Archer cutting 12-15% of global workforce and pays millions for UK redundancies
Drilling contractor Archer is to cut between 12-15% of its global workforce of 5,000 as a result of the oil price crash and Covid-19 pandemic.
Ithaca
US oil major is north-east decom centre’s maiden anchor partner
A US oil major that sold most of its UK offshore business last year has become an Aberdeenshire-based research centre’s first industrial “anchor partner”.
Trac Oil delivering ‘sustainable’ profits after ‘challenging’ period
Trac Oil and Gas’ boss has hailed the return to “sustainable” profit levels for the rope access inspection, repair and maintenance firm after several “challenging” years.
The North Sea: A bright future for those who embrace it
John F Kennedy once said: “Change is the law of life. And those who look only to the past or present are certain to miss the future.”
Delek CEO to retire at year end
An Israeli oil and gas firm which owns North Sea producer Ithaca Energy has announced that its chief executive will retire at the end of the year.
Efficiency drive giving companies more decom bang for their buck, report says
Companies are decommissioning more efficiently in the UK continental shelf (UKCS), allowing them to carry out more work for the same amount of investment.
Updated: Delek’s Ithaca completes Chevron North Sea deal
Israeli firm Delek Group's Aberdeen-based subsidiary, Ithaca Energy, has completed the acquisition of Chevron’s UK North Sea business.
Delek seeking funds from commodity traders to complete Chevron North Sea acquisition
A unit of Delek Group Ltd. is seeking alternative means of financing to complete its $2 billion acquisition of some of Chevron Corp.’s North Sea oil and gas assets after initial funding arrangements hit stumbling blocks, according to people familiar with the matter.
Subsea 7 gets the nod from Shell for Pierce job
Energy service firm Subsea 7 has won a contract worth tens of millions of pounds for Shell’s Pierce depressurisation project in the UK North Sea.
Total to drill Isabella exploration well this month
An exploration well is due to be drilled at the Total-operated Isabella well later this month.
Updated: Petrofac ‘well positioned’ for 2019 amid first-half profit
Energy services firm Petrofac said it was “well positioned” for the remainder of 2019, but warned of a drop in revenues ahead.
New tool to add ‘millions’ of barrels to North Sea production
A new tool has been launched which will help companies produce millions of extra barrels of oil through their North Sea operations.
Costain’s Aberdeen team busy with North Sea studies, but group profits plunge
Demand for studies from North Sea operators was not enough to stop profits plunging at UK infrastructure firm Costain in the first half.
Subsea pipeline due to be installed at Ithaca’s Cook field
A pipeline is expected to be installed next month as part of plans to revitalise Ithaca’s Cook field in the North Sea.
North Sea deals help boost turnover for Pinsent Masons
International law firm Pinsent Masons said yesterday it notched up turnover growth of 7% to £482 million during its 2018-19 trading year.
Ithaca launches £550m note offering as part of Chevron purchase
Aberdeen-headquartered Ithaca Energy has announced it is set to launched a debt finance offering of £558 million in senior notes in an effort to realise its acquisition of Chevron's North Sea business.
Ithaca to inject small company ethos into Chevron North Sea, CEO says
Ithaca Energy’s boss said he was looking forward to “injecting the small company ethos” into Chevron’s North Sea operations.
Updated: Complete UK exit ‘increasingly likely’ for Chevron, Woodmac says
A full exit from the UK is “increasingly likely” for US major Chevron following the sale of its central North Sea portfolio to Ithaca Energy, an analyst said yesterday.
Ithaca completes £228m Greater Stella acquisitions
Ithaca Energy has completed its acquisitions of stakes in the Greater Stella Area from Petrofac and Dyas.
Top lawyers supporting Scotland’s oil and gas industry recognised
Three north and north-east firms have been singled out for special praise in an annual review of the UK’s legal market.
Petrofac’s GSA exit will allow it to refocus on core business, says Westwood
Petrofac’s exit from the North Sea Greater Stella Area (GSA) will allow it to refocus on its core business, according to analysts Westwood Energy.
Energy deals steer Pinsent Masons to 6% jump in global turnover
International law firm Pinsent Masons has reported increased global turnover by 6% to £449.8 million.
Ithaca boosts production, plans to restructure debts in 2018
Ithaca Energy said today that the start up of the North Sea Stella field boosted production by 49% last year.
Ithaca shrinks board, Les Thomas continues as CEO
Ithaca Energy said today that its board had been thinned out following the North Sea oil producer's takeover by Israeli firm Delek Group.
Costain says oil and gas clients still keeping purse strings tight
Profits at construction and engineering firm Costain climbed 25% last year on the back of its “on-going transformation” efforts.