Brought to you by Quest Offshore & Southern Cone Consultants
(OE) U.S. based offshore support vessel owner Tidewater plans to start an offering of USD denominated 5-year senior secured bonds, subject to market and other conditions. "The Company intends to use the net proceeds from the bond issue towards refinancing of the Company’s outstanding debt and for general corporate purposes," Tidewater said. The bonds will... Continue Reading →
Following reports that a consortium between Brazil’s PetroRio and Vinci’s subsidiary Cobra has been chosen as the top bidder for Petrobras’ Albacora offshore oilfield, PetroRio is awaiting notification from Petrobras about the process while Petrobras has said there is still no decision about the winning proposal. Citing people with knowledge of the matter, Reuters reported on Thursday... Continue Reading →
Soaring oil prices could signal the start of an amplified offshore rig market upcycle and this time it might stick around for a while, Esgian's Teresa Wilkie writes. Last week Brent crude touched $80 per barrel for the first time in three years. What may be even more remarkable is that it has remained above... Continue Reading →
U.S. oil major ExxonMobil has made yet another oil discovery in its prolific Stabroek Block, offshore Guyana, and has now increased its estimate of the discovered recoverable resource for the block to approximately 10 billion oil-equivalent barrels. The updated resource estimate includes a new discovery at the Cataback-1 well, which brings the total significant discoveries... Continue Reading →
(Reuters) - Brazil failed to sell off exploration and production rights in the most promising offshore oil blocks up for sale on Thursday, as its first oil auction since the start of the COVID-19 pandemic brought just 37.1 million reais ($6.7 million) into state coffers. In total, there were 92 blocks up for grabs in... Continue Reading →
Petróleo Brasileiro S.A. – Petrobras, regarding the pieces of news in the media about the divestment project of the Albacora and Albacora Leste fields, in the Campos Basin, informs that there is still no decision about the winning proposal for either asset. The company continues to analyze the offers according to the evaluation criteria of... Continue Reading →
(PetroNoticias) The first oil transfer operation of the FPSO Carioca – the first definitive production system installed in the Sepia field, in the Santos Basin pre-salt – destined oil for the production of oil products at the Henrique Lage Refinery (Revap ) and at the Paulínia Refinery (Replan), in São Paulo. The oil produced in... Continue Reading →
(Reuters) - Oil prices fell sharply on Thursday, extending losses from the previous session, as the United States said it was considering selling oil from its strategic reserves and as Russia said it was ready to stabilise the natural gas market. Brent crude prices fell $1.24, or 1.5%, to $79.84 a barrel by 0918 GMT,... Continue Reading →
Offshore driller Seadrill Ltd has requested an additional four months to retain control of its bankruptcy proceeding, saying it is still working to drum up as much support as possible for its proposed reorganization plan. The company, represented by Kirkland & Ellis, made its request in a motion filed on Tuesday, a few weeks before... Continue Reading →
(Reuters) - Royal Dutch Shell (RDSa.L) warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August's Hurricane Ida. However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cashflows from soaring natural gas and electricity prices. Gas and power prices have been... Continue Reading →
