Fossil Energy
Ocean Rig Records Net Loss in 4Q 2012
Ocean Rig, an international offshore drilling contractor, recorded a net loss of $71.0 million, or $0.54 basic and diluted loss per share, for the three-month period ended December 31, 2012, as compared to a net income of $36.5 million, or $0.28 basic and diluted earnings per share, for the three-mo
Lukoil Reports Record Net Income for 2012 (Russia)
LUKOIL, Russia’s largest privately-owned oil company has published consolidated US GAAP financial statements for 2012. The Company, lead by the billionaire Vagit Alekperov, said its 2012 net income rose by 6.2% and reached record $11,004 million. EBITDA (earnings before interest, taxation, depreciat
‘Normand Commander’ Stays with Technip for Another Year
Global Industries Offshore L.L.C., a company owned by Technip, has exercised their option to extend the contract for the construction vessel “Normand Commander” with one year from June 2013. Technip has an option to extend the contract with further 2 x 1 year option after the expiry of the firm cont
Shell Awards Umbilical Installation Job to Ocean Installer (UK)
Shell U.K. Ltd. has awarded Ocean Installer a contract for umbilical installation at the Bittern field in the UK sector of the North Sea. The scope of the work is to install two new static umbilicals of 20.7 km and 1.8 km. This includes pre-lay engineering, survey and confirmation of all routes and
Noble’s Leviathan Appraisal Hits 454 Net Feet of Natural Gas Pay (Israel)
Noble Energy, Inc. has announced results from its second Leviathan appraisal well located in the Rachel license offshore Israel. The Leviathan #4 appraisal well was drilled to a total depth of 16,992 feet and encountered 454 net feet of natural gas pay in multiple intervals, the thickest net pay of
SeaBird Exploration: New Contract for Harrier Explorer Seismic Vessel
SeaBird Exploration Plc has negotiated an early termination of the current contract on the Harrier Explorer vessel against a fee, and that the vessel has been contracted to MultiClient Geophysical ASA (MCG). The contract is a completion of the Barbados multi client survey started in 2012. Duration i
Caterpillar Gensets for Russia’s Largest Offshore Platform
Caterpillar Oil and Gas has announce the Cat® 3500 diesel generator sets have been successfully installed on what is expected to be Russia’s largest offshore oil and gas platform, Berkut. Three Cat 3516B (HD) generator sets will provide both essential and emergency power for the fixed platform. Each
KBR Names New Group President
KBR has announced that Andrew “Andy” Summers will join the company as Group President of KBR’s Infrastructure, Government and Power business group in early April and will report to William P. Utt, Chairman, President and Chief Executive Officer. “Summers’ appointment reflects the importance of KBR’s
TGS Starts Barents Sea Seismic Surveys
TGS will start the Europe 2013 acquisition season with two 3D multi-client surveys in the Norwegian Barents Sea; Finnmark Platform 2013 (FP13) covering 3,500 km2 and the Hoop to Fingerdjupet 2013 (HF13) covering 8,600 km2. Both 3D seismic surveys cover areas of complex geology and are designed to ad
Rosneft Buys Exxon’s GoM Blocks (USA)
Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of Russia’s state-run oil company Rosneft, has acquired 30 percent interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies. The 20 blocks have a total
Exxon’s Start-Ups to Deliver 1 Million Oil-Equivalent Barrels by 2017
Exxon Mobil Corporation anticipates major project start-ups will deliver 1 million oil-equivalent barrels over the next five years, Rex W. Tillerson, chairman and chief executive officer, said today at the New York Stock Exchange. Production of crude oil and other liquids is expected to increase by
Talisman Slashes 2013 Budget. Puts Focus on Americas and Asia-Pacific
Canada’s Talisman Energy today announced it will slash its capital expenditure for 2013 by 25% compared to 2012. The capital budget for this year has been set at $3 billion. “The objective of our 2013 capital and operating plan is to increase total shareholder returns by unlocking net asset value an
DeepOcean Secures €125 Million Loan
DeepOcean Group has announced it has secured a new €125 million (USD 163 Mln) senior credit facility. The agreement consists of a €95 million senior secured revolving credit facility including an ancillary feature for performance guarantees and a €30 million senior secured term loan facility. Both t
DNV Supports Development of New Offshore Rig Concepts (USA)
DNV in North America is awarded a USD 3 million US Department of Energy funded RPSEA project to evaluate and support the development of two cost competitive dry tree semi-submersible rig concepts, suitable for the Gulf Of Mexico in a minimum of 8,000 foot water depth with drilling and production cap