GLG News by Offshore Drilling Rig Experts

Michael LynchConsultantMichael E. Lynch

Crude oil supply interruptions in unstable producing nations: A blessing in 2012?

January 20, 2012

Analysis of:Musings: The Challenge Facing Energy Demand in 2012 | www.rigzone.com

Watching volatile global stock markets for the last six months leads to a bipolar view of the market. The financial turmoil  is related to concerns that Western economies, burdened with excessive debt and high unemployment, may not be capable to cope with the many looming problems all at once. Governments have to finance retirement benefits for older workers at the same time that they must put the unemployed on the dole. What does this mean for crude oil markets?

Michael LynchConsultantMichael E. Lynch

Flurry of newbuild drilling rig deliveries in 2012 may dampen rig rates

January 20, 2012

Analysis of:2012 Newbuild Count drops | www.rigzone.com

During all of 2012, 35 offshore rigs will be delivered. These deliveries reflect orders placed between 2008 through 2010 at the depth of the economic downturn. Only 13 of the rigs have contracts. Twenty of the rigs are jackups. It is possible that shipyard delays and financing difficulties may delay some of the deliveries.

Michael LynchConsultantMichael E. Lynch

More than lower oil production plagues Tullow in African operations

January 20, 2012

Analysis of:Tullow Oil's 2011 Trading Update Fails to Impress | www.rigzone.com

Tullow Oil issued a disappointing trading update. Total revenue for 2011 is expected to be around $2.3 billion, more than double  2010. However,  analysts who follow Tullow had expected higher figures. Weakness in production rates appears to be across the board. The stock market reacted negatively.

Michael LynchConsultantMichael E. Lynch

South Sudan's first oil deals are highly speculative

January 19, 2012

Analysis of:South Sudan Signs First Oil Deals Since Independence | www.rigzone.com

South Sudan signed its first oil deals with Chinese and Malaysian firms. The China deal includes “economic and financial cooperation”. China National Petroleum has agreed to assist South Sudan to train personnel. China supports negotiations between the two Sudans regarding pipeline fees.

Michael LynchConsultantMichael E. Lynch

Australian explorers find natural gas and condensate near Paloma field

January 18, 2012

Analysis of:San Joaquin Paloma deep test flows gas condensate. | www.ogj.com

Neon Energy of Perth and Solimar Energy of Melbourne discovered a new Stevens Zone pay in the Paloma Deep Sidetrack-2.  The test went to 13,320 feet, into the Fruitvale shale west of giant Paloma field. Two production tests, inhibited by junk in the hole, flowed 1.9 million cubic feet/day and 226 bbl/day of condensate. Once the well bore is cleaned up, the companies plan to test the Paloma sands, Middle Stevens, Round Mountain, Lower Stevens, Fruitvale shale, Antelope shale, Lower Antelope shale, Tulare and Western Flank.

Michael LynchConsultantMichael E. Lynch

McMoran's five wells on the Louisiana shelf indicate a new subsalt province

January 12, 2012

Analysis of:McMoran Begins Drilling at La. Prospect, Updates GOM Ops | www.rigzone.com

McMoran is completing its Davy Jones No. 1 project with drilling underway at Blackbeard East, Lafitte and Blackbeard West No. 2. Since 2008, McMoran has drilled deep wells that test potential pay zones below the salt weld. The Middle and Lower Miocene, the Frio (Oligocene), Wilcox, Tuscaloosa and Cretaceous carbonates are all prospective. Davy Jones No.1 and No. 2 both found pay in the Wilcox.

Michael LynchConsultantMichael E. Lynch

Repsol buys into Sandridge redevelopment projects in Oklahoma and Kansas

January 12, 2012

Analysis of:Repsol buys into US unconventional hydrocarbons with Mississippi Lime JV | www.ogfj.com

As a part of its intention to convert from a natural gas company to an oil company, Sandridge acquired a large number of depleted oil fields in what is called the Mississippian lime play. Sandridge has aggressively sought partners to help pay for the redevelopment. Repsol has signed on.

Michael LynchConsultantMichael E. Lynch

Talisman joins the ranks of cautious E&P companies

January 12, 2012

Analysis of:Talisman Sets 2012 Spending Budget at ?4B | www.rigzone.com

Canadian oil and gas producer Talisman plans to reduce capital and exploratory spending in 2012 by $500 million. The company will focus on profitable liquids opportunities. Spending will amount to just over $4 billion. CEO John A. Manjoni remarked that the company’s plans have been shaped by continuing low natural gas prices in North America.

Michael LynchConsultantMichael E. Lynch

PDVSA may see 20 pending Orinoco suits come due all at once

January 5, 2012

Analysis of:Venezuela Seen Getting off lightly in $908M Exxon Payment | www.rigzone.com

The $908 million judgement against Petroleos de Venezuela will likely be followed by the ConocoPhillips’s claim and 19 other derivative suits. Another suit, also filed by ExxonMobil, could add fuel to the flame. Potential claims could run to billions of dollars and threaten Venezuela's sovereign debt. The verdict took four years but the other suits, having a precedent, will be settled faster.

Michael LynchConsultantMichael E. Lynch

Gazprom pushes South Stream now that North Stream is operating

January 5, 2012

Analysis of:Second Black Sea gas line a step closer | www.offshore-mag.com

The Russian government has made no secret of its intent to become Europe's most reliable supplier of natural gas. Then-President Vladimir Putin pushed hard to overcome obstacles and put the North Stream pipeline on production. With that mission accomplished, Putin is pushing just as hard for South Stream, which will run beneath the Black Sea and supply southern Europe.

Previous Page : 12345678910Next21 to 30 of 1641