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North America Rig Count: U.S. adds 2 and Canada adds 4

May 28, 2021

Baker Hughes Rig Count: U.S. +2 to 457 rigs U.S. Rig Count is up 2 from last week to 457 with oil rigs up 3 to 359, gas rigs down 1 to 98, and miscellaneous rigs unchanged at 0. U.S. Rig Count is up 156 rigs from last year's count of 301, with oil rigs up 137 gas rigs

Seadrill Partners emerge from bankruptcy lead by new CEO Steven Newman

May 27, 2021

| Archives

Seadrill Partners LLC announced that it has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the “Plan”). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived. The Plan has equitized approximately $2.8 billion in funded debt obligations, leaving the Company debt free

Maersk to sell the Inspirer for all cash deal, 373m USD

May 27, 2021

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Maersk Drilling has entered into an agreement to divest the combined drilling and production unit Mærsk Inspirer to Havila Sirius for a price of USD 373m. This transaction is in line with Maersk Drilling’s strategic objective of aligning its fleet to its core business, while also further strengthening Maersk Drilling’s balance sheet through a material reduction of

Equinor hires in a third Odfjell rig

May 27, 2021

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Odfjell has been awarded a drilling contract for its Deepsea Stavanger mobile rig, scheduled to start drilling in February 2022. The contract includes continuing options after the initial phase. The contract value is estimated at around USD 40 million for the fixed part of the contract. Drilling services and other additional services, such as running casing, treatment of

Shell ordered to deepen carbon cuts in landmark Dutch climate case

May 27, 2021

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A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around the world. Shell said it was "disappointed" and plans to appeal the ruling, which comes amid rising pressure on energy companies from investors, activists and governments to shift

Vertex Energy to acquire Shell’s Mobile, Alabama refinery

May 27, 2021

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Royal Dutch Shell is selling its Mobile, Alabama refinery to Vertex Energy for $75 million, the company said on Wednesday. Vertex is a Texas-based specialty refiner of alternative feedstocks. Shell is shrinking its refining and chemicals portfolio as part of a broader shift by oil majors to reduce hydrocarbon emissions and shift to lower-carbon fuels. Shares of Vertex surged more

Biden defends Conocos Arctic drilling plan originally approved by Trump

May 27, 2021

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The Justice Department is defending the Trump administration’s approval of a massive ConocoPhillips Alaska Inc. project in federal court, over the objections of environmentalists who say the government didn’t adequately consider the venture’s effect on polar bears and the climate. In a filing with the U.S. District Court for the District of Alaska, the Biden administration said Wednesday

Rig Lynx Weekly Rundown – After 186 rescued, still scores missing offshore India west coast

May 24, 2021

| Weekly Rundown

After 186 rescued, still scores missing offshore India west coast The Indian Navy mounted a massive air and sea rescue mission on Tuesday for 79 oil workers and crew whose barge sank in heavy seas following a powerful cyclone that tore up the west coast killing at least 29 people Read More Seadrill Limited provides first quarter update, backlog at

Cabot Oil & Gas, Cimarex Energy to merge to create $17 bln producer

May 24, 2021

| Archives

Cabot Oil & Gas Corp and Cimarex Energy Co on Monday agreed to merge to form a U.S. oil and gas producer with an enterprise value of about $17 billion, the latest deal in a sector rebounding from one of its worst downturns. The deal frenzy reflects hopes to ride a recovery in oil and gas prices as fuel demand

TNG on IEA net zero report – Entire report emphasizes ongoing role of oil and gas globally

May 24, 2021

| Archives

Last Tuesday, the International Energy Agency (IEA) released a report detailing its “net-zero pathway”. The report covered hundreds of different steps the world could begin to take today to reach net-zero emissions by 2050. Most notably, the report outlined an extreme scenario for global oil and gas producers, which included no new investment in fossil-fuel supply projects. As anti-fossil fuel

Author: Admin

North America Rig Count: U.S. adds 2 and Canada adds 4

Seadrill Partners emerge from bankruptcy lead by new CEO Steven Newman

Maersk to sell the Inspirer for all cash deal, 373m USD

Equinor hires in a third Odfjell rig

Shell ordered to deepen carbon cuts in landmark Dutch climate case

Vertex Energy to acquire Shell’s Mobile, Alabama refinery

Biden defends Conocos Arctic drilling plan originally approved by Trump

Rig Lynx Weekly Rundown – After 186 rescued, still scores missing offshore India west coast

Cabot Oil & Gas, Cimarex Energy to merge to create $17 bln producer

TNG on IEA net zero report – Entire report emphasizes ongoing role of oil and gas globally

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