Abu Dhabi-based Gulf Marine Services (GMS) has turned down a USD 32 million takeover offer from Seafox International saying that the offer ”fundamentally undervalues GMS”. As reported earlier, Seafox submitted an unsolicited and non-binding possible cash offer for the entire issued and to be issued
The worldwide offshore rig count in April 2020 has dropped 28 rigs year-over-year and 19 rigs sequentially, according to rig count reports by Baker Hughes Company.
ExxonMobil booked a quarterly loss due to asset impairments amid lower oil prices while its production was up by 2 per cent.
Shipowning company Ocean Yield and Solstad Offshore have agreed to further extend the standstill period for two anchor handlers.
Chevron booked a larger profit in the first quarter of 2020 compared to the same period last year.
German oil and gas company Wintershall Dea has received consent from the offshore safety body, the Petroleum Safety Authority (PSA), for production drilling and completion on the Nova field using the West Mira drilling rig.
The joint proposal from MENCK and LM Handling, both Acteon Group companies, has been selected to support piling operations for a platform installation off the coast of Trinidad and Tobago.
The U.S. active offshore rig count last week dropped by one unit compared to the previous week, Baker Hughes Company said on Friday in its weekly rig count report.
The UK Oil & Gas Authority (OGA) has approved IOG’s field development plan for the Core Project Phase 1 located in the UK North Sea.
FAR Limited has said it is unlikely it will be able to finance its part of the Sangomar project development in Senegal. Therefore, FAR has started a process to sell all or part of its working interest in the project.
Rockhopper Exploration and Premier Oil, partners in the Sea Lion project located offshore the Falkland Islands, have agreed to extend the exclusivity period to Navitas Petroleum, further closing in on a definitive Sea Lion farm-out.
Singapore’s independent oil and gas company KrisEnergy has entered into a credit facility agreement with Kepinvest Singapore to fund the near-term development project in Cambodia’s offshore Block A.
Australia’s largest LNG player Woodside expects low oil and gas prices to continue for the rest of 2020 and into next year due to the Covid-19 coronavirus pandemic. Cripling worldwide demand caused by the Covid-19 restrictions has seen oil, gas and LNG prices at its lowest levels for decades. Demand
ConocoPhillips went from a profit in the first quarter last year to a loss in the same period of 2020 after being hit by impairment charges and lower oil and gas prices.
