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Velesto Provides Update on Sunken Rig

Industry Headlines

Rig Sinks and More Share your comments
Saturday, May 08, 2021Here are some of Rigzone's top upstream stories during the last week, just in case you missed them...

Oil Prices Finish Week Higher Amid Summer Demand Optimism Share your comments
Friday, May 07, 2021Oil futures edged upward Friday and posted a gain for the week.

Oil and Gas Industry Success Fuels Energy Transition Share your comments
Friday, May 07, 2021Rigzone reviews some oil and gas market hits and misses for the week ending May 7, 2021.

Big Oil Braces for Climate Votes Share your comments
Friday, May 07, 2021As Europe's oil majors prepare to host their annual shareholder meetings, one topic is garnering almost all the attention.

Oil Heads for Back to Back Weekly Gain Share your comments
Friday, May 07, 2021Oil headed for a second straight weekly advance as investors bet on rising energy demand amid a broader rally in commodities.

Analysts Raise 2021 Oil Price Forecast Share your comments
Friday, May 07, 2021Analysts at Fitch Solutions Country Risk & Industry Research have raised their average Brent oil price forecast for 2021.

Velesto Provides Update on Sunken Rig Share your comments
Friday, May 07, 2021Velesto Energy Berhad has provided an update on the Velesto Naga 7 rig, which was revealed to have submerged on May 4.

Oil Prices Decline Amid Uneven Recovery Signs Share your comments
Thursday, May 06, 2021Oil declined amid the coronavirus crisis in India and a slowing demand rebound in the USA.

Gulf Coast LNG Players Pursue Risky Carbon Capture Route Share your comments
Thursday, May 06, 2021They are seeking to burnish their green credentials via a costly and largely untested technology.


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Exploration

Baker Hughes USA and Canada Rig Counts Increase Share your comments
Saturday, May 08, 2021Baker Hughes reported increases in the number of rotary drilling rigs operating in the United States and Canada.

Chevron Awards GOM Services Contract Share your comments
Friday, May 07, 2021Worley will establish a subsea tieback development scheme for the Ballymore field.

Canadian Firm Spuds Onshore Namibia Well Share your comments
Thursday, May 06, 2021ReconAfrica has begun drilling its second well in the Kavango Basin in northeastern Namibia.

Haynesville Shale Operator Awards Gas Frac Fleet Contract Share your comments
Wednesday, May 05, 2021The 100% natural gas-fueled frac fleet deployment is slated to begin in early 2022.

Offshore Drilling Contractor Completes Reorganization Share your comments
Tuesday, May 04, 2021Valaris Limited has emerged from Chapter 11 bankruptcy.

Baker Hughes Posts Gain in USA Drilling Rigs Share your comments
Saturday, May 01, 2021The active USA rotary rig fleet increased by two this week.

Offshore China Well Contract Goes to AGR Share your comments
Friday, April 30, 2021AGR will assist with well planning and engineering.


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Production

BHP Caribbean Project Starts Production Share your comments
Friday, May 07, 2021The shallow-water project is located within the Greater Angostura Field.

Seadrill Wins Contract to Support Pioneering GOM Project Share your comments
Thursday, May 06, 2021Talos Energy has contracted a Seadrill drillship for the Tornado Attic well in the deepwater Gulf of Mexico.

Total Brings Offshore Angola Project Online Share your comments
Thursday, May 06, 2021Total (NYSE: TOT) has announced the start of production from the Zinia Phase 2 short-cycle project offshore Angola.

Baker Hughes Wins Brazil Subsea Contract Share your comments
Tuesday, May 04, 2021Petrobras has awarded Baker Hughes a subsea oilfield equipment contract. PHOTO SOURCE: Baker Hughes

TX Freeze Hurts Supply More than Previously Thought Share your comments
Monday, May 03, 2021An Arctic cold blast that swept through the U.S. South in February caused a much bigger loss in oil supply than previously estimated.

Equinor Advances Unmanned North Sea Platform Project Share your comments
Thursday, April 29, 2021Equinor will use ABB know-how to develop next-generation autonomous oil and gas platforms.


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Finance and Investing

SLB-Backed Arabian Drilling Planning Saudi IPO Share your comments
Tuesday, May 04, 2021Arabian Drilling Co is preparing an initial public offering that could give it a valuation of around $2 billion, according to people familiar with the matter.

Exxon Earns $2.7B in First Quarter Share your comments
Monday, May 03, 2021Exxon Mobil Corporation (NYSE: XOM) has announced estimated first quarter 2021 earnings of $2.7 billion.

Chevron Posts Bumper Cash Flow Share your comments
Friday, April 30, 2021Chevron Corp. generated the most free cash flow since the pandemic emerged as economies clawing their way out of more than a year of lockdowns and paralysis burn more fuel.

Total Profit up to Pre-Pandemic Levels Share your comments
Thursday, April 29, 2021Total SE's profit surged by more than expected in the first quarter, making it the latest oil major to see earnings return to pre-pandemic levels.

Shell Profit Surges More Than Expected Share your comments
Thursday, April 29, 2021Royal Dutch Shell Plc took the opportunity to pay down its heavy debt burden as profit surged by more than expected in the first quarter.

Big Oil Sees Cash Rolling In Share your comments
Monday, April 26, 2021After one of the most difficult years in the oil industry's history, crude prices have recovered and major producers are finally generating spare cash.


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Company Operations

Petronas Galeri Ceases Operations Share your comments
Sunday, May 09, 2021Petronas has announced that Galeri Petronas has ceased to operate as a public gallery following a realignment of its operating model to adapt to the changes brought about by the Covid-19 pandemic.

Applications Open for North Sea Greenhand Program Share your comments
Friday, May 07, 2021Recruitment company Atlas Professionals is now accepting applications for its Greenhand Program.

Marathon Drops Aircraft Leases and Boosts Debt Focus Share your comments
Thursday, May 06, 2021Marathon Oil Corp. is giving up its corporate aircraft as the shale driller escalates cost cuts.

$2.9B Deal to Expand Marcellus Presence for EQT Share your comments
Thursday, May 06, 2021EQT's CEO said the deal marks "an attractive entry into the Northeast Marcellus."

Shelf Drilling Bags New Deals Share your comments
Thursday, May 06, 2021Shelf Drilling, Ltd. (OSE: SHLF) announced Thursday that it has secured a ten-year contract extension for the High Island IX jack-up rig in direct continuation of its current contract in the Arabian Gulf.

Noble Corporation Optimistic on Market Outlook Share your comments
Thursday, May 06, 2021Noble Corporation is optimistic about the market outlook, according to Robert W. Eifler, the president and chief executive officer of the company.

Chevron Hokkaido Deal Marks Asia-Pacific LNG Shift Share your comments
Wednesday, May 05, 2021Buyers in the region have gained considerable contractual leverage over producers.


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