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Mix of good stories this week, seems the theme is deal making with Transocean, Noble and QGEP signing on the dotted lines in a few places. The jackup that was purchased by Noble wasn’t a huge surprise but as they have some older assets they will be looking to phase those out and these models are ripe for the picking.
The scandal with Saipem and ENI has come to a close finally, keep your hands out of the cookie jar… The never-ending pipeline saga is back in the news this week, seems like it is in the news every week, they are feeling the pain there.
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So here we go, we start off with Transocean’s recent deals spurring conversations of deepwater stability coming !
Earlier this month, Transocean announced that it planned to acquire offshore drilling contractor Ocean Rig in a cash-and-stock deal valued at about $2.7 billion, as it looks to strengthen its ultra-deepwater fleet ahead of an anticipated recovery in the offshore drilling markets. The deal, which is subject to the approval of shareholders of both companies, comes just about nine months after the company completed its takeover of Songa Offshore, significantly adding to its fleet of harsh environment rigs. Below, we take a look at some of the trends driving the deal and what it could mean for Transocean (story continues here)
Brazil’s QGEP Participações S.A (QGEP) has hired the drillship Laguna Star to drill a third well of the Atlanta field’s Early Production System (EPS) located offshore Brazil.
Queiroz Galvão Exploração e Produção S.A., QGEP’s wholly-owned subsidiary, entered into chartering and drilling services contracts with Podocarpus C.V. e Serviços de Petróleo Constellation S.A., respectively, on September 7, 2018 (story continues here)
The Energy Department says a lack of pipelines is beginning to drive oil companies out of the big shale region known as the Permian Basin, as they focus investment in regions where the oil is easier to get to market.
The Energy Information Administration released its latest weekly oil analysis on Wednesday, focused on the lack of pipeline “takeaway capacity,†which translates to there being plenty of oil, but not enough ways to move it to refiners or export terminals. The report highlights the case for more spending on pipes and for easing or expediting permitting decisions (story continues here)
A court has found Italian oil services group Saipem and a former CEO guilty of corruption in a long-running trial over bribes in Algeria, but it acquitted oil major Eni.
In a court ruling on Wednesday, Milan judges sentenced one-time Saipem CEO Pietro Tali to four years and nine months in prison and seized 197.9 million euros ($231 million) from Saipem. The company was also fined 400,000 euros (story continues here)
The newbuild jack-up, to be named the Noble Johnny Whitstine, was built at the PaxOcean Graha shipyard in Batam, Indonesia.
The rig design for moderate environments allows for operations in water depths of up to 375 feet and well depths of 30,000 feet.
Noble said on Friday that it paid $33.75 million of the $93.75 million purchase price in cash, with the remainder of the purchase price, or $60 million seller-financed at a 4.25% interest rate paid in cash and 1.25% paid in kind over the term of the financing (story continues here)
Alright, that’s this week wrapped up!
From all of us here at OutPut- Have a great weekend and stay safe!
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Saipem exploring drilling division sell off Saipem SpA is considering a roughly 4 billion euro ($4.5 billion) restructuring package that could include a cash injection and asset sales. Read More Transocean lines another rig up for Petrobras Transocean to sign 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. Read More Seadrill emerges from bankruptcy after more than a year of restructuring Seadrill 2021 Limited has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization. Read More Chevron looks to sell off EG stakes for USD $1 billion Chevron is looking to sell its stakes in three oil and gas fields in Equatorial Guinea, hoping a recent rally in energy prices will help attract buyers. Read More Valaris fleet status update is out, multiple contracts awarded Valaris published a fleet status update and here are the highlights that have not been previously announced. Read More Visit Relynx Media Oil Prices Feb 28, 2022 WTI $95.84 Brent $98.02 Natural Gas $4.47 Rig Count U.S. & Canada - February 11, 2022 International - February 4, 2022 International Rigs ( +7 ) 841 U.S. Rigs ( +5 ) 650 Canada Rigs ( +4 ) 224 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 updates on the Deepwater Titan Transocean recently announced that the drydocking for the 8th generation Deepwater Titan has been completed in Singapore at the Sembcorp facilities. It will soon be heading into its next phase moving out to sea. Read More Sack full of new contracts announced in Borr's Q4 results Borr Drilling issued its Q4 2021 presentation and we have the highlights right here. Read More Noble Corp issues Q4 results, currently sitting on $1.2 billion backlog Noble Corp issued their Q4 results and we have the highlights right here. Read More Noble scrapping the Clyde Boudreaux Noble Corp President and CEO Robert Eifler had a brief message during the Q4 results call about the Clyde Boudreaux. Read More Fox Petroleum Group soaring the skies with new Investment in Aviation Fox Rubicon Capital Partners signed a monumental global agreement for USD 1.5 Billion on a 9 year term for the aviation and aeronautics sector. Read More Visit Fox Oil Prices Feb 20, 2022 WTI $92.00 Brent $93.64 Natural Gas $4.43 Rig Count U.S. & Canada - February 11, 2022 International - February 4, 2022 International Rigs ( +7 ) 841 U.S. Rigs ( +10 ) 645 Canada Rigs ( +1 ) 220 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
39 year old semi Olinda Star awarded 16 month contract Constellation secured a new charter contract for the 39-year-old semi the Olinda Star. The Brazilian group closed a deal with ONGC, guaranteeing 16 months of chartering, after presenting a best price in the bidding conducted by the oil company. Read More Aban sells Deep Driller 1 to ADES for $12 million Aban Offshore has approved the sale of Rig Deep Driller 1 owned by their subsidiary Deep Drilling 1 Pte Ltd subject to the approval of Shareholders. Read More Sparrows awarded 3 year contract with Serica Energy Sparrows Group announced a contract award from Serica Energy for crane operations and maintenance services on North Sea platform, Bruce. Read More Visit Relynx Media Shell to use Enhanced Drilling's Closed Riser CML services in deepwater GOM Enhanced Drilling (EDR) has recently received an order from Shell Offshore Inc. to supply a second EC-Drill® Controlled Mud Level (CML) system to be used in the Gulf of Mexico (GOM). Read More Aker Solutions signs 3 year extension with Equinor The contract provides work for Aker Solutions' operations in Trondheim, Bergen and Stavanger in particular, and will be managed from the company’s offices in Trondheim. Read More Oil Prices Feb 14, 2022 WTI $93.55 Brent $94.43 Natural Gas $3.94 Rig Count U.S. & Canada - February 11, 2022 International - February 4, 2022 International Rigs ( +7 ) 841 U.S. Rigs ( +22 ) 635 Canada Rigs ( +1 ) 219 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
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