The Gulf of Mexico saw an increase in piracy incidents in 2022 compared to 2021. This is according to Dryad Global Analyst Andrea Peniche Cobo, who told Rigzone that these incidents occurred mainly in the Bay of Campeche. When asked why this trend occurred, Cobo said that the period of Covid-19 led to an increase in the level of insecurity in Mexico. “While this took many forms throughout Mexico, in the Gulf of Mexico this meant a decrease in the level of security personnel in Mexican waters and around the platforms, a decrease in socioeconomic conditions, and an increase in…
Author: Automotivedealernews.com
Dolphin Drilling AS (OSE: DDRIL) has announced the acquisition of Paul B. Loyd Jr. semi-submersible rigs. and Transocean Leader for a total of $61.5 million “plus an additional $3 million.” Semisub-sub Paul B. Loyd Jr. is currently under contract with Harbor Energy in the United Kingdom, with a firm term expected to last until September 2024, while the Transocean Leader is currently stacked in the United Kingdom, Dolphin noted in a statement posted on its website. Dolphin also disclosed that it is considering a private placement of approximately $60 million to fund the offerings. Dolphin noted in the statement that…
Securing Energy for Europe Holding GMBH (SEFE) has signed a 20-year purchase of 2.25 million tonnes per annum (MMtpa) from Venture Global LNG Inc., in a deal touted to make the US company the largest supplier of liquids in Germany. natural gas (LNG) after a war-induced shift in Russian energy. The deal raises Germany’s subscription to Venture Global to 4.25 MMtpa of LNG over 20 years, which would make the Virginia state-owned company the main supplier of the fuel to Europe’s largest economy, according to a joint press release with SEFE last week. Energie Baden-Wuerttemberg AG (EnBW) previously signed a…
The wave of Permian corporate consolidations has continued unabated as spring turned into summer with public company buyouts of two private EnCap-funded Delaware Basin operators: Forge Energy, which was bought by Vital Energy for $540 million, and Novo Oil & Gas, which was bought by Earthstone Energy for $1.5 billion. While the theme hasn’t changed, the deal financing includes an intriguing new element: Northern Oil & Gas, which invests primarily in non-operating minority interests, partially financed the acquisitions by agreeing to take 30% and 33% of interests in the assets of purchasers Vital Energy and Earthstone Energy, respectively. In today’s…
Bumi Armada Berhad and Navigator Holdings Ltd. have signed an agreement to establish a 50-50 joint venture to provide transportation services for carbon capture and storage in the UK. Bluestreak CO2 Joint Venture “will design and implement a value chain of launch vessels that deliver to a floating carbon injection and storage unit,” a statement from Bumi Armada and its Nova-listed partner told Bursa Malaysia York announcing the non-binding agreement. “The CO2 [carbon dioxide] it is intended to be subsequently injected into offshore storage aquifers and/or depleted oil and gas reservoirs in a controlled manner with full monitoring and management…
Effective July 3, Sameer Parasnis will become executive vice president and chief financial officer of W&T Offshore, reporting to Tracy Krohn, president and CEO of W&T. The company noted in its statement that Parasnis has 25 years of financial and operational experience, of which 20 have been in banking. He has advised companies in the oil and gas and energy transition industries on equity capital markets, debt capital markets and strategic mergers and acquisitions. Prior to joining W&T, Parasnis served as managing director of the energy and energy transition team at Stifel Financial Corporation in Houston. He began his investment…
Trafigura Group Mexico oil and gas director Katia Eschenbach has left the company as nationalist energy policy in Latin America’s second-largest economy poses challenges for commercial companies. Eschenbach had led the company’s operations in Mexico for 12 years, aiming to capitalize on the country’s energy market overhaul under the previous administration, according to people with knowledge of the matter. Eschenbach did not return messages seeking comment and Trafigura said in a statement that it does not comment on personnel matters. Trafigura, one of the world’s largest commodities trading houses, is among a number of foreign companies that have faced difficulties…
Britain’s state church announced on Thursday that it is leaving oil and gas companies after its assessment found they have not aligned with the Paris Agreement, although it hopes for a return. The Church of England has faced increasing internal pressure in recent years to divest from fossil fuel companies. More than half of its 42 dioceses, which have their own investment bodies, have now pledged to exclude hydrocarbons from their investment portfolio, according to the Christian group Operation Noah, which has campaigned for these investment bodies stop financing oil and gas. The move brought forward on Thursday involves the…
The U.S. Department of Energy on Thursday unveiled more than $21 million in grants for the development of technologies and innovations that will advance the commercial-scale deployment of clean energy, with selected projects ranging from solar solutions to nuclear solutions. “This funding will address core commercialization challenges, while improving laboratory processes, creating accessibility to clean energy resources, and improving connections to underserved communities,” he said in a press release. “This investment brings our nation one step closer to the Biden-Harris Administration’s goal of reducing energy costs, creating good-paying, union-friendly jobs and deploying clean energy to achieve net zero carbon emissions…
Energy Drilling Pte. Ltd. (EDrill) is acquiring three bidding rigs it has already been operating in a deal expected to close in the third quarter. Seadrill Ltd. will transfer the T15, T16 and West Vencedor tender aid units to the Singapore company for about $85 million, the vendor said in a press release on Wednesday. Tender assistance platforms could be deployed for development drilling, well completion and plugging and abandonment. In announcing the definitive agreement, EDrill also said it has tied up a new shareholder in a deal that would help it raise funds to buy the rigs. EDrill has…