Fossil Energy
Buccaneer files for bankruptcy
Buccaneer Energy Limited and its U.S. subsidiaries filed voluntary petitions for reorganisation under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Victoria Division. The Company’s filing was made on the eve of a 1 June 2014 deadline establis
Scottish marine specialist invests in subsea baskets
A leading Aberdeenshire marine equipment specialist has invested a six-figure sum in its subsea equipment in order to achieve industry standards. Motive Offshore, which was launched in 2010 by James Gregg, Dave Acton and Bob Smit, and is headquartered in Boyndie, near Banff, in Aberdeenshire, has in
Havyard thinking of bond issuance
Havyard Group ASA contemplates the issuance of a new senior unsecured bond in the Norwegian bond market with maturity in June 2017.
Fine Tubes in Egina field deal
Fine Tubes, a UK-based manufacturer and distributor of precision tubes for critical applications, has been awarded an order by FMC Technologies for the supply of advanced tubing for Total’s offshore Egina project in Nigeria. Located some 150km off the coast of Nigeria at a depth of up to 1750m, the
KrisEnergy raises cash for offshore development in Thailand
KrisEnergy Ltd. an independent upstream oil and gas company, announces that it has successfully priced an aggregate amount of S$130 million 6.25% Notes due 2017 (the “Notes”) under the S$500 million Multicurrency Medium Term Notes Programme (the “MTN Programme”) established on 26 May 2014. The Notes
Cal Dive sells surface diving fleet
Cal Dive International, Inc. has announced the sale of its U.S. Gulf of Mexico shallow water surface diving fleet to a privately held company for cash of $18.5 million and a 19.9% minority interest in the entity acquiring the assets. The assets sold are comprised of eight surface diving vessels and
BG hits gas offshore Tanzania
Ophir Energy plc announces the successful results of the Taachui-1 & subsequent Taachui-1 ST1 well in Block 1, Tanzania which has resulted in a new gas discovery. Ophir holds 20% of Blocks 1, 3 and 4. BG Group operates with 60%. The Taachui-1 well was drilled by the Deepsea Metro I drillship close t
Energy XXI wraps up $2.3B EPL Oil & Gas acquisition
Energy XXI has completed the acquisition of EPL Oil & Gas (NYSE:EPL) for approximately $2.3 billion, making Energy XXI the largest publicly traded independent operator on the Gulf of Mexico shelf. The transaction included the assumption of approximately $805 million of EPL debt, net of cash, payment
Premier Oil makes gas discovery offshore Indonesia
Premier Oil has announced that Singa Laut-1 well in Tuna PSC offshore Indonesia has penetrated 177 feet of net gas-bearing reservoir quality sands within the targeted Oligocene sequence. Gas gradients have been measured and gas samples recovered. The gas appears to be of similar quality to the liqui
Deepwater rig secured for Falkland Islands drilling
On 3 June 2014 Premier Oil plc signed a contract for a dynamically positioned, harsh environment semi-submersible drilling rig, FOGL, the oil and gas exploration company focused on its extensive licence areas offshore the Falkland Islands, said today. In addition, several other related contracts hav
Apache drills shallow hole section at Phoenix South-1
Carnarvon Petroleum Limited reports that the Apache-operated Phoenix South-1 well has completed drilling the shallow hole section and is preparing to drill the intermediate section. As at 06:00 hours this morning the well had drilled to 1,502 m MD and was in the process of setting 13 3/8” casing in
Largest single riser contract in Claxton’s history
Claxton, an Acteon company, has been awarded a multi-year contract with Det norske oljeselskap ASA of Norway: the largest single riser contract in Claxton’s history.
Wärtsilä sells Russian JV stake. Focuses on marine and energy power solutions
Finland’s Wärtsilä and Russia’s Transmashholding have agreed that Wärtsilä will sell its 50 per cent share in the joint venture Wärtsilä TMH Diesel Engine Company LLC to Transmashholding, the other joint venture party. The divestment of the joint venture will enable Wärtsilä to concentrate on its co
Noreco CFO hands in resignation
Ørjan Gjerde, who has been CFO at Noreco since March 2012, has handed in his resignation and will leave the company by 31 August 2014. “Under Gjerde’s leadership, Noreco has built a highly competent finance and accounting group. He has also headed the company’s investor relation activities. During t