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Kosmos hits oil on Winterfell

January 21, 2021
| Archives

Kosmos Energy announced an oil discovery in the U.S. Gulf of Mexico at the Winterfell infrastructure-led exploration (“ILX”) well (Kosmos working interest 17.5%). Winterfell was designed to test a sub-salt Upper Miocene prospect located in Green Canyon Block 944. The well encountered approximately 26 meters (85 feet) of net oil pay in two intervals. Andrew G. Inglis, Kosmos Energy’s chairman and chief executive officer

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Canada’s TC Energy to cut 1,000 construction jobs, halt KXL work

January 21, 2021
| Archives

Calgary-based TC Energy Corp will eliminate more than 1,000 construction jobs in coming weeks, and halt work on the Keystone XL oil pipeline, due to U.S. President Joe Biden’s revoking of the project’s presidential permit, the company said in an email to employees. TC Energy separately confirmed the email, sent by KXL President Richard Prior on Wednesday and

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Archer awarded wireline contract with Equinor totaling NOK 2.5 billion

January 20, 2021
| Archives

Archer Limited (“Archer”) is pleased to announce that Equinor has awarded Archer Integrated Services AS, in alliance with Welltec Oilfield Services (Norway) AS (“Welltec”) and Schlumberger Norge AS (“Schlumberger”), a five-year contract for the provision of integrated wireline services in the North Sea. The services offered under the contract include cased hole mechanical wireline services, tractor and powered

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Valaris 8500 and 8501 will be converted by SpaceX

January 20, 2021
| Archives

Elon Musk’s SpaceX bought two deepwater rigs last year and is converting them into floating launchpads, to support the enormous Starship rockets that the company is developing. The rigs are in the Port of Brownsville, near SpaceX’s Starship development facility in Boca Chica, Texas. The rigs have been renamed Deimos and Phobos, presumably in homage to the Martian moons. Starship is

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Dolphin Drilling awarded a contract for the Borgland

January 20, 2021
| Archives

Dolphin Drilling has secured another contract with a new Norwegian operator. This time with INEOS Energy AS on the Norwegian Continental Shelf. The work, scheduled to commence in the Norwegian Continental Shelf during Q3 2021, include drilling of the Fat Canyon well in the Norwegian Sea with an estimated duration of 40 days. Erik Magnesen, General Manager and

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Over 400k acres worth of Alaska drilling leases issued

January 20, 2021
| Archives

The Trump administration said on Tuesday it had issued drilling leases on more than 400,000 acres (160,000 hectares) of Alaska’s Arctic National Wildlife Refuge (ANWR), delivering on a promise to fossil-fuel proponents on President Donald Trump’s last full day in office. Formal issuance of the leases by the U.S. Bureau of Land Management came a day before the

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South Sudan to increase production from 170k bpd to 300k bpd with new agreement

January 19, 2021
| Archives

South Sudan and Sudan have signed an agreement to increase oil production in South Sudan’s northern fields from 170,000 barrels per day (bpd) to 300,000 bpd within the next three years. Commencing from 2021, the agreement provides for enhanced bilateral relations by focusing on investment and production as a way to mitigate economic challenges being experienced by both

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New well for Deepsea Atlantic

January 19, 2021
| Archives

Reference is made to the press release of 18 December 2020 whereby Equinor exercised 2 new wells under the Master Frame Agreement. Please be advised that Equinor has now exercised one additional well for Deepsea Atlantic. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as

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Norway awards oil and gas exploration rights to 30 firms

January 19, 2021
| Archives

Norway awarded 61 offshore exploration blocks to 30 oil firms in its latest pre-defined areas (APA) licensing round as it seeks to find more resources close to existing fields, Energy Minister Tina Bru said on Tuesday. Norway, which began to extract oil and gas from its offshore continental shelf 50 years ago, believes it has still only pumped

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Borr gets support from creditors on liquidity plan

January 19, 2021
| Archives

Borr Drilling Limited is pleased to confirm that the liquidity improvement plan announced in December 2020 has received support from its creditors, including: The $400m syndicated bank facilities maturity deferred to January 2023 The $195m Hayfin facility maturity deferred to January 2023 $760m PPL facilities maturity amended to May 2023, with interest payments deferred until March 2023, except $6m payment

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