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Noble’s Tom Madden bags 6.5 years of additional contract work in Guyana

October 8, 2020
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Noble Corporation plc today announced that the ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the Commercial Enabling Agreement ("CEA") with ExxonMobil for work offshore Guyana.  The Noble Tom Madden was previously contracted until mid-February 2024 and the additional term will extend the rig contract to mid-August 2030.  The rig day rate will be updated at

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Nigeria forging ahead with exploration

October 7, 2020
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Nigeria is undertaking noteworthy oil exploration activities in the Benue trough, a major geological structure extending about 1,000 km northeast from the Bight of Benin to Lake Chad. During a one-day virtual workshop for oil and gas media professionals that took place last week, Eng. Alex Tarka, President of the Nigerian Association of Petroleum Explorationists (NAPE), said the activities are being undertaken

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Hess sells Shenzi interest to BHP in GOM, moves cash to Guyana

October 7, 2020
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BHP today announced that it has signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28 per cent working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44 per cent interest); Hess (28 per cent interest) and

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Hurricane Delta shutting down the U.S. Gulf, 6th time this year for some

October 7, 2020
| Archives

Energy companies were securing offshore production platforms and evacuating workers on Tuesday, some for the sixth time this year, as a major hurricane took aim at U.S. oil production in the Gulf of Mexico. Hurricane Delta, the 25th named storm of the 2020 Atlantic Hurricane season, was churning in the Caribbean with sustained winds of 140 miles per

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Odfjell Drilling announces LOI for the Deepsea Aberdeen

October 6, 2020
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Equinor has today awarded a letter of intent to Odfjell Drilling for the drilling and completion of the Breidablikk project with Deepsea Aberdeen. The letter of intent is subject to finalization of contract. The contract is set to commence during spring 2022 with a scope of fifteen (15) firm wells and an estimated duration of 2.5 years.  In

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Premier Oil to merge with Chrysaor

October 6, 2020
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Premier Oil said on Tuesday it has reached an all-share merger deal with oil exploration and production company Chrysaor that will result in a cash payment of $1.23 billion to creditors of the debt-saddled British firm. Premier Oil shareholders are expected to own up to 5.45% of the combined group, the company said, with Chrysaor’s largest shareholder Harbour

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Exxon to cut 1,600 jobs across Europe

October 6, 2020
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U.S. oil giant Exxon Mobil said on Monday it plans to reduce its European workforce by up to 1,600 across the company's affiliates by the end of 2021 as part of its global review. Exxon said country-specific cuts will depend on the oil major’s local business footprint and market conditions, after the COVID-19 pandemic hammered demand for its

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Is Transocean looking at Chapter 11?

October 6, 2020
| Archives

Measures taken by Transocean Ltd. to stave off a bankruptcy filing could be exactly what ends up sending the offshore drilling company into Chapter 11 alongside some of its biggest peers. The world’s largest owner of deep-water oil rigs recently engineered a bond swap to trim some of its $9 billion debt load and ease the crunch

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