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Total LNG Stepping Up Their Game | OutPut by Rig Lynx

June 11, 2018
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Shareholders of Clean Energy, the California-based liquefied natural gas (LNG) supplier for transport, approved on Friday the recent deal with France’s Total under which the latter will buy up to 50.8 million shares of Clean Energy for $83.4 million. Clean Energy shareholders approved, by over 97 percent of the shares present at the company’s annual shareholders meeting, the purchase by Total

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European Pact Grabs Another 3 Billion Cubic Meters of Gas and 250 Mill BBLs of Oil | OutPut by Rig Lynx

June 11, 2018
| Archives

  Algeria’s Sonatrach on Monday signed a 25-year extension for exploration and development with France’s Total and Spain’s Repsol for the Tin Foye Tabankort gas field in block 238, the state energy firm said and was confirmed by the French oil major. “These investments will allow to maintain the production of the field, which is currently over 80,000 barrels of oil equivalent per day for 6 years,†Total

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“The transition to a more sustainable energy system is too slow†| OutPut by Rig Lynx

June 9, 2018
| Archives

  Peak oil demand could come around 2030 at 111 million bpd in the current market as road transport electrification and efficiency gains in all sectors offsets increasing petrochemical and aviation growth, Norway’s Equinor said in its Energy Perspectives report on Thursday. That assumption is one of Equinor’s scenarios for energy transition, Reform, which suggests that oil demand will grow robustly

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Will High Oil Price Destroy Growth? | OutPut by Rig Lynx

June 9, 2018
| Archives

  The recent jump in oil prices to $80 per barrel raised a lot of questions about whether or not the heady demand growth projections for this year would hold up. In fact, signs of strain quickly popped up in disparate parts of the world. But as governments move to protect their citizens from high fuel prices (and

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Borr Hammers Out Another Contract | OutPut by Rig Lynx

June 9, 2018
| Archives

  In a presentation last week, the company said it had secured a 6-month drilling contract for the Norve rig in West Africa. The contract is expected to start in August at a dayrate of $80,000, placing the full contract value at around $14.7 million. The offshore driller, one of the world’s largest jack-up rig owners, did not say

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$1 Billion a Day Bottleneck? | OutPut by Rig Lynx

June 8, 2018
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More than $1 billion a day. That’s how much value a Permian Basin pipeline crunch wiped out from the explorers most focused on the booming U.S. shale region in two weeks. Eight of the Permian’s so-called pure-play drillers lost $15.6 billion in combined market value in the 15 days through Tuesday, as shipping constraints devour the profit they can fetch

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$4 Million for Arctic Refuge Construction | OutPut by Rig Lynx

June 8, 2018
| Archives

  ANCHORAGE, Alaska – The Trump administration said on Thursday it would spend $4 million on construction projects in the Arctic National Wildlife Refuge in preparation for oil drilling in the nation’s biggest wildlife park. In an announcement that touted planned improvements to U.S. Fish and Wildlife Service visitor facilities, the Department of the Interior said it has approved

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Crude Headed Out of Kenya for the First Time | OutPut by Rig Lynx

June 5, 2018
| Archives

  Kenya sent on Sunday the first trucks transporting crude oil from the oil-rich but landlocked northern region of Turkana to the port of Mombassa, for the country’s first oil exports as part of a pilot export scheme. As early as in the middle of May, Kenya had 70,000 barrels of oil stored in Turkana, waiting to be trucked to the Mombasa port

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