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Devon Energy announces $340 million of non-core asset sales

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Devon Energy announced it has entered into a definitive agreement to monetize its Lavaca County assets in the Eagle Ford play. Combined with other minor asset sales completed across its US operations, proceeds from the company’s recently announced $1 billion divestiture program have now reached $340 million. The Lavaca County transaction is subject to customary terms and conditions and is expected to close by the end of 2017. “These highly accretive asset sales are an important step in executing on our $1 billion divestiture program over the next year,” Dave Hager, President and CEO, said. “The divestiture proceeds will further strengthen our investment-grade financial position and provide us additional flexibility to build operational momentum across our top-tier US resource plays.” ...

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US land rig count hits 931

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The US land rig count reached 931 today, a seven-rig increase from last week, according to the Baker Hughes weekly rig count. The number of rigs drilling offshore in the US increased by one this week, hitting 24. This puts the total US rig count at 958. There are now 766 rigs in the US drilling for oil and 192 drilling for gas.

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6 drilling contractors to participate in GOM cyber-themed table top exercise

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Six drilling contractors – Diamond Offshore, Helmerich & Payne, Nabors, Noble, Parker Drilling, and Rowan – will be joining more than 30 other organizations in a cyber-themed table top exercise on 8 August at the New Orleans office of the US Bureau of Safety and Environmental Enforcement (BSEE). The cyber exercise is geared toward port and maritime stakeholders. It is being coordinated among the Maritime and Port Security Information Sharing and Analysis Organization (MPS-ISAO), the Department of Homeland Security’s National Cyber Exercise and Planning Program (NCEPP), and the US Coast Guard Outer Continental Shelf Division with its Area Maritime Security Committee’s Exercise Team...

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US land rig count falls by four, offshore grows by two

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The number of land rigs drilling for oil and gas in the US fell by four this week, according to the Baker Hughes weekly rig count. There are now 924 land rigs. Meanwhile, this week saw an increase of two rigs offshore, growing from 21 to 23 rigs. This puts the total US rig count at 950. Last year at this time, there were only 462 rigs drilling in the US.

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