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Oil trades at highest level since November

February 19, 2019
| Archives

(Bloomberg) — Oil traded near the highest level since November on optimism the U.S. and China can reach a trade deal and as an outage at the world’s largest offshore field in Saudi Arabia signaled tightening supply. Futures in New York rose as much as 1 percent after advancing 5.4 percent last week. President Donald Trump said talks

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Two 7 year contracts awarded to ADES

February 19, 2019
| Archives

ADES International Holding PLC, an oil & gas drilling and production services provider in the Middle East and North Africa, is pleased to announce that it has secured two onshore drilling contracts in the Kingdom of Saudi Arabia, following a competitive tender process. Each of the secured contracts has a tenure of seven years (five years fixed and

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Weekly Rundown- Top Posts for the Week

February 17, 2019
| Weekly Rundown

The #1 spot goes to the tragedy on the Ocean Ranger, it is a strong reminder for all of our readers onshore or offshore to think about the way things look or the way things are designed, question the unquestionable, it may save your life. From all of us here at Rig Lynx may the crew of

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Ensco and Rowan both receive clearance for merger from CMA

February 16, 2019
| Archives

Ensco plc and Rowan both announced today that they have received clearance from the United Kingdom’s Competition and Markets Authority for their pending combination. Completion of the transaction remains subject to satisfaction or waiver of certain other conditions, including approval by the shareholders of both Ensco and Rowan along with other regulatory and court approvals. Just to remind

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BSEE issues the investigation report for the Dec 2017 fatality on the Petrobras 10k drillship

February 15, 2019
| Archives

On December 2, 2017, an incident resulting in a single fatality occurred during pipe handling operations onboard the Petrobras 10000 Drillship (PBS 10k). Petrobras Internacional Braspetro B.V. (PIB-BV) was the majority owner of the PBS 10k. Petrobras Americas International (PAI), a subsidiary of PIB-BV, contracted Transocean Offshore Deepwater Drilling, Inc. (TODDI) to manage the PBS 10k during

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Velesto brings $38 million in backlog with Hess

February 15, 2019
| Archives

Velesto Energy Bhd (formerly known as UMW Oil & Gas Corp Bhd) has gotten a US$38 million contract extension to provide high pressure high temperature (HPHT) jack-up drilling rig and services for North Malay Basin, Malaysia. In a filing with Bursa Malaysia, Velesto said its wholly-owned subsidiary Velesto Drilling Sdn Bhd has received the extension from Hess Exploration

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Noble grabs up another jackup from PaxOcean and a 3 year contract to go with it

February 14, 2019
| Archives

Noble Corporation plc today announced that it has exercised an option for the purchase of a second newbuild Gusto MSC CJ46 design jackup rig from the PaxOcean Group (PaxOcean) for $83.75 million. Noble will pay $30.1 million of the $83.75 million purchase price in cash, with the remainder of the purchase price, or $53.6 million, to be seller-financed at a 4.25% interest rate paid in cash and

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Rystad: New Shale Trends

February 14, 2019
| Archives

February 14, 2019 With US shale activity in 2019 beset by uncertainty, Rystad Energy identifies three trends for US light tight oil production that will have a profound impact on the evolution of the industry in 2019 and 2020: New Mexico emerging as a rising starA faster expansion among private operators and majors compared to public E&P playersA steepening

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BOEM puts up 78 million acre region-wide lease in March

February 14, 2019
| Archives

The Bureau of Ocean Energy Management will offer 78 million acres in a region-wide lease sale in March. Lease Sale 252 will include all available unleased areas in federal waters of the Gulf of Mexico. The sale will include about 14,696 unleased blocks, located from 3 to 231 mi (5 to 372 km) offshore, in the Gulf’s Western, Central

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