Petro Rio S.A. (“Company” or “PetroRio”), following best corporate governance practices, informs its shareholders and the market in general about the drilling in the Polvo Field’s (“Polvo”) Eocene reservoir, which resulted in a well (“POL-K”) with initial production of 2,500 barrels of oil per day, still in the assessment period. This highly satisfying result, following... Continue Reading →
Occidental Petroleum (OXY) Reports Q1 Loss, Tops Revenue Estimates
Occidental Petroleum (OXY) came out with a quarterly loss of $0.15 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $0.52 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 54.55%. A quarter ago, it was... Continue Reading →
Petrobras on sale of onshore field in Sergipe/Rabo Branco
Petróleo Brasileiro S.A. – Petrobras, following up on the release disclosed on December 11, 2020, informs that it signed with Petrom Produção de Petróleo & Gás Ltda. (Petrom) a contract for the sale of its entire 50% stake in the onshore field of Rabo Branco, located in the Sergipe-Alagoas Basin, in the State of Sergipe.... Continue Reading →
Diamond elects ex-Pacific Drilling and Noble exec as new CEO
Offshore drilling contractor Diamond Offshore has named a former boss of Pacific Drilling and a former executive of Noble Corporation as the company’s President and Chief Executive Officer who will also serve on the board of directors. Diamond revealed on Monday that Bernie G. Wolford Jr. succeeds Marc Edwards, who retired from the company as Chairman, President, and... Continue Reading →
TGS begins Santos Basin phase 4 3D survey
Norwegian seismic firm TGS has commenced the multi-client Phase 4 3D survey in the Santos Basin offshore Brazil. The survey is taking place in the western portion of the Santos Basin and works as a northwest extension of the existing TGS Santos 3D, covering approximately 5,000 square kilometers. The aim of this data coverage is... Continue Reading →
MODEC IS PRE-QUALIFIED FOR FPSO P-80 TENDER
(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 →
CGG Bags OBN Imaging Work with Equinor in Brazil
Equinor has awarded CGG a major contract for the seismic imaging of its Bacalhau 3D ocean bottom node (OBN) survey covering 409 sq km currently being acquired in Brazil’s deepwater Santos Basin. The project is already underway at CGG’s Rio de Janeiro subsurface imaging center where its team is using imaging technologies, including reverse time migration, time-lag... Continue Reading →
Petrobras signs contract to build seventh unit in Búzios
Petróleo Brasileiro S.A. – Petrobras informs that it signed a contract with Keppel Shipyard Limited to build the P-78, the seventh unit to be installed in the Búzios field, in the Santos Basin pre-salt area. With processing capacity of 180 thousand barrels of oil per day and 7.2 million cubic meters of gas per day, the... Continue Reading →
Tullow Oil Emerges from Overhaul with $1.8B Bond. No More Asset Sales Planned, CEO Says
Tullow Oil's $1.8 billion bond, which was launched to help it manage a $2.4 billion debt pile, drew more interest from investors than expected after the Africa-focused producer's financial overhaul, the chief executive said on Friday. Rahul Dhir also told Reuters the firm did not plan to sell more oil and gas fields after disposing... Continue Reading →
Petrobras is in negotiations to dispose of its gas E&P activities in Bolivia
(epbr) Petrobras is in negotiations to dispose of its gas E&P activities in Bolivia and to close all activities in Argentina and Colombia. - In Bolivia, gas production comes mainly from the San Alberto and San Antonio fields, where Petrobras holds a 35% interest in service operation contracts. - According to a source, the state... Continue Reading →
