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Seadrill announces three year contract extensions for jackups AOD I and AOD II

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Seadrill has received three-year contract extensions from Saudi Aramco for the jack-ups AOD I and AOD II expiring in June 2019 and July 2019, respectively. The extensions are in direct continuation of the current contracts and will add approximately $225 million in contract backlog. These units have been working for Saudi Aramco since 2013 and Seadrill is pleased to continue its long-term relationship with Saudi Aramco. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Wood Mackenzie: US Lower 48 alone sustains $150 billion in CAPEX cuts to 2017

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Of the more than $370 billion in global capital expenditure cut by upstream developers across 2016 and 2017, $150 billion was slashed in the US Lower 48 alone — more than three times any other single country, according to the latest Wood Mackenzie analysis. The swiftness and scale of the cuts by US operators in the Lower 48 is largely due to shorter lead times and the less capital-intensive nature of the US unconventional space.

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Noble Energy commences production at Gunflint in deepwater Gulf of Mexico

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Noble Energy announced that it has recently commenced production at the company's Gunflint oil development in the deepwater Gulf of Mexico. The two-well field is ramping up and is anticipated to reach a minimum gross production of 20,000 BOE/day, with oil representing approximately 75% of the volumes produced. The net amount to Noble Energy is expected to be at least 5 BOE/day, with potential for additional volumes dependent upon available capacity at the third-party host facility. The Gunflint development, located at Mississippi Canyon Block 948, is a subsea tie-back to the Gulfstar One facility owned by Williams Partners and Marubeni Corporation.

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New subsea capping system targets improved portability

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Boots & Coots Services, a Halliburton business, announced that it has developed the Global Rapid Intervention Package (GRIP), a suite of services to help reduce costs and deployment time in the event of subsea well control events. GRIP provides well planning and well kill capabilities facilitated by the company’s global logistics infrastructure and existing product service lines. This includes both an inventory of well test packages, coiled tubing units and relief well ranging tools.

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