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Oil output hits 11.5 mln bpd, 4th straight month of record highs

December 3, 2018
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NEW YORK, (Reuters) – U.S. crude oil output hit a new all-time high of 11.5 million barrels per day in September, according to the government on Friday, the latest indicator of a wave of onshore U.S. production that has weighed on global markets. U.S. crude production rose 129,000 bpd in September to 11.475 million bpd, the U.S. Energy

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ExxonMobil makes 10th discovery offshore Guyana, estimated 5 billion barrels

December 3, 2018
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IRVING, Texas–(BUSINESS WIRE)–ExxonMobil said today it made its 10th discovery offshore Guyana and increased its estimate of the discovered recoverable resource for the Stabroek Block to more than 5 billion oil-equivalent barrels. The resource estimate, up from the previous estimate of more than 4 billion oil-equivalent barrels, is a result of further evaluation of previous discoveries and includes a new discovery

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Rowan Relentless has first two options exercised by ExxonMobil

December 3, 2018
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HOUSTON, Dec. 3, 2018 /PRNewswire/ — Rowan Companies plc (“Rowan†or the “Companyâ€) (NYSE: RDC) announced today that ExxonMobil has exercised the first two options for the Rowan Relentless, an R-Class ultra-deepwater drillship.  The options will be used for operations in the US Gulf of Mexico and have an expected duration of 30 days each.  The Rowan Relentless

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Jupiter Pipeline Launches Open Season for 650-mile Crude Oil Pipeline Project

December 2, 2018
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HOUSTON–(BUSINESS WIRE)–Jupiter Energy Group (“Jupiterâ€), a privately held midstream company that provides crude oil producers and gas plants with logistics and offtake solutions, today announced the beginning of a 90-day open season for binding shipper commitments on the Jupiter Pipeline, which is expected to be operational in fourth quarter of 2020. “Construction of the Jupiter Pipeline is a key

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Transocean Receives Overwhelming Approval from Shareholders on Ocean Rig Deal

November 30, 2018
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STEINHAUSEN, Switzerland, Nov. 29, 2018 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that its shareholders approved the acquisition of Ocean Rig UDW Inc. (“Ocean Rigâ€), by approving the proposals presented at Transocean’s Extraordinary General Meeting.  “We are extremely pleased that our shareholders have overwhelmingly approved our acquisition of Ocean Rig,†said Jeremy Thigpen, President and CEO.

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Northern Drilling to take early delivery of newbuild rig as Wintershall awards more work

November 30, 2018
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Offshore Energy Today Nov 30 2018 – John Fredriksen’s Northern Drilling has decided to take early delivery of its newbuild semi-submersible rig West Mira as a result of new options exercised under the rig’s contract with Wintershall. To remind, Wintershall last June awarded a firm six-well contract to the West Mira rig for operations at Wintershall’s Nova field. The contract

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Villagers Cut Pipeline on Election Irregularities

November 30, 2018
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Lima (AFP) Nov 29, 2018 – A Peruvian oil executive warned Wednesday of “catastrophe†after indigenous residents cut a major pipeline in a region of the Amazon, triggering the spill of 8,000 barrels of oil. “We could face an environmental catastrophe,†Beatriz Alva, a manager with state oil firm Petroperu, told channel N television. Alva gave the volume of

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Trio of Explorers Aim to Hit East Africa Gas Jackpot Once Again

November 30, 2018
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Bloomberg- A trio of oil executives who hit the jackpot with a gas find off Mozambique have long believed they can repeat that success not far from their original discovery. Now financial backing from seasoned Africa explorer Tullow Oil Plc has given them the firepower to take another shot. Tullow on Thursday said it would take a stake in blocks off the

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Exxon Will Use Wind, Solar to Produce Crude Oil in Texas

November 30, 2018
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Bloomberg- Exxon Mobil Corp. will use renewable energy to produce oil in West Texas. Under 12-year agreements with Denmark’s Orsted A/S, Exxon will buy 500 megawatts of wind and solar power in the Permian Basin, the fastest growing U.S. oil field. It is the largest ever renewable power contract signed by an oil company, according to Bloomberg NEF. Terms

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Shale Patch Expected to Cut Budgets for First Time Since Last Crash

November 30, 2018
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Shale explorers will likely cut spending budgets next year for the first time since the last price crash as crude spirals down again, analysts said. Bloomberg- U.S. benchmark oil prices have dropped by more than a third from an Oct. 3 high, the largest percentage decline since early 2016. On Thursday West Texas Intermediate briefly dropped below $50

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