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(OE) U.S. oil major ExxonMobil said on Tuesday it made an oil discovery at the Uaru-2 well in the Stabroek Block offshore Guyana. Uaru-2 will add to the previously announced gross discovered recoverable resource estimate for the block, which is currently estimated to be approximately 9 billion oil-equivalent barrels, ExxonMobil said. Drilling at Uaru-2 encountered... Continue Reading →
Energy transition company Technip Energies has agreed to buy €20 million (approx $24.2 M) equivalent of its own shares from TechnipFMC. In February 2021, TechnipFMC and Technip Energies were separated as two independent, publicly traded companies. Technip Energies deals in LNG, hydrogen, and ethylene as well as blue and green hydrogen, sustainable chemistry, and CO2 management,... Continue Reading →
Offshore drilling contractor Seadrill has secured a four-year firm contract with four one-year options, for the West Saturn drillship with Norwegian oil major Equinor in Brazil. Seadrill said on Tuesday that the contract was awarded by Equinor’s subsidiary Equinor Brasil Energia Ltda for work on the Bacalhau offshore field. The total value for the firm... Continue Reading →
(Rigzone) Diamond Offshore Drilling, Inc. (OTCMKTS: DOFSQ) reported Monday that it, along with its debtor affiliates, emerged from Chapter 11 bankruptcy on April 23, 2021, after successfully completing a financial reorganization In addition, Marc Edwards has retired as the drilling contractor’s chairman, president, and CEO effectively immediately and that Executive Vice President and Chief Operating... Continue Reading →
Oilfield services firm Archer said it has signed an offer letter with Moreld laying out principle terms to purchase 100% of the shares in DeepWell, a Norwegian well intervention company focused on mechanical wireline and cased hole logging services. The contemplated transaction is subject to due diligence, negotiation of the transaction documentation, closing conditions and... Continue Reading →
(Reuters) Top oilfield services firm Schlumberger NV (SLB.N) on Monday named new executives to energy transition units, according to a memo seen by Reuters, a move that signals its growing commitment to lower carbon businesses. Sebastian Pages, formerly in the Well Construction group, was appointed as New Energy finance director. Kahina Abdeli-Galinier, previously the marketing director for... Continue Reading →
(PetroNoticias) The English company Marin Holding International hired the law firm Luzone Legal, specialized in the business area and in the oil and gas sector, to sue Petrobras for possible losses arising from the services provided by the vessel, Vitoria 10,000. As a reminder, the case is one of the most emblematic in the oil... Continue Reading →
International oil activity should ramp-up through the end of this year and beyond, Schlumberger NV (SLB.N) top boss Olivier Le Peuch said on Friday, a shift that will help the company grow revenue outside North America by double-digits in the second half of the year. The oilfield service provider's shares were up 1.27% in pre-market trading at... Continue Reading →
On many levels, 2020 was a pretty horrific year, “a year like no other”, according to Mike Beveridge, managing director of energy investment firm Simmons Energy, a division of Piper Sandler. It’s easy to see why. A dip into a negative WTI contract prices, Brent troughing at $23/b – the indicators were all pretty grim.... Continue Reading →
Maersk Drilling has been awarded a contract by CGX Resources, operator and joint venture partner with Frontera Energy, for the semi-submersible rig Maersk Discoverer for exploration drilling in the Corentyne Block off Guyana. Frontera Energy and CGX Energy, joint venture partners in the Petroleum Prospecting License for the Corentyne block, separately announced on Thursday that... Continue Reading →
