Gerson Lehrman Group - Intelligently Connecting Institutions and Expertise.

GLG News by Offshore Drilling Rig Experts

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Petrobras has potential to corner latin American LNG market

November 20, 2009

40 TCF Gas Recoverable from 3 Brazilian Oil Fields | www.rigzone.com

A spokesman for BG Group said that 40 trillion cubic feet of natural gas can be recovered from Tupi, Iara and Guara oil discoveries offshore Brazil. The three fields contain between 9.1 and 14 billion barrels of oil equivalent. They will transform Brazil into a major oil exporter in the next decade. Confirmation of sizeable gas reserves will quadruple Brazil's proven reserves. The natural gas could be used for domestic power generation. Last week Sao Paulo suffered a major electric blackout.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Marginal oil and gas operations disappearing in wake of financial downturn

November 19, 2009

Chevron Drops Plans for Inlet Exploration | www.rigzone.com

Chevron announced that it is dropping a program to develop more oil from aging Cook Inlet. The production workforce will be reduced by 10 percent. A statement issued by the company cited "difficult economic conditions." The company will continue to operate some platforms. Chevron said the Cook Island business would contract because of production declines, high lifting costs, financial issues and volcanic activity. Total oil production from the region is 8,500 bbl/day.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Devon looks at hole card, decides to consolidate operations

November 17, 2009

Devon Divests All GOM, International Assets | www.rigzone.com

Devon Energy plans to reposition itself as a high-growth North American onshore company. It will divest all Gulf of Mexico and international assets. Proceeds of the sales will be used to pursue opportunities in the U.S.A. and Canada and to reduce debt. The company will open data rooms and commence divestiture in the first quarter of 2010. Process to be completed by year end 2010. Then, Devon will deliver growth funded entirely with internally generated funds.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

OXY et al to redevelop 67 year old Awali oil field on Bahrain Island

November 15, 2009

OXY Forms Joint Co. to Further Develop Bahrain Field | www.rigzone.com

Occidental Petroleum Corporation, Mubadela Development Company and the National Oil and Gas Authority of Bahrain announced the creation of an operating company under a production sharing agreement signed in April of 2009. The joint company named Tatween Petroleum will begin work immediately. Composition of the redevelopment team will be mainly ex-Bahrain Petroleum Company employees. The revitalization of this old field represents a paradigm shift for the oil industry on Bahrain Island.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Exxon to redevelop Upper Zakum on the cheap

November 13, 2009

Exxon Sees Major Cost Savings on Abu Dhabi Oil Field | www.rigzone.com

Exxon Mobil expects to save billions of dollars at massive Upper Zakum oil field in the Persian Gulf. Instead of setting many steel platforms, Zadco (Exxon Mobil, Inpex and Adco) will build artificial islands from which to drill new wells. Zadco plans to increase production to 750,000 bbl/day by 2015. Zakum oil field comprises both Upper and Lower zones and is the second-largest field in the Persian Gulf. The project is on track for award of production facilities in late 2010.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Ensco gets out of town before it's too late

November 11, 2009

Ensco to Move Corporate Headquarters to UK | www.rigzone.com

Ensco announced that its Board of Directors has approved a plan to change the company's corporate structure. Ensco's legal domicile would change from Delaware to the U.K. Most of the senior officers would be based in the U.K. where the company has substantial operations. The move will enhance management efficiency, improve access to key customers, enhance access to European investors improve perceptions that Ensco is a global offshore drilling contractor and reduce tax rates.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Exploration in Congo (Brazzaville) should continue into 2010

November 9, 2009

Total Eyes Oil Production Rise in Congo By Year End | www.rigzone.com

French company Total, top operator in the Republic of Congo, plans to increase production by 20% by the end of 2009. At the end of the year, Congo will be able to produce 300,000 bbl/day. Total's new production will come from a discovery of an oil field in May of 2008 named Moho Bilondo. Estimated output from the new field is 90,000 bbl/day. The Republic of Congo is the fourth largest producer of crude oil in sub-Saharan Africa after Angola, Nigeria and Equatorial Guinea.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Halliburton to coax more oil out of largely depleted Ghawar field

November 7, 2009

Halliburton Wins 5-Yr Drilling Gig in Mega-Giant Ghawar Field | www.rigzone.com

Halliburton was awarded a five year integrated turnkey contract for Ghawar field. Work will be performed in Uthmaniyah, Haradh, Hawiyah and Shedgum. Halliburton will provide drilling rigs, directional and horizontal drilling tools, logging, cementing, mud engineering, perforation, completion and well construction services. Halliburton will engineer and manage the entire drilling operation.Three to four rigs will drill and complete between 153 and 185 oil and water injection wells.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

Baker Hughes report shows state of oil industry worldwide

November 6, 2009

Baker Hughes' Profits Take a Hit, BJ Services to Advance Portfolio | www.rigzone.com

Baker Hughes reported net income for Q-3 of $0.18/share, down from Q-2's $0.28/share. Q-3 North American margins rebounded from the low of the second quarter but international results were disappointing. Revenue in Latin America declined because of reduced revenue from Venezuela, Argentina, Bolivia and Chile. Europe, Africa, Russia and Caspian declined except for Angola. The Middle East Asia Pacific declined as rig counts went down. With a new $300 million contract, 2010 should improve.

Michael Lynch, Consultant

Michael LynchConsultantMichael E. Lynch What is a GLG Leader?|GLG Leaders are a separate tier of Council Members with a Council Rank in the top 5%. These GLG Member Program participants are eligible for ongoing, in-depth consultative relationships with GLG clients.

BP, CNPC face uphill climb to triple output from Rumaila field

November 5, 2009

BP, CNPC to Triple Output from Super-Giant Rumaila Field | www.rigzone.com

BP and China National Petroleum Corporation have signed a service contract with Iraq's South Oil Company to expand production from the field located near Basra. The plan is to triple production to almost 3 million bbl/day. BP and CNPC plan to invest $15 billion over 20 years to raise production to a plateau level of 2.85 million bbl/day. BP has gained field information as a result of a three year technical assistance program and has historic information dating to the discovery in 1953.

Page : 12345678910Next1 to 10 of 1104

Leading institutions connect with members of the Energy & Industrials councils through GLG

Most Popular Energy & Industrials News