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(Reuters) U.S. oilfield technology firm Baker Hughes beat third-quarter profit estimates on Wednesday, driven by strong demand for its services and equipment in international markets. Energy firms booked record profits last year following a spike in commodity prices and have looked to invest these to boost production and find new deposits. The move benefited companies... Continue Reading →
(OM) Westwood Global Energy Group expects longer durations for offshore drilling rigs over the next year as rig availability continues to tighten. According to Teresa Wilkie, director of Westwood’s RigLogix service, 10-year tenders have been issued for two drillships for campaigns starting in early 2025. Marketed use of sixth to eighth generation assets is already at... Continue Reading →
(Reuters) - Halliburton (HAL.N) reported a 32% rise in third-quarter profit on Tuesday as higher international drilling and equipment demand helped overcome weakness in North America. Oil and gas companies, who rely on service providers for drilling, well construction and completion services, are reinvesting record profits from the market disruption caused by Russia's invasion of Ukraine to... Continue Reading →
French company TotalEnergies made its second hydrocarbon discovery in block C-M-541, located in the pre-salt of the Santos Basin. The oil company informed the National Petroleum Agency (ANP) that it found signs of natural gas in well 1-TOT-3-RJS, in a water depth of 3,022 meters. To remember, TotalEnergies had already found oil and gas in... Continue Reading →
(OE) Deepwater drilling contractor Transocean shared Thursday its quarterly offshore rig fleet status report, in which it said it had secured $745 million worth of drilling contracts. During the period, the company secured contracts for three drillships: Dhirubhai Deepwater KG1, Deepwater Aquila, and Deepwater Invictus. First, the Dhirubhai Deepwater KG1 drillship was awarded a 60-day extension in... Continue Reading →
(OEE) Portuguese oil and gas company Galp is gearing up to start drilling a well in an offshore block in Namibia, near the giant oil discoveries made recently by TotalEnergies and Shell. In May, Galp entered into a contract with SFL Corporation for the semi-submersible rig Hercules. The 115-day contract, prior to any extension option exercise, is... Continue Reading →
(OET) Brazilian state-owned oil and gas giant Petrobras has awarded compatriot offshore oil and gas services provider Ocyan with a contract to carry out the revitalization of a network of gas pipelines in the Campos Basin. The contract, valued at approximately $317.49 million, is expected to last four and a half years and will revamp the... Continue Reading →
(Reuters) - Brazil's state-run oil company Petrobras (PETR4.SA) expects to do exploratory drilling next year near the mouth of the Amazon River, along the coast of the state of Amapa, Chief Executive Jean Paul Prates said. The region is part of Brazil's Equatorial Margin, an area that Petrobras considers its most promising new frontier for oil and... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it received, on Monday (10/02/2023), confirmation of the environmental license from Ibama to drill two exploratory wells in the maritime block BM-POT-17, in deep waters of the Potiguar Basin, on the Brazilian Equatorial Margin. The first well will be drilled 52 km off the coast. Drilling is scheduled... Continue Reading →
(AB) The Ministry of Mines and Energy (MME) reported that the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama) granted an environmental license for Petrobras to drill wells in the Potiguar Basin segment, off the coast of Rio Grande do Norte, on the Equatorial Margin. The license would refer to the research activity... Continue Reading →
Brazil Energy Insight 