Brought to you by Quest Offshore & Southern Cone Consultants
(PetroNoticia) A surprise in the list of companies pre-qualified for the bidding of the P-80 platform, which will be installed in the Búzios field, in the Santos Basin pre-salt. The Japanese company Modec is one of the 13 pre-qualified companies and may eventually prepare proposals for the event, even after being banned by Petrobras from... Continue Reading →
Seadrill Ltd on Wednesday reached a tentative deal that will allow it to continue using lender cash to fund operations while it works with creditors on a path out of bankruptcy. During a virtual hearing, U.S. Bankruptcy Judge David Jones, sitting in his Laredo, Texas courtroom, said he would extend Seadrill’s access to cash until... Continue Reading →
( OE) Offshore drilling contractor Noble Corp. has reportedly submitted a bid to acquire some assets of rival Seadrill. This is according to Reorg, a website providing credit intelligence, data, and analytics for hedge funds, asset managers, investment banks, law firms, and financial advisors. In a brief article (paywall) published Wednesday, Reorg, citing unnamed sources, said that... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras following up on the release disclosed on April 29, 2021, in relation to the request to call an Extraordinary General Meeting to reconstitute the Board of Directors, in view of the resignation of Mr. Marcelo Gasparino da Silva announced on April 16, 2021, informs that the company's Board of Directors, by... Continue Reading →
(Offshore Energy) Just like its rival Transocean, offshore drilling contractor Noble Corporation, which has recently marked its 100th anniversary, is optimistic about the market outlook for its rig fleet with a pipeline of tender opportunities developing on the horizon as well as higher day rates. Noble Corporation celebrated its one-hundred-year anniversary about a month ago, but that... Continue Reading →
Offshore drilling contractor Valaris, which had filed for bankruptcy in August 2020, said Monday it had on April 30, 2021, successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. ... Continue Reading →
Brazilian oil and gas company Enauta has come to an agreement with Dommo Energia regarding all of the ongoing legal proceedings pertaining to the Atlanta Field offshore Brazil. This has been a long ongoing dispute dating back to 2017. At the time, Barra Energia exercised the rights to expel Dommo Energia from Block BS-4 which... Continue Reading →
Offshore drilling contractor Valaris booked a $910 million loss in the first quarter of the year but hopes to re-emerge from bankruptcy sooner rather than later. Valaris on Wednesday reported a net loss of $910 million for the first quarter of 2021 compared to a net loss of $71 million in the fourth quarter of... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras informs that it has decided to close ICMS (VAT tax) contingencies with the State of Rio de Janeiro, in the total estimated amount of R$ 1.530 billion, through the disbursement of R$ 544 million, with an avoided cost of 64%. The decision is based on the special installment payment program... Continue Reading →
Offshore drilling contractor Diamond Offshore Drilling and its debtor-affiliates have emerged from their Chapter 11 process after completing a financial reorganization under their joint plan of reorganization. Diamond said that it emerged from Chapter 11 on 23 April 2021. The restructuring provides substantial liquidity for the company, resulting in the equitization of approximately $2.1 billion... Continue Reading →
Brazil Energy Insight 