Valaris Limited announced new contracts awarded subsequent to issuing the Company’s most recent fleet status report on February 21, 2023.   Three-year contract with Petrobras for drillship VALARIS DS-8. The rig will be reactivated for this contract. The total contract value is approximately $500 million, including a $30 million mobilization fee. 100-day contract with a TotalEnergies affiliate for drillship VALARIS DS-12. The contract is expected to commence in second quarter 2023. 70-day contract with Beach Energy offshore New Zealand for heavy duty modern jackup VALARIS 107. The contract is expected to commence in third quarter 2023. The total contract value is approximately $26 million. President and Chief Executive Officer Anton Dibowitz said, “We are particularly pleased to have secured the award for preservation stacked drillship VALARIS DS-8, for a contract that is expected to generate a meaningful return over the firm contract term, and we remain focused on exercising our operational leverage in a disciplined manner. This most recent award represents the sixth contract awarded to one of our high-quality stacked floaters since mid-2021, and speaks volumes about our demonstrated track record of project execution when reactivating rigs.”   Dibowitz added, “Following the reactivation of VALARIS DS-17 and DS-8, we will have ten floaters working across the golden triangle, including four drillships in Brazil, a market where we expect to see continued growth over the next several years.”   Updated Guidance   As a result of the contract awarded to VALARIS DS-8, which will require the rig to be reactivated from preservation stack, we are updating our first quarter 2023 and full-year 2023 guidance provided on our fourth quarter 2022 conference call on February 21, 2023.   First Quarter 2023   Contract drilling expense is expected to increase by approximately $5 million to $385 million to $395 million. Adjusted EBITDA is expected to decrease by approximately $5 million to negative $5 million to breakeven. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $25 million to $30 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Full-Year 2023   Revenues are anticipated to be $1.8 billion to $1.9 billion, unchanged from the guidance provided on our fourth quarter 2022 conference call. Contract drilling expense is expected to increase by approximately $60 million to $1.49 billion to $1.59 billion. Adjusted EBITDA is expected to decrease by approximately $60 million to $180 million to $220 million. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $280 million to $320 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Capital expenditures are expected to increase by $60 million to $320 million to $360 million. Source: Valaris Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Seadrill Limited announced that the West Neptune has executed approximately six months of term extensions with LLOG Exploration Offshore, L.L.C in the US Gulf of Mexico.   The extensions will commence in direct continuation of the existing term, and will keep the rig busy until Q3 2024, furthering Seadrill and LLOG’s long-term association. Total contract value for the extension is approximately $79 million. Source: Seadrill   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Semisub rig owner Dolphin Drilling has inked a new contract with Peak Petroleum in Nigeria for its 1974-built Blackford Dolphin.   The firm contract, which follows the letter of award in January, gives the Euronext Growth-listed owner of three rigs the potential to extend the unit’s backlog by a minimum of 120 days and up to 485 days. The deal adds to and will be a direct continuation of the previously announced 12-month contract with General Hydrocarbon Limited (GHL).   Øystein Stray Spetalen-backed company said the effective dayrate associated with the minimum firm period of the contract is $325,000, including the mobilisation fee.   “The final award of the contract for Blackford Dolphin shows the opportunities in Nigeria at a strong dayrate, in addition to building on the backlog for the rig. It also underlines the attractiveness of our assets, and we look forward to returning to revenue-generating operations in 2023,” noted Bjørnar Iversen, CEO of Dolphin Drilling.   Source: Dolphin   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Shell and state-owned QatarEnergy (QE) have made a new oil discovery at a deepwater exploration well around 270km offshore Namibia, the country's third in just over a year.   The "light oil" discovery in the PEL-39 licence in the Orange Basin offshore southern Namibia was announced by QE, which holds a 45pc non-operating interest in the block, and Namibia's state-owned Namcor, which holds a 10pc stake. Shell, which operates the licence with a 45pc share, has yet to make an announcement.   QE said the discovery was made at the Jonker-1X deepwater well, which was drilled in water depths of around 2,200m. Drilling work began at the well in December and concluded several days ago, QE said. Neither QE nor Namcor have issued a reserve estimate, saying further appraisal work is needed still to determine the size and potential of the find.   The news cements Namibia's reputation as a frontier exploration hotspot. It is the third oil discovery in the space of a year. The other two were also in the Orange Basin, which extends from southern Namibia to the east coast of South Africa. The same consortium reported a discovery at the Graff-1 well, also in the PEL-39 licence, in early February 2022. A different consortium — comprising TotalEnergies, QE, UK-based independent Impact Oil and Gas and Namcor, announced a separate light oil discovery at the Venus 1-X well a few weeks later in the PEL-56 licence.   The Jonker find comes less than two weeks after TotalEnergies said it would begin a multi-well drilling campaign to appraise the Venus discovery. TotalEnergies said it plans to spend half of its 2023 exploration budget in Namibia. The company has previously indicated that Venus could hold at least 5bn bl of oil equivalent (boe) of recoverable oil and gas. Consultancy Wood Mackenzie has estimated it could hold as much as 6bn bl of oil, and possibly double that if the appraisal drilling yields positive results.   TotalEnergies holds a 40pc operating interest in the PEL-56 licence, with QE, Impact Oil and Gas and Namcor holding 30pc, 20pc and 10pc stakes, respectively. If successful, the Venus drilling campaign will result in two potentially fully appraised early production centres, Impact Oil and Gas said.   Source: Argus   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Solstad Offshore ASA nnounced they have signed an agreement with U.S. based Tidewater Inc. for the sale of 37 platform supply vessels.   “The sale of the PSVs represents a shift in our strategy in a changing market. The PSVs mainly support the oil and gas industry, while the AHTSs and CSVs can service all offshore energy sectors, including oil and gas and renewables. This move is therefore in line with our strategy of being a key enabler in the energy transition. Further, the transaction will give Solstad greater financial leeway and a significantly improved debt and cash position going forward.”   Lars Peder Solstad, CEO of Solstad Offshore Source: Solstad   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Reactivations favoured over newbuilds so far   As the supply/demand balance tightens, the reactivation of rigs has been on the rise with approximately 25 jackups, three semis and nine drillships brought back to life since 2021.   However, the level of newbuilds being delivered from shipyards hasn’t increased to the same level witnessed during the short-lived 2019 recovery period.   During 2019, 25 new jackups, four semis and two drillships were delivered from shipyards in the Far East or Singapore but 2022 brought with it just 10 deliveries in total, which is even less than the number delivered during 2020 (11 rigs).   Most of the remaining stranded newbuild rigs available, of which there are 22 jackups, 15 drillships and eight semis, are owned by the shipyards and drilling contractors continue to be very cautious when it comes to purchasing such a rig. However, 2023 could be the year the tide turns on this, especially if the level of demand continues to improve. In the last quarter of 2022, Transocean announced that it had signed a purchase agreement as part of a joint venture for the 7th generation ex-West Aquila drillship for US$200 million from the Daewoo shipyard.   Meanwhile, Saipem confirmed it had exercised its option to buy the 7th generation Santorini drillship (originally ordered by Ocean Rig), which it had been bare-boat chartering from Samsung Heavy Industries since 2021. Meanwhile, it’s understood that various drilling contractors are eyeing the remaining drillships left in yards.   New rig orders unlikely in near term   The level of new rig construction contracts being awarded has all but stopped, with just two new rigs ordered since 2015. Sentiment from the industry is that there is little appetite for new rigs to be ordered following the harsh lessons learned from previous newbuild cycles as well as a lack of spare capital for such an expensive purchase. Therefore, it is unlikely that we will see a wave of new construction anytime soon and instead drilling contractors will look to their own idle fleets or already under-construction or stranded units to meet their client’s needs if current supply runs out.   Source: Westwood   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Biden administration needs until the end of the this year to finalize a long-awaited five-year plan for offshore oil and gas development in federal waters, according to court documents filed this week.   The Interior Department said it will take until December to complete "all necessary analyses, approvals, and mandatory procedural steps" related to the plan, the agency said in a filing on Monday with the U.S. Court of Appeals for the District of Columbia.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Petrobras has signed three of Maersk Supply Service’s L-class anchor handlers for a three-year period, covering a broad work scope of anchoring handling activities and rig movements.   Maersk Leader, Maersk Launcher and Maersk Lancer have been delivered in Brazil. This now sees twelve vessels from the Maersk Supply Service fleet currently serving the Brazilian and Latin American markets.   'Maersk Supply Service is committed to investing in the Brazilian market and to delivering safe, efficient and sustainable solutions for our customers in this strategically important region. We are pleased at the trust Petrobras has again shown in us, and we look forward to continuing our positive collaboration,' says Rafael Thome, Managing Director for Brazil.   This contract comes as Maersk Supply Service continues to consolidate its presence in Brazil, establishing itself as a recognised integrated solutions supplier in the region. It follows a series of solutions contracts for the FPSO Fluminense on behalf of Shell, as well as the Mero 2 contract for Petrobras. Since 2017, Maersk Supply Service has expanded its portfolio to delivering EPCI solutions for the safe and efficient fabrication, assembly, and installation of large floating assets, building on its expertise and 50-year legacy of deep-water towing and mooring scopes. Source: Maersk   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Aquadrill and a subsidiary of Vantage Holdings International have reached an agreement to provide the Capella, an MPD outfitted 6th generation drillship, for a one well contract for operations in East Africa.   The total contract value for the contract is expected to be approx. $37 million. Work is expected to commence in mid-April 2023 and to run until the end of May 2023. Source: Aquadrill   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Shelf Drilling has secured a two-year contract for the Shelf Drilling Scepter for operations offshore Nigeria. The contract value for the firm period, including mobilization revenue, is approx. USD 118 million. The contract also includes a one-year option, and the planned start-up of operations is May 2023.   Source: Shelf   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that the Saipem-managed jackup Jindal Pioneer will remain working with Eni offshore Mexico into the second half of 2023, with further options available for the rig until the end of 2024.   Jindal Pioneer is being leased from Jindal Drilling & Industries by Saipem and has been contracted to Eni offshore Mexico since the first quarter of 2019, with a five-month standby period in 2020 due to COVID-19. The rig's latest term with Eni began in January 2023.    Eni has also exercised options for Saipem 10,000-ft drillship Saipem 10000, keeping the rig under contract through the end of 2023 with further options available through the first half of 2024.   