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CNOOC hires Valaris ship for exploratory wells

November 23, 2019
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The CNOOC subsidiary, China Offshore Oil Corporation E&P Mexico, has signed a drilling contract with Valaris for the Valaris Renaissance drilling vessel that recently completed drilling of the first exploratory wells in Mexico for the French Total and the Malaysian Petronas. CNOOC won the CNH-R01-L04-A1.CPP contract in Bid 4 of the 2016 oil round for Contract Area 1

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Seadrill issues 3rd Q results

November 22, 2019
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Seadrill Limited (SDRL) – Third quarter 2019 results Hamilton, Bermuda, November 21, 2019 – Seadrill Limited (“Seadrill†or “the Companyâ€) (NYSE:SDRL, OSE:SDRL), a world leader in offshore drilling, announces its third quarter results for the period ended September 30, 2019. Highlights Lower economic utilization of 93%1 primarily due to the West Linus 5-year classingRevenue up 14% at

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Billionaire Fracking Brothers Hammered by Permian Holdings

November 22, 2019
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Farris and Dan Wilks hit pay dirt during the shale boom when they sold their Texas fracking company in 2011 for $3.5 billion, giving them ample resources to fund their interests in land, politics and religion. But many of their more recent investments in the Permian Basin have turned to dust. The brothers put some of their fortune into

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Seadrill Chairman John Fredriksen steps down

November 22, 2019
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Seadrill Chairman John Fredriksen, the oil rig firm’s top shareholder, is stepping down with immediate effect, the company said on Thursday, as it holds discussions with lenders about restructuring its massive debts. The 75-year-old billionaire investor, who said his support for the company remained unchanged, will be replaced by Glen Ole Roedland, who has worked in shipping, oil,

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$460m of land drilling contracts awarded to KCA Deutag in the Middle East, Africa and Europe

November 18, 2019
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KCA Deutag (“KCADâ€) today announces that its land drilling operation has won new contracts worth approximately $460m in the Middle East, Africa and Europe.  Middle East Following the announcement we made in March that a client had reserved three rigs for an option period, we can now confirm that these have subsequently been contracted for two years, with an

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Bassoe: Floater Report

November 18, 2019
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Floater utilization is making another move upward, with several contracts being awarded lately for 2020 work. Contract duration’s are varied, but day rates are increasing in benign and harsh environments. Primary markets like Brazil, US Gulf, Mexico, and West Africa are experiencing higher activity, but recent awards in less prominent areas like Peru and Oman are promising

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Karoon and Tullow line up the Stena Forth for one well in Peru

November 16, 2019
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Karoon Energy Ltd (“Karoonâ€) is pleased to announce that it has executed binding agreements with Stena Drilling Ltd (“Stenaâ€) and Tullow Oil Limited (“Tullowâ€) to contract the “Stena Forth†Dynamically Positioned Drillship. The “Stena Forth†has been contracted to drill one well, being the Marina-1 exploration well, in Karoon’s 40% owned and operated Block Z-38 in the

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Shelf Drilling issues fleet update status

November 16, 2019
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New Contracts and Extensions High Island II, High Island IV, Main Pass I and Main Pass IV secured four-month extension each with Saudi AramcoHigh Island VII secured a contract extension for three-year firm plus two (2) one-year options with ADNOC DrillingRig 141 secured a contract extension for 165 days firm plus two (2) three-month options with GempetcoTrident II

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ADNOC Announces Major Rig Fleet Expansion Program

November 14, 2019
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ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), announced today a major rig fleet expansion program to support ADNOC’s upstream growth plans and enable the delivery of its 2030 Smart Growth Strategy.  In the first phase of the wider expansion program, ADNOC acquired, in November 2019, four technologically advanced and UAE-built land rigs with

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Maersk Drilling signs on the Developer for a two-well contract in Trinidad

November 14, 2019
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Maersk Drilling has entered a contract with BG International Ltd., a subsidiary of Shell, for work offshore Trinidad and Tobago on a two-well development project for the semi-submersible rig Mærsk Developer. The contract has an estimated duration of 171 days and is expected to commence in Q1 2020. The value of the firm contract is approximately USD 39m,

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