Offshore

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

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

Noble Corporation plc Announces Drilling Services Agreement With ExxonMobil In The Guyana-Suriname Basin

February 12, 2020 - 10:15 am Exploration and Production (E&P), Offshore, Press Releases
Kosmos Energy Increases Reserves for Seventh Consecutive Year

Kosmos Energy Increases Reserves for Seventh Consecutive Year

Kosmos Energy Increases Reserves for Seventh Consecutive Year

Aker BP and Cognite Partner to Explore the Potential of Robotics in the Oil & Gas Industry

Aker BP and Cognite Partner to Explore the Potential of Robotics in the Oil & Gas Industry

Aker BP and Cognite Partner to Explore the Potential of Robotics in the Oil & Gas Industry

February 11, 2020 - 8:00 am International, Offshore, Press Releases, Technology
Diamond secures over $50 million backlog with new North Sea extension

Diamond secures over $50 million backlog with new North Sea extension

Off Shore Energy


During 2019, the company secured $620 million of backlog, including over $50 million secured in the fourth quarter related to a 12-month extension for the Ocean Patriot in the North Sea.

Diamond secures over $50 million backlog with new North Sea extension - oilandgas360

Namely, the 1982-built Ocean Patriot semi-submersible …

Source: Houston Chronicle

Guyana backs Exxon deal, slams ‘malicious’ NGO study

Houston Chronicle


Guyana vigorously defended its oil contract with Exxon Mobil Corp. after the deal was criticized by human-rights group Global Witness just a month before the country holds a general election.

The report faulted “inexperienced” government officials for failing …

Source: Houston Chronicle

Chevron, Petrobras plan to sell deepwater Brazilian field

Houston Chronicle


Chevron and Brazil’s state oil company plan to sell their 100 percent ownership stake of a key deepwater field offshore of South America’s largest country as they both seek to sell assets to cut costs.

The deepwater Papa …

Fugro, HC2 divest Global Marine Group stake

Fugro, HC2 divest Global Marine Group stake

Marine Link



US-based financial services company HC2 Holdings and the Dutch multinational provider of geo-intelligence Fugro have sold offshore engineering specialist Global Marine Group (GMG) to private equity firm J.F. Lehman & Company for a sum of USD 250 million. …

Source: Houston Chronicle

Halliburton wins offshore wells contract for Australian LNG project

Houston Chronicle


Houston oil-field service company Halliburton has landed a contract for offshore natural gas wells that will feed an LNG project in Northwest Australia.

In a statement released early Monday, Halliburton said it won drilling and completion services for …

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru

ExxonMobil Ups Guyana Recoverable Resources to More Than 8 Billion Oil-Equivalent Barrels, Makes Discovery at Uaru