Eni is using the rig for work in the Mediterranean, including activity offshore Egypt and Italy.   Source: Esgian Jindal Pioneer and Esgian Saipem 10,000   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Saipem has been awarded by the Joint Venture Eni Côte d'Ivoire Ltd. and Petroci a drilling contract offshore the Ivory Coast worth 400 million USD.   This value is to be considered gross of the leasing costs of the Deep Value Driller vessel that will be used for the operations.   The contract includes the use of the seventh-generation drillship named Deep Value Driller, one of the most modern in the world, for which Saipem has entered into a charter agreement with the company Deep Value Driller.   Saipem is thus strengthening the competitiveness of its fleet by leveraging its consolidated expertise in the selection and management of technologically advanced vessels.   The award of this contract represents an important consolidation of Saipem's presence in the Ivory Coast, a strategic area where the company is currently executing the project for the development of the oil and gas field Baleine. Such field was discovered in the recent past thanks to the drilling activities of the Saipem 10000 and Saipem 12000 vessels.   Source: Saipem   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Bernie Wolford, Jr., President and Chief Executive Officer, stated "Diamond delivered another strong operational quarter with 96.4% revenue efficiency and industry-leading safety performance. This completes a strong year in which our overall revenue efficiency was just under 94% and our safety performance beat industry averages by a large margin. I would like to thank the entire Diamond team for continuing to deliver for our customers, enabling us to strengthen our relationships and favorably positioning the Company for future contract awards.    "We finished the year with approximately $1.8 billion, or 17.6 rig years of backlog, including $482 million added during the fourth quarter, and importantly we will have repricing opportunities for two high-specification drillships and two semisubmersibles in the next 12 months."   Operational Highlights   During the fourth quarter, the Ocean BlackHawk and Ocean BlackRhino combined efforts to earn a well-based performance bonus for the second consecutive quarter. This marks the sixth performance bonus earned by a combination of these rigs working on the Woodside Energy campaign in Senegal. The Company's owned and managed fleet continued to perform well during the quarter, achieving a revenue efficiency of 96.4%. During the quarter, the Company made good progress on the reactivation of the Ocean GreatWhite. The rig is currently undergoing acceptance testing and is expected to commence its contract in March.   Wolford concluded, "Diamond's performance continues to demonstrate our ability to deliver operational excellence to our customers in an efficient and industry-leading safe manner and positions us well to be a key beneficiary of this burgeoning upcycle in deepwater offshore drilling."   Source: Diamond Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Vår Energi has confirmed discovery of oil in the operated 7122/8-1S Countach well in production licence PL229 (Goliat), northwest of Hammerfest, including updated volume estimates. The well was drilled in one of the segments that form the Countach prospect.   Preliminary estimates place the size of the discovery in the tested segment between 0,5 – 2,1 million Sm3 (3-13 million bbls) of total recoverable oil equivalents. The potential of the Countach prospect, in the undrilled segments, is estimated at up to 3,7 million Sm3 (23 million bbls) of total recoverable oil equivalents.   The well will now be permanently plugged and abandoned, and the licensees will evaluate drilling an appraisal well in the future.   'Countach reinforces the company’s position as the leading exploration company on the Norwegian shelf. This discovery is yet another in a series of successful exploration wells in the Barents Sea in recent years, including Lupa – the largest discovery on the Norwegian shelf in 2022. At the same time, the discovery confirms our exploration strategy and our position in the area. We will consider potential commercial development options and tie-in of the discovery to Goliat FPSO. Due to late arrival of the drilling rig on the field this winter, we have not been able to carry out the planned sidetrack before the environmental drilling restrictions commence on 1 March. We look forward to continuing to explore the area around Goliat at a later point in time,' says Rune Oldervoll, EVP Exploration and Production in Vår Energi.   The Countach well was drilled about 13 kms northeast of the Goliat field in the southern part of the Barents Sea and 91 km from Hammerfest.    The well was drilled to a measured depth of 2958 metres and oil was encountered in the Realgrunnen and Kobbe formations. Extensive data has been collected for further assessment.   The well will now be permanently plugged and abandoned.   Vår Energi is the operator with an ownership interest of 65%, while Equinor owns the remaining 35%.   Source: Vår Energi   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  ADNOC Drilling  has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million.   The use of hybrid power solutions is an essential element of ADNOC Drilling’s rigorous decarbonization strategy as the Company contributes to ADNOC’s commitment to reduce greenhouse gas intensity by 25% by 2030, as well as the UAE Net Zero by 2050 strategic initiative.   The rigs use a high capacity battery and engine automation in parallel with the rigs’ traditional diesel generators. The hybrid power technology system stores energy in its batteries to use when there is a need for continuous power or to provide instant extra power when there is an increase in demand, reducing a rig’s greenhouse gas emissions intensity by 10%-15%.   Each of the rigs will have the provision to be connected to the electrical grid with minimum adjustment, depending on rig location and the availability of grid power, further reducing emissions.   Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, said:  'This is yet another exciting step for ADNOC Drilling – these new rigs contribute to the capacity required to meet our customers’ expectations of maximum energy with minimal emissions. As our growth trajectory accelerates and we continue to build our capacity and capabilities to drive shareholder returns, our commitment to the decarbonization of our operations remains fundamental.'   These new rigs are central to increasing ADNOC Drilling’s operational onshore capacity and are a direct response to ADNOC’s accelerated production capacity targets. The Company is a key enabler of ADNOC’s accelerated production capacity targets of five million barrels of lower carbon intensity crude per day by 2027, and achieving gas self-sufficiency for the UAE.   The rigs will progressively enter the fleet from the fourth quarter of this year, with partial revenue and EBITDA contribution from 2024 and full year annual contribution from all rigs in 2025. They are the first new land rigs acquired as part of updated guidance which will see peak-owned rig count of 142 by the end of 2024, which compares to IPO guidance of 127 rigs by the end of 2030.   ADNOC Drilling owns one of the world’s largest drilling and well completion fleets. The ten newbuild hybrid power rigs will be built by China Petroleum Technology & Development Corporation in the People’s Republic of China. The units are 1500HP Fast Desert Moving design with capabilities to work in cluster wells.   The Company will lease an additional four land rigs bringing a total of 14 new rigs being added to the fleet. Source: ADNOC   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  DOF Subsea has exercised an option for the diving support vessel Skandi Achiever, including ROV and diving services. The new commitment will now run until February 2024 and has commenced in direct continuation with the current commitment.   In addition, to the newly announced contract on the RSV vessel Geoholm, DOF has just signed another contract to perform survey services for the same period.   The contracts have a combined value in excess of USD 35 million for the firm period.   DOF Subsea CEO, Mons S. Aase, stated:   'I am very happy with the contract awards securing utilisation of our personnel in Brazil and one of our key assets in the Group, Skandi Achiever. The contract award also confirms our strong position and track record in Brazil and strengthens our long relationship with Petrobras'.   Source: DOF   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Equinor will acquire the British oil and gas business of Canada's Suncor Energy for $850 million, giving the Norwegian company stakes in several key North Sea petroleum assets.   Equinor said the deal includes a 29.9% stake in the Buzzard oilfield, an additional 40% stake in the Rosebank development and will also see the Norwegian firm taking on Suncor's UK-based employees who work with these assets.   "This transaction is in line with Equinor's strategy of optimising our oil & gas portfolio and deepening in our core countries," Philippe Mathieu, the company's head of international exploration and production, said in a statement.   Three sources familiar with the plans had on Wednesday told Reuters a deal between Equinor and Suncor for the British assets was close.   "The decision to sell our UK Exploration & Production (E&P) business is a clear example of our commitment to optimise our asset portfolio," Suncor's interim president and CEO, Kris Smith, said in a separate statement.   "Having the right 'fit and focus' in our portfolio enables us to both ensure effective capital allocation consistent with our strategic objectives and to focus our organisation on delivering value in the rest of our portfolio, including our E&P business in East Coast Canada," he said.   The transaction will add approximately 15,000 barrels of oil equivalent per day to Equinor's production in 2023, the Norwegian company said. Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Commenting on Noble's outlook, Mr. Eifler stated, "We continue to see a very promising fundamental setup for the offshore drilling business, governed by increasingly tight industry utilization, robust customer economics and demand growth visibility and, not least, rational capital allocation in our industry. As the market improves, we remain focused on execution across all facets of our business, and are committed to returning capital to shareholders   Fourth Quarter Results Contract drilling services revenue for the fourth quarter of 2022 totaled $586 million compared to $289 million in the third quarter, with the increase primarily attributable to the business combination. Marketed fleet utilization was 88% in the three months ended December 31, 2022 compared to 89% in the previous quarter. Contract drilling services costs for the fourth quarter were $366 million, up from $186 million in the third quarter of 2022. Adjusted EBITDA for the three months ended December 31, 2022 was $157 million compared to $97 million in the third quarter of 2022. Capital expenditures totaled $77 million in the fourth quarter and $194 million for the full year ending December 31, 2022. Net cash provided by operating activities for the fourth quarter was $171 million and free cash flow was $106 million. Our business combination with Maersk Drilling closed on October 3, 2022. Results for the fourth quarter reflect the combined company for 90 out of 92 days of the period.   Operating Highlights and Backlog Noble's marketed fleet of sixteen floaters was 91% contracted through the fourth quarter, compared with 96% utilization on nine floaters in the prior quarter. This sequential change reflects the addition of seven UDW rigs added from the legacy Maersk Drilling fleet. Tier 1 drillships remain at or above 95% marketed utilization, with leading edge dayrate fixtures steadily increasing, presently in the low to mid $400,000s per day range. Since the prior Fleet Status Report in early November, Noble has secured 24 months of additional backlog across four 6G and 7G drillships at an average dayrate above $420,000. Our sixteen marketed UDW rigs are currently 75% contracted throughout 2023 with visibility toward securing additional utilization for a portion of the remaining availability for this year, although some contract gaps and SPS time will remain uncontracted. Additionally, the Noble Globetrotter Iremains off contract since October, pending permit approvals in Mexico. The average dayrate across our $2.7 billion floater backlog is approximately $400,000, and with over half of our 2024 floater days uncommitted, an upward trajectory for repricing the fleet is visible based on current market dynamics.   