offshore drilling – Oil & Gas 360

Tullow Oil confirms talks with Kosmos Energy over potential all-share takeover

December 13, 2024

(Yahoo Finance) – Kosmos Energy has confirmed that it is in “preliminary discussion” with Tullow Oil, an independent oil and gas exploration company, regarding a potential all-share takeover offer. The announcement follows recent media reports speculating about the deal. Tullow Oil, which has faced leadership changes following the resignation of CEO Rahul Dhir on 4 December, acknowledged the approach in

Namibia to begin offshore drilling at Galp Energia oil discovery site

October 23, 2024

(World Oil) – Namibia’s next wave of offshore oil drilling is set to begin with the arrival of a rig near an existing discovery made by Galp Energia SGPS S.A. Saipem SpA’s Santorini drillship showing a destination of “Mopane,” the name of the find made by Galp, arrived at the site of the field early on Wednesday, according to ship

Houston-based offshore driller Helix Energy Solutions evaluates potential sale amid market interest

October 4, 2024

(World Oil) – Helix Energy Solutions Group Inc. is exploring strategic options, including a potential sale, people familiar with the matter said. The Houston-based offshore drilling services provider is working with advisers to gauge interest from potential buyers, according to the people, who asked not to be identified discussing confidential information. Shares in Helix rose as much as 10.4% on Thursday.

The offshore drilling market is booming again

December 27, 2022

Oil Price Demand for offshore rigs for overseas drilling has soared this year even as U.S. oil-rig growth has plateaued. According to Baker Hughes, there are now 622 oil rigs operating in the U.S., down from the 683 in operation in March of 2020 at the onset of the pandemic and unchanged from six weeks ago. This has caused day

Argentina moving forward with offshore drilling despite protests

January 7, 2022

Oil Now (S&P Global Platts) Argentina plans to push forward on its first new offshore exploration drilling in years despite social protests, a government official said Jan. 6, arguing that the dangers of spills are low, and that oil and natural gas demand will remain steady over the next two to three decades as the world transitions to net-zero greenhouse

Maersk Drilling launches Horizon56 to drive offshore digitalization

December 21, 2021

World Oil For the past two years, Maersk Drilling has spearheaded an innovative effort to develop a first-of-a-kind product to support digitalization of offshore drilling processes. The solution, known as RigFlow, has now been segregated into the digitally focused company named Horizon56 A/S to drive further development and commercialization. Horizon56 has been founded as a fully-owned Maersk Drilling subsidiary, with

Analysis: CNOOC needs to double down on drilling and deals in carbon-cutting gas pivot

March 12, 2021

Reuters SINGAPORE/BEIJING – A rapid rise in offshore drilling and deepwater gas extraction may seem an unlikely path to lower emissions, but are central planks of Chinese energy major CNOOC Ltd’s plan to help hit Beijing’s climate goals. While global peers like BP, Royal Dutch Shell have announced cuts in hydrocarbon output and huge renewable energy investments to cut emissions,

Trump administration encourages offshore drilling in final energy push

December 4, 2020

Reuters NEW YORK – The U.S. Bureau of Safety and Environment Enforcement, which overseas offshore oil and gas production, said it will consider lower royalty payments for producers that invest in projects to enable existing platforms to reach their full capacity. The move to offer royalty relief comes in the final months of the Trump administration, and follows similar policy

Investors cheer falling production costs at Brazil’s Petrobras

October 25, 2019

Reuters RIO DE JANEIRO (Reuters) – Investors cheered a significant cut in production costs at Brazil’s state-run oil firm Petrobras on Friday, sending shares in the company soaring 4% in morning trade, their biggest intraday gain in more than a month. In its third-quarter results released on Thursday night, the company said production costs in a key offshore oil area

W&T Offshore Says Apparent High Bidder on 15 Blocks in GOM Lease Sale

March 25, 2019

W&T Offshore Announces Increase in Prospective Acreage as the Apparent High Bidder on 15 Blocks in the Latest Gulf of Mexico Lease Sale

Talos Energy High Bidder on 6 Deepwater, 8 Shallow Water GOM Lease Sale Blocks

August 16, 2018

Houston-based Talos Energy Inc. (NYSE: TALO) was a top five bidder in the recent Gulf of Mexico lease sale held by the Bureau of Ocean Energy Management (BOEM) on August 15, 2018. Talos was the high bidder on six deepwater and eight shallow water blocks. Talos had 100% success rate on all 14 blocks it bid on. These blocks cover approximately 75,000

New Bill to Block Offshore Drilling

July 18, 2018

From The Hill House lawmakers in both parties are hoping to use a spending bill to block offshore oil and natural gas drilling in the waterways off their states’ coasts. A handful of lawmakers, mainly from coastal states, are sponsoring proposed amendments to the annual appropriations bill for the Interior Department and the Environmental Protection Agency (EPA) that would block

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