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NexTier and NOV team up on electronic fracking

November 19, 2020
| Archives

NexTier Oilfield Solutions Inc. and National Oilwell Varco, Inc. announce that the two companies recently entered into an agreement to collaboratively field test NOV’s electric fracturing system known as the Ideal™ eFrac fleet. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201118005378/en/ The Ideal eFrac fleet provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity

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Transocean Mykonos and Corcovado extended in Brazil

November 19, 2020
| Archives

Transocean Ltd. announce that Petrobras has exercised a 680-day preexisting, fixed price option for the Deepwater Corcovado, and a 815-day preexisting, fixed price option for the Deepwater Mykonos. Together these contract extensions add approximately $297 million to Transocean’s industry leading backlog. Both rigs will continue to operate in Brazil and are subject to annual indexed dayrate escalations. Source: Transocean

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Total in investment talks with Libya

November 19, 2020
| Archives

France’s Total SE is in talks to increase energy investment in Libya, where oil output has surged in the past two months amid a truce in the OPEC member’s civil war. Total and Libya’s state-run National Oil Corp. held a virtual meeting and discussed efforts to increase Libyan production capacity and output “to the highest levels,” the NOC

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Sepura grabs 3 well deal with Total E&PCongo

November 18, 2020
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Sapura Energy’s drilling arm continues to gain foothold in the African continent, as Sapura Drilling Holdings Limited was awarded a contract by Total Exploration and Production Congo for the provision of its Tender Assist Drilling Rig “Sapura Berani” services. The scope of the contract comprises the provision of semi tender-assist drilling rig services for three wells offshore

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Staatsolie offers up 8 blocks for lease offshore Suriname

November 18, 2020
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Staatsolie Hydrocarbon Institute N.V. ("SHI"), a wholly owned subsidiary of Staatsolie Maatschappij Suriname N.V. ("Staatsolie"), is pleased to announce Staatsolie's intention to offer international and national oil companies involved in exploration and production ("E&P"'), eight new blocks in the currently underexplored Shallow water acreage offshore. The blocks are located in the west of the Shallow Offshore (SHO)

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Gulf of Mexico Lease Sale Pull High Bids from Equinor and Repsol

November 18, 2020
| Archives

The Trump administration’s final sale of oil and gas leases in the Gulf of Mexico generated nearly $121 million in high bids on Wednesday, an improvement from the last government auction held just as the coronavirus pandemic was beginning to depress world demand for fuel. The sale was the last before the January inauguration of President-elect Joe Biden,

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Vantage Fleet Status Update – Awards and extensions

November 17, 2020
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Vantage Drilling published their fleet status update and below are the highlights: Pearl Driller 45-day campaign offshore Indonesia for Petronas Platinum Explorer Current contract extension into Q2 2021 for ONGC in India Vantage fleet status update From their recent 3rd quarter results, Ihab Toma, CEO had these additional comments: “I continue to be very proud of the Company’s performance during these challenging times. While

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Global discovered oil and gas resources set to reach 10 billion boe in 2020

November 17, 2020
| Archives

Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year. Found resources already exceed 8 billion barrels of oil equivalent (boe) and are projected to settle at around 10 billion boe by year-end, a Rystad Energy analysis reveals. About 3.75 billion boe, or 46% of total

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