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Bankrupt to potential IPO in less than a year | OutPut by Rig Lynx

September 24, 2018
| Archives

    Bankrupt to potential IPO in less than a year Click To Tweet   Fieldwood Energy, an offshore oil and gas explorer that emerged from bankruptcy in April, is weighing an initial public offering, according to people familiar with the matter. The Houston, Texas-based company is exploring filing a public offering in early 2019 that could value the company at more than $5 billion,

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Top 5 for Week 38 | OutPut by Rig Lynx

September 22, 2018
| Weekly Rundown

OutPut’s Top 5 for week 38! Click To Tweet Mix of good stories this week, seems the theme is deal making with Transocean, Noble and QGEP signing on the dotted lines in a few places. The jackup that was purchased by Noble wasn’t a huge surprise but as they have some older assets they will be looking to phase

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Noble Adds a Newbuild Jackup to the Fleet and Already has a Contract with an Undisclosed Client

September 21, 2018
| Archives

Noble Adds a Newbuild Jackup to the Fleet and Already Landed a Contract with Undisclosed Client Click To Tweet The newbuild jack-up, to be named the Noble Johnny Whitstine, was built at the PaxOcean Graha shipyard in Batam, Indonesia. The rig design for moderate environments allows for operations in water depths of up to 375 feet and well depths of 30,000

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Shell Looking to Shed $1.3 Billion Stake in Caesar Tonga

September 21, 2018
| Archives

Shell Looking to Shed $1.3 Billion Stake in Caesar Tonga Click To Tweet Royal Dutch Shell Plc, shedding assets to pay for its takeover of BG Group Plc, is in talks to sell its interest in a Gulf of Mexico oilfield to Focus Oil, according to people familiar with the matter. The deal could value Shell’s stake in the Caesar

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Equinor wraps up 2nd contract signing this week with the Transocen Norge (Ex- West Rigel)

September 21, 2018
| Archives

Equinor wraps up 2nd contract signing this week with the Transocen Norge (Ex- West Rigel) Click To Tweet Offshore driller Transocean has scored a six-well contract with Equinor for the newbuild, harsh environment semisubmersible Transocean Norge. Under the contract, the rig will spend around 300 days drill in the Norwegian Continental Shelf. The contract is expected to start in July 2019, following the shipyard

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Shale Drillers in Canada Feeling the Permian Pain

September 21, 2018
| Archives

Shale Drillers in Canada Feeling the Permian Pain Click To Tweet The Permian Basin isn’t the only oil field facing pressure from pipeline bottlenecks. While global oil prices have climbed almost 20 percent this year, producers in Alberta and British Columbia’s shale formations are seeing just the opposite, stymied by a lack of sufficient infrastructure to bring their light oil

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Chevron Looking for a Jack-Up for Niger Delta for a 2 Year + 1 Year Option

September 21, 2018
| Archives

Chevron Looking for a Jack-Up for Niger Delta for a 2 Year + 1 Year Option Click To Tweet Chevron is in the market for a jack-up rig to carry out drilling duties in Niger Delta acreage that it operates in a joint venture with state-owned Nigerian National Petroleum Corporation. The US supermajor wants the rig for its drilling campaign starting

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U.S Rig Count Down By 2 This Week to 1,053

September 21, 2018
| Weekly Rig Count

U.S Rig Count Down By 2 This Week to 1,053 Click To Tweet The US drilling rig count is down 2 units to 1,053 rigs working for the week ended Sept. 21, according to Baker Hughes data. The count is up 118 units from the 935 rigs working this time a year ago. The 2 rigs dropped were from those

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Rise in Offshore Spending Puts it Ahead of Shale Play

September 20, 2018
| Archives

Rise in Offshore Spending Puts it Ahead of Shale Play Click To Tweet A recent surge in final investment decisions (FIDs) on offshore oil and gas projects has set the scene for a healthy increase in offshore investments next year, thus preventing the shale industry from overtaking offshore for the first time, according to Rystad Energy’s latest analysis. This

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Companies cutting rigs due to “takeaway capacity†in the Permian

September 20, 2018
| Archives

Companies cutting rigs due to “takeaway capacity†in the Permian Click To Tweet The Energy Department says a lack of pipelines is beginning to drive oil companies out of the big shale region known as the Permian Basin, as they focus investment in regions where the oil is easier to get to market. The Energy Information Administration released its latest

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