Fossil Energy
More than half of 2020’s licensing rounds at risk of cancellation, Rystad says
The effect of the COVID-19 pandemic and the ongoing oil price war will likely cause the cancellation of more than half of the world’s planned licensing rounds, according to energy intelligence firm Rystad Energy.
Lundin extends credit line as exploration costs and forex loss creep in
Lundin Energy has secured a further credit commitment to provide the company with further financing flexibility amid expected exploration costs of $28 million and forex loss of $359 million in 1Q 2020.
Hurricane confirms ‘extraordinary productivity’ at Lancaster
Hurricane Energy has confirmed the “extraordinary productivity” of two wells and the reservoir at its Lancaster EPS, located in the West of Shetland area.
Total picks eDrilling for well construction planning technologies
eDrilling, a supplier of AI, machine learning, and predictive analytics solutions to the oil and gas industry, has been awarded a contract by French oil major Total for its well construction planning technologies.
Spirit taps Three60 for modification and repair services in UK
Energy services group Three60 Energy has won a framework contract to deliver engineering and support services for minor modification and repair services on Spirit Energy’s UKCS assets.
Borr Drilling gets early terminations but also new drilling contracts
Borr Drilling has received notices of early termination for several of its drilling rig contracts, but it has also been awarded new contracts for its rigs.
Saipem takes over lay barge from Solstad Offshore
Norwegian vessel owner Solstad Offshore has delivered its DLB Norce Endeavour lay pipe barge to Italian oilfield contractor Saipem.
Historic OPEC+ deal to slash output ends oil price war
After four days of negotiations OPEC, Russia, and allies have agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic.
Saipem confirms death on FDS vessel not linked to coronavirus
A worker has died onboard the Saipem FDS vessel, currently located in the port district of Waalhaven in Rotterdam. While the death was initially suspected to be linked to the coronavirus, Dutch authorities have confirmed it has occurred due to natural causes.
Pacific Drilling’s NYSE listing at risk from suspension
Pacific Drilling has received notice from the New York Stock Exchange (NYSE) stating that the company does not currently satisfy the minimum share price standard for continued listing of the company’s common shares.
On the verge of ending oil price war, OPEC+ awaits Mexico to join the pact
OPEC, Russia, and allies are on the verge of ending the oil price war in an effort to save the oil industry which, in addition to the oil price war consequences, suffered even more as the coronavirus pandemic further curbed the oil demand, creating a whirlwind of adverse effects. However, the allies
GALLERY: Lukoil readies jacket for Caspian Sea
Russia’s Lukoil has moved on to the next stage of facilities construction for the Valery Grayfer field with the launch of a jacket for the living quarters platform from a yard to the Caspian Sea.
Oil price war and coronavirus bite into Noble’s rig contracts
The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and d
Equinor farms out two Norwegian licences to Lime Petroleum
Lime Petroleum has signed an agreement with Equinor to acquire 20 per cent interests in each of the licences PL263D and PL263E located in the Norwegian Sea.