Utilization of Noble's thirteen marketed jackups was 85% in the fourth quarter, compared with 82% utilization on eight marketed jackups during the third quarter. The sequential change in fleet composition reflects the addition of ten jackups from the legacy Maersk Drilling fleet and the sale of five legacy Noble jackups to a subsidiary of Shelf Drilling, Ltd. as part of the business combination with Maersk Drilling. During the fourth quarter, the Noble Innovator was awarded a one year contract with BP in the UK North Sea at $135,000 per day, with a one year option at a higher dayrate. As recently reported, the Noble Regina Allen is currently off contract and expected to be unavailable for a substantial portion of 2023 as leg and jacking system repairs are made. Currently nine of our thirteen jackups are contracted, and 55% of total available jackup days across our fleet are contracted throughout 2023. Our $1 billion jackup backlog is heavily weighted to the Noble Integrator and Noble Invincible commitments under the Aker BP alliance. While jackup demand in Norway remains subdued in 2023, we continue to see improving demand indicators in Norway and globally for our jackup fleet moving forward. We expect a limited contribution from jackups to our total EBITDA in 2023. Noble's backlog at December 31, 2022 stood at $3.9 billion.   Read More Here   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Bureau of Ocean Energy Management (BOEM) has announced it will hold an oil and gas lease sale in the Gulf of Mexico on March 29, 2023.   Gulf of Mexico Oil and Gas Lease Sale 259 will offer approx. 13,600 blocks on 73.3 million acres in the Western, Central, and Eastern Planning Areas on the U.S. Outer Continental Shelf. The IRA mandated that BOEM hold Lease Sale 259 no later than March 31, 2023. The lease sale will be accessible via a link on www.boem.gov. The opening and reading of the bids will begin at 9 a.m. Central Daylight Time. BOEM must receive all bids via the U.S. Postal Service only no later than 10 a.m. Central Daylight Time on March 28, 2023.   In January, BOEM published a final supplemental Environmental Impact Statement for the lease sale that analyzed the important environmental resources and identified robust mitigation measures to be considered in leasing the area. The lease sale terms include stipulations to mitigate potential adverse effects on protected species and to avoid potential conflicts with other maritime uses.   BOEM’s proposed economic terms are designed to encourage diligent development while ensuring fair market value to taxpayers and maintaining compliance with the IRA. A full list of terms and conditions are in the Final Notice of Sale (FNOS). As indicated in the FNOS, the lease sale is specific for oil and gas exploration and development, not other uses.   BOEM must receive all bids via mail only through any parcel delivery service (e.g., FedEx, UPS, U.S. Postal Service, DHL), prior to the bid submission deadline of 10:00 a.m. Central Daylight Time on March 28, 2023.   The FNOS, a copy of the Record of Decision affirming the sale, a map of the lease sale area, and instructions for bidding are available at http://www.boem.gov/sale-259.   Source: BOEM   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Offshore drilling is making a comeback after several challenging years, and Transocean, a major deepwater drilling contractor, expects to see a multi-year upcycle in the offshore drilling industry.   “Looking back, 2022 will be remembered as a pivotal year in Transocean’s history,” said Chief Executive Officer Jeremy Thigpen in an announcement on the company’s financial results on Tuesday.   “During the year, we continued to high-grade our fleet through the deployment of innovative technologies and the delivery of the industry’s only two 8th-generation drillships, Deepwater Atlas and Deepwater Titan.   “Perhaps most importantly, we secured approximately $4 billion in incremental backlog, our largest annual backlog addition since prior to the industry downturn in 2014.”   The company’s contract backlog was $8.5 billion as of the February 2023 Fleet Status Report.   Thigpen said: “As an industry, it is clear that we have finally emerged from eight exceptionally challenging years and are now in the early stages of what we believe will be a multi-year upcycle.   “To maximize value for our shareholders during this upcycle, Transocean will continue to secure high-quality backlog, maintain our acute focus on operational excellence, exercise capital discipline, and take the necessary steps to right-size our balance sheet.”   Transocean on Tuesday reported a net loss attributable to controlling interest of $350 million for the fourth quarter of 2022.   Contract drilling revenues for the quarter decreased sequentially by $85 million to $606 million, primarily due to reduced activity for five rigs that were idle in the fourth quarter, partially offset by higher revenue efficiency and revenues earned by the newbuild ultra-deepwater drillship Deepwater Atlas, which started operations in October 2022.   Fourth quarter 2022 capital expenditures of $409 million, compared to $87 million in the prior quarter, were primarily related to Transocean’s newbuild drillships under construction, including the cash component of the final milestone payment for the delivery of Deepwater Titan in December 2022.   For the full year, Transocean’s net loss attributable to controlling interest totaled $621 million on contract drilling revenues of $2.57 billion.   Source: Transocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Deep Value Driller AS announced a bareboat charter for the 7th generation mobile offshore drilling vessel "Deep Value Driller" between the Company's subsidiary, Deep Value Driller Ltd., and Saipem, an energy service group currently active in the drilling segment in West Africa, Mediterranean, US Gulf, Middle East and Norway.   The Contract covers an estimated firm period of approximately 3 years. The Contract may be extended by up to approximately a further one year period. The Contract adds approximately USD 160 million of firm revenue backlog to the Group (excluding the rate payable for any optional extensions of the Contract).   The Group has commenced reactivation activities for the Drillship which are expected to be completed during the summer of 2023 upon which the Drillship will be delivered to the Charterer under the Contract.   To fund the reactivation activities for the Drillship, refinancing of the Company's existing credit facility and general corporate purposes, DVD Ltd. has entered into a USD 75 million senior secured term loan facility agreement (the "Loan Facility") with a reputable private lender and Nordic Trustee AS as facility and security agent. The Loan Facility will mature three years from the date of the Loan Facility with a balloon payment of approx. USD 50 million after equal monthly amortizations in the period from 18 months after the date of the Loan Facility until maturity. The Loan Facility will be secured by a first priority security interest in the Drillship and the assets held by the Group. The Loan Facility carries an interest rate of 9.75% p.a. and have an original issue discount of 3.875% and includes customary covenants for a loan facility of this size and nature.   Svend Anton Maier, CEO of the Company, commented: "We are very pleased to enter into a contract with Saipem, a reputable operator in the ultra-deep water segment. The Deep Value Driller is one of the newest and most modern drill-ships in the world, and we expect the vessel to be one of the key contributors to Saipem for their drilling campaigns in the years to come".   Source: DVD   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Norwegian Petroleum Directorate (NPD) has granted Wellesley Petroleum a drilling permit for well 35/10-10 S in production licence PL 1148.   The well will be drilled at location 61° 1' 11.31'' N  3° 9' 50.05'' E by the Deepsea Yantai semi-sub.   Licensees are: Wellesley Petroleum 50%; DNO Norge 30%; Aker BP 10%; Equinor 10%.   Planned spud date is March 2023.   Source: NPD   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for well 25/2-24 S in production licence PL 919.   The well will be drilled at location 59° 53' 17.64'' N  2° 23' 4.22'' E by the Scarabeo 8 semi-sub.   Licensees are: Aker BP 47.7%; Equinor 40%; LOTOS Exploration and Production Norge 12.3%.   Planned spud date is Feb 2023.   Source: NPD   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  DOF Subsea has announced that an option has been exercised for the vessel Skandi Africa. The new commitment will now run until February 2025 and will commence in direct continuation with the current commitment.   Skandi Africa is a high-end subsea vessel designed for harsh environment and deepwater subsea construction and flexlay operations.   DOF Subsea CEO, Mons S. Aase, stated:   'Skandi Africa is the most sophisticated vessel in our fleet and we are looking forward to continuing the journey, delivering successful installation campaigns.'   Also DOF announced a new contract for DOF Subsea Brasil for the charter of the RSV Geoholm. Vessel and ROV will support a large SURF Project in Brazil.   With mobilisation planned to start beginning of March 2023, the contract has 180 days firm plus options and has a total value of more than USD 19 million for the firm period.   Mons S. Aase, CEO, DOF Subsea said:   'I’m very happy with this award in Brazil. We have supported the Client on projects in all parts of the world and enjoy our excellent relationship.'   Source: DOF   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Floaters   330-day priced option exercised by Shell Nigeria Exploration and Production Company (SNEPCo) offshore Nigeria for drillship VALARIS DS-10. Following the exercise of this option, the rig is under contract through March 2024. The operating day rate for the option period is $231,000.   Jackups   One-year contract with an undisclosed operator offshore Trinidad for heavy duty ultra-harsh environment jackup VALARIS 249. The contract is expected to commence late in second quarter or early in third quarter 2023. The operating day rate is $125,000. We will receive a mobilization fee of $8.5 million, plus a daily rate of $64,000 while the rig is in transit from New Zealand to Trinidad.   One-well option exercised by Eni offshore Australia for heavy duty modern jackup VALARIS 107. The option period commenced in February 2023 in direct continuation of the existing contract. The operating day rate for the option period is $126,500. ARO Drilling.   Five-year contract offshore Saudi Arabia for standard duty modern jackup VALARIS 76. The contract is expected to commence in first quarter 2024. Valaris will bareboat charter VALARIS 76 to ARO.   Three-year contract offshore Saudi Arabia for heavy duty modern jackup VALARIS 108. The contract is expected to commence in third quarter 2023. Valaris will bareboat charter VALARIS 108 to ARO.   Source: Valaris   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Apache Beryl I Limited verbally informed Diamond Offshore Drilling, Inc. that it intends to exercise its option to terminate its drilling contract for the Ocean Patriot.   In accordance with the terms of the drilling contract, the rig will continue to perform services under the contract until at least July 2023. Prior to the verbal termination notice, the Company had estimated that the drilling contract, which originally commenced in 2017 and was most recently extended in 2021, would conclude in September 2024. Pursuant to the contract, upon cancellation Apache is obligated to pay the Company an early termination fee of $12.5 million.   The Company will market the Ocean Patriot for new projects to commence after the termination of the Apache contract.   Source: Marketscreener   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  PETRONAS has signed Production Sharing Contracts (PSCs) for nine exploration blocks marketed under the Malaysia Bid Round 2022 (MBR 2022) with the winning bidders consisting of four existing and four new investors. The PSCs were signed by Firouz, in the presence of Executive Vice President and Chief Executive Officer of Upstream, Datuk Adif Zulkifli.   The nine exploration PSCs are expected to see an investment amounting to RM1.7 billion in exploration drilling capital, particularly in the deepwater areas and the underexplored formations. In addition, the award of these nine blocks has also reduced the number of Malaysia’s open blocks by about a third, in line with MPM’s efforts to increase exploration investments in the country.   