Industry News

Maersk Drilling has been awarded contracts with Shell for the Maersk Voyager drillship for drilling services offshore multiple countries. The contracts are expected to commence in April 2022 and last for one year. The total contract value is approximately $107.5 million. The contracts include an additional one-year option.As part of the deals, Maersk Drilling and Shell have agreed to implement the RigFlow solution delivered by Maersk Drilling subsidiary Horizon56. RigFlow standardizes and digitalizes the core workflows involved in well construction, including real-time exchange of information between onshore planning units, the offshore drilling teams, and the service companies supporting the operations.“This

Nabors Industries added to its clean energy portfolio with an $8 million investment in geothermal technology company GA Drilling.GA Drilling is a pioneer in plasma drilling. By integrating its iPLASMABIT drilling tool into Nabors’ automated and lower-emission drilling operations, the collaboration aims to accelerate field commercialization and eliminate traditional economic barriers of ultradeep projects to expand global access to geothermal energy. This agreement complements the pre-series investment round recently concluded by GA Drilling, with the total value of those new investments exceeding $20 million.GA Drilling joins Nabors’ geothermal ecosystem, which is comprised of three other prior venture investments in geothermal

Shell announced the start of production at PowerNap, a subsea development in the US Gulf of Mexico with an estimated peak production of 20,000 BOED. PowerNap is a tieback to the Shell-operated Olympus production hub in the prolific Mars Corridor.“Shell has been producing in the Mars Corridor for more than 25 years, and we continue to find ways to unlock even more value there,” said Zoe Yujnovich, Shell Upstream Director. “PowerNap strengthens a core upstream position that is critical to achieving our ‘Powering Progress’ strategy and ensuring we can supply the stable, secure energy resources the world needs today and

Murphy Oil and its partners ExxonMobil and Enauta Energia announced that drilling has concluded at the Cutthroat-1 exploration well in block SEAL-M-428 in the Sergipe-Alagoas Basin offshore Brazil.While the presence of hydrocarbons was not found, the partner group will continue to integrate the exploration well data into its regional subsurface interpretation efforts to better understand the exploration potential of its deep water blocks in the Sergipe-Alagoas Basin.Cutthroat-1 is located nearly 90 km offshore Brazil and was drilled in 3,094 m of water by Seadrill’s West Saturn drillship. It is one of multiple prospects that the partner group has mapped in

Santos announced the Pavo-1 exploration well has confirmed a significant oil discovery 46 km east of the Dorado field in the Bedout Sub-basin, offshore Western Australia.The well was drilled on the northern culmination of the greater Pavo structure and encountered a 60-m gross hydrocarbon column in the primary Caley member reservoir target. Wireline data has confirmed 46 m of net oil pay, with an oil-water contact intersected at 3,004-m measured depth (MD). Excellent reservoir quality is interpreted from logs with 19% average porosity, permeabilities in the 100- to 1,000-millidarcy range and hydrocarbon saturations averaging 80%, similar to that encountered in

The US Securities and Exchange Commission (SEC) proposed rule changes that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, as well as certain climate-related financial statement metrics in a note to their audited financial statements. The required information about climate-related risks also would include disclosure of a registrant’s greenhouse gas emissions, which have become a commonly used metric to assess a registrant’s exposure to such risks.“Today, investors representing literally tens