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Pacific updates on prearranged reorganization

November 11, 2020
| Archives

Pacific Drilling S.A. announced today that it is commencing solicitation of votes on its proposed prearranged chapter 11 plan of reorganization. On November 10 , the United States Bankruptcy Court for the Southern District of Texas—Houston Division (the “Bankruptcy Court”) entered an order, among other things, (i) conditionally approving the Disclosure Statement for the First Amended Joint Plan of Reorganization of Pacific Drilling S.A. and

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Maersk lands work for the Viking

November 11, 2020
| Archives

Maersk Drilling has secured a contract from Brunei Shell Petroleum Company Sdn. Bhd. (BSP) for the 7th generation drillship Maersk Viking to drill one deepwater exploration well offshore Brunei Darussalam. The contract is expected to commence in March 2021, with an estimated duration of 35 days. The firm contract value is approximately USD 9m, including additional services

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ConocoPhillips estimates 190 million bbl oil recovery from new discovery offshore Norway

November 11, 2020
| Archives

ConocoPhillips today announced a new gas condensate discovery in production license 1009 located 22 miles northwest of the Heidrun Field and 150 miles from the coast of Norway in the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 65 percent working interest. PGNiG Upstream Norway AS holds 35 percent working interest. The discovery well, 6507/4-1

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Tullow completes $575 million sale of Uganda assets to Total

November 10, 2020
| Archives

Tullow Oil plc is pleased to announce that the sale of its assets in Uganda to Total has completed with $500 million consideration received earlier today. Tullow is also due to receive a further $75 million when a Final Investment Decision is taken on the development project plus contingent payments linked to the oil price payable after

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Equinor signs up Baker, Halliburton and Schlumberger for $455 million deal in Santos Basin

November 10, 2020
| Archives

Norway’s Equinor awarded oil services firms Baker Hughes, Halliburton and Schlumberger $455 million worth of drilling and well service contracts at its Bacalhau project off Brazil, the company said on Tuesday. “Brazil is a core area for Equinor, and Bacalhau is an important asset in the Brazilian pre-salt Santos area. Together with our partners, we are currently maturing

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Cenovus to sell Alberta assets to Headwater Exploration

November 10, 2020
| Archives

Cenovus Energy Inc. through a wholly owned partnership, has entered into a definitive agreement to sell its Marten Hills oil assets in northern Alberta to Headwater Exploration Inc. for initial cash and common share equity consideration of approximately $100 million. Total consideration paid to Cenovus consists of $35 million in cash and 50 million common shares of

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Shell to cut over 500 jobs from Singapore refinery

November 10, 2020
| Archives

Royal Dutch Shell will halve crude processing capacity and cut jobs at its Pulau Bukom oil refinery in Singapore as part of an overhaul to reduce its carbon emissions. The refinery on Pulau Bukom, a small island in the Southeast Asian city-state, can process 500,000 barrels per day (bpd) of oil and is Shell’s largest wholly owned refinery

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Update on Aker Solutions merger with Kvaerner

November 9, 2020
| Archives

Reference is made to the previous stock exchange announcements made by Kværner ASA ("Kvaerner") regarding the contemplated merger with Aker Solutions ASA ("Aker Solutions") as further set out in the merger plan dated 17 July 2020 (the "Merger"). The Merger contemplates that Aker Solutions will absorb all the assets, rights and obligations of Kvaerner and that Kvaerner is dissolved. Kvaerner

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Noble preparing to emerge from bankruptcy

November 9, 2020
| Archives

Noble Corporation plc announced Friday that it has changed its name to Noble Holding Corporation plc to allow the ultimate parent company that emerges from the Chapter 11 reorganization to use the name “Noble Corporation plc.” The temporary name change relating to the ultimate parent entity will not affect current shareholders, and no action by shareholders is

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