Apart from issuing and managing petroleum arrangements in Malaysia, PETRONAS, through MPM, is the country’s oil and gas industry shaper and investment enabler that steers upstream petroleum activities in Malaysia. Source: PETRONAS   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Well-Safe Solutions and Apache Corporation have signed a multi-year framework agreement to decommission wells in the North Sea, as part of the decommissioning specialist’s Plug and Abandonment (P&A) Club offering.   The deal provides the US-based energy producer with access to specialist decommissioning assets the Well-Safe Defender and Well-Safe Guardian to P&A its well stock.   Chris Hay, Director of Strategy and Business Development at Well-Safe Solutions, said:   'We are ready to assist Apache with their well decommissioning requirements, affording them the flexibility to book their wells into our campaigns when required. Our multi-well, multi-operator P&A Clubs give our clients cost certainty and leverage the cumulative experience gained by our specialist decommissioning teams on both assets across hundreds of wells to date. This ‘learning curve’ of knowledge, built up through our exclusive focus on well decommissioning operations, enables clients to reap the benefits of scope aggregation when adding a number of wells – or even a single well – to a campaign.   'By building a strong track record solely in well plug and abandonment operations, instead of continually switching between drilling and decommissioning, the cumulative experience gained ensures the delivery of safe and efficient operations.'   According to the North Sea Transition Authority, it takes 31 days on average to decommission a subsea well from a North Sea rig.   As an example, Well-Safe Solutions’ practical experience on four North Sea wells during summer 2022 is comfortably within the top P25 performance quartile of this average, with the shortest well decommissioning window 7.9 days and the longest just 15.5 days.   Separate to the frame agreement signed by both companies, Apache has secured a slot for Well-Safe Solutions to plug and abandon subsea wells in the UK Continental Shelf.   This work will begin in 2024 as part of a continuous campaign, enabling Well-Safe Solutions to maximise schedule flexibility and improve efficiencies of scale for the member companies within the campaign.   The P&A Club’s sharp focus on operational and cost efficiency aligns with industry regulator the North Sea Transition Authority’s target to reduce the cost of decommissioning upstream oil and gas infrastructure in the UKCS by 35% by the end of 2022.   Read more here: Well-Safe   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Solstad Offshore has announced several new contracts and contract extensions for various PSVs (platform supply vessels) and AHTS vessels (anchor handling tug supply vessels).   The contracts have a combined firm duration of approx. 10 vessel years and will support various clients in the global markets. The contracts will be executed by 14 of the companies PSVs and AHTS vessels and have a value of approx. NOK 830 million.   Kenneth Lande, EVP Global AHTS & PSV of Solstad, said: 'These new contracts reflect a continued strong market for offshore support vessels. In general, we see that commercial rates continue to improve and clients are prepared to commit to longer contracts than what we have experienced in recent years.'   Source: Solstad   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  A unit of PetroChina Co. Ltd has completed drilling Asia’s deepest vertical oil well, official news agency Xinhua reported on Monday, as China’s top oil and gas firm seeks to meet government goals for greater domestic energy security.   The Pengshen 6 well, located near Mianyang city in China’s southwestern Sichuan province, is 9,026 metres deep, according to the Xinhua report.   China’s national energy companies have started to develop more expensive and technically challenging oil and gas reserves in the Sichuan basin in recent years, as part of Beijing’s drive to strengthen the country’s domestic energy security.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Borr Drilling Limited announced it has been awarded a new contract and two extensions for its premium jack-up drilling rigs "Ran", "Gerd" and "Natt". These awards increase the company’s firm backlog by approximately 625 days, excluding unexercised optional periods.   The premium jack-up drilling rig “Ran” has secured a contract with Fieldwood Energy for work in Mexico. This contract will cover a firm scope of two wells with an estimated duration of 50 days, and one optional well with an estimated duration of 75 days. The firm work has an estimated contract value of $7.5 million, excluding mobilisation and demobilisation. The contract is expected to commence in June 2023, in direct continuation of the rig’s ongoing contact, and is expected to keep the rig contracted until Q4 2023 when it will start its subsequent contract, as previously disclosed by the Company.   The premium jack-up drilling rig “Gerd” had certain priced and unpriced options exercised by Addax, extending the contract by a total period of ten months. This extension is expected to maintain the rig contracted until the end of January 2024 and has an estimated contract value of $40 million. No further options are available under this contract.   Lastly, the premium jack-up drilling rig “Natt” had three well options exercised by ENI, extending he contract by an estimated period of 270 days. This extension is expected to maintain the rig contracted until Q1 2024 and has an estimated contract value of $22.7 million.   Source: Borr Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Transocean Ltd. announced that one of its wholly owned subsidiaries has agreed to make an investment in Global Sea Mineral Resources NV (“GSR”) in exchange for a non-controlling interest in the company. GSR is the deep-sea mineral exploratory division of DEME Group NV and is engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to the growing renewable energy market, and is a leading developer of nodule collection technology.   Transocean has agreed to contribute the stacked Ocean Rig Olympia for GSR’s ongoing exploration work, as well as make a nominal cash investment. In addition, Transocean expects to contribute engineering services on an in-kind basis. GSR intends to convert the Olympia for a system integration test scheduled for 2025 to validate the technical and environmental feasibility of recovering polymetallic nodules in ultra-deepwater on a commercial scale.   The technical challenges associated with the recovery of deep-sea polymetallic nodules offer an opportunity to combine Transocean’s unique ultra-deepwater operating experience with GSR’s proprietary technology in polymetallic nodule collection to deliver a commercially viable nodule recovery enterprise for GSR.   Critical minerals found in deep-sea polymetallic nodules such as cobalt, nickel, copper, manganese, and rare earth metals are essential for many applications, including the production of high-capacity batteries. Many governments and private enterprises are actively developing critical mineral strategies to address the expectation that these metals will be undersupplied for years to come. Responsible recovery of the nodules from the seabed would provide a new and significant source of supply required to support rapidly growing demand.   “GSR has an excellent leasehold position, and we are excited to support its team in the effort to meet global demand for the critical minerals necessary for a lower carbon energy economy,” said Transocean’s Chief Executive Officer, Jeremy Thigpen. “A mixture of all energy sources will be required to meet future global energy demands. Transocean’s work in deep sea minerals is another way we will continue providing essential offshore energy services."   Source: Transocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  TotalEnergies has decided to invest almost 50% of its global exploration budget to Namibia this year as it hopes to confirm a multi-billion barrels discovery on block 2913b within the Orange Basin. CEO Patrick Pouyanné made the announcement during the company’s 2022 Results & 2023 Objectives presentation this week.   The French major will spend $300m on appraising its Venus discovery in the Orange Basin with the mobilization of two drilling rigs and the drilling of several wells.   The Tungsten Explorer is on its way to Namibia where it is expected to start drilling this quarter.   The drillship will start with the Venus-1A appraisal well before moving to drill new exploration wells into the adjacent Block 2912, also operated by TotalEnergies. Drilling on that second block will target the Nara-1 well and a potential Nara-1A appraisal well, which will both include drill stem tests (DSTs).   The second rig, Deepsea Mira, is not expected before the middle of this year and will be mobilized for DSTs operations both at Venus-1A and Venus-1.   “We want to accelerate the time to market (…) if we confirm the volumes discovered, there is room for a fast-track development,” Pouyanné added, explaining that the company could be at the helm of a new golden block that would be “a new chapter of the old business”.   TotalEnergies hopes to replicate the tremendous success it has had on Block 17 offshore Angola, where it was able to start producing only five years after its initial discovery there.   Block 17 is referred to as its “Golden Block” with a total of four floating, production, storage, and offloading (FPSO) vessels commissioned between 2001 and 2014.   Source: Hawilti   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Earlier this week, Petrobras launched a new tender for the charter of up to four drilling rigs. The tender is divided into three non-excluding lots and the opening of the envelopes with the proposals is scheduled, in principle, for the 17th of March. According to the rules of the tender, only the 13 companies pre-qualified for the competition will be able to participate in this bidding process.   The drilling companies eligible for the dispute are: Brasdrill, Constellation, Dolphin, Ensco, Etesco, NE Drilling, Ocyan, Odfjell, Saipem, Seadrill, Stena, Transocean and Ventura. The complete documentation regarding the bidding is available on the Petronect website (nº 7004009573). Both semi-submersible units and drillships will be accepted.   Lot 1 provides for the contracting of up to two high-specification dynamic positioning rigs, capable of operating in water depths of up to 3,048 meters, with MPD (pressure management systems). The mobilization period will be up to 390 days, counted from the signature of the contract. The scheduled start date for services on this lot will be between March and November 2024.   In lot 2, Petrobras will contract a dynamic positioning rig with a high specification, capable of operating in water depths of up to 2,400 meters. Also in this case, the mobilization period is up to 390 days, valid from the signature of the contract. In addition, the scheduled start date for services is the same as for lot 1 (between March and November 2024).   Finally, lot 3 of the tender will have the contracting of a positioning rig, with the capacity to operate in water depths of up to 2,400 meters. The mobilization period will be up to 360 days, counted from the signature of the contract. The scheduled start date for services will be between January and November 2024.   The classification procedure in Lots will be based on the best price per lot, and the priority order for cases in which the same unit is classified in more than one lot will be as follows: Lot 1 (highest priority), Lot 2 and Lot 3 (lowest priority)   Source: PN   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Transocean Ltd. issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.   This quarter’s report includes the following updates: Deepwater Corcovado – Awarded a four-year contract in Brazil at a current rate of $400,000 per day, as adjusted for foreign currency exchange. Deepwater Orion – Awarded a three-year contract in Brazil at current rate of $417,000 per day, as adjusted for foreign currency exchange. Dhirubhai Deepwater KG2 – Awarded a 910-day contract in Brazil at a current rate of $439,000 per day, as adjusted for foreign currency exchange. Deepwater Invictus – Awarded a three-well contract in the U.S. Gulf of Mexico at $425,000 per day. Transocean Barents – Awarded a one-well contract in the U.K. North Sea at $310,000 per day. Transocean Norge – Certain previously disclosed options in Norway have been added to backlog at current dayrates between $414,000 and $424,000 per day, as adjusted for foreign currency exchange. Development Driller III – Customer exercised a one-well option in Suriname at $360,000 per day. Deepwater Asgard – Customer exercised a one-well option in the U.S. Gulf of Mexico at $395,000 per day. Paul B. Loyd Jr. – Customer exercised an eight-well option in the U.K. North Sea at $175,000 per day. The aggregate incremental backlog associated with these fixtures is approximately $1.9 billion. As of February 9, the company’s total backlog is approximately $8.5 billion.   