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October Newsletter

October 2, 2020
| Monthly Newsletter

Welcome back to another monthly newsletter from your friends here at Rig Lynx where our only mission is to connect people…simple. Top 5 Articles for September For September we had over 15k article views, here we will cover the top 5! News from Seadrill, Posh, Maersk and Sete  Rig Lynx Monthly Rundown - Top 5 for September Market WTI is sitting at 36.70 at

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Rig Lynx Monthly Rundown – Top 5 for September

October 2, 2020
| Monthly Rundown

For September we had over 15k article views, here we will cover the top 5! News from Seadrill, Posh, Maersk and Sete We know that it is not easy at the moment but we wish all of you well wherever you are, thanks for reading with us and we wish you a great start to October! Stay safe! Seadrill Brazil subsidiary served

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Houston’s Oasis Petroleum files for bankruptcy

October 1, 2020
| Archives

Oasis Petroleum Inc filed for Chapter 11 bankruptcy protection on Wednesday, the latest U.S. shale producer to seek court-aided restructuring as the energy industry reels under an unprecedented crash in oil prices due to the COVID-19 pandemic. Shares of the company, which earlier this month skipped interest payments on some bonds, fell over 24% premarket. Virus-led lockdowns, which decimated

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Marathon cuts over 2500 employees from California and New Mexico refineries

October 1, 2020
| Archives

Marathon Petroleum Corp, the top U.S. oil refiner, is cutting 12% of its workforce amid continued declines in fuel consumption due to the COVID-19 pandemic, it said on Wednesday. Refiners and oil producers have been dismissing staff, slashing spending and reducing production to cope with weak prices and a global glut of fuel. U.S. gasoline futures are down

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Oil major BP terminates 4 employees for improper use of WeChat

October 1, 2020
| Archives

BP has terminated four trading and operations staff responsible for Chinese crude oil sales as a result of an internal investigation into trades with Singapore's Hontop Energy, three people familiar with the matter said. The decision was made this week, the people said. The staff had been placed on leave in early July while BP conducted its probe. The

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Baker Hughes lands major LNG deal in Qatar

October 1, 2020
| Archives

Baker Hughes announced an order with longtime partner Qatar Petroleum to supply multiple main refrigerant compressors (MRCs) for Qatar Petroleum’s North Field East (NFE) project, executed by Qatargas. The total award is part of four LNG “mega trains,” representing 33 million tons per annum (MTPA) of additional capacity, which will increase Qatar’s total liquefied natural gas (LNG) production capacity from 77 MTPA

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Seadrill extends forbearance agreements

October 1, 2020
| Archives

Seadrill Limited announces that it has agreed to extend and/or renew the existing forbearance agreements with certain creditors, announced on 15 September 2020, in respect of the group's senior secured credit facility agreements, senior secured notes, and guarantee facility agreement. Pursuant to the forbearance agreements, as extended, the consenting creditors have agreed not to exercise any voting rights

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VAALCO will 3-D seismic survey the entire Etame Marin block offshore Gabon

October 1, 2020
| Archives

VAALCO Energy, Inc. today announced that in connection with planning for future drilling programs at the Etame Marin block offshore Gabon, it will begin acquiring and processing new three-dimensional (“3-D”) seismic data in the fourth quarter of 2020. The Company also announced estimated third quarter 2020 production. Highlights Committed to acquiring new proprietary 3-D dual-azimuth seismic data over the

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Seadrill appoints new CEO

October 1, 2020
| Archives

The Board of Seadrill Limited is pleased to announce the appointment of Stuart Jackson as Chief Executive Officer.  Stuart Jackson, currently Chief Financial Officer, will succeed Anton Dibowitz as Chief Executive Officer with immediate effect Following Stuart’s appointment, the role and responsibilities of the Chief Financial Officer will be divided into two new roles: Grant Creed will become Chief

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