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

Archives

Baker Hughes to take $15 bln goodwill impairment charge in first quarter

April 14, 2020
| Archives

Baker Hughes Co said on Monday it would take a $15 billion non-cash goodwill impairment charge in the first quarter. The oilfield services provider also expects to take $1.8 billion in charges, primarily related to restructuring and impairment, of which about $1.5 billion will be recorded in the first quarter of 2020. Source: Reuters Check out our other current stories! Chesapeake

Read More...

Chesapeake investors vote for reverse stock split to boost share prices

April 14, 2020
| Archives

Chesapeake Energy Corp shareholders on Monday voted in favor of a reverse stock split, a move that is expected to boost the debt-laden shale producer’s share price to avoid a delisting that could trigger calls for some immediate debt repayment. Creditors holding more than $1 billion of Chesapeake debt have the right to demand that the company repurchase

Read More...

Noble issues fleet update status

April 10, 2020
| Archives

New Contracts / Extensions / Modifications / Letters of Intent Guyana As previously announced, the Noble Tom Madden, Noble Don Taylor and Noble Bob Douglas were added to the CEA framework agreement with ExxonMobil. Vietnam Noble Clyde Boudreaux – Early June 2020 to Late July 2020. Qatar Noble Mick O’Brien – Late March 2020 to Late August 2020 (extension). In addition, the Company expects

Read More...

Seadrill Receives Notice from NYSE regarding Continued Listing Standard

April 9, 2020
| Archives

Seadrill Limited today announced that on March 26, 2020, the Company has received written notice from the New York Stock Exchange that the Company is not in compliance with the NYSE continued listing standard with respect to the minimum average share price required by the NYSE because the average closing price of its common shares had fallen

Read More...

Canada leads global list of shut-ins

April 9, 2020
| Archives

The Covid-19 pandemic has devastated global oil demand while producing countries fail to agree on output cuts, and as onlookers have predicted, it was a matter of time until shut-ins would start. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated to reach above 1.1 million barrels

Read More...

Offshore Drillers to see contract cancellations of up to $3 bn till 2021

April 9, 2020
| Archives

The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers will see up to 10% of their contract volumes canceled in 2020 and 2021, representing a combined loss

Read More...

Pacific Drilling issues letter to staff

April 8, 2020
| Archives

Recent letter sent to Rig Lynx from our sources dated April 1, Pacific CEO: With this rapid pace of change we must adapt quickly and make critical decisions that support our longer-term financial viability. Pacific Drilling CEO: I want to take this opportunity to communicate with you about the profound impact Coronavirus, or COVID-19, is having on so many around

Read More...