Monday, December 23, 2024

Petrobras, Diamond Offshore Settle Lawsuit

Diamond Offshore Drilling, Inc. (ticker: DO) and Petróleo Brasileiro S.A.-Petrobras (ticker: PBR) agreed on Thursday, January 4, 2018 to settle a pending lawsuit and amend the Ocean Valor drilling contract. In August 2016, a subsidiary of Diamond Offshore Drilling, Inc. received notice of termination from Petrobras of its drilling contract on the Ocean Valor. The drilling contract was originally estimated to conclude in

Ukraine Cuts its Natural Gas Royalty Rate to 12%

New law guarantees government won’t forcibly take assets On Dec. 30, 2017, Ukraine President Petro Poroshenko signed a new law reducing the natural gas royalty rate on all new wells drilled after Jan. 1, 2018 from 29% to 12%. “The Agreement for the Encouragement and Protection of Investment” ties Ukraine and the OPEC Fund for International Development (OFID) together in

Horizontal Drilling Sets a New Record

2018 rig count starts off down 5 The total number of rigs operating in the U.S. declined by five, ending the week at 924, according to the latest edition of Baker Hughes’ Weekly Rig Count. New drilling activity concentrated on unconventional operations, reversing the decline seen last week. Two horizontal rigs became active, while four directional and three vertical rigs

Callon Callon Petroleum Company Announces Closing Of Southern Midland Basin Divestiture And Updates 2019 Guidance Oil & Gas 360

A $5.5 Billion Private Giant in the Midland: Endeavor Energy Resources

At 44.1 MBOEPD, Endeavor Energy Resources is a private name which stands large in the Midland Basin The Permian Basin continues to be the hottest basin in the country, with companies piling in and investors willing to give them premium multiples. The play has become so desirable that general reading about the industry often feels like you’re sifting through “Permian