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Valaris JV ARO orders two newbuild jackups, both with eight year contracts

January 21, 2020
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Valaris plc announced today that ARO Drilling, its 50/50 joint venture with Saudi Aramco, has ordered two newbuild jackup rigs from International Maritime Industries. Upon delivery, each rig is expected to commence an eight-year contract with Saudi Aramco and operate at a day rate determined by a six-year EBITDA payback. Following its initial eight-year contract, and subject to

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ADES gets 1 year extension for the Admarine 261

January 20, 2020
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Dubai-based ADES International Holding PLC on Monday said it has extended the contract for Admarine 261 jack-up rig in Saudi Arabia. The oil & gas drilling services provider said the contract was extended for one-year tenor, which will be effective upon the expiry of the current contract in February 2020, with the same daily rates. ADES neither disclosed any

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Maersk Drilling awarded two-well contract extension for the Integrator

January 20, 2020
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Maersk Drilling has secured a two-well contract extension from Aker BP for the ultra-harsh environment, low-emission jack-up rig Maersk Integrator. In direct continuation of the rig’s current workscope, Maersk Integrator will move to the Ivar Aasen field offshore Norway to drill two wells, with work expected to commence in October 2020. The extension has an estimated duration

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Big three oilfield services firms start year with asset sales -sources

January 18, 2020
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Schlumberger, Halliburton Co and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand. Oilfield service providers are facing reduced spending by oil and gas producers as investors push for higher shareholder returns rather than

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Shelf Drilling inks the Enterprise for 21 month gig with Chevron Thailand

January 18, 2020
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Shelf Drilling, Ltd. announced that it has secured a contract for its recently acquired high-specification jack-up rig, Shelf Drilling Enterprise, with Chevron Thailand Exploration and Production, Ltd. (“Chevronâ€) for operations in the Gulf of Thailand. The contract is expected to commence in August 2020 and run through April 2022 with an option to extend. The contract value

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Bassoe: Floater Report

January 18, 2020
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UDW dayrates took another step up since last month. Several new contracts, all with one year or less duration, were awarded at rates well over $200k, and we see the average moving toward $230k for the first half of the year.For harsh environment semisubs in Norway, the $360,000 dayrate for the West Phoenix’s long-term contract with Vår

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Pacific Drilling ordered to dish out $320ml to SHI

January 16, 2020
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Pacific Drilling announced today that an award has been issued in the previously disclosed arbitration proceedings between the Company’s subsidiaries, Pacific Drilling VIII Limited (“PDVIIIâ€) and Pacific Drilling Services, Inc. (“PDSIâ€), and Samsung Heavy Industries Co. Ltd. (“SHIâ€) related to the contract for the construction and sale of the Pacific Zonda. An arbitration tribunal in London, England (the

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Keppel delivers first rig of 2020

January 15, 2020
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Keppel Offshore & Marine Ltd (Keppel O&M) has, through its wholly-owned subsidiary Keppel FELS Ltd (Keppel FELS), made its first rig delivery in 2020 safely, on time and within budget. Named Heimdal, the jackup rig is built to Keppel’s proprietary KFELS B Class design and is the fifth of eleven jackup rigs that Borr Drilling has ordered

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Senegal announces launch of 2020 licensing round

January 15, 2020
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The Ministere du Petrole et des Energies, Senegal, together with the Societe des petroles du Senegal (PETROSEN) and supported by GeoPartners, is to launch the 2020 Senegal Licensing Round with an opening event on January 28th 2020, at the King Fahd Hotel, Dakar.   The Licensing Round, announced at Africa Oil Week in Cape Town in November 2019, comprises twelve (12) blocks on offer in

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