Fossil Energy
Popular news, February 17 – 23, 2020
Offshore Energy Today’s most popular news of the past week.
Noble Corporation gets continued listing warning from NYSE
Offshore rig owner Noble Corporation has received a continued listing standard notice from the New York Stock Exchange (NYSE).
Rystad: Indonesia’s oil & gas production to fall short of expectations for 2020
Despite Indonesia’s official projections of an eight percent growth year-on-year, production of both oil and gas will most likely fall in 2020, according to energy intelligence firm Rystad Energy.
Ex-consultant connected to Sembcorp Marine convicted of corruption in Brazil
A former consultant connected to Singapore’s offshore rig builder Sembcorp Marine has been convicted of corruption and money laundering in a case related to a drilling rig construction contract with Brazil’s drilling contractor Sete Brasil.
Shelf Drilling working to secure funds for rig upgrade
Shelf Drilling has closed a private placement of $80 million of senior secured notes with an intention to use the proceeds to finance activation and upgrade costs for a drilling rig recently acquired from Maersk Drilling.
Loss deepens for Valaris
Offshore drilling contractor Valaris booked a bigger quarterly loss as its revenues declined due to fewer rig operating days. Valaris on Thursday reported a net loss attributable to the company of $216 million for fourth quarter 2019 compared to a net loss of $197 million in the third quarter 2019.
Worley scores Mozambique LNG services deal from Total
Australian engineering company Worley has been awarded two master service agreements (MSAs) by French major Total for services on the Mozambique LNG project.
Shell orders subsea equipment for Whale project from Deep Down
Houston-based oilfield services company Deep Down has received an order from oil major Shell for work related to its Whale development in the U.S. Gulf of Mexico.
Hunting boosts subsea offering by buying UK player
British supplier to the oil and gas industry Hunting has completed the acquisition of Aberdeen-based oil and gas production optimization specialist Enpro Subsea.
Sembcorp Marine sinks to the red amid low activity levels
Singapore’s offshore rig builder Sembcorp Marine posted a bigger loss for 2019 when compared to 2018. Quarterly, the company went from black to the red as its revenues dropped by 32% amid low activity levels.
Southern North Sea gas field comes on stream
Wintershall Noordzee, a joint venture of Wintershall Dea and Gazprom, has started gas production from its operated Sillimanite field located in the Southern North Sea.
DOF Subsea gets new gigs for vessels in Africa
Norwegian vessel operator DOF Subsea has won two contract awards with international clients in Africa.
Noble Corp. posts higher quarterly revenues
Noble Corporation has managed to keep its net loss flat in the last quarter of 2019 while its revenues increased during the period.
Otto Energy rejoins Byron in Gulf of Mexico drilling program
After refusing to participate in Byron Energy’s SM71 F4 well in the Gulf of Mexico, Otto Energy decided that it would be participating in the drilling of the next well, named SM71 F5.