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ExxonMobil Permian development to provide $64 billion in benefits to New Mexico

May 17, 2019
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IRVING, Texas – ExxonMobil today said a new study estimates the company’s development of Permian Basin resources in New Mexico will generate approximately $64 billion in net economic benefits for the state and local communities over the next 40 years, creating thousands of new jobs and providing increased funding for education, health and human services and infrastructure

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EnscoRowan Awarded $180 Million by Arbitration Tribunal

May 17, 2019
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LONDON–(BUSINESS WIRE)– Ensco Rowan plc today announced that an arbitration tribunal has awarded the Company $180 million in damages in its proceedings against Samsung Heavy Industries, a shipyard in South Korea (“SHIâ€). Further, the Company will be claiming interest on this amount and costs incurred in connection with this matter. In April 2016, the Company initiated arbitration proceedings

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DNV-GL Highlights Digital Skills Gap in Energy Sector

May 17, 2019
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Enabling successful digital transformation goes beyond technology. For an organization to truly benefit from any new approach, every layer of the organization needs to be involved and every employee needs to be on board. Organizations can invest millions into new systems, processes and technologies but all this investment will be worthless if the company structure and culture prevents

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8 rig years of backlog added in Q1 for Shelf Drilling

May 16, 2019
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Highlights: High Island V: Three-year contract with Saudi Aramco commenced in April 2019 Ron Tappmeyer: Three-year contract with ONGC in India with expected commencement in June 2019 Trident 16: One-year contract (plus options) with Petrobel in Egypt commenced in February 2019 Shelf Drilling Resourceful: Six-month extension with Chevron in Nigeria, now committed until October 2019 Adriatic I: 105-day extension with Sirius Petroleum,

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Pacific Drilling drops $84 million in Q1 but CEO says “We are encouraged by the upturn in utilizationâ€

May 16, 2019
| Archives

LUXEMBOURG–(BUSINESS WIRE)– Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling†or the “Companyâ€) today reported results for the first quarter of 2019. Net loss for the first-quarter 2019 was $84.0 million or $1.12 per diluted share. EBITDA(a) for the first-quarter 2019 was $1.9 million. “Our strong operational performance, reflected by 98.1% revenue efficiency for the quarter, and focus on spend

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Transocean’s subsidiary “Sentry†raising $500 million

May 16, 2019
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STEINHAUSEN, Switzerland, May 15, 2019 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that Transocean Sentry Limited (“Transocean Sentryâ€), a wholly owned indirect subsidiary of Transocean, commenced a private offering of U.S. $500 million in aggregate principal amount of senior secured notes due 2023 (the “Notesâ€) to eligible purchasers pursuant to Rule 144A/Regulation S. The Notes will be guaranteed by Transocean Ltd., Transocean Inc. and wholly owned indirect subsidiaries that

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Pacific Oil & Gas Ltd. to acquire Canbriam Energy Inc.

May 14, 2019
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CALGARY, May 13, 2019 /PRNewswire/ – Canbriam Energy Inc. (“Canbriamâ€) and Pacific Oil and Gas Ltd. (“PO&Gâ€) today jointly announce the signing of definitive documents for the acquisition by PO&G of all of the issued and outstanding shares of Canbriam for cash consideration (the “Transactionâ€). Canbriam’s Board of Directors has provided unanimous approval of the Transaction, and all of the

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