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Sable Offshore permanently shuts down after nearly 20 years

January 2, 2019
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HALIFAX — A government agency says all production from the Sable Offshore Energy Project off the coast of Nova Scotia has been permanently shut down. The Canada-Nova Scotia Offshore Petroleum Board says production from all of the Sable project’s fields ended on Monday, as planned. The natural gas field, about 300 kilometres southeast of Halifax, started producing in late 1999 and consists of seven offshore platforms

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Medco Energi’s potential takeover deal with Ophir Energy

January 2, 2019
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(Reuters) – Medco Energi Internasional Tbk PT would boost its valuations and gain access to international assets if its potential takeover of London-listed Ophir Energy occurs, analysts said on Wednesday. Medco confirmed this week that it was in talks with Ophir about a possible cash offer for the oil and gas exploration and production company currently based in

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Mexican army takes control of refineries to fight rampant fuel theft

January 1, 2019
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The Mexican army took control of state oil company Pemex refineries where some unionized workers were preventing access to strategic areas. Mexican President Andres Manuel Lopez Obrador said that at his request 4,000 military personnel from the army and navy police took control of 58 Pemex dependencies to help fight fuel theft after unionized workers “were blocking access

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Happy New Year Roundup!

December 31, 2018
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Hi out there from the team here at OutPut, Since this is our first full year bringing you news from the oil and gas industry we would like to share with you some stats before we move into 2019, we are super proud to have been associated with all of you over 2018! Over 2018 OutPut has been read

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Lamprell receives LOI for delivery of 2 newbuild jackups

December 29, 2018
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  Lamprell is pleased to announce that it has received a letter of intent (‘LOI’) from International Maritime Industries Company (‘IMI’), the Saudi maritime joint venture in which Lamprell is a partner, confirming the intent to award Lamprell the contract for the construction and delivery of two jackup drilling units. The rigs will be built collaboratively between the

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Seadrill Signs Up the West Castor for Work in Suriname for Staatsolie

December 28, 2018
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Staatsolie Maatschappij Suriname has signed a contract with Seadrill Limited for the supply of drilling platform services in the nearshore area off the coast of Suriname. Seadrill will mobilize the drilling platform, the West Castor, in the first quarter of 2019 to Suriname for drilling. Staatsolie starts in April 2019 with the drilling of nine exploration wells. The execution of

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Transocean Lands 5-Year $830 Million USD Drilling Contract with Chevron

December 28, 2018
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    Transocean Ltd. (NYSE: RIG) announced today that it has signed a rig design and construction management contract, as well as a five-year drilling contract, with Chevron USA, Inc. (Chevron) for one of its two dynamically positioned ultra-deepwater drillships (the drillship) currently under construction at the Jurong shipyard in Singapore. The drilling contract has an estimated backlog of

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Oil and gas deals market on the rise

December 28, 2018
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The ongoing recovery in oil price and increasing price certainty has resulted in upstream E&P deal activity leading the way. There are many notable examples of this during 2018, including Total closing out its acquisition of Maersk Oil and BP’s exchange of non-core North Sea and Alaskan assets with ConocoPhillips. This trend appears set to continue, with recent

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Exxon continues drilling offshore Guyana as Venezuela lodges complaint

December 27, 2018
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  CARACAS (Reuters) – Exxon Mobil Corp said on Wednesday its oil drilling and development activities offshore Guyana were unaffected by a weekend incident in which Venezuela’s navy stopped two exploration vessels the company had hired. Venezuela’s navy halted seismic data collection by the boats on Saturday. The governments of each of the two South American neighboring countries said

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The Top 10 Posts for 2018

December 27, 2018
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2018 was shaping up to be the best year out of the last few for operators and contractors alike. Although the deepwater sector of the industry still remains severely depressed, rates for these technological marvels are in the doldrums and still see no future of making any advancements based on current market conditions. The Permian basin is still red-hot and forecasts to

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