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People, Companies and Products

Schlumberger introduces Performance Live service

Schlumberger introduced Performance Live digitally connected service that optimizes remote wellsite operations control while improving safety, efficiency and footprint. The service includes technology and domain expertise within a digital ecosystem, leveraging cloud-based applications and automated data workflows through a secure and robust data network. The Performance Live service provides customers with instant access to data and collaboration with domain experts, enabling faster, more informed decision making for directional drilling, well logging, formation testing and other oil and gas operations. Automated end-to-end workflows simplify tasks that eliminate redundancy and deliver consistent service. In addition, the service increases operational safety and reduces carbon footprint with less travel and fewer personnel needed on location. “Performance Live service transforms the customer experience, enabling higher ...

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Kosmos Energy signs production prepayment agreement for up to $200 million

Kosmos Energy announced that it has entered into a crude oil prepayment agreement with Trafigura Trading LLC. The Prepayment Agreement provides up to $200 million of crude oil sales primarily related to a portion of the company’s 2022 and 2023 Gulf of Mexico production, with $150 million committed by Trafigura. Kosmos expects to execute $50 million of advance crude oil sales in June 2020. Later this year, following the completion of the prepayment agreement conditions subsequent, an additional $100-150 million of advance crude oil sales is expected, subject to finalizing additional commitments for $50 million. “At the start of the market downturn, Kosmos took decisive action to reduce costs, restructure hedges, and preserve liquidity. With this prepayment agreement, we have ...

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