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Maersk Drilling has been awarded a two-well contract extension by Karoon Energy, while TechnipFMC will carry out engineering, procurement, construction and installation of subsea trees, flexible pipes and umbilicals.
According to GlobalData’s latest report, ‘DJ Basin in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025’, the Denver Julesburg Basin accounted for 7.02% of oil and 6.65% of natural gas production in the United States Lower 48 for 2020.
The combined value of the awards is approximately US$550 million and will account for 13 years of contract backlog.
The transaction follows Repsol's sale of producing assets in Russia, the cessation of oil production activities in Spain and the exit from exploratory activity in other countries.
Well management, production optimisation, well integrity studies, carbon capture storage well design and rig-less intervention solutions form the core of the recent work awarded.
The loss includes impairment charges totalling US$567.1 million in respect of the Lancaster field, West of Shetland, and the company’s exploration assets and an associated deferred tax write-off of US$54.2 million.
The assets being sold consist of 50% of Central’s interests in its producing assets in the Northern Territory: Mereenie Oil and Gas Field, Palm Valley Gas Field, and Dingo Gas Field.
The programme comprises three production wells and will develop additional natural gas and liquids reserves, extending the life of the Bayu-Undan field as well as production from the offshore facilities and the Darwin LNG plant.
The company, founded in 2015, is believed to be close to appointing JP Morgan to explore a listing or sale to a rival.
Bahamas Petroleum has changed its name to Challenger Energy Group.
Cummins is offering a new Tier 4 final QSK50 Drilling Power Module with two ratings at 1200 rpm and two additional ratings at 1800 rpm.
The new company would be supported by Eni and BP and would be expected to be self-funded.