The report can be accessed on the company’s website: www.deepwater.com.   Source: Transocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  U.S. oil producer APA Corp said on Wednesday that it had found oil after drilling Sapakara South-2 (SPS-2) appraisal well in Block 58, offshore Suriname.   Exploration off the South American country’s coast has been watched closely as it is just over the border from massive oil discoveries made by an Exxon Mobil Corp-led consortium in Guyana that are estimated to hold nearly 11 billion barrels of oil equivalent.   The well is located about 4.6 kms south of the Sapakara South-1 (SPS-1) appraisal well, where APA found oil in 2021.   The company had in November wound up drilling operations at the Awari well in Block 58 as it was “deemed noncommercial.”   French energy major TotalEnergies SE operates Block 58, with a 50% working interest, while APA holds the other half.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Shelf Drilling has secured a one-year contract extension for the Rig 141 jack-up rig in direct continuation of its current term with Gemsa Petroleum Company for operations in the Gulf of Suez offshore Egypt. Following this extension, the expected availability of the rig is February 2024. Source: Shelf Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Vår Energi has confirmed the discovery of oil in the operated 7122/8-1S Countach well in PL229 (Goliat), north-west of Hammerfest.    The well is currently drilled to 2 958m measured depth and oil has been encountered in the Realgrunnen and Kobbe formations. A sidetrack is planned to better define the size of the discovery. Extensive data is being collected for further assessment. Updated information about volume estimates will be released in due course.     Vår Energi is the operator with a 65% equity share. Equinor holds the remaining 35%. Source: Vår Energi   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Equinor has made an oil and gas discovery close to the Troll field in the North Sea. This is the seventh discovery in this area since the autumn of 2019.   The name of the discovery is Røver Sør. According to preliminary estimates the size of the discovery is between 17 and 47 million barrels of recoverable oil equivalent, of which the majority is oil.   Equinor is operator of the production licence. The partners are DNO, Wellesley Petroleum and Petoro.   More Here: Equinor   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Archer has signed definitive agreements with Baker Hughes to acquire its coil tubing and pumping ('CT&P') business in the United Kingdom.   The CT&P business includes four complete CT&P packages with supporting equipment, specialized and optimized for the UK market. As part of the transaction, Archer will take over a professional team of 51 employees in the UK, under a Transfer of Undertakings (Protection of Employment) (“TUPE”) process.  Customer contracts related to the CT&P business will follow the transaction.   Closing of the transaction is subject to the UK Competition and Markets Authority’s final approval and completion of the TUPE process.   Dag Skindlo, CEO of Archer:   'We are excited to announce this agreement. The coil tubing and pumping business fits well within our overall strategy to grow our drilling and well services in the UK and to further grow our integrated P&A service offering. Archer has over time developed and invested in both well P&A services and technologies, and we are proud to offer the broadest and the most advanced P&A service offering within the industry. We believe the acquisition will represent an attractive long-term investment with low risk and will be accretive to Archers’ key financial ratios.'   Gary Uddenberg, VP Global Sales and VP Coil Tubing of Archer:   'We look forward to working with a highly experienced and competent coil tubing team in the UK. This business fits into our strategy within brownfield and P&A operations as well as our conveyance portfolio. The UK market remains an important business environment for us and advancing Archer’s product and solution offerings together with the coil tubing business will bring value to our clients’ workover and intervention programs.' Source: Archer   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Petrobras has issued a fresh tender aimed at contracting up to four drilling rigs, as the Brazilian state-controlled oil giant continues to replenish its fleet in an effort to try to secure long-term deals in a heated market with rising dayrates.   The new bidding opportunity takes place as Petrobras chartered a total of seven rigs late last year for a combined cost of more than $3 billion with Transocean, Diamond Offshore, Ocyan and Constellation Oil Services for work offshore Brazil.   Source: Petrobras   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Stena Drilling announced that a contract extension has been signed with bp for the Stena IceMAX. This extension shall see the IceMAX mobilise to the United States Gulf of Mexico in direct continuation of the initial one (1) well programme (estimated 90 days) offshore Newfoundland, for a further scope of two (2) years. Source: Stena Drilling Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for well 25/4-15 in production licence PL 919.   The well will be drilled at location 59° 40' 34.54'' N 2° 12' 22.56'' E by the Scarabeo 8 ultra deepwater 6th generation semi-sub.   Licensees are: Aker BP (Operator) 80%; ConocoPhillips Skandinavia 20%.   Planned spud date is Feb 2023. Source: NPD   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  SLB has completed the acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions.   This combination will improve wellbore quality and reduce drilling risk to unlock even the most remote and complex reservoirs. Integrating three-axis solid state gyro measurements with the latest SLB technological innovations will help ensure tighter trajectory control, reduce data acquisition time and improve the decision-making process - resulting in greater overall drilling efficiency.   'I’m excited for this historic moment that will bring innovative solutions to the SLB Well Construction division and our industry,' said Jesus Lamas, president, Well Construction, SLB. 'The technology-driven acquisition of Gyrodata is aligned with SLB’s strategy to elevate operational performance and improve efficiency for our customers. Combined with our Neuro autonomous solutions, the Gyrodata acquisition will transform drilling technology designs, leveraging downhole and surface automation to drive well construction performance and operations efficiency to new levels.'   Source: SLB   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  1. Noble and Maersk announce executive management team   Noble Corporation and Maersk Drilling announced the executive management team became effective after the closing of the business combination announced on November 10, 2021.   https://riglynx.com/noble-corp-announce-closing-of-merger-with-maersk-drilling     2. New life for stacked Seadrill Sevan rigs   New Fortress Energy bought two of Seadrill’s Sevan rigs, the Sevan Brasil and Sevan Driller, for conversation to gas production units according to TradeWinds.   https://riglynx.com/new-life-for-stacked-seadrill-sevan-rigs     3. ADES enters into agreement with ABAN to buy four jackups   In April Aban Offshore entered into an agreement with ADES Saudi to sell four rigs namely, "Deep Driller 2", "Deep Driller 4", "Deep Driller 5" and "Deep Driller 6".   https://riglynx.com/ades-enters-into-agreement-with-aban-to-buy-four-jackups     4. Eni announce 2.5 billion bbl discovery offshore Ivory Coast   Eni encountered oil with its Baleine East 1X well, the first exploration well in block CI-802 and second discovery on the Baleine structure offshore Côte d’Ivoire. The results have prompted a 25% increase in the oil and gas volumes in place, which were estimated at 2.5 billion bbl of oil and 3.3 Tcf of associated gas.   https://riglynx.com/eni-announce-25-billion-bbl-discovery-offshore-ivory-coast     5. Stena Drilling announces name of newbuild   Stena announced the Stena Evolution as the newest addition to the Stena Drilling fleet. The Stena Evolution is said to be a technologically advanced 7th Generation ultra-deepwater drillship, and demonstrates Stena Drilling’s continued commitment to driving innovation and performance in the ultra-deepwater sector, whilst safeguarding the environment.   https://riglynx.com/stena-drilling-announces-name-of-newbuild     6. ADES purchases the Hakuryu 12   ADES completed the acquisition of the 2015-built PPL Pacific Class 400 Hakuryu-12 (now Admarine 680) from Japan Drilling Company (JDC).   https://riglynx.com/ades-purchases-the-hakuryu-12     7. Transocean lines another rig up for Petrobras   Transocean was said to have signed a new charter contract with Petrobras. The company took the lead in the oil company’s new request for quotation aimed at the international bid to carry out a drilling campaign in the Tayrona area, located offshore Colombia.   https://riglynx.com/transocean-lines-another-rig-up-for-petrobras     8. Noble awarded $420k per day contract from LLOG in GOM   Noble announced their 2nd quarter results and their floater fleet was 100% contracted.   The Noble Faye Kozack was awarded a one-well contract with LLOG for work in the U.S. Gulf of Mexico at a rate of $420,000 per day. The contract included managed pressure drilling services and was expected to commence in late 2022 or early 2023.   https://riglynx.com/noble-awarded-420k-per-day-contract-from-llog-in-gom     9. DS 16 breaks free from moorings and collides with tanker in GOM   The DS-16 collided with Z&G Halcoussis’ supramax bulk carrier Akti in Pascagoula, Mississippi.   The incident occurred near the VT Halter Shipyards and Chevron docks, the US Coast Guard said.   https://riglynx.com/ds-16-breaks-free-from-moorings-and-collides-with-tanker-in-gom     10. Noble scrapping the Clyde Boudreaux   Noble Corp President and CEO Robert Eifler had a brief message during thier Q4 results call about the Clyde Boudreaux:   Lastly, in a challenging Southeast Asia deepwater market, the Noble Clyde Boudreaux concluded its contract with Premier and mobilized to Malaysia. Despite the rig's great operational history, the inconsistent utilization and depressed rate environment prompted them to divest of the asset.   https://riglynx.com/noble-scrapping-the-clyde-boudreaux   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Stena Drilling announced a new Contract with Ithaca Energy (UK) Limited for Mobile Offshore Drilling Unit (MODU) Stena Spey. The operations for Stena Spey in UKCS are due to commence between 1st June 2023 and 1st September 2023 for a firm scope of one (1) well. Source: Stena Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Prosperity FPSO will be the third of four FPSOs Keppel is undertaking for deployment in Guyana.   Keppel Offshore & Marine’s (Keppel O&M) wholly-owned subsidiary Keppel Shipyard is on track to deliver a mega Floating Production Storage and Offloading vessel (FPSO) to SBM Offshore in 1Q 2023. This is the third FPSO that Keppel Shipyard is delivering to SBM Offshore and will be chartered to the consortium of ExxonMobil, CNOOC, and Hess to operate in offshore Guyana.   The vessel was named Prosperity FPSO by Guest of Honour, Her Excellency Mrs Arya Ali, the First Lady of the Co-operative Republic of Guyana at a ceremony held today at Keppel Shipyard.   Mr Chris Ong, CEO of Keppel O&M, said, 'We are pleased to support SBM Offshore and ExxonMobil in contributing to Guyana’s oil and gas industry with a third FPSO for deployment in the Stabroek block. FPSO Prosperity reinforces Keppel O&M’s standing as the world leader in the integration of FPSOs and extends our track record of more than 130 FPSO projects. It also marks our 27th major project for SBM Offshore, building on the strong partnership that we have forged over decades of collaboration.'   Keppel O&M’s scope of work on FPSO Prosperity includes the fabrication of several topside modules, riser, mooring and umbilical structures, followed by the installation and integration of these structures and all topside modules onto the FPSO.    The FPSO, which will be spread moored in water depth of about 1,900 metres, is designed to produce 220,000 barrels of oil per day, with associated gas treatment capacity of 400 million cubic feet per day and water injection capacity of 250,000 barrels per day. The FPSO will be able to store approx. 2 million barrels of crude oil.   