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Anadarko Leaning Toward $38 Billion Occidental Bid Over Chevron

April 29, 2019
| Archives

Anadarko Petroleum Corp. is “preparing to endorse†Occidental Petroleum Corp.’s $38 billion takeover offer, the Financial Times reported, a move that threatens to scupper a previously agreed deal with Chevron Corp. Anadarko’s board of directors determined that the cash and stock offer from Occidental is superior to Chevron’s, according to the FT report, which cited people it didn’t identify.

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US -21 and Canada -3 for this weeks rig count

April 27, 2019
| Weekly Rig Count

Baker Hughes, a GE company has posted Weekly Rig Count reports.Baker Hughes Rig Count: U.S. -21 to 991, Canada -3 at 63 Baker Hughes Rig Count: U.S. -21 to 991 rigs U.S. Rig Count is down 21 rigs from last week to 991, with oil rigs down 20 to 805, gas rigs down 1 to 186, and miscellaneous rigs

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Freshly merged EnscoRowan takes their first new build, the Ensco 123

April 26, 2019
| Archives

Keppel Offshore & Marine Ltd’s (Keppel O&M) wholly-owned subsidiary Keppel FELS Ltd (Keppel FELS) has delivered ENSCO 123 to Ensco Rowan plc (EnscoRowan) on schedule and with zero lost-time incidents. Built to an enhanced version of Keppel’s state-of-the-art KFELS Super A Class design, the harsh environment jackup rig has been chartered for operations in the UK North

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Occidental makes an offer for Anadarko

April 24, 2019
| Archives

Occidental Petroleum Corp. has offered to buy Anadarko Petroleum Corp. for $76.00 per share in a 50-50 cash and stock transaction valued at $57 billion. Under the proposal, Anadarko shareholders would receive $38.00 in cash and 0.6094 shares of Occidental common stock for each share of Anadarko common stock. Occidental’s proposal represents a premium of approximately 20% to

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Petronas brings on 4 more jackups

April 24, 2019
| Archives

Velesto Energy (“Velesto†and “Companyâ€), formerly known as UMW Oil & Gas, awarded contracts for the provision of four jack-up drilling rigs by Petronas Carigali. Company said on Monday that, NAGA 2, NAGA 3, NAGA 5, and NAGA 6 are contracted for Petronas Carigali’s drilling campaign, for the duration of one year with an option of additional one

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Bassoe: Jackup Report

April 24, 2019
| Archives

Jackup fixtures continue to roll in, and utilization has reached its highest point since 2015. As major tenders, such as QatarGas (up to 8 rigs), PEMEX, and Petronas are concluded, we expect utilization to rise further during 2019. Dayrates are moving up, but still only modestly due to new build supply. This should resolve itself as more

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5.5 bbo Yellowtail 1 marks ExxonMobil’s 13th find in Guyana

April 21, 2019
| Archives

IRVING, Texas – ExxonMobil said it made a new oil discovery offshore Guyana at the Yellowtail-1 well, marking the 13th discovery on the Stabroek Block. The discovery adds to the previously announced estimated recoverable resource of approximately 5.5 billion oil-equivalent barrels on the Stabroek Block. Yellowtail-1 is the fifth discovery in the Turbot area, which ExxonMobil expects

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Transocean’s backlog breaches 12 billion with new contract announcements

April 18, 2019
| Archives

Transocean Ltd. today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs. Since its last report Transocean added approximately $373 million in contract backlog, bringing total backlog to $12.1 billion. This quarter’s report includes the following new contracts: Development Driller III – Customer exercised a six-month option offshore Equatorial Guinea;Leiv Eriksson – Customer exercised

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