This week we see contracts getting the top spot with Seadrill getting some work from Petronas, good to see those ships going back to work! Just behind that we have Pacific getting some much-needed work for the Bora, we reported on this back in October, somehow it found itself back in the limelight this week! Coming into the 3rd spot is Husky’s Sea Rose FPSO with a 1500 bbl spill off the coast of Newfoundland, in 4th is Ensign securing its takeover bid of Trinidad, they basically waited out the market and used a bit of strategy to get the upper hand on rival Precision and for the final spot we have a piece about exploration activity picking up in 2019, this would be great!!! We will see!
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Here we go, we start off with Seadrill and Petronas!
Seadrill Partners LLC (“SDLP†or “the Companyâ€) has secured a one well contract with two options with PETRONAS Carigali Sdn Bhd. (More Here)#
Oct 22, 2018–Pacific Drilling S.A. (OTC: PACDQ) (“Pacific Drilling†or the “Companyâ€) announced today that its deepwater drillship the Pacific Bora has been awarded a contract by Nigerian Agip Exploration Limited (a subsidiary of Eni SpA) for drilling operations in Nigeria. The term of the contract is for one firm well plus two additional option wells. The contract is expected to commence in mid to late November 2018 and firm contract backlog is estimated at $9 million. (More Here)#
Newfoundland, Canada Nov 27 2018- Husky says it will not resume production on the SeaRose FPSO until Husky’s Senior VP in the Atlantic region and the C-NLOPB are satisfied that the integrity of production is where it needs to be. (More Here)#
CALGARY, Nov. 27, 2018 /CNW/ – Ensign Energy Services Inc. (TSX:ESI) (“Ensignâ€) announced today that the conditions to its offer for Trinidad Shares at $1.68 per share (the “Offerâ€) have been satisfied or waived and it has taken up the Trinidad Shares deposited to the Offer as of 10:00 a.m. on November 27, 2018. (More Here)#
RIGZONE Nov 28 (Houston, Texas)- There will be a pick up in oil exploration activity next year, compared to 2018, according to a new report from Fitch Solutions Macro Research.
“On an annual average basis, revenues will be boosted by higher oil prices, while still compressed services costs will flatter margins and bolster cash flows. This will give companies greater flexibility to increase their CAPEX and assume more risk,†the report stated. (More Here)
Alright, that’s this week’s wrap up!
From all of us here at OutPut- Have a great week and stay safe!
Photo by Michael Elleray Used under CC License 2.0Â
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