Transocean awarded 9 well P & A for the Discoverer Inspiration
Transocean's Discoverer Inspiration has signed with Hess Corp. for a 9-well P&A campaign in the US GoM. The contract is expected to commence in Q4 2021 and will take approximately 240 days.
Wolford steps in to lead Diamond Offshore
Diamond Offshore Drilling, Inc. announced that Bernie G. Wolford Jr. has been named the Company's President and Chief Executive Officer and will also serve on the Board of Directors. Mr. Wolford succeeds Marc Edwards, who retired from the Company as Chairman, President and Chief Executive Officer on April 23, 2021 when the Company and its debtor affiliates emerged from their chapter 11 financial restructuring.
Oil Majors could see proven reserves run out in less than 15 years as output is not replaced by discoveries
The proven oil and gas reserves of the group of major companies are falling at an alarming rate, as produced volumes are not being fully replaced with new discoveries. A Rystad Energy analysis shows that Big Oil lost 15% of its stock levels in the ground last year.
Seadrill JV Sonodrill awarded 12 well contract for the Quenguela
Sonadrill has secured a twelve well contract with one option for nine wells and eleven one well options in Angola for the Sonangol Quenguela drillship. Total contract value for the firm portion of the contract is expected to be approximately $131 million
SDPL bags 4 well deal for the West Capella
Seadrill Partners LLC has secured a four well contract plus an option for up to seven additional wells for the West Capella in Malaysia. Total Contract Value for the firm portion of the contract is expected to be approximately $43 million.
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Special Episode: Exxon and Engine No. 1
With all the media buzz about Exxon and Engine No. 1 we put together a white paper and special episode of Overtime to engage thought about what the impact of green energy and renewables will be on some other less fortunate countries in the world.
For the record we are pro-oil and gas, not pro-ExxonMobil, we neither support nor disfavor the changes that Engine No. 1 are suggesting to Exxon’s board, we are simply putting together context so that our readers can understand what a move like this would put into play for the largest oil and gas company in the world. The changes could be far reaching and cost countries that are in the Paris Accord billions if not trillions of dollars to support to energy transition in less fortunate countries.
Our take on this is that if we want to push for energy transition then we should start in countries that could immediately benefit from it first.
Download the white paper here on google drive:
Overtime Ep 18
-Oil Prices -Hacked Pipeline -International Market Recovery -Naga 7 Punch Through -NFL Don't Pay Short Term Disability -Kyrie Irving Does Not Talk to Pawns -UFC 262 -BKFC 17 & 18 -Get Paid to Take Naps
West Africa Weekly Ep 11
-Oil Prices -Shell Signals Exit from Upstream Activities in Tunisia -ReconAfrica Spuds Second Well in Kavango Basin, Namibia -Petrofac Secures Contract for BP Project in Mauritania and Senegal -Frontier Resources Makes Find Offshore Namibia
Oil Prices
May 17, 2021
|
WTI $66.35 |
|
Brent $69.54 |
|
Natural Gas $2.96 |
Rig Count
U.S. & Canada – May 14, 2021
International – May 7, 2021
|
International Rigs ( -20) 695 |
|
U.S. Rigs ( +5 ) 453 |
|
Canada Rigs ( +4 ) 59 |
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