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Oldest Producing Oil Well in the World | OutPut by Riglynx

August 20, 2018
| Archives

August 16, 1861 – Oldest Producing Well Drilled in Titusville, Pennsylvania, in 1861, the McClintock well is pumped a few times a year to supply oil for souvenir bottles sold at the Drake Well Museum.   What would become the world’s oldest continuously producing oil well was completed in 1861 near Rouseville, Pennsylvania. The McClintock No. 1 well, reaching 620 feet

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Oil and Gas Top 5 for Week 33 | OutPut by Rig Lynx

August 19, 2018
| Weekly Rundown

1 End to Houston’s Oil Bust (509 Views) The Greater Houston Partnership has at last declared the end of the oil bust with almost all of the city’s major energy companies back in the black, ramping up spending and hiring to reflect higher crude oil prices and stronger profit margins… 2 Mega Oil and Gas Projects Making a Comeback (423 Views) Investors are about

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By 2024 offshore drilling contractors still may not surpass pre-downturn averages | OutPut by Rig Lynx

August 18, 2018
| Archives

Rystad Energy announced Friday that it expects the global oilfield service sector to be back at pre-downturn market levels by 2024. The independent energy research and business intelligence company said shale will make up 23 percent of the total service market in 2024, compared to 19 percent in 2014. “Offshore is losing market share due to the sanctioning drought

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Maersk separates drilling division in its next step to exit energy industry | OutPut by Rig Lynx

August 18, 2018
| Archives

A.P. Moller-Maersk has decided to list its drilling unit separately, marking its latest step toward a complete exit from the energy industry. Copenhagen-based Maersk, which owns the world’s biggest shipping operations and is working on turning itself into a pure transport company, said on Friday that the decision will take effect some time next year. Maersk shares opened about

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U.S. rig count holds steady for week 33 | OutPut by Rig Lynx

August 18, 2018
| Weekly Rig Count

U.S. energy companies kept the oil rig count unchanged this week amid a steady decline in crude prices, which hit a near two-month low earlier this week. The rig count, an early indicator of future output, held at 869 in the week to Aug. 17, General Electric Co’s Baker Hughes energy services firm said in its closely followed

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Shelf Drilling lands 6 month contract continuation for the “Resourceful†| OutPut by Rig Lynx

August 17, 2018
| Archives

Shelf Drilling, contractor of 40 jack-ups, on Thursday said that it had obtained a six-month contract for the jackup “Resourceful.†Shelf said the contract was a six-month extension in direct continuation of its current contract for drilling operations offshore Nigeria. The rig is currently on a contract with Chevron in Nigeria. The contract started in in March 2018, with

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“No payments will be made by either party in connection with this settlement†says Petrobras and Ensco | OutPut by Rig Lynx

August 17, 2018
| Archives

“Petrobras and Ensco announce today that they have agreed to a settlement of all claims relating to the ENSCO DS-5 drilling services agreement,†Ensco said. Petrobras in January 2016 cancelled a drilling contract with Ensco for the drillship DS-5 over corruption charges. The drillship had been hired by Petrobras from Pride International, a company that Ensco took over in 2011. In its cancellation notice

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