage and Offloading ('FSO') unit at VAALCO’s Etame Marin field offshore Gabon for up to eight years with additional option periods available upon the expiration of the current Floating Production, Storage and Offloading ('FPSO') contract in September

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ADES purchases four jackups from Noble

August 26, 2021
| Archives

Noble Corporation today announced that subsidiaries of the Company have reached a definitive agreement to sell four jackups to ADES International Holding Ltd., through its subsidiary, ("ADES") for $292 million.  The Company expects to generate approximately $285 million in cash from the transaction net of fees, expenses, and the settlement of working capital.  The Noble Roger Lewis, Noble Scott

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Transocean lands contract for newbuild Deepwater Atlas

August 26, 2021
| Archives

Transocean Ltd. announced today that BOE Exploration & Production LLC (“BOE”) awarded Transocean a $252 million firm contract for its newbuild ultra-deepwater drillship, the Deepwater Atlas, including a mobilization fee of $30 million. Additionally, the contract provides for a significant performance bonus opportunity based upon agreed operating metrics. This award results from the final investment decision of BOE and the Shenandoah working interest owners to

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