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Oil majors Equinor, Shell and BP start to exit Russia

February 28, 2022

Oil majors such as Equinor, Shell and BP start to exit Russia removing interests over the attacks against Ukraine Equinor’s Exit Equinor has decided to stop new investments into Russia, and to start the process of exiting Equinor’s Russian Joint Ventures. 'We are all deeply troubled by the invasion of Ukraine, which represents a terrible setback for the world, and we

North America Rig Count: U.S. adds 5 and Canada adds 4

February 28, 2022

| Weekly Rig Count

Baker Hughes Rig Count: U.S. +5 to 650 rigs U.S. Rig Count is up 5 from last week to 650 with oil rigs up 2 to 522, gas up 3 to 127, and miscellaneous rigs unchanged at 1. U.S. Rig Count is up 248 rigs from last year's count of 402 with oil rigs up 213 gas rigs up

Seth Berry – U.S. natural gas production forecasts show growth through 2023

February 24, 2022

| Archives

The Energy Information Agency’s (EIA) recent Short-Term Energy Outlook shows a positive future for U.S. natural gas production over the next two years. The government agency forecasts production reaching record highs of 106.6 Bcf/d by 2023 supporting an average price of $3.60/MMBtu with the lion’s share of growth tied to new wells in the Permian, Appalachian, and

Flying A Services, training the world’s professionals

February 24, 2022

| Business Spotlight

With the recovery of the oil and gas industry in full swing it is time to catch up on some training. We would like to introduce Flying A Services managed by industry professionals and courses are available for booking right now. TRAINING Flying A Services LLC currently offer the following face to face courses: - Introduction to Well Ops – 5

TotalEnergies announce significant find offshore Namibia

February 24, 2022

| Archives

TotalEnergies has made a significant discovery of light oil with associated gas on the Venus prospect, located in block 2913B in the Orange Basin, offshore southern Namibia. The Venus 1-X well encountered approx. 84 meters of net oil pay in a good quality Lower Cretaceous reservoir. 'This discovery offshore Namibia and the very promising initial results prove the potential of this play in the Orange

Velesto awarded work with ExxonMobil

February 24, 2022

| Archives

Velesto Energy announced that it has received a Letter of Award from ExxonMobil Exploration and Production Malaysia Inc. for provision of one (1) hydraulic workover unit and services for EMEPMI (“Contract”). The duration of the Contract is one (1) year commencing from Q3-2022 until completion of EMEPMI’s selected wells program. The value of this enabling contract with

Odfjell publishes Q4 report, backlog sits at USD $2.3 billion

February 24, 2022

| Archives

Odfjell Drilling published their Q4 report and below are the highlights Operating revenue of USD 222 million compared to USD 355 million in Q4 2020. EBITDA of USD 85 million compared to USD 171 million in Q4 2020. EBITDA margin of 38% compared to an EBITDA margin of 48% in Q4 2020. The Group’s contract backlog is USD

Transocean lines another rig up for Petrobras

February 23, 2022

| Archives

Transocean to sign a new charter contract with Petrobras. The company took the lead in the oil company’s new request for quotation aimed at the international bid to carry out a drilling campaign in the Tayrona area, located offshore Colombia. According to PetróleoHoje, the two companies have already settled most of the commercial terms. The conclusion of the

Seadrill emerges from bankruptcy after more than a year of restructuring

February 23, 2022

| Archives

Seadrill 2021 Limited has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the 'Plan'). The Plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on October 26, 2021. The restructuring significantly delevered the Company’s balance sheet by equitizing approx. $4.9 billion of secured bank debt previously held across twelve silos,

Transocean Q4 results, backlog sits at USD $6.5 billion

February 23, 2022

| Archives

Transocean reported on their Q4 results and full year of 2021, below are the highlights Total contract drilling revenues were $621 million, compared to $626 million in the third quarter of 2021 (total adjusted contract drilling revenues of $671 million, compared to $683 million in the third quarter of 2021); Revenue efficiency(1) was 94.5%, compared to 98.1% in the prior quarter; Operating and maintenance expense was $430 million,

Author: Admin

Oil majors Equinor, Shell and BP start to exit Russia

North America Rig Count: U.S. adds 5 and Canada adds 4

Seth Berry – U.S. natural gas production forecasts show growth through 2023

Flying A Services, training the world’s professionals

TotalEnergies announce significant find offshore Namibia

Velesto awarded work with ExxonMobil

Odfjell publishes Q4 report, backlog sits at USD $2.3 billion

Transocean lines another rig up for Petrobras

Seadrill emerges from bankruptcy after more than a year of restructuring

Transocean Q4 results, backlog sits at USD $6.5 billion

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