In support of President Donald J. Trump's America First Offshore Energy Strategy, Deputy Secretary of the Interior David Bernhardt announced that the Bureau of Ocean Energy Management (BOEM) will offer approximately 78 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida for oil and gas exploration and development...

ADES has signed a definitive agreement with Weatherford for the acquisition of 31 onshore drilling rigs for a purchase price of $287.5 million, in line with its strategy to strengthen its onshore capabilities. The transaction will be financed through a combination of cash and secured debt instruments and is expected to close in the second half of 2018, subject to customary closing conditions agreed upon in the agreement. As part of the transaction, ADES will acquire Weatherford’s onshore drilling operations, including its associated assets, contracts, management systems and approximately 2,300 employees and contract personnel spread across Algeria, Kuwait and Saudi Arabia, where Weatherford has built a substantial presence and track record that will enable ADES to expand its presence across attractive ...

The Oil and Gas Authority (OGA) has launched the 31st Offshore Licensing Round, offering blocks in frontier areas of the UK Continental Shelf (UKCS), supported by government-funded data to stimulate interest in these under-explored basins and assist companies in their activities...

Precision Drilling has announced the award of one newbuild ST-3000 drilling rig in Kuwait under a five year take-or-pay contract with an optional one-year extension. Precision has five active rigs in Kuwait on long-term contract and expects the sixth rig to commence operations in Q3 2019. All six rigs have standardized rig design features and specifications and were delivered within the last five years. In line with prior newbuilds, the rig has internal return metrics and a payback period within the initial contract term. The rig addition allows the company to leverage its existing scale in country with no additional overhead required to support the expanded fleet. Capital cost for the newbuild is approximately $60 million, with approximately $10 million expected to be ...

Lundin Petroleum has announced that overall reservoir results from its development drilling program at the Edvard Grieg field – located on the Utsira High in the Norwegian North Sea – have exceeded pre-drill expectations...

After conducting a review of its global portfolio to determine if its assets are strategic and competitive for future capital, Chevron has decided to market all its UK Central North Sea assets for sale...

BP has entered agreements to acquire from ConocoPhillips a 16.5% interest in the BP-operated Clair field, west of Shetland in the UK, and to sell to ConocoPhillips its entire 39.2% interest in the Greater Kuparuk Area on Alaska’s North Slope and holding in the Kuparuk Transportation Company...

Equinor has awarded Nexans a contract to provide 27 km of complex umbilicals with power, fiber optic and hydraulic elements for subsea systems in the third development phase for the Troll oil and gas field...

TechnipFMC has been awarded a contract by Total E&P Angola for the Zinia Phase 2 field development, located offshore Angola at a water depth between 800 m and 1,000 m...

Shelf Drilling has entered into a definitive agreement with subsidiaries of Diamond Offshore to purchase the Ocean Scepter jackup drilling rig...