Trending Archives

Eldorado scoops up another SHI newbuild drillship

April 9, 2023

According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that the Norwegian company Eldorado Drilling AS raised $70 million in a private placement connected to its acquisition of two newbuild ultra-deepwater drillships. The rigs are expected to be delivered in 2024 and according to one of the banks involved, Eldorado

Exxon and Pioneer hold preliminary acquisition talks

April 9, 2023

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Exxon Mobil Corp has held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter. Discussions between the two companies about a potential deal have been informal, the newspaper said, adding that Exxon executives have discussed a potential tie-up with at least

Exxon ends Brazil drilling campaign after announcing profit losses

April 9, 2023

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Exxon Mobil Corp has ended a major campaign to find oil in Brazil. Exxon said in an e-mail to Reuters its initial exploration drilling program in Brazil is now complete and that it is "still engaged in Brazil and continues to pursue exploration activity in the country". The oil and gas giant suffered a sequence of drilling failures as an operator in

Equinor issued new drilling permit using the Deepsea Stavanger

April 9, 2023

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The Norwegian Petroleum Directorate (NPD) has granted Equinor a drilling permit for well 31/2-24 and 31/2-24 A in PL 923. The well will be drilled at location 60° 46' 4.61'' N 3° 22' 12.08'' E by the Deepsea Stavanger semi-sub. Licensees are: Equinor 40%; DNO Norge 20%; Petoro 20%; Wellesley Petroleum 20%. Planned spud date is June 2023. Source: NPD Join our mailing list here

Seadrill closes the all stock acquisition of Aquadrill

April 9, 2023

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Seadrill has completed its acquisition of Aquadrill. As a result of the transaction, Aquadrill became a wholly owned subsidiary of Seadrill. In connection with the completion of the transaction, Seadrill issued an aggregate 29,866,505 common shares to former Aquadrill unitholders and equity award holders, resulting in issued share capital of $798,665.03 divided into a total of 79,866,503 Seadrill common

Transocean adds on $113 million with two harsh environment contracts

April 2, 2023

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Transocean Ltd. announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $113 million in firm contract backlog. Transocean Endurance was awarded a multi-well plug and abandonment contract in Australia with an independent operator. The estimated 240-day contract is expected to commence in January 2024 and contribute approximately $91 million in backlog, excluding fees for mobilization. The contract also provides for a

Transocean inks $382 million multi rig deal with Equinor

April 2, 2023

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Transocean Ltd. announced contract awards for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $382 million in firm contract backlog. Transocean Enabler will provide drilling services for 19 firm wells and up to eight optional wells for Equinor on the Johan Castberg field in the Barents Sea. The estimated 570-day contract is expected to commence in April 2024 and contribute approximately $217 million in

Odfjell lands two LOI’s for the Deepsea Atlantic

April 2, 2023

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Odfjell Drilling has signed two Letters of Intent ('LOI’s') with a single client for the Deepsea Atlantic to conduct operations in the north sea region. The LOI’s have a combined firm duration of 23 months and a value of approx. USD 290 million excluding integrated services, upgrades/modifications or mobilisation fees. In addition to the base value, the LOI’s include provisions for performance

Brazil plans on drilling up to 33 wells over $1.5 billion in investment

March 25, 2023

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Exploration of new oil wells in Brazil will receive around US$ 1.5 billion in investments in 2023. The forecast was revealed this week by the National Petroleum Agency (ANP), which published the data in a new panel dynamic on contracts in the exploration phase. The largest share of funds (US$ 1.1 billion) will be applied to the

Vantage Drilling International reports on 4th quarter and full year 2022

March 25, 2023

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Vantage Drilling International reported a net loss attributable to controlling interest of approx. $16.4 million, or $1.25 per diluted share, for the three months ended December 31, 2022, based on the weighted average shares outstanding, as compared to a net loss attributable to controlling interest of $23.5 million, or $1.79 per diluted share, for the three months ended December 31,

International Rig Count up 12% from last year

North America Rig Count: U.S. -4 to 751 Canada -12 to 127

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