Source: Keppel   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Company is pleased to announce that the Private Placement has been successfully placed, and that it has allocated 3,214,806 new shares (the “New Shares”) at a subscription price per New Share of NOK 31.00 (the “Subscription Price”), raising approx. USD 10 million in gross proceeds.   The net proceeds from the Private Placement will be used to cover litigation costs for the ongoing arbitration proceedings relating to claims arising from the termination of resale shipbuilding contracts for the drillships West Aquila and West Libra, and for general corporate purposes.   Notification of allocation and settlement instructions for the Private Placement are expected to be issued by the Manager (as defined below) to applicants on 2 February 2023.   Settlement of the New Shares allocated in the Private Placement is expected to take place on or about 6 February 2023 on delivery versus payment basis by delivery of existing and unencumbered shares in the Company that are already listed on the Oslo Børs pursuant to a share lending agreement (the “Share Lending Agreement”) between the Company, the Manager and Hemen Holding Ltd. (“Hemen”). The Manager will settle the share loan from Hemen with the new shares issued in connection with the Private Placement.   Following issuance of the New Shares, the Company will have an issued share capital of USD 19,347,823 divided into 19,347,823 ordinary shares, each with a nominal value of USD 1.00.   Source: Northern Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Rystad Energy expects the global market for oil and gas contractors to rise to a peak of $1 trillion in 2025 and remain at high levels for several years thereafter. Helped by strong growth in the midstream part of the industry to liquefy, transport, and re-gasify natural gas, overall oil and gas spending will stay above $920 billion annually on average for the 2022-2028 period.   Despite the risk that another downturn cycle in oil and gas may occur after 2025, oilfield service suppliers should be able to balance out the downturn by branching out into other parts of the wider energy market – and in so doing, expanding the overall target market for contractors. The key for suppliers is to continue chasing obvious opportunities within geothermal energy, hydrogen, offshore wind, and carbon capture, utilization and storage.   Together with oilfield services, this expansion into other energy areas could provide a $1 trillion market for suppliers by 2025, which could be sustained for several years after that. Breaking down the various service segments among the oil and gas suppliers reveals that all segments will grow in nominal terms, led by suppliers targeting equipment and materials and those providing operations and maintenance services.   While we expect the next seven years to provide a strong market for energy services, companies still have to improve their economics to make it a feast. Luckily, overall utilization is improving rapidly as suppliers are careful not to overinvest in more capacity as rigs, vessels, plants, and other units in the supply chain are affected by natural wear and tear. The result is better pricing for suppliers – the past 12 months have driven up prices for offshore rigs, land rigs, frac fleets, proppant, OCTG, vessels, and subsea infrastructure to levels not seen in a decade.   'Global oil and gas suppliers look set to echo the biblical story about the Egyptian pharaoh’s dream of seven years of feast and seven years of famine – only in the opposite order. All signs point towards 2022 being the start of another super cycle for the energy services sector', says Audun Martinsen, partner and head of energy service research at Rystad Energy.   Read More Here: Rystad Energy   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Transocean Ltd. announced that the ultra-deepwater drillship, Dhirubhai Deepwater KG2, has been awarded a 910-day contract by a national oil company for work offshore Brazil. The estimated backlog of $392 million excludes a mobilization fee of 90 times the contract dayrate.   The new contract is expected to commence in the third quarter of 2023.   Source: Transocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  TotalEnergies and Eni have completed the transfer to QatarEnergy of a 30% interest in exploration Blocks 4 and 9 off the coast of Lebanon.   The agreements were endorsed in Beirut on January 29, during a ceremony attended by His Excellency Dr. Walid Fayad, the Minister of Energy and Water of Lebanon; His Excellency Mr. Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs and President and CEO of QatarEnergy; Mr. Patrick Pouyanné, Chairman and CEO of TotalEnergies; and Mr. Claudio Descalzi, CEO of Eni.   Pursuant to the terms of the agreements, TotalEnergies (operator) and Eni will each retain a 35% interest in the blocks with QatarEnergy holding the remaining 30%.   'We are very pleased to welcome QatarEnergy in our exploration acreage in Lebanon. The recent delineation of Lebanon’s maritime border with Israel has created a new momentum for the exploration of its hydrocarbon potential. Along with our partners, we are committed to drilling as soon as possible in 2023 an exploration well in Block 9, and our teams are mobilized to conduct these operations', said Patrick Pouyanné, Chairman and CEO of TotalEnergies.   This new partnership further expands the cooperation between TotalEnergies and QatarEnergy in exploration activities, and brings to nine the number of countries where the two companies have partnerships.   Source: TotalEnergies    Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Ocyan signed an operating contract with PRIO (formerly PetroRio) for the use of the West Capricorn rig for 730 days. Activities are expected to start in August 2023. For the execution of this contract, 160 jobs are planned for Ocyan members, all in offshore positions. At the moment, the rig is in Trinidad & Tobago and will have the work to reactivate the asset when it arrives in Brazil. Ocyan has already been operating with the Norbe VI rig for PRIO since July 2021, in a contract in force until August 2023, including the revitalization activities of Campo de Frade and the development of Wahoo, in the Campos Basin. West Capricorn was built in 2011 and is a sixth generation semi-submersible drilling rig. It is suitable both for subsea services and for drilling in water depths from 80 meters to three thousand meters. As a reminder, PRIO announced in June last year that it had acquired the West Capricorn rig from Aquadrrill LLC.   Heitor Gioppo, executive vice-president of Ocyan’s drilling unit, said that the contract is an important milestone because it demonstrates recognition of Ocyan’s technical capacity in the market, which is generating business in the area of operating third-party assets. “Winning this contract also reinforces our company’s strategic position with independent operators in the drilling area, mainly in the domestic market. We can say that our management system has become a benchmark because it is becoming more robust every day. We are going to work with technology transfer at the same time that we put a team with a high degree of specialization into action. We remain attentive to opportunities, including new business in third-party assets in Brazil and abroad”, declared the executive.   Source: PN   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Seadrill Limited and Aquadrill LLC announced that they have entered into a definitive merger agreement under which Seadrill will acquire Aquadrill in an all-stock transaction. Upon completion of the transaction Seadrill shareholders and Aquadrill unitholders will own 62% and 38%, respectively, of the outstanding common shares in the Company. The transaction values Aquadrill at an implied equity value of approximately US$958 million, based on Seadrill’s 30-day volume-weighted average share price on the NYSE of US$31.25 as of 22 December 2022.   The combination creates an industry-leading offshore drilling company, with a modern and high specification fleet and a streamlined cost structure. The Company will be well-placed to realize estimated annual run rate synergies of at least US$70 million. The Company will also be well-positioned for further growth given its stronger credit and liquidity profile, and to provide attractive cash flows.   Commenting on the transaction, Simon Johnson, Seadrill’s President and Chief Executive Officer, said, “At Seadrill we seek to deliver safe and effective operations as the bedrock for generating returns for our shareholders. Seadrill and Aquadrill have a long and rich strategic and operational management history. Our shared heritage will promote efficient integration of the two companies. I look forward to welcoming the Aquadrill fleet back into the Seadrill family.” Steven Newman, Aquadrill’s Chief Executive Officer, said, “We believe this combination will create the most value for our shareholders and will create an excellent platform for high quality service delivery to our customers.”   The transaction has been approved by the Boards of Directors of both Seadrill and Aquadrill.   The required approval of Aquadrill’s unitholders has also been obtained. The transaction does not require Seadrill shareholder approval.   Source: Seadrill   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Baker Hughes Rig Count: U.S. up 3 to 779 rigs U.S. Rig Count is up 3 from last week to 779 with oil rigs up 2 to 622, gas rigs up 1 to 155 and miscellaneous rigs unchanged at 2. U.S. Rig Count is up 193 rigs from last year's count of 586 with oil rigs up 142, gas rigs up 49 and miscellaneous up 2. The U.S. Offshore Rig Count is unchanged at 15, flat year-over-year. Baker Hughes Rig Count: Canada is down 103 to 96 rigs. Canada Rig Count is down 103 from last week to 96, with oil rigs down 92 to 32, gas rigs down 11 to 64. Canada Rig Count is down 37 rigs from last year's count of 133, with oil rigs down 52, gas rigs up 15.   Additional information on the Baker Hughes Rig Count is available on our rig count website at http://bakerhughes.com/rig-count.   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  The Nigerian government has launched bidding for seven deep offshore oil blocks as it calls on investors globally to bid for marked oil blocks.   Recall that in October, Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, during an interview with Bloomberg announced that the government plans to auction deep offshore oil and gas licences for the first time in 15 years.   Komolafe, during a press briefing in Abuja announced that the government has put up the seven deep-water oil blocks for offer, saying that this is the first time a bid for a deep offshore asset is holding after the Petroleum Industry Act (PIA) 2021 and since April 2007 when 45 blocks were offered but under the defunct regulation.   Source: SR   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here    

