#oilfield Midland-based Colgate Energy said this week it is continuing expansion in Delaware Basin by agreeing to purchase from an undisclosed seller about 22,000 net acres in Eddy and Lea counties in New Mexico for $190 million. The majority of the assets directly offset Colgate’s legacy Parkway operating area with current average net daily production […]
oilfield Transocean Ltd. (NYSE: RIG) has announced that it has been awarded two contracts, which, on aggregate, contribute approximately $55.5 million in backlog. The company noted that the Deepwater Conqueror was awarded a one well deal with a “major operator” in the U.S. Gulf of Mexico. The value of this contract adds approximately 85 days and $28.5 million in backlog, according to Transocean. The Deepwater […]
#drilling,#oilfield,#roughneck,#rig,#oilfieldcowboy After offshore drillers Maersk Drilling and Noble Corporation announced their intent to merge, a Noble shareholder stated that it would vote against such a move. In a mutual statement, Maersk Drilling and Noble Corp. shareholders said that the shares of the combined company would be distributed 50-50 between the current shareholders of the two […]
#oilfield,#drilling rig,#offshore,#oilfieldcowboy,#roughneck Two offshore drilling contractors, Maersk Drilling and Noble Corporation, have agreed to create a combined company with a fleet of 20 floaters and 19 jack-up rigs via a primarily all-stock transaction. According to a mutual statement, Maersk Drilling and Noble Corp. shareholders will each own approximately 50 percent of the outstanding shares of […]
#oilfield #oilfieldlife #drilling #roughneck (Bloomberg) — A potential release from the U.S. Strategic Petroleum Reserve intended to bring down gasoline prices may have little effect, oil market participants warn, even as the Biden administration floats the idea as a way to provide immediate relief at the pump. U.S. President Joe Biden “is looking at” releasing […]