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Amazon quietly releases synthetic motor oil in July… | OutPut by Rig Lynx

September 17, 2018
| Archives

Amazon is now in the oil business. With the release of its Amazon Basics Synthetic Motor Oil, Amazon has effectively entered into an industry ripe for disruption.     Amazon is now in the oil business! Click To Tweet   A report from Market Watch announced that shares of Valvoline Inc., sank 4.2% in premarket trading on Friday, September 14, after J.P. Morgan turned bearish on the

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Top 5 for week 37

September 17, 2018
| Weekly Rundown

OutPut’s Top 5 for week 37! Click To Tweet This past week the WTI chart looked like a mountain range, closing the week at 68.99 from a start of 67.61 on closing of Sep. 10th. It went as high as 70.88 on the 12th at 10 am CST. We have shared many articles about heightened market drivers but there

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Total exercises 25% option in Eco Atlantic’s Orinduik block offshore Guyana for $12.5 million | OutPut by Rig Lynx

September 14, 2018
| Archives

French oil major Total has exercised its option to acquire a 25 percent working interest in the Orinduik block offshore Guyana after a competent persons report identified potential for almost three billion barrels of oil equivalent. Eco Atlantic, a partner in the Tullow-operated Orinduik block, said on Thursday that Total E&P Activités Pétrolières, a wholly-owned subsidiary of Total,

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DynaView acquired by Tally Energy Services | OutPut by Rig Lynx

September 14, 2018
| Archives

Tally Energy Services announced today the acquisition of DynaView. The acquisition expands and compliments Tally’s drilling services business with 3D modeling, visualization and predictive technologies to enable drilling better wells, faster. “Currently, well planning and execution is performed in multiple discrete software systems, many of which are in 2D.  DynaView’s 3D data integration, visualization and predictive platform will be a

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Huisman contracted to build semisubmersible for CMHI to be delivered Q2 2020 | OutPut by Rig Lynx

September 14, 2018
| Archives

This week, China Merchants Heavy Industries (CMHI) awarded Huisman a contract for the engineering and fabrication of a drilling system which will be integrated and installed on the moored drilling semi-submersible constructed at CMHI Haimen. This drilling system will be used for oil and gas drilling activities in shallow to medium water depths all around Asia, particularly the South China Sea. The

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Borr’s Founder says “If you are going to hang until the end, you’ll lose all the money.†| OutPut by Rig Lynx

September 14, 2018
| Archives

Drilling rig contractor Borr Drilling aims to start paying dividends by 2020, the company’s founder and chairman, Tor Olav Troeim, said on Wednesday. Troeim, a former business partner of Norwegian billionaire John Fredriksen, founded Borr Drilling at the end of 2016 and the company has quickly grown into one of the largest owners of jack-up rigs which drill

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Ecuador and Madagascar to hold licensing rounds | OutPut by Rig Lynx

September 14, 2018
| Archives

Tweet It!     Ecuador and Madagascar to hold licensing rounds Click To Tweet   Ecuador Carlos Pérez Garcia, Minister of Energy and Non-renewable Resources in Ecuador has announced an open licensing round for eight blocks onshore Ecuador, in Sucumbíos Province. These comprise: Araza Este, Changue, Iguana, Perico, Espejo, Pañayacu Norte, Charapa and Sahino. The blocks offered are all onshore, conventional opportunities, most with

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DNV GL says natural gas usage will dethrone oil usage in the United Sates by the end of this year | OutPut by Rig Lynx

September 12, 2018
| Archives

Natural gas, helped by gains in energy efficiency, will dethrone oil as the biggest energy source that the United States uses by the end of this year. That’s according to the chief executive of Norway-based risk management consultancy DNV GL, and it would hardly come as a surprise to anyone who’s been following energy developments in the

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