Fossil Energy
Shell’s employee to ‘demystify petrophysics’ at SPE Aberdeen
Alan Johnson, principle petrophysicist at Shell UK and SPE Aberdeen Board Member, is set to ‘demystify petrophysics’ at a Society of Petroleum Engineers (SPE) Aberdeen event this week. Johnson, who joined Shell in 2001 as a petrophysicist and has been working in the oil industry for 39 years, will o
VOS Paradise keel-laying held at Cosco Shipyard
Vroon, an international shipping company, announced that the keel-laying ceremony for VOS Paradise took place on Wednesday 30 April at Cosco Guangdong Shipyard in China. VOS Paradise is the second of six PX121-type PSVs being built at the Shipyard. The vessels will be delivered to Vroon in 2015/2016
NES to propel Fafnir Offshore’s new PSV
Norwegian Electric Systems (NES) supplies the complete diesel electric system including the QUEST® system to Fafnir Offshore’s next vessel. NES recently got the contract for the hybrid battery diesel electric propulsion system for hull no. 126, a HD833 WE ICE platform supply vessel, with delivery in
OTC 2014: Boskalis starts study on new ultra large HTV
Royal Boskalis Westminster N.V. announced at the Offshore Technology Conference in Houston (USA) that it has started a study into a new ultra large V-class Heavy Marine Transport Vessel. The Dockwise Vanguard which came into service early 2013 is already the world’s largest V-class HTV with a carryi
Floatel to issue $650 mln term loan
Floatel International Ltd is contemplating issuing a $650 million term loan maturing May 2020. The net proceeds from the loan will be used to refinance existing project finance loans for Floatel Superior, Floatel Reliance and Floatel Victory as well as existing $200 million bond. Floatel has concurr
Statoil divests part of Shah Deniz and South Caucasus Pipeline interest
Statoil has completed the farm-down of 10% of its interest of 25.5% in the Shah Deniz Production Sharing Agreement and the South Caucasus Pipeline Company Limited to BP (3.33%) and SOCAR (6.67%). The consideration for the sale and transfer of these assets is USD 1.45 billion. The divestment that was
Pacific Drilling delivers fifth consecutive quarter of increasing revenue
Pacific Drilling S.A. announced revenue of $225.6 million for the three months ended March 31, 2014, as compared to revenue of $200.5 million for fourth-quarter 2013 and $175.0 million for first-quarter 2013. Net income for first-quarter 2014 was $22.2 million or $0.10 per diluted share. Net income
SeaBird Exploration reports 33 per cent revenue decrease in Q1
SeaBird Exploration PLC has announced its financial results for the first quarter of 2014. 2014 SUMMARY OBSERVATIONS FOR THE FIRST QUARTER – Revenues for the quarter were $33.7 million, a decrease of 33% compared to the comparable period in 2013 and down 13% relative to Q4 2013. – Contract revenues
BGP Challenger ends 2D survey off Namibia
Overcoming the rough sea state, BGP Challenger successfully completed a 2D survey for Spectrum offshore Namibia with 123km average daily production and zero downtime. Howard Nicholls, Geophysical Advisor of Spectrum, said: “Thank you from me for a job well done. The data is already looking very good
SBM Offshore wins Spotlight on new Technology award at OTC
SBM Offshore has been honoured with the prestigious Spotlight on new Technology award at the 2014 OTC conference in Houston. As a leading pioneer in floating production and mooring systems, SBM Offshore continually pushes the limits of technology to deliver higher performing, more cost-effective and
Secunda’s AHTS chartered to support operations offshore at Hibernia and Hebron
Secunda Canada LP, which is 50% owned by Siem Offshore, has entered into an agreement with Hibernia Management and Development Company Ltd and ExxonMobil Canada Properties (together the “Charterers”) for the charter of one offshore support vessel, referred to as an AHTS vessel, for a 5 years firm co
AWE: Pre-completion well costs increase to USD 99 mln
AWE Limited reports that, based on the significant additional work required to mitigate the mechanical difficulties and drill the two sidetracks at Pateke-4H development well, gross pre-completion well costs have increased. The well costs have increased beyond the pre-drilling estimate of USD 55 mil
EnerMech lands Gullfaks job from Technip
EnerMech will provide Technip in Norway with equipment and personnel on two offshore campaigns for Leak Testing (RFO Services) of the Gullfaks Future Oil Export Loading system in the Norwegian North Sea. The contract award follows the appointment of the EnerMech’s PPU (Process, Pipeline & Umbilicals
Stone Energy’s net profit at $26M in 1Q 2014
Stone Energy Corporation today announced financial and operational results for the first quarter of 2014. Some of the highlights include: Net income of $25.9 million or $0.52 per share Production volumes at the upper end of first quarter guidance Development drilling success at the Cardona South a