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Permian Drillers Prepare To Go Into Overdrive In 2019

November 13, 2018
| Archives

In recent months, pipeline capacity shortage in the Permian has been the center of shale drillers and oil analysts’ attention as much as the surging production from this fastest-growing U.S. oil region that has helped total American crude oil production to exceed 11 million bpd for the first time ever. Many of the big U.S. companies – including supermajors

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Drillship on mission in conflict zone offshore Cyprus

November 13, 2018
| Archives

ANKARA The Stena Icemax, a drillship leased by ExxonMobil, has arrived in the offshore Block 10 of the Cyprus Island to conduct upstream activities, Athens News Agency, ANA reported on Monday. According to ANA, the ship began preparatory works for drilling as of Nov. 15 despite Turkey’s warnings to avoid Greek Cypriot administration’s unilateral upstream activities around the island. ExxonMobil

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Maersk “Giant†sold to Australian independent

November 13, 2018
| Archives

Maersk Drilling has entered into an agreement to sell the jack-up rig “Maersk Giant†to an Australasian-based independent O&G operator. The transaction is expected to close before end of 2018. Maersk Giant was delivered in 1986, and the rig is currently stacked in Esbjerg, Denmark. The new owners expect to use the rig for their Australasian operations. “The sale

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Less Appetite for Exploration Drilling

November 13, 2018
| Archives

Rystad Energy: Of the 100 000 wells drilled globally in 2013, 4% were exploration or appraisal wells. In 2018, this share is expected to drop to only 2% of the 70 000 wells drilled. This trend can be observed across both the offshore and the onshore markets and across the globe. In the offshore market share of exploration wells has changed from 35 to 24%. We’ve seen the most significant drop in South America as the

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Alberta still pushing for Keystone XL pipeline after U.S. stoppage

November 11, 2018
| Archives

Alberta’s energy minister said the province is working to address concerns that caused a U.S. federal court judge to block the construction of the Keystone XL pipeline project this week. Marg McCuaig-Boyd called the decision frustrating – but not enough to stop efforts to get the $10-billion project pushed through – in a Friday news conference at the

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Bank of Tokyo contracts Frigstad Offshore Pte as representative for newbuild jackup

November 10, 2018
| Archives

Frigstad Offshore Pte Ltd signed an agreement with BOTL Lease Co Ltd – to  act as Owners representative for a newbuld Jack Up –  KFELS Hull number B378 – currently in KFELS Shipyard Singapore. According to the current data from VesselsValue, the Hakuryu-15 rig is now scheduled for delivery in January 2019. The KFELS Super B Class design has a drilling

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US rig count up by 14 this week!

November 10, 2018
| Weekly Rig Count

  Baker Hughes: The US drilling rig count is up 14 units to 1,081 rigs working for the week ended Nov. 9, according to Baker Hughes data. The count is up 174 units from the 907 rigs working this time a year ago. At 1,057 rigs working, 11 more units were drilling on land week-over-week. Offshore units were up

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Croatia announces second licensing round in the Pannonian Basin

November 10, 2018
| Archives

Croatia has announced the launch of the country’s second onshore license round. Seven blocks will be available in the license round, all located in Croatia’s prolific Pannonian basin that has produced over 1.1 billion BOE, of which the majority is oil and condensate. Most of the blocks contain undeveloped oil or gas discoveries. Available for the first time will be blocks Sava-06 (SA-06), Sava-07

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Colorado Voters Reject Drilling Limits in Win for Companies

November 9, 2018
| Archives

(Bloomberg) Anadarko Petroleum Corp., Noble Energy Inc. and other companies exploring for oil and natural gas in Colorado jumped in stock market trading Wednesday after voters rejected a plan that sought to limit their ability to drill in the state. Proposition 112 was voted down with 57% of ballots cast against the measure. It would have forced oil

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Africa Enjoys Oil Boom as Drilling Spreads Across Continent

November 9, 2018
| Archives

(Bloomberg) Africa is finally seeing the benefits from the recovery in crude prices as companies ramp up drilling from Algeria to Namibia. The rigs are returning and wildcatters are getting excited again after a years-long hiatus during the oil-price slump. From majors like Total SA to independents like Tullow Oil Plc, companies are snapping up exploration rights and doing deals. “When you

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