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Valaris Adds $285 Million to the Backlog with New Contracts

November 27, 2019
| Archives

Valaris plc announced today new contracts and contract extensions, with associated revenue backlog of approximately $285 million, awarded subsequent to a prior fleet status report dated October 25, 2019. VALARIS DS-18 (Relentless) contract extended due to the exercise of a one-well priced option with EnVen in the U.S. Gulf of Mexico, with an estimated duration of 45 days

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Brazil’s Petrobras plans to drill up to eight oil wells in 2020

November 25, 2019
| Archives

Brazilian state-run oil firm Petroleo Brasileiro SA plans to drill up to 8 oil wells in 2020, mostly in the pre-salt area, its Exploration & Production director, Carlos Alberto de Oliveira, said on Monday. Petrobras, as the company is known, is expected to disclose details in a meeting with investors later this year, after releasing its business plans

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Popular News – Top 5 from this past week!

November 25, 2019
| Weekly Rundown

We had 5.3k page views this past week and the top 5 grabbed up 3.5k of them, below are our top 5 articles for the week of Nov 18 – Nov 24! #1 with 1123 views Billionaire Fracking Brothers Hammered by Permian Holdings #2 with 1046 views CNOOC hires Valaris ship for exploratory wells #3 with 577 views Seadrill issues 3rd Q

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North America Rig Count: U.S. down 3 and Canada up 3

November 23, 2019
| Weekly Rig Count

  Baker Hughes Rig Count: U.S. -3 to 803 rigs U.S. Rig Count is down 3 rigs from last week to 803, with oil rigs down 3 to 671, gas rigs unchanged at 129, and miscellaneous rigs unchanged at 3. U.S. Rig Count is down 276 rigs from last year’s count of 1,079, with oil rigs down 214, gas rigs

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CNOOC hires Valaris ship for exploratory wells

November 23, 2019
| Archives

The CNOOC subsidiary, China Offshore Oil Corporation E&P Mexico, has signed a drilling contract with Valaris for the Valaris Renaissance drilling vessel that recently completed drilling of the first exploratory wells in Mexico for the French Total and the Malaysian Petronas. CNOOC won the CNH-R01-L04-A1.CPP contract in Bid 4 of the 2016 oil round for Contract Area 1

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Seadrill issues 3rd Q results

November 22, 2019
| Archives

Seadrill Limited (SDRL) – Third quarter 2019 results Hamilton, Bermuda, November 21, 2019 – Seadrill Limited (“Seadrill†or “the Companyâ€) (NYSE:SDRL, OSE:SDRL), a world leader in offshore drilling, announces its third quarter results for the period ended September 30, 2019. Highlights Lower economic utilization of 93%1 primarily due to the West Linus 5-year classingRevenue up 14% at

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Billionaire Fracking Brothers Hammered by Permian Holdings

November 22, 2019
| Archives

Farris and Dan Wilks hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion, giving them ample resources to fund their interests in land, politics and religion. But many of their more recent investments in the Permian Basin have turned to dust. The brothers put some of their fortune into

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Seadrill Chairman John Fredriksen steps down

November 22, 2019
| Archives

Seadrill Chairman John Fredriksen, the oil rig firm’s top shareholder, is stepping down with immediate effect, the company said on Thursday, as it holds discussions with lenders about restructuring its massive debts. The 75-year-old billionaire investor, who said his support for the company remained unchanged, will be replaced by Glen Ole Roedland, who has worked in shipping, oil,

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Transporting oil and gas drilling rigs is a tough business in an unpredictable market

November 19, 2019
| Business Spotlight

Moving oil rigs and oil-drilling equipment is not for the faint of heart. Every niche industry presents unique supply chain challenges, but oil rig transporters said few jobs are as challenging as hauling oil and gas drilling machinery. “There are no classes at the University of Texas training drivers or training people how to break down and assemble rigs

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$460m of land drilling contracts awarded to KCA Deutag in the Middle East, Africa and Europe

November 18, 2019
| Archives

KCA Deutag (“KCADâ€) today announces that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe.  Middle East Following the announcement we made in March that a client had reserved three rigs for an option period, we can now confirm that these have subsequently been contracted for two years, with an

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