QatarEnergy farms in with Shell offshore Mauritania

  Q4 2022 Highlights   Seadrill relisted its common shares on the New York Stock Exchange (“NYSE”) with trading commencing on October 14, 2022, and following the NYSE relisting Seadrill’s status on the Euronext Expand changed from a primary listing to a secondary listing. Subsequently, Seadrill uplisted to the main list of the Oslo Stock Exchange with trading commencing on November 17, 2022. Seadrill added approximately $187 million of Order Backlog during the quarter, bringing the total as of December 31, 2022 to approximately $2.3 billion. Total Adjusted EBITDA for the full year of 2022 was $265 million, at the top end of Seadrill's 2022 financial guidance range. Operating revenues decreased by 15% to $228 million in Q4 2022 largely due to fewer rig operating days overall across the fleet. Total Adjusted EBITDA was $41 million in Q4 2022 in line with expectations and previous guidance, but lower than prior quarters primarily as a result of: (i) idle time for the West Tellus, which completed upgrades for its upcoming long-term campaign with Petrobras that commenced in early January 2023; (ii) fewer rig operating days for the West Hercules, which concluded its operations in Canada and subsequently demobilized to Norway; and (iii) not benefiting from a full quarter of operating results with respect to the rigs sold under the Jackup Sale. Consistent operational performance in Q4 2022, resulting in 95% technical utilization. Seadrill completed the sale of the legal entities that own and operate seven jackup rigs (AOD I, AOD II, AOD III, West Callisto, West Ariel, West Cressida and West Leda) in the Kingdom of Saudi Arabia on October 18, 2022 (the "Jackup Sale"). The Jackup Sale triggered a mandatory payment of $204 million (inclusive of principal, accrued interest and exit fee) under Seadrill’s secured second lien debt facility (the "Second Lien Facility"). On November 14, 2022, Seadrill made a voluntary payment of $269 million (inclusive of principal, accrued interest and exit fee) under the Second Lien Facility. Cash and cash equivalents, which excludes restricted cash, as at December 31, 2022 was $480 million. The increase was primarily driven by proceeds from the Jackup Sale, partly offset by debt payments made under the Second Lien Facility. In addition, restricted cash as at December 31, 2022 was $118 million. On December 22, 2022, Seadrill entered into a definitive agreement to acquire Aquadrill LLC (formerly Seadrill Partners LLC) in an all-stock transaction.   Simon Johnson, President & CEO, commented:   “2022 was an extraordinary year of transformation for Seadrill that began with our successful emergence from restructuring in February. We later completed the sale of our seven jackups in the Kingdom of Saudi Arabia which enabled us to reshape our capital structure through substantial debt prepayments. To conclude the year, we announced the return of Aquadrill to the Seadrill family. This transaction completed on April 3, 2023, and coupled with our other strategic initiatives over the course of 2022, we believe we have a solid platform for growth and enhanced performance in the future that will deliver value to our shareholders. We continued our excellent operational performance in 2022 and in turn delivered strong financial performance within our 2022 guidance.   The management team and I would like to thank both our onshore and offshore employees for their continued efforts throughout the year. Our strong operational record and continued commercial success is down to our staff, whose hard work has been instrumental in driving Seadrill’s development. As the industry continues its realignment, we look forward to continuing to play an active role through 2023."   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  

  The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for well 6405/7-2 S in PL 1005.   The well will be drilled at location 64° 15' 59.41'' N 5° 15' 36.99'' E by the Scarabeo 8 semi-sub.   Licensees are: Aker BP 40%; Vår Energi 40%; Norske Shell 20%.   Planned spud date is June 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  

  Despite efforts to accelerate the clean energy transition, many countries in Latin America and the Caribbean are pushing ahead with plans to offer drilling rights for new oil and gas acreage.    Here is a look at the latest developments:   Brazil   Hydrocarbons agency ANP is currently discussing the possibility of unifying the different E&P bidding round regimes (open acreage, concession and production sharing), but only after the public consultation on this subject (scheduled to be concluded in mid-April) will there be a definition of this year’s calendar.    The areas included in the open acreage program are always available, but the realization of the public bidding session depends on a previous expression of interest by oil companies.    The realization of concession and production sharing rounds depends on a decision from the national energy policy council (CNPE/MME).   The usual calendar (except during the pandemic) included one open acreage round, one concession and one production sharing round.    The ruling Workers Party is not likely to offer rights for strategic, pre-salt areas (mostly production sharing system) on a regular basis, unless federal oil firm Petrobras is interested in acquiring them.   The largest hiatus of bidding rounds happened during the Workers Party administrations between 2007 and 2012, when Petrobras was too busy exploring and developing the huge pre-salt discoveries made in the 2000s, such as Tupi, Sapinhoá and Búzios.   Argentina   Neuquén province holds two exploration rounds a year. The process is led by provincial hydrocarbons firm GyP, which participates as a minority stakeholder in the blocks offered.   The first process of the year is underway and details of the second round should be published next half.    Some other provinces also conduct bidding rounds, but they seem to be on an ad hoc basis and are usually much smaller than those in Neuquén.    Colombia   President Gustavo Petro said upon taking office last August that there would be no new auctions for exploration blocks. However, officials have since said this decision could be reversed.    According to finance minister José Antonio Ocampo, a final decision will be made in May after the publication of data on Colombia’s oil and gas reserves.    Peru   Peru could also offer opportunities for blocks whose contracts will expire in the near term, but a lot will depend on the participation of national oil company Petroperú.   Barbados   Barbados plans to launch the licensing round for offshore acreage in April, according to Prime Minister Mia Mottley.   The process was due to begin in December but was postponed after companies requested additional time to evaluate acreage and data, and the need to complete amendments to the legislative and licensing framework.   Ecuador   According to the mines and energy ministry, 13 companies participated in the information and data session for the Intracampos II oil round.   Guyana   Guyana launched its first licensing round for offshore oil and gas exploration and production in December. It comprises 14 shallow water and deepwater areas.   Suriname   Companies have until April 28 to access the virtual data room for Suriname's 2022-23 Demerara bid round.   Trinidad & Tobago   The energy ministry plans to launch the competitive bid round for shallow water acreage in the coming weeks. The government opened nominations for 23 shallow water blocks last year.   Paraguay   Undeterred by lackluster results from previous calls, state oil company Petropar launched its latest open round for upstream hydrocarbons acreage last year.    The process is for blocks Petropar II (6,340km2), Petropar IV (8,006km2) and Petropar V (7,954km2), which drew no bids the last time the areas were offered in 2020, following failed rounds in 2017 and 2018.   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