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Arctic Wildlife Refuge Drilling Plans Outlined

December 21, 2018
| Archives

Bloomberg- The Trump administration outlined plans for selling drilling rights on every acre of the Arctic National Wildlife Refuge’s coastal plain, despite acknowledging potential oil spills and impacts to polar bear and caribou that roam through the region. The Interior Department’s draft environmental impact statement, published online Thursday, is a major milestone in the administration’s push to sell drilling rights

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Two significant discoveries for ENI in December

December 20, 2018
| Archives

Merakes East Eni successfully drilled and tested the Merakes East prospect in East Sepinggan block, Offshore Kalimantan, Indonesia. The prospect is located 33 km south east from the Eni-operated Jangkrik field and just 3 km east of the Merakes Field. The well has been drilled to a depth of 3,400 m MD in 1,592 m of water depth and

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Ensco launches Continuous Tripping Technology

December 19, 2018
| Archives

LONDON–(BUSINESS WIRE)– Ensco plc (NYSE: ESV) today announced its Continuous Tripping Technology™, a new proprietary solution that provides more efficient and safer pipe tripping and helps to lower customers’ offshore project costs. The patented Continuous Tripping Technology, in concert with other key equipment, sensors and process controls, fully automates the movement of the drill string into or out of

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The Carlyle Group Buys EnerMech

December 19, 2018
| Archives

EnerMech has confirmed the conclusion of its sale to The Carlyle Group and announced the formation of the group’s Board of Directors. John Kennedy has been appointed as the group’s chairman, with Joost Dröge and Bob Maguire, both managing directors and partners at Carlyle International Energy Partners (CIEP), and Philippe Boisseau joining the Board as non-executive directors. The appointments

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Saudi Makes $80 per bbl Avg Call for Oil Price in 2019

December 19, 2018
| Archives

Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. The world’s biggest crude exporter is estimating that oil will average about $80 a barrel in 2019 assuming its production continues at 10.2 million barrels a day

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CGX Energy picks up Rowan’s Ralph Coffman for work in Guyana

December 18, 2018
| Archives

CGX Energy Announces Definitive Rig Agreement for use of the Ralph Coffman Rig for the Utakwaaka-1 Well. Toronto, Canada, Monday December 17, 2018 – CGX Energy Inc. (TSX-V – OYL) (“CGXEnergy†or the “Companyâ€), through its wholly owned subsidiary CGX Resources Inc. has entered into a definitive rig agreement with ROWAN RIGS S.À R.L for the provision of

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Exxon Becomes Top Permian Driller

December 18, 2018
| Archives

Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. shale. Even after a slow start in the region of West Texas and New Mexico, Exxon is now operating more drilling rigs than Concho Resources Inc., which merged

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Oil Closes Below $50 for First Time in a Year

December 18, 2018
| Archives

  NEW YORK (Bloomberg) — OPEC has its work cut out to persuade the market that its output caps will stabilize oil prices — and U.S. producers aren’t helping. Crude settled below $50/bbl in New York on Monday for the first time in more than a year and continued falling in after-hours trading. The slide began after data provider

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Update 2: ONGC Contracted Olinda Star Looks to be Capsizing

December 17, 2018
| Archives

  The 1983 TH-2800 design semi-submersible Olinda Star seemed to be capsizing from the below photo received on December the 17th. Photo received December 17th shows some rough water and the rig listing in the distance.  The rig had previously been evacuated due to being in cyclone Phethai approaching path. New photos received December 19th do show in fact that the

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OutPut’s Weekly Top 5

December 15, 2018
| Weekly Rundown

This week we see the undetermined future of the Permian and West Texas/ New Mexico come up in the one spot today. Obviously they need more take away capacity, its been in almost every weekly Top % since we started the series,this will raise its head in late 2019. Following that we have Norway’s regulatory pushing enhanced

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