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Chesapeake preparing for bankruptcy

June 9, 2020
| Archives

Chesapeake Energy is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter. The dwindling options for a powerhouse that once rivaled Exxon Mobil for title of king of American natural gas comes after Chief Executive Officer

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Awilco terminates newbuild Nordic Winter with KFELS

June 8, 2020
| Archives

Awilco Rig 1 Pte. Ltd. , a wholly owned subsidiary of Awilco Drilling PLC (“Awilco Drilling”), has notified Keppel FELS Limited (“KFELS”) that it has exercised its contractual termination right under a newbuilding contract between KFELS and AR1 for the construction of a semi-submersible drilling rig, Nordic Winter, as a result of breaches under the Vessel Construction

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Oil Near $43 After OPEC+ Extends Production Cuts

June 8, 2020
| Archives

Oil rose to trade near $43 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, promising stricter compliance to ensure members don’t pump more than they pledged. Brent futures added as much as 2.6% after posting a sixth weekly increase on Friday, the longest run of gains since

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BP to Cut 10,000 Jobs as Virus Accelerates Reorganization

June 8, 2020
| Archives

BP Plc plans to cut 10,000 jobs as the coronavirus pandemic accelerates the company’s move to slim down for the energy transition. The public health crisis has hit company earnings and forced many to change the way they operate. European competitor Royal Dutch Shell Plc is said to be offering voluntary redundancies in a bid to become leaner,

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Rig Lynx Weekly Rundown – Top 5 from week 23

June 8, 2020
| Weekly Rundown

Happy Monday! If you missed any of the trending articles from last week we got them all here for you to start your week off with For week 23, May 31st - June 6th, we had 3.3k page views, and the below top 5 grabbed up 1k of them Have a great week! International Rig Count Down 321 Units Since May 2019 Seadrill Limited

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International Rig Count Down 321 Units Since May 2019

June 6, 2020
| International Rig Count

Baker Hughes issued their international rig count data, here is the break down: The international rig count for May was 805, down 110 units from the count in April and down 321 from the 1126 counted in May 2019. Latin America is down 27 units to 62 from the April count of 89 units and is down 117 units year-over-year. The Asia-Pacific region is up 5 units to 196 from the April count of 191 units

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New regulatory measure to improve review process for exploratory drilling projects in the Canada-Newfoundland and Labrador offshore

June 5, 2020
| Archives

The Government of Canada is committed to ensuring that projects are assessed in a manner that maintains high standards of environmental protection. The Government is also committed to ensuring that such processes are efficient and enable good projects to proceed. The Government of Canada recognizes the value of the Newfoundland and Labrador (NL) offshore petroleum sector to the province and the country and the importance of

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BP in sale talks on $1 billion stake in giant Oman project

June 4, 2020
| Archives

BP is in early-stage discussions to sell about a 10% stake in a key gas field in Oman as part of the energy giant’s plans to cut debt, according to people familiar with the matter. London-based BP is talking with interested parties about cutting part of its 60% holding in the Khazzan natural gas field, the people said,

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OOC Oil & Gas Blockchain Consortium Announces Successful Completion of Pilot Blockchain Technology

June 4, 2020
| Archives

The Offshore Operators Committee (OOC) Oil & Gas Blockchain Consortium announced the successful completion of its first pilot leveraging blockchain technology. The pilot, developed in partnership with Data Gumbo utilizing its GumboNet™ blockchain network, proved a platform for automating produced water haulage from field reading to invoice payment. It was executed on five Equinor wells in the Bakken field in North

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