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Atwood Oceanics announces contract extension for Atwood Orca jackup rig

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Atwood Oceanics announced that one of its subsidiaries has agreed to a four month extension on the jackup rig Atwood Orca with Mubadala Petroleum for drilling operations offshore Thailand. The new contract is at an undisclosed day rate that is higher than the current day rate, and it includes two four-month options that are priced at successively higher day rates than the new firm day rate...

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US total rig count drops by eight

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The US total rig count has dropped from last week’s 944 rigs to 936, according to the Baker Hughes weekly rig count. Onshore, the active rigs fell from 923 to 915, while offshore grew by one. Last year, there were 506 rigs drilling in the US. Of those, 482 were on land and 20 were offshore.

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Schlumberger announces digital well construction planning solution on Microsoft cloud

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Schlumberger has introduced DrillPlan digital well construction planning solution — the first step in the DELFI cognitive E&P environment. The DrillPlan solution is part of a fully integrated well construction offering, which transforms planning and execution performance, and enhances the efficiency and quality of every well drilled...

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Premier announces proposed sale of Wytch Farm interests

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Premier announced that it has entered into a sale and purchase agreement to sell its entire interests in licences PL089 and P534, which contain the Wytch Farm field, to Verus Petroleum for a cash consideration of $200 million (subject to certain customary financial adjustments) payable on completion. In addition, Premier will be able to release Letters of Credit totaling approximately $75 million that have been issued in relation to future decommissioning liabilities that are now being transferred to Verus. The effective date of the disposal is 1 July 2017. Wytch Farm is an onshore oil field located in Dorset, United Kingdom, that has been producing since 1979. Verus is a UK-focused independent E&P company backed by HitecVision, a Norway-based private equity investor ...

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