+1(833) 396-4204 info@riglynx.com
Menu

Archives

EIA raises 2020 forecasts for oil and natural-gas prices and U.S. production

September 10, 2020
| Archives

The U.S. Energy Information Administration raised its 2020 forecasts for West Texas Intermediate and Brent crude oil prices and U.S. crude-oil production, according to the Short-Term Energy Outlook report released Wednesday. The EIA pegged its 2020 WTI oil price forecast at $38.99 a barrel, up 1.3% from its August forecast. It also lifted its Brent crude price forecast

Read More...

Pelican Energy Partners pick up SPC flow unit from Baker Hughes

September 10, 2020
| Archives

Houston-based private equity fund Pelican Energy Partners LP said on Thursday it plans to buy Baker Hughes Co’s surface pressure control (SPC) flow business. The sale comes as Baker Hughes and other oilfield services companies have been selling units in the face of lower drilling activity. Schlumberger NV unloaded its underperforming North American shale fracking business last week to

Read More...

Woodside picks up Cairn Energy’s Sangomar Development in Senegal

September 10, 2020
| Archives

Australian oil and gas operator Woodside has announced an agreement to acquire Cairn Energy’s 40% interest in the Sangomar oil project offshore Senegal, pending approval from the Senegalese government. In July, Cairn Energy, a joint venture partner of Woodside in the project, alongside Australian independent FAR Ltd and state-owned Petrosen, announced that it had agreed to sell its

Read More...

Noble Fleet Status Update Highlights – New Contracts in Guyana and Norway

September 9, 2020
| Archives

Noble issued their fleet status update and below are the highlights: Australia Noble Tom Prosser – One well option exercised. Guyana Noble Sam Croft – New six-month contract with Esso from Early January 2021 to Early July 2021. Norway Noble Lloyd Noble – New 3-well contract with Equinor from June 2021 to January 2022. Saudi Arabia Noble Roger Lewis – Dayrate reduced

Read More...

Oilfield Services Pandemic Job Losses Exceed 100,000 but Layoffs Slowing

September 9, 2020
| Archives

America’s oilfield services and equipment lost approximately 2,600 jobs in August, according to preliminary data from the Bureau of Labor Statistics (BLS), the lowest total since the onset of the COVID-19 pandemic in March. The U.S. economy added 1.4 million jobs in August and the unemployment rate fell to 8.4%. The monthly Oilfield Services and Equipment Employment Report

Read More...

API issues statement in response to extension of drilling moratorium

September 9, 2020
| Archives

The American Petroleum Institute (API) issued the following statement in response to yesterday's announcement by the Trump administration to extend the moratorium on the Eastern Gulf of Mexico (EGOM) and expand it to the South Atlantic. “Extending the moratorium in the Eastern Gulf of Mexico and expanding it to the South Atlantic is the wrong approach at the

Read More...

Transocean updates on court proceedings with Whitebox and Pimco

September 8, 2020
| Archives

Transocean Ltd. announced today that Transocean Inc., its wholly-owned subsidiary (together with Transocean Ltd., “Transocean”), has received over $1.5 billion aggregate principal amount of validly tendered Exchange Notes (as defined below) as of September 4, 2020, pursuant to its previously announced offers (the “Exchange Offers”) to exchange certain existing notes (the “Existing Notes”) for up to an aggregate principal amount of $750 million (subject

Read More...

18th discovery in Guyana totals up 8 billion bbls equivalent for Hess, Exxon and others

September 8, 2020
| Archives

Hess Corporation today announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent. Redtail-1 encountered approximately 232 feet (70 meters) of high quality oil bearing sandstone and was

Read More...

Flaring into electricity, Perenco will soon do it in the DRC

September 8, 2020
| Archives

The Ministers’ Council of the Democratic Republic of Congo (DRC) has approved Perenco’s proposition to launch an electricity production project in the country. Perenco is looking to convert gas flared during oil production into power. The company hopes to support the government’s quest to universal access to power as well as generate revenue from currently wasted resources. The

Read More...