Offshore

GALLERY: Giant Sleipnir vessel wraps up decommissioning campaign for ConocoPhillips

GALLERY: Giant Sleipnir vessel wraps up decommissioning campaign for ConocoPhillips

Offshore Energy


Earlier this month, Heerema Marine Contractors’ giant semi-submersible crane vessel (SSCV) Sleipnir completed its first decommissioning campaign of the season.

It was a unique project, as Heerema’s Champion installed the same modules for ConocoPhillips at the Greater Ekofisk …

May 20, 2020 - 5:52 am Exploration and Production (E&P), Offshore
OFS stocks lost half their value since 2020 began

OFS stocks lost half their value since 2020 began

Oil&Gas


The best performers among services companies were in the EPCI sector

Oil & Gas 360 publishers note: This is an excellent article by Carla Sertin. She uses information from Rystad, and highlights several key points.  “The result of

Will the Eastern Mediterranean pipeline deal create a regional energy hub?

Will the Eastern Mediterranean pipeline deal create a regional energy hub?

European CEO


Now that Cyprus, Greece and Israel have signed the Eastern Mediterranean pipeline deal, the countries may finally fulfil their ambitions of becoming regional energy hubs – but long-simmering disputes could create blockages

The Eastern Mediterranean is in the …

May 15, 2020 - 11:30 am International, Natural Gas News, Offshore, Pipeline News
Maersk Drilling in new round of layoffs

Maersk Drilling in new round of layoffs

Offshore Energy


Offshore drilling company Maersk Drilling has decided to take another swing with the job axe and lay off even more staff.

Maersk Drilling said on Thursday that the new wave of layoffs, as well as a revision of …

Source: Reuters

Exclusive: Warburg Pincus explores sale of overseas energy assets – sources

Reuters


LONDON/NEW YORK – Warburg Pincus is considering selling five of its eight international oil and gas investments after the coronavirus crisis hit demand, sources familiar with the matter said.

The U.S. investment firm, which has more than $54 billion …

Source: Forbes

The Oil And Gas Situation: Bleak In The U.S., Surprisingly Positive In Latin America

Forbes


How bad is the situation for the oil and gas industry in the U.S. right now? Let’s take a look at some compelling recent data points:

Update Post Wreck Footage: New heavy-lift crane due to work at giant Scottish wind project ‘collapses’

Update Post Wreck Footage: New heavy-lift crane due to work at giant Scottish wind project ‘collapses’

Offshorewind.biz


The Orion is under construction and owned by COSCO (QIDONG) OFFSHORE CO., LTD. – Video below. Oil & Gas 360 Publishers Note: I am glad no one was killed, but would someone answer the phone in the film?

COSCO …

May 2, 2020 - 8:41 pm International, Offshore, Popular 1, Renewable Energy
DeepOcean arrives for Troll phase 3 umbilicals

DeepOcean arrives for Troll phase 3 umbilicals

DeepOcean’s 150-metre-long offshore construction vessel Edda Freya has arrived at Nexans Norway’s factory in Halden to load umbilical for Equinor’s Troll Phase 3 project.

The Norwegian offshore contractor will install the umbillical in the North Sea later in the summer.…

April 18, 2020 - 11:24 am International, Natural Gas News, Offshore, Pipeline News
Offshore drillers to see contract cancellations of up to $3 billion until 2021

Offshore drillers to see contract cancellations of up to $3 billion until 2021

Oil&Gas


The estimated contract value in 2020-2021 is $30 billion in total

The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most …

Hornbeck Offshore Enters Into Restructuring Support Agreement For Comprehensive Balance Sheet Restructuring

Hornbeck Offshore Enters Into Restructuring Support Agreement For Comprehensive Balance Sheet Restructuring

April 14, 2020 - 6:00 am Finance, Offshore, Press Releases
Offshore drillers will be living on the edge, Rystad analysis shows a combined revenue loss of an estimated $3 billion

Offshore drillers will be living on the edge, Rystad analysis shows a combined revenue loss of an estimated $3 billion

Offshore Energy


The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling, in particular, is among the most affected industry segments, according to energy intelligence firm Rystad Energy.

April 11, 2020 - 11:10 am Crude Oil News, International, Offshore
Petrofac to cut staffing levels by 20% in response to Covid-19

Petrofac to cut staffing levels by 20% in response to Covid-19

EnergyVoice


Oil & Gas 360 Publishers Note: Take note that Petrofrac is lowering the board and senior management compensation during this financial crisis when their employees are affected as well. This is a behavior that investors should note when the

Exploration firm Block Energy agrees to acquire Schlumberger subsidiary

Exploration firm Block Energy agrees to acquire Schlumberger subsidiary

Offshore Technology

 

Oil and gas exploration firm Block Energy has reached a sale and purchase agreement for a Schlumberger subsidiary.

The oilfield services giant owns Schlumberger Rustaveli Company Limited (SRCL), which in turn holds three production sharing contracts (PSCs). …

Offshore workforce cut by 40% due to Covid-19.

Almost 40% of the North Sea workforce has been cut as operators attempt to wrestle with the growing coronavirus crisis.

