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Transocean buys into Enhanced Drilling

August 6, 2020
| Archives

Norwegian offshore services provider Enhanced Drilling, the global leader in subsea management and control of drilling fluids, has attracted an investment from Transocean, the global leader in ultra-deepwater and harsh environment drilling services and will appoint a Transocean representative to Enhanced Drilling’s Board of Directors this month. Enhanced Drilling’s other major shareholders include: EV Private Equity, Shell Ventures

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Weatherford Q2 Highlights

August 6, 2020
| Archives

Weatherford Second Quarter Highlights: Total cash of $756 million as of June 30, 2020, a decrease of $8 million from March 31, 2020 Signed financing commitment for $500 million of new senior secured first lien notes subject to certain closing conditions Cash flows from operations of $31 million and unlevered free cash flow of $108 million Operating loss of $497 million and adjusted EBITDA of $79 million Cost savings plan expanded to deliver an expected $650 million of savings in

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Total and Apache hit oil in Suriname

August 6, 2020
| Archives

The discovery confirms a world-class hydrocarbon resource. This follows previous discoveries at Maka Central in January and Sapakara West in April. The well was drilled by Noble Sam Croft drillship in a water depth of about 1.000 meters and well encountered 278 meters (912 feet) of net oil and volatile oil / gas condensate pay in two intervals. The

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Noble lands contract for the Sam Croft in Guyana with ExxonMobil

August 6, 2020
| Archives

In early August, ExxonMobil awarded the drillship Noble Sam Croft a new 6-month contract to drill offshore Guyana, with operations commencing in the fourth quarter of 2020 after the rig finishes its current program offshore Suriname.  This contract was awarded under the previously-announced Commercial Enabling Agreement (CEA) established with ExxonMobil for Guyana earlier this year.  With this award, all four of Noble's

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Talos Energy Q2 Operational and Financial Highlights

August 6, 2020
| Archives

Talos Energy Second Quarter Financial and Operational Highlights: Production of 52.4 thousand barrels of oil equivalent per day ("MBoe/d"), of which 69% was oil and 76% was liquids. Production for the quarter was impacted by 14.4 MBoe/d of production deferrals associated with voluntary shut-ins, accelerated maintenance, Tropical Storm Cristobal and other miscellaneous items. Net Loss of $140.6 million in

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Ocyan eyes new platform contracts worth millions

August 5, 2020
| Archives

Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said Ocyan is eyeing contracts potentially worth hundreds of millions of dollars for deepwater platforms serving state-run oil company Petroleo Brasileiro SA. Petrobras

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Brazil’s Ocyan eyes contracts worth hundreds of millions of dollars

August 5, 2020
| Current News

Offshore oil industry supplier Ocyan plans to participate in bids for much bigger platforms than it currently has in Brazilian waters, the world’s largest market for floating platforms, Chief Executive Roberto Bischoff told Reuters. He said Ocyan is eyeing contracts potentially worth hundreds of millions of dollars for deepwater platforms serving state-run oil company Petroleo Brasileiro SA. Petrobras

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2020’s largest discovery in Norway goes to Neptune

August 4, 2020
| Archives

Neptune Energy and its partners today announced the commercial discovery of oil at the Dugong well (PL882) in the Norwegian sector of the North Sea, the largest discovery in Norway so far this year. The volumes are estimated to be in the range of 6.3 – 19.0 million standard cubic meters (MSm3) of recoverable oil equivalent, or 40

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