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Global and Regional Markets

Paragon announces agreement to be acquired by Borr Drilling

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Paragon Offshore announced that it has signed a tender offer agreement with Borr Drilling, a public limited company incorporated under the laws of Bermuda and listed on the Oslo Stock Exchange, pursuant to which, on the terms and subject to the conditions thereof, Borr has agreed to commence a tender offer to acquire all of the outstanding shares of the company at a purchase price of $42.28 per share...

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Noble Energy announces execution of gas sales agreements for export of gas to Egypt

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Noble Energy has announced that it has signed agreements to sell significant quantities of natural gas from the Leviathan and Tamar fields to Dolphinus Holdings to supply gas in Egypt. These agreements, one for natural gas from Leviathan and one for Tamar, each provide for total contract quantities of 1.15 trillion cu ft of natural gas. The natural gas is anticipated to supply industrial and petrochemical customers as well as future power generation in Egypt...

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Wood Mackenzie: Explorers’ success rates rise as ultra-deep and frontier basins deliver

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Explorers achieved significant success in 2017 as companies emerged from the downturn leaner and more focused on making smart portfolio decisions. The industry has made a return to high-impact exploration in ultra-deepwater and frontier basins after a period of focusing on low-risk, low-reward activity. Oil accounted for 56% of discovered volumes, a share last seen in 2008, with eight out of the top 10 discoveries being oil weighted...

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Total enters exploration in Guyana Basin with three exploration licenses

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Total has signed agreements to acquire interests into two exploration licenses offshore Guyana, the Canje Block and the Kanuku Block. These agreements come after entering into an option agreement for the nearby Orinduik Block. Subject to the approval of relevant authorities, Total will thus own exploration rights to an area covering over 12,000 sq km in the Guyana Basin...

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Deep Sea Mooring picks up Quadrant contract offshore Australia

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Deep Sea Mooring (DSM), a Vryhof company, has secured a contract with Quadrant Energy to provide turnkey pre-lay mooring solutions to the Transocean GSF Development Driller 1 semi-submersible drilling rig offshore Australia. The deal, a continuation of previous work for Quadrant Energy, begins in March 2018...

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Vantage Drilling announces contract for Topaz Driller

Vantage Drilling is mobilizing the Topaz Driller to work for Ophir in Thailand.

Vantage Drilling announced that it has entered into a contract with New Age Cameroon Offshore Petroleum for its premium jackup rig, the Topaz Driller, to perform drilling services in Cameroon for 150 days. “We are very pleased to announce this contract with New Age for the Topaz Driller in Cameroon,” said Ihab Toma, CEO of Vantage. “This contract will enable us to have two of our premium jackup rigs operating in West Africa after we mobilize the Topaz Driller from Asia to Cameroon. Our rigs and crews have proven and continue to prove to our clients that Vantage is a leader in safety and operational performance in the region. We look forward to commencing work for our esteemed client.”

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