(World Oil) – Caturus Energy has contracted Nabors Industries to deploy the PACE-X Ultra™ X33 rig, billed as the most powerful onshore drilling system currently operating in the U.S. The move marks a milestone in Caturus’ strategy to expand natural gas production from its South Texas portfolio. Caturus, which produces more than 650 MMcf of net gas equivalent per day
(World Oil) – Namibia will offer financial incentives to help kick-start the development of oil fields managed by a group led by TotalEnergies, according to a special adviser in the presidency. TotalEnergies and Shell Plc in 2022 made the first in a series of finds off the coast of the southwest African nation. But the explorers have also hit dry wells,
(World Oil) – Halliburton announced a contract award from Petrobras for integrated drilling services across several offshore fields in Brazil, the result of a competitive process. The contract scope includes drilling services for development and exploration wells over a three-year period. In this contract, Halliburton will provide iCruise® intelligent rotary steerable system (RSS) to reduce well time and place wells accurately,
(Oil Price) – U.S. President Donald Trump signed on his first day in office an executive order to unleash America’s energy by easing the barriers to oil and gas extraction and production and revoking a series of climate orders by President Biden. As pledged in the campaign and widely expected to take place on President Trump’s first day in office, the executive order
(Yahoo Finance) – Kosmos Energy has confirmed that it is in “preliminary discussion” with Tullow Oil, an independent oil and gas exploration company, regarding a potential all-share takeover offer. The announcement follows recent media reports speculating about the deal. Tullow Oil, which has faced leadership changes following the resignation of CEO Rahul Dhir on 4 December, acknowledged the approach in
(World Oil) – Namibia’s next wave of offshore oil drilling is set to begin with the arrival of a rig near an existing discovery made by Galp Energia SGPS S.A. Saipem SpA’s Santorini drillship showing a destination of “Mopane,” the name of the find made by Galp, arrived at the site of the field early on Wednesday, according to ship
(World Oil) – Helix Energy Solutions Group Inc. is exploring strategic options, including a potential sale, people familiar with the matter said. The Houston-based offshore drilling services provider is working with advisers to gauge interest from potential buyers, according to the people, who asked not to be identified discussing confidential information. Shares in Helix rose as much as 10.4% on Thursday.
Oil Price Demand for offshore rigs for overseas drilling has soared this year even as U.S. oil-rig growth has plateaued. According to Baker Hughes, there are now 622 oil rigs operating in the U.S., down from the 683 in operation in March of 2020 at the onset of the pandemic and unchanged from six weeks ago. This has caused day
Oil Now (S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural gas demand will remain steady over the next two to three decades as the world transitions to net-zero greenhouse
World Oil For the past two years, Maersk Drilling has spearheaded an innovative effort to develop a first-of-a-kind product to support digitalization of offshore drilling processes. The solution, known as RigFlow, has now been segregated into the digitally focused company named Horizon56 A/S to drive further development and commercialization. Horizon56 has been founded as a fully-owned Maersk Drilling subsidiary, with
Reuters SINGAPORE/BEIJING – A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals. While global peers like BP, Royal Dutch Shell have announced cuts in hydrocarbon output and huge renewable energy investments to cut emissions,
Reuters NEW YORK – The U.S. Bureau of Safety and Environment Enforcement, which overseas offshore oil and gas production, said it will consider lower royalty payments for producers that invest in projects to enable existing platforms to reach their full capacity. The move to offer royalty relief comes in the final months of the Trump administration, and follows similar policy
