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Ensco launches Continuous Tripping Technology

December 19, 2018
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LONDON–(BUSINESS WIRE)– Ensco plc (NYSE: ESV) today announced its Continuous Tripping Technology™, a new proprietary solution that provides more efficient and safer pipe tripping and helps to lower customers’ offshore project costs. The patented Continuous Tripping Technology, in concert with other key equipment, sensors and process controls, fully automates the movement of the drill string into or out of

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The Carlyle Group Buys EnerMech

December 19, 2018
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EnerMech has confirmed the conclusion of its sale to The Carlyle Group and announced the formation of the group’s Board of Directors. John Kennedy has been appointed as the group’s chairman, with Joost Dröge and Bob Maguire, both managing directors and partners at Carlyle International Energy Partners (CIEP), and Philippe Boisseau joining the Board as non-executive directors. The appointments

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Saudi Makes $80 per bbl Avg Call for Oil Price in 2019

December 19, 2018
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Saudi Arabia’s government expects to earn more from oil next year, an optimism that defies most price forecasts for crude and contrasts with the kingdom’s history of making conservative financial assumptions. The world’s biggest crude exporter is estimating that oil will average about $80 a barrel in 2019 assuming its production continues at 10.2 million barrels a day

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CGX Energy picks up Rowan’s Ralph Coffman for work in Guyana

December 18, 2018
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CGX Energy Announces Definitive Rig Agreement for use of the Ralph Coffman Rig for the Utakwaaka-1 Well. Toronto, Canada, Monday December 17, 2018 – CGX Energy Inc. (TSX-V – OYL) (“CGXEnergy†or the “Companyâ€), through its wholly owned subsidiary CGX Resources Inc. has entered into a definitive rig agreement with ROWAN RIGS S.À R.L for the provision of

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Exxon Becomes Top Permian Driller

December 18, 2018
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Exxon Mobil Corp. has overtaken rivals to become the most active driller in the Permian Basin, showing the urgency with which the world’s biggest oil company by market value is pursuing U.S. shale. Even after a slow start in the region of West Texas and New Mexico, Exxon is now operating more drilling rigs than Concho Resources Inc., which merged

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Oil Closes Below $50 for First Time in a Year

December 18, 2018
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  NEW YORK (Bloomberg) — OPEC has its work cut out to persuade the market that its output caps will stabilize oil prices — and U.S. producers aren’t helping. Crude settled below $50/bbl in New York on Monday for the first time in more than a year and continued falling in after-hours trading. The slide began after data provider

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Update 2: ONGC Contracted Olinda Star Looks to be Capsizing

December 17, 2018
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  The 1983 TH-2800 design semi-submersible Olinda Star seemed to be capsizing from the below photo received on December the 17th. Photo received December 17th shows some rough water and the rig listing in the distance.  The rig had previously been evacuated due to being in cyclone Phethai approaching path. New photos received December 19th do show in fact that the

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Parker Drilling Files for Chapter 11 Bankruptcy

December 15, 2018
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HOUSTON — Parker Drilling Company (NYSE: PKD) today announced that it and its material U.S. subsidiaries (collectively, “Parker†or the “Companyâ€) have entered into a restructuring support agreement (“RSAâ€) with holders (the “Consenting Stakeholdersâ€) of the Company’s securities, including a significant amount of its 7.50% Senior Notes due 2020 and 6.75% Senior Notes due 2022 (collectively, the “Notesâ€), outstanding

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Two Blocks in Novia Scotia’s Sable Subbasin are Open for Bids

December 15, 2018
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(Halifax, Nova Scotia) – The Canada-Nova Scotia Offshore Petroleum Board (CNSOPB) has issued Call for Bids NS18-3, which includes two industry-nominated parcels. Bids must be received by May 8, 2019 before 4:00 p.m. Atlantic Time. Successful bidder(s) may be awarded Exploration Licences (ELs), subject to the federal and provincial Ministerial review and approval process set out in legislation. The

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Pacific Drilling Announces Relisting on NYSE

December 14, 2018
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LUXEMBOURG–(BUSINESS WIRE)– Pacific Drilling S.A. (OTC: PACDD) (the “Companyâ€) today announced that it has received approval to relist its common shares on the New York Stock Exchange (“NYSEâ€) under the ticker symbol “PACD.†The Company expects that its common shares will commence trading on the NYSE at the market open on December 18, 2018. Press Release Here Photo is

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