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Bassoe: Jackup Report

January 13, 2020
| Archives

Year 2019 ended spectacularly for jackup fixtures, with the big news being Shelf Drilling’s 35 years of extensions (3 x 10 years and 1 x 5 years) with Saudi Aramco for four older jackups. Also in Saudi Arabia, ADES received a five-year extension and Seadrill got two three-year extensions. These, plus fixtures in other regions like SE

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Apache Corp to close San Antonio office, cut 272 jobs

January 10, 2020
| Archives

U.S. oil and gas producer Apache Corp will close its San Antonio, Texas office overseeing its struggling Alpine High project in the Permian basin and 272 jobs will be affected. The closure follows the October resignation of Steven Keenan, the former senior vice president of worldwide exploration who was widely credited with the Alpine High discovery in 2016. Alpine

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Maersk Drilling secures contract for Maersk Valiant offshore Colombia

January 10, 2020
| Archives

Maersk Drilling has been awarded a contract for the 7th generation drillship Maersk Valiant which will be employed by Noble Energy for a one-well campaign offshore Colombia. The contract is expected to commence in Q3 2020, in direct continuation of the rig’s previous contract. The contract has an estimated duration of 65 days and a contract value

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Multi-billion dollar oil and gas boom on Newfoundland’s horizon

January 9, 2020
| Archives

It’s a recipe for an oil and gas bonanza.  Start with the staggering 52 billion barrels of oil and 200 trillion cubic feet of gas estimated under the seafloor.  Add a dozen of the world’s biggest oil and gas companies, up to a hundred exploratory wells over the coming decade and the potential for jobs galore.   The result is

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Apache shares jump 27% on major discovery in Suriname with Total

January 9, 2020
| Archives

Apache Corp and Total SA said on Tuesday they had made a major oil discovery in a closely watched area off the coast of South America’s Suriname, sending Apache’s shares surging nearly 27%. The discovery, dubbed “among the most anticipated in the world†by one brokerage, is seen as central to Apache’s efforts to reduce its reliance

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Occidental Petroleum slashing jobs ‘significantly’ in cost-cutting move

January 9, 2020
| Archives

  Occidental Petroleum Corp said on Wednesday it would begin dismissing workers in a new cost-cutting move following its $38 billion acquisition of Anadarko Petroleum. The company has already “significantly†cut staff through a voluntary program, spokeswoman Melissa Schoeb said in an email. She did not respond to requests for information about the number of employees to be cut

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Transocean Ltd. announces $352.9 million in new rig contracts and exercised options

January 8, 2020
| Archives

Transocean Ltd. announced today that as the offshore drilling market continues to improve, the company is observing an increase in contract opportunities for its ultra-deepwater and harsh environment drilling services. “Customer demand for the highest specification ultra-deepwater floaters now equals or exceeds the number of marketable rigs currently available in many areas,†said Transocean President and Chief Executive Officer Jeremy Thigpen. “As

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Premier Oil contracts the Valaris-DS9

January 8, 2020
| Archives

Exploration and appraisal Update In November, Premier completed the farm in for a 60 per cent interest in the conventional Area A Icewine project in the Alaska North Slope.  The Nordic-3 rig has been contracted to appraise the Malguk-1 discovery which Premier estimates could contain over 1 bn bbls of STOIIP.  Construction of the ice road connecting the

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International Rig Count up 79 units since December 2018

January 8, 2020
| International Rig Count

Baker Hughes issued their international rig count data, here is the break down: The international rig count for December was 1,104, up 10 from the 1,096 counted in November and up 79 from the 1025 counted in December 2018. Latin America is down 5 units to 191 from November’s count of 196 units and is up 6 units year-over-year. The

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