  Shelf Drilling, Ltd. announced that it has received a three-year contract award for each of the Compact Driller and Key Singapore with Oil and Natural Gas Corporation (ONGC) for operations in the Mumbai High, offshore India. The planned start-up of operations for both contracts is Q2 2023.   Source: Shelf Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  TotalEnergies and Eni have made a new gas discovery at the Zeus-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 and the Cronos-1 discoveries made on the same block respectively in 2018 and August 2022. The Zeus-1 well encountered 105 meters of net gas pay in carbonate reservoirs that re-enforces the promising outlook for the area and its development.   Located 162 km off the Cyprus coast and 5 km West of Cronos-1, Zeus-1 has been safely drilled and successfully tested by the Tungsten Explorer drillship.   “This success at Zeus-1 further enhances the potential of Block 6, only four months after the Cronos-1 discovery”, said Kevin McLachlan, Senior Vice President, Exploration at TotalEnergies. “New data gathered from the well will assist our ongoing assessment of fast-track development options for the discovered resources.”    TotalEnergies holds a 50% interest in Block 6, where Eni is the operator (50%). In Cyprus,   TotalEnergies is also present in offshore Block 11 (50%, operator), 7 (50%, operator), 2 (20%), 3 (30%), 8 (40%) and 9 (20%).   Source: TotalEnergies   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  UK oil and gas producer Serica Energy agreed to buy North Sea peer Tailwind Energy Investments for 644 million pounds ($782 million), including debt, bringing on energy trader Mercuria as its biggest investor as part of the deal.   Serica, whose production operations are centred on the UK North Sea, said it would issue 367 million pounds of new shares, take on Tailwind's net debt of about 277 million pounds and pay 58.7 million pounds in cash upon the deal's completion.   "Through the introduction of Mercuria as a new strategic investor, we will be differentially positioned to take advantage of the opportunities we expect to arise through industry consolidation, the North Sea transition deal and potentially overseas," Serica's Chief Executive Officer Mitch Flegg said. Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  South Korea’s Hanwha Group has signed an agreement to take over Daewoo Shipbuilding & Marine Engineering, Daewoo Shipbuilding.   The deal comes after the two parties signed a tentative agreement in September in which affiliates of Hanwha Group including Hanwha Aerospace Co Ltd said they would invest 2 trillion won ($1.53 billion) in return for a 49.3% stake and management rights in Daewoo shipbuilding.   Hanwha Group, South Korea’s seventh-largest conglomerate with 80 trillion won in assets, spans energy, defence and financial industries.   The takeover deal still needs to be approved by foreign competition regulators, including in the European Union, Japan, China and Singapore, according to the regulatory filing.   Earlier this year, rival Hyundai Heavy Industries’ attempt to take over Daewoo was vetoed by the EU over concerns the deal, which would have created the world’s largest shipbuilder, would hurt competition.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Aquadrill LLC has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling, Inc. to provide the Company’s Vela rig, an MPD outfitted 7th generation drillship, for operations in the US Gulf of Mexico for a 150 day drilling contract with a total expected contract value of approximately $60 million.   The terms of the charter hire agreement are consistent with the current management services agreements in place between the Company and the Manager. Further, the resulting financial benefits for the Company are as if the Company had entered into the drilling contract directly.   Concurrent with extending the charter hire for this new work scope, an agreement to suspend the underlying drilling contract related to the charter hire for the rig running from January to August 2023 has been entered into. This contract will be suspended after the first well and the new 150 day work scope will commence in direct continuation. The rig is expected to return to the initial underlying drilling contract in August 2023 and continue with the remaining firm work plus options if exercised.   Source: Aquadrill   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Ocyan S.A. announced the creation of a new company (DrillCo), which will concentrate its drilling activities with its current five rigs, ODN I, ODN II, Norbe VI, Norbe VIII and Norbe IX – that will form part of the new company’s fleet. The new corporate structure is born in the context of the restructuring of the financial debt of this business unit. Ocyan S.A. will continue, unchanged, with its activities in the area of production, subsea construction, maintenance and offshore services, in addition to a minority stake in the new company. The shareholders of this new company will be formed by the holders of the debt backed by the drilling assets, in addition to Ocyan S.A., and the executive body of the new company.   The new capital structure will allow both companies to improve their respective competitiveness in their respective segments. The debt restructuring of the drilling area takes place through an extrajudicial reorganization (RE), with the obtaining of an agreement with the majority of the holders of the debt securities. The process was filed at the Rio de Janeiro Court of Justice by some of Ocyan’s drilling subsidiaries. Ocyan S.A. it is not part of the extrajudicial recovery, but only its subsidiaries dedicated to this business unit.   The creditors will convert the debt into capital and contribute US$ 197 million for new investments (capex) and other disbursements with the operation. DrillCo will be born with a highly healthy capital and debt structure. Ocyan S.A. will contribute with part of the executive body and the technical efficiency of the current staff in the drilling area to form a new business with recognized operational excellence in the market.   “The recognition of Ocyan’s technical capacity was a determining factor for the future shareholders to decide to maintain the current staff in the future company, as well as part of the executive body, which will migrate to the new company during this transition period. The process will not have any impact on customers, since the rigs’ new contracts are already being signed in the name of this new company, which will continue in the same way with suppliers. Ocyan delivers a solid structure, with market-leading safety and operational indices, an experienced team and all vessels with active contracts for the coming years”, endorses Roberto Bischoff (photo), president of Ocyan.   Ocyan S.A will remain focused on its integrated services business unit, which includes subsea construction and offshore maintenance and services, both with extensive experience and several active contracts worth around R$ 2 billion, in addition to its joint- venture, Altera&Ocyan, created for the charter and operation of production vessels (FPSOs). This last business includes the Pioneiro de Libra (PDL) and the Cidade de Itajaí (CDI), both from its own fleet, and the operation of platforms P-61 and P-63 in the Papa-Terra field of 3R Petroleum.   DrillCo   The constitution of DrillCo is the result of the agreement signed between Ocyan S.A. and a majority group of creditors representing approximately 71% of Bonds 21 and 57% of Bonds 22, after negotiations started in November 2021. The five rigs were financed in the Project Finance model and the debts were settled with the transfer of these assets to new company. The RE process enables the implementation of the private agreement for the other holders of Bonds 21 and 22.   The transfer of resources and assets to the new drilling structure is already underway and should be completed after approval of the RE plan, expected to occur by the third quarter of 2023.   After its homologation in Brazil, the RE plan will be presented in the court of New York under the “Chapter 15” regime of the U.S. Bankruptcy Code, for recognition of effects in the US. DrillCo will undergo a rebranding process in due course.   Source: TN   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Subsea 7 has confirmed the award of three contracts by Aker BP; a major contract for Yggdrasil field development project (formerly NOAKA), a large contract for Skarv Satellite Project and a substantial contract for Valhall PWP-Fenris project, all located offshore Norway. The awards were pre-announced on 8 December 2022 and will be recorded in the backlog of Subsea and Conventional upon signature by all parties, expected to occur later today.   The contract scopes are awarded within the Aker BP subsea4 alliance framework as part of which Subsea7 will provide flowlines, flexible lines and perform the complete installation scope and Aker Solutions will provide subsea production systems and umbilicals. Source: Subsea 7   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Saipem has been awarded new contracts in Guyana and Egypt for a total amount of approx. 1.2 billion USD.   The first contract has been awarded by ExxonMobil Guyana, subject to government approvals, for the UARU oil field development project, located in the Stabroek block offshore Guyana at a water depth of around 2,000 meters. The contract scope includes the design, fabrication and installation of subsea structures, risers, flowlines and umbilicals for a large subsea production facility.  Saipem, who was previously awarded other four subsea contracts by ExxonMobil Guyanafor prior developments in the same area, namely Liza Phase 1 and 2, Payara, and Yellowtail, will perform the operations by using its vessels, including FDS2 and Constellation.   Subject to the necessary government approvals, project sanction by ExxonMobil Guyana and its Stabroek block coventurers and an authorization to proceed with the final phase, the award will allow Saipem to start some limited activities, namely detailed engineering and procurement.   The second contract has been awarded by Petrobel for the transportation, installation and pre-commissioning of 170 km of umbilicals for the Zohr Field, to be transported and installed between the central control platform (70 m water depth) and the subsea field (1,500 m water depth), connecting to the existing subsea production systems. The offshore campaign is planned to start during Q3 2023.   Source: Saipem   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Valaris Limited announced new contracts and contract extensions, with expected associated contract backlog to Valaris of approximately $275 million, awarded subsequent to issuing the Company’s most recent fleet status report on October 31, 2022. Contract backlog excludes lump sum payments such as mobilization fees and capital reimbursements.   Valaris Contracts   As previously announced on November 21, 2022, we were awarded a four-well contract with BP offshore Egypt for drillship VALARIS DS-12. The contract is expected to commence late in third quarter or early in fourth quarter 2023 and has an estimated duration of 320 days. The estimated total contract value, inclusive of a mobilization fee, is $136 million.   90-day contract with Kistos in the Dutch North Sea for heavy duty harsh environment jackup VALARIS 123. The contract commenced in November 2022. VALARIS 123 will utilize its selective catalytic reduction (SCR) system during the contract with Kistos to significantly reduce NOx emissions from the rig.   195-day contract with ONE-Dyas in the Dutch North Sea for heavy duty harsh environment jackup VALARIS 123. The contract is expected to commence in first quarter 2023 in direct continuation of the rig’s current contract. VALARIS 123 will utilize its selective catalytic reduction (SCR) system during the contract with ONE-Dyas to significantly reduce NOx emissions from the rig.   210-day contract with Shell in the UK North Sea for heavy duty harsh environment jackup VALARIS 121. The contract is expected to commence early in fourth quarter 2023. The expected total contract value is over $25 million. The contract has four priced options.   180-day contract with Perenco in the UK North Sea for heavy duty ultra-harsh environment jackup VALARIS 247. The contract is expected to commence in first quarter 2023. The contract has one 60-day option.   90-day option exercised by Cantium in the U.S. Gulf of Mexico for standard duty modern jackup VALARIS 144. The option period is expected to commence in March 2023 in direct continuation of the existing contract. The operating day rate for the option period is $85,000.   ARO Drilling Contracts   Three-year contract extension offshore Saudi Arabia for standard duty modern jackup VALARIS 147. The extension period is expected to commence in December 2022 in direct continuation of the existing contract. In accordance with the terms of our shareholder agreement, Valaris will bareboat charter VALARIS 147 to ARO. The expected revenue from such bareboat charter is included in the $275 million of additional Valaris backlog discussed above.   Three-year contract extension offshore Saudi Arabia for standard duty modern jackup VALARIS 148. The extension period is expected to commence in February 2023 in direct continuation of the existing contract. In accordance with the terms of our shareholder agreement, Valaris will bareboat charter VALARIS 148 to ARO. The expected revenue from such bareboat charter is included in the $275 million of additional Valaris backlog discussed above. Source: Valaris   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Noble has been awarded a contract from BP to provision the ultra-harsh environment jackup rig Noble Innovator for drilling and plugging and abandonment services in the UK sector of the North Sea. The contract is expected to commence in May 2023, with a firm duration of one year. The firm contract value is approximately $50 million. The contract contains a one-year option with a potential contract value of approximately $58 million. “We are grateful for BP entrusting us with this campaign and the opportunity it presents to continue building our relationship,” says Blake Denton, SVP of Marketing & Contracts, Noble. The Noble Innovator is currently operating in the UK North Sea. Following the completion of its current contract, the rig is scheduled to undergo a special periodic survey before commencing the contract with BP. Source: Noble Corp   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Odfjell Drilling has announced that, on behalf of CIMC Offshore, the Company has agreed to extend the contract with Neptune Energy Norge for the use of the drilling rig Deepsea Yantai to drill two further firm wells in Norway.   