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DS 11 will receive a 20k psi upgrade for TotalEnergies GOM, 3.5 year term

August 4, 2021
| Archives

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that Valaris has been awarded a 3.5-year contract with TotalEnergies for the highly anticipated high-pressure North Platte field development drilling campaign in the US Gulf of Mexico. The contract is expected to commence mid-2024 and is contingent on the project passing

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Oceaneering lands multi-year integrity contract in Papua New Guinea

August 4, 2021
| Archives

Oceaneering International, Inc. announces that its Integrity Management and Digital Solutions (IMDS) segment has won a new multi-year contract in Papua New Guinea (PNG) with a major operator. The contract is for a duration of three years plus two one-year extensions. The scope of work, which is already underway, includes conventional and advanced non-destructive testing, on-site inspection, data

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Permian Basin production to recover completely by 2022

August 4, 2021
| Archives

The Permian basin, the largest oil producing basin in the US, was the most affected play in the country during the COVID-19 pandemic times. However, production of crude oil and natural gas from this play is likely to exceed the pre-pandemic levels by 2022 amid market recovery from the pandemic, says GlobalData, a leading data and analytics

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Ghana seeks loan approval to accelerate oil and gas exploration

August 3, 2021
| Archives

Ghana is seeking parliamentary approval to borrow as much as $1.65 billion to accelerate oil and gas exploration by acquiring and developing assets. The investment push comes after Exxon Mobil Corp. pulled out of an offshore prospect in the West African country in May, dealing a blow to its burgeoning oil and gas sector. There are also rising

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Crew Hawk Analytics launched by Salunda Limited

August 3, 2021
| Archives

Salunda Limited has launched Crew Hawk Analytics with an aim to provide faster and more accurate decision-making capabilities in the offshore oil and gas sector, delivering enhanced levels of safety protection and management of people and assets in the drilling Red Zone New Crew Hawk Analytics from Salunda Limited provides faster, easier and more accurate decision-making capabilities in

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Shell looking to unload $10 billion in Permian assets

August 3, 2021
| Archives

Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp. is also among companies considering bids for the assets, which are largely located in West Texas, the people said. Suitors have been invited

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Transocean issues Q2 results, backlog over $7 billion

August 3, 2021
| Archives

Transocean reported on their financial results for Q2 and here are the highlights: Total contract drilling revenues were $656 million (total adjusted contract drilling revenues of $713 million), compared with $653 million in the first quarter of 2021 (total adjusted contract drilling revenues of $709 million); Revenue efficiency was 98.0%, compared with 97.4% in the prior quarter; Operating and maintenance expense was $434 million, compared with

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Valaris reports on Q2, early signs of recovery from COVID downturn

August 3, 2021
| Archives

Valaris Limited reported on their second quarter 2021 results and here are the highlights: Floaters Floater revenues were $50 million and $18 million for the Successor and Predecessor periods, respectively. Combined floater revenues declined to $68 million in the second quarter 2021 from $97 million in the prior quarter. Excluding reimbursable items, Combined revenues declined to $62 million

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Valaris fleet status report, multiple new contracts adds over $1 billion to backlog

August 3, 2021
| Archives

Valaris shared their updated fleet status report and below are the highlights: Floaters DS-11 awarded an eight-well contract with TotalEnergies in the U.S. Gulf of Mexico. The contract is expected to commence in mid-2024 with an expected duration of three-and-a-half years DS-18 (Relentless) awarded a three-year contract with Chevron in the U.S. Gulf of Mexico, which is expected

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JDC announces reorganization plans

August 2, 2021
| Archives

Japan Drilling Company Ltd., Reorganization Company and Japan Drilling (Netherlands ) B.V., Reorganization Company (hereinafter collectively referred to as the “Companies”) hereby announce that the Companies submitted proposed modified reorganization plans to the Tokyo District Court as of July 30, 2021, following the change in the sponsor who had once been selected. The Companies had submitted the

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