Gulfstream Services, Inc. announces US expansion in three locations
Formed in 1978, GSI has seven locations in the US and one in Aberdeen, Scotland with a global team of 210.
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Formed in 1978, GSI has seven locations in the US and one in Aberdeen, Scotland with a global team of 210.
Over 80% of the company's 2020 Exploration & Production capital and exploratory budget will be allocated to high return investments in Guyana and the Bakken.
US oil production from tight formations increased in 2019, accounting for 64% of total US crude oil production, according to the US EIA.
One of the most productive areas in the world for oil remains rich in the resource, according to the latest USGS assessment.
The projects are valued at approximately US$42 million and are scheduled to occur primarily during 2Q20.
Located approximately 275 km off the coast of Louisiana, the North Platte field development includes a semi-submersible floating production unit (FPU) in water over 1300 m deep.
The company has announced a net loss of US$1.7 billion for 4Q19, compared to a net income for 3Q19 of US$295 million.
The company has reached an agreement with creditors that will equitise nearly all of its funded debt.
US$7.25 million has been awarded across eight projects focused on strengthening safety culture in the offshore oil and gas industry.
API President and CEO Mike Sommers said that the deal was "welcome news" but urged the lifting of all remaining tariffs between the two nations.
The acquisition includes the Feubo facility located in Hattingen, Germany, which will become Crosby’s centre of excellence for offshore mooring components.
The newly acquired seismic programmes provide modern high-resolution imaging which encompass 1606 km2 with an additional 632 km2 to be acquired in 2020.