Offshore rig day rates could surge to $500,000
It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid.
Rigs & Vessels
MAM launches to tackle LNG fuel’s methane slip problem
A new group is launching today with a focus on managing methane emissions in shipping, using LNG as a fuel.
APA scores first Suriname find in Block 53
APA Corp has discovered oil offshore Suriname on Block 53, while abandoning another well on Block 58.
Exxon racks up another two Guyana finds
ExxonMobil has made another two discoveries in the Stabroek block, bringing the total number of its finds offshore Guyana to more than 25.
Frontline, Euronav tweak terms in tanker tie-up plans
Frontline has struck a deal with Euronav for a potential merger, in an all share offer that would value each Euronav share at around $12.09.
NFE sets out Apollo venture, Mexico export hub plan
New Fortress Energy (NFE) has set out a plan to sell down its stakes in 11 LNG vessels and two deals in Mexico.
Shell buys into Total-spurned Gulf of Mexico project with Equinor
Shell is buying a 51% stake in the North Platte development, in the US Gulf of Mexico, from Equinor, the Norwegian company has revealed.
Offshore rig day rates heading for highest level in ‘almost a decade’
The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
Operators to retain whip hand in dayrate negotiations, Westwood projects
Westwood Global Energy Group expects rig demand to increase around the world but with no rapid increase in dayrates.
Canada approves Equinor’s Bay du Nord plan
The Canadian government has approved Equinor’s Bay du Nord project, albeit with the strongest ever greenhouse gas conditions.
Valaris wins $180m in contracts and extensions
Drilling rig operator Valaris has secured a series of new contracts and contract extensions worth some $181 million in backlog.
SBM wins FPSO work on Exxon’s Yellowtail
SBM Offshore has won work on the One Guyana vessel for ExxonMobil’s Yellowtail project, offshore Guyana.
Exxon seizes Yellowtail with fourth Guyana FID
ExxonMobil has taken its fourth final investment decision (FID) in Guyana on the Yellowtail project.
Noble execs get top billing with Maersk Drilling merger
Noble Corp. and Maersk Drilling have set out the executive team that will lead the new company, confirming Noble’s Robert Eifler as president and CEO.
Trinidadian fishing crew rescued by offshore support vessel
A crew of Trinidadian fisherman were rescued by Siem Offshore’s subsea vessel Siem Spearfish early on Sunday morning.
Valaris drillship collides with carrier
A Valaris drillship has broken free of its moorings and collided with a carrier vessel while docked in Mississippi.
Nine workers rescued from burning jack-up rig
The US Coast Guard came to the aid of nine oil workers trapped on a burning jack-up rig in Texas yesterday.
Valaris warns costly rig reactivations await after 2021 results
Offshore driller Valaris (NYSE: VAL) said its “transitional period” post-Chapter 11 bankruptcy will continue into the second quarter of this year as it deals with costly rig reactivations.
Stranded sailor swims five hours to oil platform after chance meeting with seal
A Californian man who toppled out of his boat in the middle of the night was able to swim to a nearby oil platform thanks to the help of a kind-hearted seal.
TotalEnergies scores another Suriname strike
TotalEnergies and APA Corp. have made a “significant” oil and associated gas discovery offshore Suriname, on Block 58.
The Essential Guide to Suriname Energy Investment
The Suriname-Guyana basin continues to be a focal point for hydrocarbon exploration and development, as evidenced by CGX Energy’s recent discovery at the Corentyne block, in line with Suriname’s Block 58. Indeed as frontier E&P remains at a comparatively low ebb, this represents one of few global hotspots, with an estimated 16bn barrels of recoverable resources discovered to date.
BW sends Brazilian FPSO to Indian yard for scrap
BW Offshore has signed a deal to recycle its BW Cidade de São Vicente at a yard in India, in compliance with the Hong Kong International Convention.
TotalEnergies to keep Maersk Valiant for more offshore Suriname
TotalEnergies has chosen to exercise an option with Maersk Drilling for another well in Block 58, offshore Suriname.
Saipem wins $1.1bn of offshore work in Australia, Guyana
Saipem has won two new offshore contracts, in Australia and Guyana, worth $1.1 billion, on the Scarborough and Yellowtail projects respectively.
Malaysia’s Yinson wins Brazil FPSO deal
Malaysia’s Yinson, an energy infrastructure and technology company, will provide a floating storage and offloading (FPSO) vessel to Enauta Energia for use at the Atlanta field in the Santos basin offshore Brazil in a deal worth at least $505 million.