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Schlumberger introduces TruLink dynamic survey while drilling service

October 30, 2020
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Schlumberger has introduced the TruLink* definitive dynamic survey-while-drilling service. The new service helps operators to enhance end-to-end well construction operations and reduce overall drilling costs by performing definitive dynamic surveys while drilling on bottom that are used to identify and mitigate potential drilling risks. “TruLink service advances well construction operations and improves overall drilling performance through its unique,

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Valaris announces quarter 3 results and operational update

October 30, 2020
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Below are the operational highlights Floaters The floater contracting environment remains challenging due to limited demand, excess newbuild supply and the fall in oil prices earlier in the year. Floater demand declined materially in March and April 2020, as our customers reduced capital expenditures particularly for capital-intensive, long-lead deepwater projects in the wake of oil price declines from around

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Exxon plans on layoffs up to 14,000 across the globe

October 30, 2020
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Exxon Mobil Corp said on Thursday it could cut its global workforce by about 15%, including deep white-collar staff reductions in the United States, as the COVID-19 pandemic batters energy demand and prices. Exxon and other oil producers have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. The top U.S.

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700 Chevron employees in Houston to be laid off starting this month

October 28, 2020
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Chevron Corp will lay off about 25% of Noble Energy's employees who joined the oil major after its $4.1 billion purchase of the smaller rival earlier this month, the company told Reuters on Tuesday. A collapse in crude oil prices has forced most oil and gas producers to drastically cut costs by laying off thousands of employees and

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Chevron sells out of the Appalachian basin for $735 million

October 28, 2020
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Natural gas producer EQT Corp said on Tuesday it will buy U.S. oil major Chevron Corp's assets in the Appalachian basin for $735 million. The deal includes about 100 work-in-progress wells, acreage in the Marcellus basin and a 31% stake in Laurel Mountain Midstream, a joint venture between Chevron, producer Laurel Mountain and pipeline operator Williams Cos Inc. EQT’s

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Saipem publishes results of the third quarter and the first nine months of 2020

October 28, 2020
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In a scenario that is still remarkably complex due to the pandemic, revenues and adjusted EBITDA margin, which attested a trend of improvement in the third quarter, and the progress of project activities demonstrate the resilience of the company in the market context. The financial structure is confirmed robust and well-balanced, with increasing liquidity compared to end of

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Borr sells jackup Atla (ex GSF Constellation 1)

October 28, 2020
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Borr Drilling Limited has entered into an agreement to sell its cold stacked jack-up drilling rig “Atla” to an independent operator. The completion of the sale is expected in the fourth quarter 2020. Together with the previously announced sale of the standard jack-up drilling rig “Eir”, which has been completed in October, the Company will record total

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DanaGas sells off onshore assets in Egypt

October 27, 2020
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Dana Gas has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group, for the sale of its onshore Egyptian producing oil and gas assets for a consideration of up to $236 million including contingent payments. IPR is a leading private E&P operator in Egypt, with nine active concessions, and over

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