TOPICS OF INTEREST
One Quarter of the Global Floater Fleet Could Be Scrapped as COVID-19 Accelerates Restructuring
The number of units that have been cold stacked since 2016 are in the double digits. Reactivation costs for these rigs range from $40 million to $100 million. Given current rates and contract durations, most of these are unlikely to return to work.
OFS Companies’ Stock Price, EBITA Margins Hit Hard From COVID-19 Fallout
Two intelligence groups share similar views on how the fallout from the COVID-19 pandemic has impacted OFS companies’ valuations and operations.
Demand Declines for OCTG; US Suffers Biggest Hit
What are the impacts of the energy crunch on OCTG demand?
North Sea Contracts Granted to European Companies Ardyne and Allseas
Ardyne’s North Sea long-term contracts were for 175 wells with possibly more to follow, while Allseas contract is for removal and disposal for the Valhall complex.
Newly Formed JV To Provide Data-Driven Drilling Riser Maintenance Program
The data-driven maintenance program incorporates riser condition, usage, and fatigue analysis with a risk-based inspection process.
Neodrill and InterMoor Sign Global Agreement
InterMoor will support Neodrill with project execution, installation services, and business development of its conductor anchor node technology.
ModuSpec Divests From Lloyd’s Register, Becomes Independent Service Organization
ModuSpec, a drilling rig inspection, auditing, and training services company, re-emerges as an independent operating company following a strategic restructure of Lloyd’s Register. It will focus on the Middle East and Asia, as well as Egypt, Uganda, and Kenya.
Capital Discipline Drives E&P Sector as Investors Look for Better Returns
The E&P sector has maintained a strong focus on capital discipline during its recovery from the 2014 oil price downturn, as investors look for companies to generate free cash flow to help pay down debt. How will this focus affect sector growth in the near term?
Personnel Begin Reboarding Platforms After TS Barry
Offshore personnel are reboarding Gulf of Mexico platforms, oil and gas production begins recovery.
Slight Uptick in GOM Shut-Ins as TS Barry Continues Onshore
All 20 dynamically positioned rigs have returned to pre-storm locations. Operators' reports of evacuated personnel remain unchanged from yesterday.
70% Oil, 56% Gas Production Shut In as Barry Makes Landfall as Tropical Storm
The Gulf of Mexico disturbance, Barry, made landfall today near Intracoastal City, Louisiana, and weakened to a tropical storm.
Southwest Research Institute To Open Corrosion-Testing Facility
The laboratory will be used primarily to test the sulfide stress cracking resistance of carbon steel alloys for oil wells and offshore drilling applications.
RDS and Kavin Engineering Form Alliance To Design and Engineer Upstream and Midstream Projects
RDS, a KCA Deutag division, and Kavin Engineering and Services entered into a strategic alliance to jointly pursue design and engineering projects across the upstream and midstream oil and gas market. Last month, KCA Deutag agreed to form a joint venture with SOCAR.
CSB Report Reveals New Details, Lessons Learned From Macondo Incident
Several different factors contributed to the Macondo accident, according to an analysis by the CSB.
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08 January 2021
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12 January 2021
ITEMS OF NOTE
07 August 2018
20 July 2018
16 February 2018
18 December 2017
28 November 2017