First 20,000-psi Rig Delivery by Year End and More

Here are some of Rigzone’s top upstream stories during the last week, just in case you missed them…

Transocean Sees First 20,000-psi Rig Delivery by Year End

Transocean reached an agreement with Sembcorp Marine unit Jurong Shipyard Pte to delay delivery and defer payments for a pair of newbuild, ultra-deepwater drillships. Transocean now expects a December 2021 delivery for the Deepwater Atlas and a May 2022 delivery for the Deepwater Titan.

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Oxy to Divest Permian Acreage in $508MM Deal

Occidental has agreed to sell non-strategic acreage in the Permian Basin to a Colgate Energy Partners III affiliate for $508 million. The acreage currently produces approximately 10,000 barrels of oil equivalent per day from roughly 360 active wells.

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McDermott Announces Leadership Change

McDermott International announced that its chief executive officer, David Dickson, has decided to resign. The company has appointed an interim chief executive officer, effective immediately.

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Chevron Awards GOM Drilling Contract

Chevron has awarded Valaris Limited a three-year contract securing a drilling unit in the U.S. Gulf of Mexico. The contract is expected to commence in the first quarter of 2022, directly continuing the drilling unit’s current contract.

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Is OPEC+ Intentionally Firing Up Prices?

The disconnect between its demand forecast and its supply call raises questions on whether OPEC+ is intentionally firing up prices or if some of the demand expectations are overstated, according to Rystad Energy’s Oil Markets Analyst Louise Dickson.

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Rig Remains Submerged After Incident

The Naga 7 rig remains submerged off the coast of Sarawak after an incident that took place last month, Velesto Energy revealed in its latest quarterly report. In the report, the company noted that the incident area was secured while the group works with insurance underwriters and the Protection & Indemnity Club on “the way forward”.

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To contact the author, email andreas.exarheas@rigzone.com