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Oil Price War: Saudi Arabia made the global deal dependent on Mexicoâ€™s participation

April 10, 2020

An historic multilateral deal to lower global oil production and stabilize prices, led by record cuts from Saudi Arabia and Russia, is at risk of collapse after Mexico refused to sign up. The impasse casts doubt on efforts to revive the market from a debilitating coronavirus-induced slump. The deal by the coalition of nations known as OPEC+, which

Noble issues fleet update status

April 10, 2020

| Archives

New Contracts / Extensions / Modifications / Letters of Intent Guyana As previously announced, the Noble Tom Madden, Noble Don Taylor and Noble Bob Douglas were added to the CEA framework agreement with ExxonMobil. Vietnam Noble Clyde Boudreaux â€“ Early June 2020 to Late July 2020. Qatar Noble Mick Oâ€™Brien â€“ Late March 2020 to Late August 2020 (extension). In addition, the Company expects

North America Rig Count: U.S. down 62 and Canada down 6

April 10, 2020

| Weekly Rig Count

Baker Hughes Rig Count: U.S. -62 to 602 rigs U.S. Rig Count is down 62 rigs from last week to 602, with oil rigs down 58 to 504, gas rigs down 4 to 96, and miscellaneous rigs unchanged at 2. U.S. Rig Count is down 420 rigs from last yearâ€™s count of 1,022, with oil rigs down 329, gas

International Rig Count up 26 units since March 2019

April 10, 2020

| International Rig Count

Baker Hughes issued their international rig count data, here is the break down: The international rig count for March was 1,059, down 26 units from the count in February and up 58 from the 1039 counted in March 2019. Latin America is down 15 units to 169 from the February count of 184 units and is down 19 units

Seadrill Receives Notice from NYSE regarding Continued Listing Standard

April 9, 2020

| Archives

Seadrill Limited today announced that on March 26, 2020, the Company has received written notice from the New York Stock Exchange that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common shares had fallen

Canada leads global list of shut-ins

April 9, 2020

| Archives

The Covid-19 pandemic has devastated global oil demand while producing countries fail to agree on output cuts, and as onlookers have predicted, it was a matter of time until shut-ins would start. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated to reach above 1.1 million barrels

Offshore Drillers to see contract cancellations of up to $3 bn till 2021

April 9, 2020

| Archives

The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers will see up to 10% of their contract volumes canceled in 2020 and 2021, representing a combined loss

Pacific Drilling issues letter to staff

April 8, 2020

| Archives

Recent letter sent to Rig Lynx from our sources dated April 1, Pacific CEO: With this rapid pace of change we must adapt quickly and make critical decisions that support our longer-term financial viability. Pacific Drilling CEO: I want to take this opportunity to communicate with you about the profound impact Coronavirus, or COVID-19, is having on so many around

BHP Group says â€˜small numberâ€™ of COVID-19 cases among staff but no hit to operations

April 8, 2020

| Archives

BHP Group said on Wednesday that a â€œsmall numberâ€ of its total workforce had been confirmed with COVID-19, but it had not impacted operations at any of its operations. â€œThere has not been any broader transmission from these cases to other workers, or any impact on sites or operations,â€ the worldâ€™s biggest miner said in a statement on

Wintershall Dea makes discovery in Norwegian Sea

April 8, 2020

| Archives

Bergknapp oil discovery with resource estimate between 26â€“97 million boe Appraisal measures and development options being considered Wintershall Dea, Europeâ€™s leading independent gas and oil company, has made an oil discovery at the own-operated Bergknapp prospect in the Norwegian Sea, close to the Maria field. The well, drilled by the Scarabeo 8 drilling rig, encountered an oil column of

Author: Admin

Oil Price War: Saudi Arabia made the global deal dependent on Mexicoâ€™s participation

Noble issues fleet update status

North America Rig Count: U.S. down 62 and Canada down 6

International Rig Count up 26 units since March 2019

Seadrill Receives Notice from NYSE regarding Continued Listing Standard

Canada leads global list of shut-ins

Offshore Drillers to see contract cancellations of up to $3 bn till 2021

Pacific Drilling issues letter to staff

BHP Group says â€˜small numberâ€™ of COVID-19 cases among staff but no hit to operations

Wintershall Dea makes discovery in Norwegian Sea

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