Fossil Energy
Odfjell Drilling posts smaller profit despite higher revenues
Odfjell Drilling posted a decrease in quarterly profit despite increase in revenues driven by mobile offshore drilling units segment.
Bahamas Petroleum clears environmental hurdle for offshore well
London-listed oil company Bahamas Petroleum Company (BPC) has received environmental authorization from the government of The Bahamas for the Perseverance #1 well, expected to be spud in April 2020
Polarcus still in red, but riding the wave of strongest backlog since 2014
Seismic services player Polarcus posted a loss of $19 million for the fourth quarter of 2019.
Eni’s Agogo field size increases to 1 billion barrels of oil
Eni has drilled the Agogo-3, the second appraisal well of Agogo discovery in Block 15/06, offshore Angola, increasing by about 40% the estimate of oil in place, which is now of 1 billion barrels with further upside to be tested in the Northern sector of the field.
Maersk Decom lands first complete plugging & abandonment job
Maersk Decom has won a contract for the complete plugging and abandonment of Tullow Oil’s Banda and Tiof fields located offshore Mauritania.
Oil & gas prices to fall below expectations over coronavirus epidemic, Rystad says
As China’s coronavirus epidemic continues to expand and more countries are affected, the slowdown in global oil and gas consumption this year will hit suppliers who will see average prices fall below previous expectations, according to Rystad Energy’s revised forecasts.
TechnipFMC sees ‘unprecedented level’ of inbound orders in 2019, books $2.4 billion loss in 4Q
TechnipFMC saw an “unprecedented level” of inbound orders in 2019, which pushed its backlog to over $24 billion. TechnipFMC booked a loss of $2.4 billion due to after-tax charges and credits.
Seadrill expects continued offshore drilling market recovery over rest of the year
Seadrill has seen an improvement in the offshore drilling market throughout 2019. Although the pace of the recovery has slowed down at the beginning of 2020, Seadrill expects continued market recovery over the remainder of the year.
CNOOC extends Asco’s North Sea support deal
Asco has been awarded a five-year extension, with options for further six years by CNOOC Petroleum to support all the operator’s North Sea assets.
Hurricane Energy CFO resigns
The chief financial officer and director of London-listed oil explorer Hurricane Energy has resigned via mutual agreement.
ARO Drilling deploys IFS solution on entire rig fleet
Offshore drilling contractor ARO Drilling has deployed IFS Applications solution to unify mission-critical business processes across its headquarters and fleet of 16 offshore drilling rigs.
UK oil major to leave three U.S. trade associations in push for low carbon future
UK oil major BP has said that, following an in-depth review examining the alignment of the climate-related policies and activities of trade associations with BP’s positions, it will leave three U.S.-based organizations in an effort to reach its target of becoming a net zero company by 2050.
Impairments drag Subsea 7 into the red
Subsea 7 booked a loss in the last quarter of 2019 largely due to a $100 million impairment charge as its revenues dropped compared to the prior-year period.
Wellesley takes Dolphin rig for drilling ops offshore Norway
Dolphin Drilling has secured a one well plus one optional well contract with Wellesley Petroleum for drilling work on the Norwegian Continental Shelf.