The scope of the work is estimated to take 60 days and is scheduled to commence in direct continuation of the two wells contracted with Neptune Energy Norge, as noted in the Company’s announcement on 11 October 2022.   As a result of the signing of this extension, the backlog for the Deepsea Yantai is expected to now be pushed back to the start of Q2 2024.   Source: Odfjell Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Solstad Offshore has announced that its PSVs Normand Naley and Sea Frost have been awarded five-year contracts by Equinor UK.   Both contracts will run for five years from January 2023. The contracts include options for further extensions.   The Sea Frost, which has been on contract with Equinor since 2017, will be upgraded with a battery-hybrid system and shore power as part of the contract. The Normand Naley is already equipped with a battery-hybrid system and shore power.   'We have supported Equinor’s UK operations since 2016 and are proud to agree these new long-term contracts. With these contract awards, Solstad Offshore has three PSVs installed with battery-hybrid systems and shore power operating in the UK sector on a long-term basis. The three vessels, equal to approximately 15 percent of our UK fleet, will help reduce both fuel consumption, emissions and operating expenditure,' says Kenneth Lande, EVP and head of global AHTS & PSV segment at Solstad Offshore. Source: Solstad   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Transocean has announced awards for its ultra-deepwater drillships, Deepwater Corcovado and Deepwater Orion, for work offshore Brazil with a national oil company.   Together the two contracts represent approx. $1.04 billion in firm backlog.   Deepwater Corcovado was awarded a four-year contract, which contributes an estimated $583 million in backlog and is expected to begin in the third quarter of 2023 in direct continuation of the rig’s current contract.   Deepwater Orion was awarded a three-year contract, which contributes an estimated $456 million in backlog and is expected to commence during the fourth quarter of 2023.   Source: Transocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Prosafe has signed a contract with Petrobras for the provision of the Safe Zephyrus semi-submersible vessel for safety and maintenance support offshore Brazil.   The contract has a firm period commitment of 650 days and an early commencement date of 1 May 2023 has been agreed. The contract value is approx. USD 73 million (equivalent to USD 112,500 per day).   The Safe Zephyrus is one of the world’s most advanced and versatile accommodation vessels, complying with stringent rules in both UK and Norway and with a strong focus on reducing emissions by optimising the engine load. The Safe Zephyrus will commence mobilisation to Brazil soon after conclusion of her current contract in the North Sea mid-December 2022. Certain contract and regulatory compliance scopes will be performed en-route to ensure an efficient contract commencement.   Jesper Kragh Andresen, CEO of Prosafe says: 'With both the Safe Notos and Safe Eurus operating on long term contracts with Petrobras, there are clear synergies when introducing the Safe Zephyrus into Brazil. Prosafe very much looks forward to continuing our long standing relationship with Petrobras, in a region where both rates and demand are increasing.'   Source: Prosafe   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Shelf Drilling has secured a three-year contract for the Shelf Drilling Resourceful and a two-year contract for the Key Manhattan with Eni for operations in the Adriatic Sea offshore Italy. Both contracts include multiple additional option periods, and the planned start-up of operations is Q2 2023 and Q4 2023 for the Shelf Drilling Resourceful and the Key Manhattan, respectively.   David Mullen, Chief Executive Officer, Shelf Drilling, said:   'We are very pleased to build on our long-standing business partnership with Eni and expand our activity in the Adriatic Sea with these two contract awards. The Shelf Drilling Resourceful will work alongside the Key Manhattan rig which has delivered exceptional safety and operating performance to Eni since activity commencement in 2010. We believe that our unique operating platform and best in class safety and operating performance strongly positions us to reap the benefits of an improving macro environment.'   Source: Shelf Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Constellation announced a new contract for the Brava Star via social media   It is with great pleasure that we have communicated the signing of a new contract for our Brava Star drillship. With this achievement, we guarantee all our rigs contracted and operating during the year 2023. In this way, Constellation confirms its leading position in the Brazilian offshore drilling market.   This operation also represents the continuity of Constellation and Brava Star's work with Petrobras and reinforces our partnership with this important client.   Source: Constellation   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Northern Ocean Ltd. (“Northern Ocean” or the “Company”) is pleased to announce a contract award for Deepsea Mira with a subsidiary of TotalEnergies SE for work outside of the Norwegian Continental Shelf on a multi country drilling program, initially commencing in West Africa. The contract is expected to commence in the middle of the 2nd Quarter 2023 and has an estimated firm duration of 300 days plus one 180-day option plus one 90-day option. The contract adds approximately USD 135 million of firm revenue backlog to the Company (excluding bonus, options and de-mobilization). The rig’s operations manager, Odfjell Drilling Ltd, has begun reactivation activities and mobilization preparation to meet the contract expectations safely and efficiently.   To fund the reactivation costs, working capital and other general corporate purposes, the Company has retained Fearnley Securities AS, DNB Markets, a part of DNB Bank AS, Danske Bank Norwegian Branch and Pareto Securities AS as Joint Lead Bookrunners (the “Managers”) to advise on and effect a private placement (the “Private Placement”) of new shares, with the intention to raise gross proceeds of approx. USD 45 million. The subscription price for the new shares will be determined by the Company’s Board of Directors (the “Board”) based on an accelerated book building process.   Scott McReaken (CEO of Northern Ocean) commented:   “This contract award from TotalEnergies marks a new beginning for the Company. We have now secured full employment of our fleet while adding over USD 250 million in backlog since August. The Deepsea Bollsta has safely mobilized on time in Namibia, and we are excited to repeat a transit to West Africa with the Deepsea Mira for Total. Together with our manager, Odfjell Drilling, we continue to build a position of strength in this recovering offshore drilling market."   Source: Northern Ocean   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Oil and gas company Perenco has said it has discovered oil in the Tchibeli North East pre-salt Vandji exploration prospect on the Perenco-operated PNGF Sud license, offshore Congo.   Perenco said that good oil and gas shows were recorded on entry into the reservoir, and a 75-meter oil column was interpreted on logs.    “A test of these zones produced at 2,000 bopd, followed by other analysis necessary to help confirm volumes,” Perenco said. The name of the offshore well is TCHNEM1-01.   “This exploration discovery is a potential ‘play opener’ for Perenco in the pre-salt in Congo, with a number of other Vandji leads identified on our acreage,” Perenco said. Source: Perenco   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here    

  Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted.   Neptune produces around 130,000 barrels of oil equivalent per day (boed), three-quarters of which is gas. It has operations in Norway - home to Eni's Var unit - Britain, Indonesia - where Neptune shares licences with Eni - Algeria, the Netherlands and elsewhere. Neptune is owned by China Investment Corporation (CIC), the Carlyle Group and CVC Capital Partners.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Norway will not issue licences for energy companies to explore for oil and gas in frontier areas during the life of the current parliament, which ends in 2025, its oil and energy minister told Reuters.   The decision to postpone the so-called 26th licensing round was part of the minority government's budget deal with the opposition Socialist Left Party (SV), Terje Aasland said in an interview.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  ARO Drilling announced via social media that they secured 3 year contract extensions with Saudi Aramco for Rig BB 84 commencing December 2022 and Rig ED 85 commencing in February 2023.   Both jackups are bareboat charted to ARO Drilling from Valaris Source: ARO Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Saipem has exercised its purchase option concerning the seventh-generation Santorini drillship, which is already operating within the Saipem fleet by way of a long-term charter agreement signed with Samsung Heavy Industries in 2021.   The exercise price of the purchase option is 230 million USD, to be paid by the end of 2022.   The Santorini, whose construction was completed in 2021, is a technologically advanced vessel, equipped with two seven-cavity Blow Out Preventers (BOP), the highest standard for ultra-deepwater drillships, state-of-the-art operations automation systems, and the latest solutions to optimise environmental impact.   The vessel is currently in operation in the United States (Gulf of Mexico) for the execution of a contract with Eni expiring in the third quarter of 2023.   After the Saipem 10000 and Saipem 12000, the fruitful collaboration with Samsung Heavy Industries is once again reaffirmed.   The investment decision is based on an expected return on investment (IRR) of over 15%, with a payback period of five years, estimated on the basis of the existing contract (covering most of the next financial year) and the Santorini's commercial prospects.   Source: Saipem   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Perenco UK has signed a contract for a campaign of drilling operations using the Valaris 247 jack-up rig, the company announced on Monday.   This rig will drill a minimum of three new drains within the existing Ravenspurn gas fields in the Southern North Sea.  The rig is scheduled to move onto location in January 2023 in preparation for drilling and completion activities, which are expected to take around 180 days.   Valaris 247, formerly known as Gorilla V, is an Enhanced Super Gorilla Class rig built by LeTourneau Industries, Mississippi in 1998.  It is designed and outfitted to operate in water depths of up to 400 ft (122 m) and can drill to depths of 35,000 ft (10,668 m).   The rig will drill three challenging deviated wells, starting with a Ravenspurn North side-track.  All three wells will produce through existing Perenco-operated facilities (offshore platforms and pipelines) into Perenco UK’s Dimlington Terminal on the east coast of England, enhancing the UK’s home-grown gas supply and reducing the country’s reliance on imports.   “These activities are consistent with Perenco UK’s commitment as a safe and responsible operator to the North Sea Transition Deal, supporting energy security compatible with Net Zero targets,” Jonathan White, Perenco UK’s general manager, said. Source: World Oil   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Managed by CIMC’s Asset Management Company, the two 400ft drilling jack ups named Gulf Driller VI and Gulf Driller VIII have been awarded with another 3-years contract extensions providing services to the end Client, PEMEX.   “We are delighted to continue our services in Mexico with Gulf Driller VI and Gulf Driller VIII which are known for their high efficiencies and reliabilities. We are also proud to be able to continuously add values to our clients, partners and investors throughout the years. We shall establish more market shares with our proven reliable products, professional services and being competitive internationally,” said by a Senior Manager of CIMC’s Asset Management Company. Source: CIMC   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Shelf Drilling, Ltd. announced that it has secured an extension on the Shelf Drilling Tenacious jack-up rig in direct continuation of its current contract for drilling operations offshore Angola until November 2023. The contract includes an additional one-year option. Source: Shelf Drilling   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here