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Eni announces a new oil discovery in Block 15/06, offshore Angola

December 10, 2018
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  San Donato Milanese (Milan), 10 December 2018 – Eni struck a new oil discovery in the Afoxé exploration prospect located in Block 15/06, offshore Angola. The discovery is estimated to contain between 170 and 200 million barrels of light oil in place. The Afoxé-1 NFW well, which has led to the new oil discovery, is located in the south-east

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Drillers Lay Down U.S. Rigs With Oil Volatility Crushing Plans

December 10, 2018
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  Bloomberg- Oil explorers dialed back on drilling at the fastest pace in 2 1/2 years in U.S. fields as volatile crude prices crippled efforts to plan for growth. Working oil rigs fell by 10 this week to 877, according to data released Friday by oilfield-services provider Baker Hughes. The last time the rig fleet shrank by a larger

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Brazil denies Total license to drill near Amazon mouth

December 9, 2018
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Brazil’s environmental regulator on Friday denied French oil giant Total a license to drill for crude in five blocks near the mouth of the Amazon river. Regulatory agency Ibama said the license was denied “due to a set of technical problems†identified during the application process. It explained that the decision was based “on the deep uncertainties†detected in

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National Oilwell Varco Announces Frame Agreement with Equinor to Outfit Offshore Drilling Rig Fleet with Wired Drillpipe

December 9, 2018
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HOUSTON–(BUSINESS WIRE)–National Oilwell Varco, Inc. (NYSE: NOV) announced the signing of a frame agreement with Equinor ASA for the provision of IntelliServTM Wired Drillpipe to outfit their global fleet of offshore drilling rigs. This agreement is based on the success of recent field deployments of version two of Wired Drillpipe that have demonstrated the value of high-speed telemetry

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OPEC Cut Throws Wrench Into Record Oil Short-Selling Streak

December 8, 2018
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Bloomberg: OPEC’s surprise output reduction has wrong-footed short-sellers. Hedge funds cut bets on rising Brent crude prices to the lowest in more than three years in the week through Tuesday as short positions increased for a 10th straight time, the longest streak on record. Then on Friday, OPEC and its allies surprised the oil market with a bigger-than-expected

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New USGS study for Delaware Basin holds 46.3 billion barrels of oil, largest continuous resource ever found

December 7, 2018
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Yesterday the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an

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Speedcast installs wi-fi solution on a dozen Seadrill rigs

December 7, 2018
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The world’s most trusted provider of remote communication and IT solutions, announced that the company is adding its recently-launched Crew Wi-Fi solution onboard over a dozen offshore drilling rigs operated by Seadrill. Seadrill is a world leader in offshore drilling with one of the youngest, most modern fleets employing highly trained and proficient people. They operate in shallow

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Seapulse to unlock 4 billion boe with the help of Maersk Drilling over the next two years

December 6, 2018
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HAMILTON, Bermuda–(BUSINESS WIRE)–Seapulse Limited (“Seapulseâ€), the recently launched global oil and gas exploration vehicle, is pleased to announce a strategic partnership with Maersk Drilling A/S (“Maersk Drillingâ€). The alliance plans to drill 12 offshore oil & gas exploration wells over the next two years targeting over four billion barrels of oil equivalent (boe). Seapulse is executing on an

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A busy 2018 for Transocean as they announce closing of Ocean Rig acquisition and multiple contracts

December 6, 2018
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  As previously reported  both contractors entered into a definitive merger agreement under a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig’s net debt. Transocean announced on Dec. 5, 2018 that it has completed the acquisition of Ocean Rig UDW Inc. The acquisition adds nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles, and two high-specification ultra-deepwater drillships

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Pacific Drilling on 3rd quarter loss but strong statements from CEO

December 6, 2018
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Pacific Drilling CEO Bernie Wolford commented, “The Pacific Drilling team delivered another quarter of excellent operational performance with third-quarter revenue efficiency of 99.8% and we continued to exercise strong cost control. We achieved these outstanding results while providing drilling services in challenging conditions. Pacific Bora recently commenced drilling operations in Nigeria for Nigerian Agip Exploration Limited. This contract reflects

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