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COSL announces contract plans for the Innovator

August 19, 2020
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Earlier this summer, COSL Drilling Europe announced the signing of a letter of intent for the 6th generation, semi-submersible drilling rig the Innovator. It can now be confirmed that the rig will be used on license PL 973, where Chrysaor is the operator and owner together with its partners Okea and Petoro. The operation will take place

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Valaris announces agreement for significant debt restructure, Lazard ltd to serve as investment banker

August 19, 2020
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Valaris plc today announced that it has entered into a binding Restructuring Support Agreement (the “RSA”) and Backstop Commitment Agreement (the “BCA”) with approximately 50% of its noteholders (“Consenting Noteholders”). Valaris will undergo a financial restructuring that is intended to reduce its debt load substantially, support continued operations during the current lower demand environment and provide a

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Turkey Confronts EU With New Energy Survey Off Cyprus Coast

August 18, 2020
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Turkey dispatched a drilling ship to an area off the southwestern coast of Cyprus on Tuesday, in a move that could fuel territorial disputes with EU member states in the eastern Mediterranean. Ankara resumed its search of the contested waters last week after German-mediated negotiations with Greece collapsed when Athens announced a maritime delimitation agreement with Egypt on

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JDC lands 1 year extension for jackup pair

August 18, 2020
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Jack-up drilling rigs "HAKURYU-10" and "HAKURYU-12", both operated by JDC's subsidiary company "Japan Drilling (Netherlands) B.V." at Al-Shaheen Oil Field, offshore Qatar, have been awarded a one-year contract extension as the second option by North Oil Company ("NOC") under the 2 years firm + 2 x 1 year options contract respectively. Photo: Hakuryu-11 JDC Source: JDC

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Equinor exercises more work for Deepsea Atlantic

August 18, 2020
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Equinor has today exercised three new wells for Deepsea Atlantic. The wells have been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q4 2020. The commercial

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Diamond puts the Onyx to work for Beach, 6 firm wells

August 17, 2020
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Highlights New drilling Ocean Onyx rig contract signed with Diamond Drilling program expected to commence December 2020 – March 2021 Contract provides for up to 9 wells (6 firm and 3 options) First well in drilling sequence expected to be Artisan 1 Settlement Agreement signed to dismiss all current legal proceedings with Diamond Beach Energy Limited is pleased to announce the company

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Approval of the acquisition of Sete rigs

August 17, 2020
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The Administrative Council for Economic Defense (Cade) approved, without restrictions, the acquisition, by MIC Capital Partners (a company of the Mubadala group) and Magni Partners, of companies with a specific purpose whose purpose is to own and manage the Arpoador, Guarapari rigs, Urca e Frade, from Sete Brasil. The transaction marks an important stage in the Brazilian group's

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Chevron pursues exploration deal in Iraq

August 17, 2020
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U.S. oil major Chevron Corp tentatively plans to sign a memorandum of understanding with Iraq to develop one of the country’s large oil fields, the Wall Street Journal (WSJ) reported on Monday, citing people familiar with the matter. Chevron and the Iraqi government are discussing the potential execution of exploration work in Iraq's southern Nassiriya oilfield, which is

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