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2021- Total Kicking off Production In Uganda

June 19, 2018
| Archives

French oil major Total says it expects to start producing oil in Uganda in 2021 at the earliest, the second firm to suggest it will be unable to meet the 2020 target set by the East African country. Total, alongside China’s CNOOC, are the majority owners and operators of Uganda’s oilfields, while London-listed Tullow Oil owns a small

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64 Million Rate Cut in Oklahoma | OutPut by Rig Lynx

June 19, 2018
| Archives

The Oklahoma Corporation Commission has approved a $64 million rate cut in utility bills proposed by Oklahoma’s largest electric utility. The commission voted 3-0 Tuesday to approve the cut that was agreed to following months of negotiations between Oklahoma Gas & Electric, the state Attorney General’s Office, the commission’s Public Utilities Division and others over a proposal filed

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“Austin Chalk†a comeback kid? | OutPut by Rig Lynx

June 18, 2018
| Archives

The Permian has been getting most of the headlines on U.S. shale, but there is another play in the vicinity that has been attracting more industry attention than media attention. Pretty much forgotten since the ‘90s, when shale oil and gas moved to the forefront of the U.S. oil industry, the Austin Chalk has now gotten a

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Growing global energy demand makes a world powered by renewables a distant goal says Halliburton CEO | OutPut by Rig Lynx

June 18, 2018
| Archives

The chief executive of Halliburton on Friday touted the Houston energy sector’s rebound from the recent oil bust and the brightening outlook for the industry, predicting that the world will continue to rely on oil and gas for many decades to come. Jeff Miller, speaking at the Greater Houston Partnership’s annual State of Energy luncheon, pushed back against

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Transocean takes 4 ships to the junkyard | OutPut by Rig Lynx

June 16, 2018
| Archives

Transocean (RIG) has just announced its decision to retire four rigs: Deepwater Discovery, Deepwater Frontier, Deepwater Millennium, and Songa Trym. The company expects that its second-quarter results will include a non-cash charge of approximately $520 million due to this decision. Transocean added that as the company continued to evaluate the long-term competitiveness of the fleet, additional rigs could be

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Utah Hitting the Geothermal Funding |OutPut by Rig Lynx

June 15, 2018
| Archives

  A river of federal funding will power a large-scale experiment in rural Utah intended to develop new ways to extract geothermal energy from less-than-ideal locations. If it proves successful, this renewable resource could become a major power source throughout the nation. “This is a once-in-a-lifetime opportunity for our research,†said John McLennan, associate professor of chemical engineering at

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What 2023 will look like in the Permian | OutPut by Rig Lynx

June 15, 2018
| Archives

The Permian Basin, already considered a major force among the world’s oil producers, will double its output to reach 5.4 million barrels per day (mbd) by 2023, according to a report released Wednesday. The IHS Markit Permian outlook forecasts a “stunning†level of growth for the energy-rich region located in West Texas and southeastern New Mexico. It anticipates the

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Future LNG Price Doubling ? | OutPut by Rig Lynx

June 15, 2018
| Archives

  (Bloomberg) — American gas prices could double by 2040 as the U.S. exports more liquefied natural gas, but consumers will be shielded as production of the fuel increases and trade balances improve. That’s the conclusion from a study commissioned by the U.S. Department of Energy that found an almost 50 percent chance of gas reaching $5 to $6.50

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This Driller has been approved for development in the Arctic Waters of the Barents Sea | OutPut by Rig Lynx

June 14, 2018
| Archives

  The Norwegian Parliament has approved the development plan for the Johan Castberg oil project in Arctic waters of the Barents Sea, which will cost US$6.1 billion (49 billion Norwegian crowns) and is scheduled for first oil in 2022, project operator Equinor said on Tuesday. Recoverable resources at Johan Castberg are estimated at 450-650 million barrels of oil equivalent, Equinor (formerly

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