EnergyVoice

 


Trevor Stapleton, Oil and Gas UK’s HSE director, said more than 4,000 crew and staff have been stood down over the last few weeks as offshore firms look to move to a skeleton staff. The North Sea averaged …

March 27, 2020 - 6:53 am Crude Oil News, Energy News, International, Offshore
Thirteen suspected Covid-19 cases on Taqa North Sea platforms

Thirteen suspected Covid-19 cases on Taqa North Sea platforms

Energy Voice


Taqa said that eight crew members are currently under self-isolation on its Cormorant Alpha and North Cormorant platforms.

It added that a further five workers have show “minor symptoms” and are nearing the end of their self-isolation period.…

March 24, 2020 - 7:00 am Energy News, Exploration and Production (E&P), Offshore
Source: Houston Chronicle

Exxon, Guyana head toward uncertain future

Houston Chronicle


GEORGETOWN, Guyana — They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company.

They came to depend on each other after a series …

Jadestone Energy Inc. Announces Revised 2020 Capex Guidance and Update on Vietnam

Jadestone Energy Inc. Announces Revised 2020 Capex Guidance and Update on Vietnam

SINGAPORE / ACCESSWIRE / March 19, 2020 / Jadestone Energy Inc. (AIM:JSE, TSXV:JSE) (“Jadestone” or the “Company”), an independent oil and gas production company focused on the Asia Pacific region, provides an update on its 2020 capital expenditure guidance.

McDermott gets approval for reorganization plan

McDermott gets approval for reorganization plan

Offshore Energy


The U.S. Bankruptcy Court for the Southern District of Texas has confirmed McDermott’s plan of reorganization and approved the sale of Lummus Technology to a joint partnership between The Chatterjee Group and Rhône Capital.

McDermott filed for Chapter

Contango Oil and Gas Company provides an operational update

Contango Oil and Gas Company provides an operational update

The Company is currently undertaking an extensive review of all of its producing areas to determine the economic or operational justification for continuing to produce unhedged barrels in this price environment, and where determined not justified, and operationally feasible, evaluate …

Murphy Oil Corporation Announces 35 Percent Capital Expenditure Reduction For 2020

Murphy Oil Corporation Announces 35 Percent Capital Expenditure Reduction For 2020

Murphy’s revised 2020 budget is approximately $950 million. The reduction of approximately $500 million equates to a nearly 35 percent revision from the midpoint of the previously announced corporate budget of $1.4 billion to $1.5 billion. Murphy will release further …

March 12, 2020 - 7:55 am Offshore, Press Releases
Source: Houston Chronicle

Exxon, Shell face uphill legal battle over soured Nigerian deal

Houston Chronicle


Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.

The companies accused the Nigerian National …

Source: Houston Chronicle

Guyana elects leader as vast oil boom dawns

Houston Chronicle


GEORGETOWN, Guyana (AP) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest …

March 3, 2020 - 3:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Source: CNBC

‘The new frontier of oil’: Latin America’s newest crude-producing nation to hold pivotal election

CNBC


An upcoming election in one of the smallest and poorest countries in South America is set to decide on a new government to oversee the highest amount of oil per person of any country in the world.

Guyana, a

February 28, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Processing of aoil and gas from Skogul will take place on Alvheim FPSO. Credit: Aker BP.

Aker BP receives approval for Skogul oil field start-up in North Sea

Offshore Technology


Norwegian oil firm Aker BP has received approval from the Norwegian Petroleum Directorate (NPD) for the start-up of the Skogul oil field in the North Sea. Situated in the centre of the Norwegian North Sea, Skogul oil field

Kosmos Energy Announces Fourth Quarter and Full Year 2019 Results

Kosmos Energy Announces Fourth Quarter and Full Year 2019 Results

Kosmos Energy Ltd. (“Kosmos”) (NYSE: KOS) announced today the financial and operating results for the fourth quarter of 2019. For the quarter, the Company generated a net loss of $36 million, or $0.09 per diluted share. When adjusted for certain …

Noble Paul Romano; Source: Noble Corp.

Noble Corporation posts higher quarterly revenues

Offshore Energy Today


Offshore drilling contractor Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period. Noble Corp. CEO is getting ready to transition to the role

Source: Reuters

Italy’s Eni says offshore Mexico find could make block commercial

Reuters


MEXICO CITY – Italy’s state-controlled oil company Eni said on Monday it notched an offshore discovery just off Mexico’s southern Gulf Coast, marking “a potential commercial outcome” in its area because of other nearby prospects.

The new find is …

Source: Reuters

Tullow Oil shares slip as empty offshore Peru well adds to woes

Reuters


Tullow Oil said it will plug and abandon its Marina-1 well in offshore Peru after drilling reached maximum depth without finding oil, in another sign of trouble for the British oil and gas explorer that sent its shares 8% …

Reuters Events Release Executive Attendee List for Flagship Decommissioning and Abandonment Summit

Reuters Events Release Executive Attendee List for Flagship Decommissioning and Abandonment Summit

Oil & Gas 360 Feed Wire


Reuters Events Release Executive Attendee List for Flagship Decommissioning and Abandonment Summit

Reuters Events Release Executive Attendee List for FlagshipHOUSTON, February 17, 2020 – DecomWorld – part of Reuters Events- today released a sample delegate list of 150 E&P attendees confirmed …

February 17, 2020 - 10:58 am 360 Company Releases, Offshore, Press Releases
SBM Offshore 2019 Full Year Earnings

SBM Offshore 2019 Full Year Earnings

SBM Offshore 2019 Full Year Earnings