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TechnipFMC, Subsea 7 SA and Schlumberger among companies that EG gov say “aren’t complying†| OutPut by Rig Lynx

September 8, 2018
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  Equatorial Guinea may exclude oil-service companies TechnipFMC Plc, Subsea 7 SA and Schlumberger Ltd. from the country because they aren’t complying with local-content rules over training and jobs, said a government official. Major oil companies could be asked by the end of September to cancel their contracts Click To Tweet Major oil companies could be asked by the end of

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Cheap oil in the future, is a thing of the past | OutPut by Rig Lynx

September 7, 2018
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Oil prices will be much higher over the next few years than previously thought, according to a new report from Barclays. The investment bank significantly raised its pricing forecast for 2020 and 2025 in its annual medium-term oil report. Barclays expects Brent to average $75 per barrel in 2020, up from a previous estimate of $55, while prices may average

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Companies with strong balance sheets heading back to the west coast of Africa | OutPut by Rig Lynx

September 7, 2018
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Africa is entering the oil-hunt spotlight as drillers, flush with cash after crude’s recovery, are turning their attention back to the continent’s potentially vast resources. The world’s biggest companies from Exxon Mobil to Royal Dutch Shell and BP are setting up camp across Africa. Armed with stronger balance sheets and higher crude prices the industry is on track

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Powder River Basin heating up with over $17 billion of revenue on the burner | OutPut by RigLynx

September 7, 2018
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  As the crude powerhouse that is Texas’ Permian Basin becomes old news, oil explorers are looking for the next big thing–and they have found it in the more-than 4000 feet of stacked pay in Wyoming’s Powder River Basin. In Powder River, Big Oil has found less-congested pipelines, cheaper land, and more importantly, a whole lot of oil. It’s

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Global deepwater demand for offshore drilling units to increase 13% between 2018 and 2020 | OutPut by Rig Lynx

September 6, 2018
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Consistently higher oil prices and greater cost-efficiency in offshore projects are driving increased demand for offshore drilling rigs through 2020, particularly for deepwater projects, according to new analysis from IHS Markit on Wednesday. In its first worldwide mobile rig forecast for 2020, IHS Markit, a world leader in critical information, analytics and solutions for the major industries and

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Shell idle’s the Don Taylor in the GOM for $420k a day for the next 181 days | OutPut by Rig Lynx

September 6, 2018
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Oil major Shell has decided to idle one of Noble Corporation’s drillships operating for the company in the Gulf of Mexico. Noble informed in its fleet status report on Tuesday that Shell had exercised a contractual right to idle the 2013-built drillship Noble Don Taylor Click To Tweet for the remainder of its contract, or 183 days ending February

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Sevan Marine has sold it’s IP to Sembcorp Marine for $39 million | OutPut by Rig Lynx

September 6, 2018
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Norway-based cylindrical floater specialist Sevan Marine has completed the sale of intellectual property to Singapore’s Sembcorp Marine Click To Tweet To remind, Sevan entered into the deal with a Sembcorp Marine subsidiary, Sembcorp Marine Integrated Yards Pte. Ltd. (SCM), on June 7. Sembcorp Marine said on Wednesday that SCM acquired interests and titles to all of Sevan Marine’s intellectual property and

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Southwestern Energy shifts $1.865 billion to Appalachia assets | OutPut by Rig Lynx

September 5, 2018
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Southwestern Energy Company is selling its Fayetteville Shale business and related midstream assets for $1.865 billion, the company announced Sept. 4. The company has entered into a definitive agreement with private Flywheel Energy, LLC and under the transaction will exit Fayetteville. Assets include 915,000 net acres; 4,033 operated producing wells; 3.7 Trillion cubic feet (Tcf) of proved reserves

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