French geophysical services company CGG has completed an extension of its Santos VII broadband 3D multi-client survey offshore Brazil. CGG said on Wednesday that the 1,867 square kilometer extension to the original footprint gives the company a total of almost 16,000 square kilometers of newly acquired and imaged pre-salt coverage. Read more
Subsea 7 posts higher profit
UK-based subsea engineering, construction and services company Subsea 7 saw an increase in its profit and revenues during the second quarter of this year lifted by renewables and heavy lifting business unit. Subsea 7 on Wednesday posted a profit of of $146 million for the second quarter 2017, up $10 million or 7% compared to... Continue Reading →
Hess sinks deeper in the red
Independent energy company Hess Corporation recorded a bigger loss for this year’s second quarter compared to the one in the prior-year quarter. Hess on Wednesday reported a net loss of $449 million for the second quarter of 2017 compared with a net loss of $392 million in the second quarter of 2016, reflecting a lower effective tax rate... Continue Reading →
Seadrill gets a one-month breather from creditors
Seadrill, a cash-strapped offshore driller, has been given some breathing space in an effort to restructure its reported $14 billion debt. Read more
Petrobras 2nd Quarter 2017 Results Release Date
Rio de Janeiro, July 25, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it will release its 2nd quarter 2017 results on August 10, 2017 after the market is closed. Therefore, between 07/26/2017 and 08/10/2017, the Company will be in quiet period, during which it will not be able to comment or provide clarifications... Continue Reading →
Petrobras respects minority shareholders again: board member
Minority shareholders of Brazilian state oil giant Petroleo Brasileiro are respected again under the leadership of Chief Executive Pedro Parente, and management is on the same page, a company board member said. Marcelo Mesquita, who has represented holders of common shares on Petrobras' board for almost a year, said that investors are now certain that... Continue Reading →
Anadarko to curb spending this year
U.S.-based oil and gas company Anadarko Petroleum Corporation narrowed its net loss for the second quarter 2017 and decided to reduce its spending for the year. For the 2Q 2017, the oil company on Monday reported a net loss attributable to common stockholders of $415 million compared to $692 million loss in the prior-year period. The... Continue Reading →
Saipem sinks to 1H loss. Cuts full-year revenue guidance
Italian oilfield services giant Saipem posted a net loss of 110 million euros for the first half of 2017, a drop compared to a net profit of 53 million euros in the same period a year ago. Revenues fell to €4,59 billion, down from €5,27 billion a year ago. Read more
Increased activity lifts McDermott’s revenues
Houston-based engineering, procurement, construction and installation company McDermott posted higher quarterly profit and revenues boosted by increased activity. The company in a report on Tuesday posted a net income of $36.4 million for the second quarter of 2017 as opposed to $20.7 million profit for the prior-year second quarter. Further according to the report, the company’s... Continue Reading →
ExxonMobil finds more oil in Payara reservoir off Guyana
Oil giant ExxonMobil has discovered additional oil in the Payara reservoir offshore Guyana, increasing the total Payara discovery to approximately 500 million oil-equivalent barrels. Read more
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