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Substantial oil and gas project investments are moving forward, $110 billion worth | OutPut by Rig Lynx

June 28, 2018
| Archives

Higher oil prices, lower offshore development costs, and improved gas demand outlook have made the oil and gas industry more confident in approving investment in new projects whose total worth has exceeded US$110 billion since the beginning of 2017, research and consulting firm Rystad Energy said in a new analysis this week. After oil and gas projects worth just US$50

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250 years of energy, where? | OutPut by Rig Lynx

June 28, 2018
| Archives

India’s space program wants to go where no nation has gone before – to the south side of the moon. And once it gets there, it will study the potential for mining a source of waste-free nuclear energy that could be worth trillions of dollars. The nation’s equivalent of NASA will launch a rover in October to explore

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Northern clinches 6 well contract for the West Mira | Output by Rig Lynx

June 28, 2018
| Archives

John Fredriksen’s Northern Drilling has found a firm 6-well contract for its harsh environment drilling rig West Mira with Wintershall. The drilling firm said on Wednesday afternoon that the harsh-environment rig would be used for drilling at Wintershall’s Nova field. The contract is expected to start in March 2020. The contract value is estimated at around 106 million. The Wintershall

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Qatar Petroleum to invest $25 Billion in America’s production fields and downstream assets | OutPut by Rig Lynx

June 27, 2018
| Archives

Qatar Petroleum, the world’s biggest seller of liquefied natural gas, is looking to get even larger, investing $20 billion in America’s oil and gas fields at a time when rival U.S. exporters are expanding. The investments will be made over five years, Chief Executive Officer Saad Sherida al-Kaabi said in an interview with Bloomberg News in Washington. Some

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Baker to split from GE | OutPut by Rig Lynx

June 27, 2018
| Archives

General Electric Co. (NYSE: GE) said June 26 it plans to pursue an orderly separation from Baker Hughes Inc. (NYSE: BHGE) as the Boston-based conglomerate chooses to narrow its focus on its aviation, power and renewable energy businesses. The announcement comes roughly a year after GE completed its buyout of Baker Hughes, merging the company with its GE Oil & Gas

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California judge throws out climate change lawsuit | OutPut by Rig Lynx

June 26, 2018
| Archives

A U.S. judge who held a hearing about climate change that received widespread attention ruled Monday that Congress and the president were best suited to address the contribution of fossil fuels to global warming, throwing out lawsuits that sought to hold big oil companies liable for the Earth’s changing environment. Noting that the world has also benefited significantly

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8.5 billion barrels of undiscovered oil still in the Eagle Ford | OutPut by Rig Lynx

June 26, 2018
| Archives

The Eagle Ford Group of Texas is estimated to contain means of 8.5 billion barrels of oil, 66 trillion cubic feet of natural gas, and 1.9 billion barrels of natural gas liquids, according to the US Geological Survey’s (USGS) new assessment. This estimate consists of undiscovered, technically recoverable resources in continuous accumulations. “Texas is so well-known for its history

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Engaged Tracking says “Tesla May Not Be Greener Than Gasoline Counterparts†| OutPut by Rig Lynx

June 26, 2018
| Archives

Teslas may not be any greener than their gasoline counterparts, research from UK-based climate data provider Engaged Tracking has suggested, based on data about the CO2 emissions linked to the production of a Tesla and also the emissions from fossil fuel-powered power plants that provide the electricity for charging the vehicles, The Times reports, citing the research company. While

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