Archive | Global and Regional Markets

API Spec Q2 aims to standardize risk mitigation, improve service reliability

Posted on 12 February 2014 in 2014, Drilling It Safely, Global and Regional Markets, News

An industrywide collaboration is pushing to standardize expectations for drilling services with a risk management-based system. Although development of API Spec Q2 began…

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Maersk Completer secures four-year contract with Brunei Shell

Posted on 12 February 2014 in Global and Regional Markets, News, The Offshore Frontier

Brunei Shell Petroleum has awarded Maersk Drilling a four-year contract for the jackup Maersk Completer for operation offshore Brunei in Southeast Asia. The contract commences…

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UMW Drilling orders KFELS jackup, delivery expected in Q3 2015

Posted on 06 February 2014 in Global and Regional Markets, News, The Offshore Frontier

UMW Drilling, a wholly owned subsidiary of UMW Oil & Gas, has awarded Keppel FELS, a subsidiary of Keppel Offshore & Marine (Keppel O&M), a contract for a KFELS B Class jackup…

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Ensco sells two jackups for $33 million

Posted on 05 February 2014 in Global and Regional Markets, News

Ensco has sold its two remaining cold-stacked jackups for $33 million. The net book value of the two rigs, ENSCO 69 and Wisconsin, both built in 1976, was approximately…

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Noble names Stilley CEO of spinoff company Paragon Offshore

Posted on 05 February 2014 in Global and Regional Markets, News

Randall D. Stilley will serve as president and CEO of Noble Corp’s spinoff company Paragon Offshore, a standard specification offshore drilling company, Noble recently…

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BP awards KCA Deutag $220 million contract for newbuilds

Posted on 03 February 2014 in Global and Regional Markets, News

BP has awarded KCA Deutag a five-year, $220-million contract for the construction and operation of three fast-moving land rigs in Oman. Including options, the contract is valued…

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Survey ranks US, Brazil as top investment markets but raises concerns for costs, risks

Posted on 03 February 2014 in Global and Regional Markets, News

The US and Brazil rank as the most favorable regions for oil and gas investment in 2014, but there will be pressures to reduce costs and consolidate, a new report from DNV…

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Texas Petro Index: Statewide oil production up 21% in 2013

Posted on 30 January 2014 in Global and Regional Markets, News

Texas oil and gas producers achieved one of the upstream industry’s most successful years in 2013, according to the Texas Petro Index (TPI), as statewide crude oil production grew…

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Analyst: Shale oil won’t threaten deepwater, but rising costs, oil prices might

Posted on 29 January 2014 in Global and Regional Markets, News

The boom in US oil shale production is not a threat to deepwater, an energy industry expert said, but rising costs and relatively flat oil prices will continue to…

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Unconventionals may see first impact of Mexican energy reform

Posted on 29 January 2014 in Global and Regional Markets, News

The sweeping energy reform bill passed by Mexico’s legislature in December will be followed by secondary legislation addressing the framework for…

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