From contracts to products, below is a compilation of the latest headlines in the E&P space.
Contracts and company news
Deepwater Asgard Extended for GoM Work
Transocean Ltd. said April 1 it has won a 365-day contract extension valued at $195 million for the Deepwater Asgard from an independent operator in the U.S. Gulf of Mexico. The program is expected to start in June 2024 in direct continuation of the rig’s current program, and includes additional services.
Halliburton Launches New Diverter
Halliburton Co. announced April 3 it has added the SuperFill II diverter to its SuperFill surge reduction equipment portfolio. The SuperFill II diverter redirects fluid flow to minimize frictional pressure loss through the length of the landing string and helps maximize casing running speed. The operating glass seat provides an open internal flow path with no restrictions once the diverter is closed.
Because its glass ball seat leaves no debris after activation, there are no ID restrictions that limit use with additional downhole tools, the service company said.
According to Matt Lang, Halliburton’s vice president for cementing, the SuperFill II diverter is compatible with the industry’s liner and subsurface release plug systems.
DeepOcean Snags Equinor Frame Agreement
Equinor has awarded DeepOcean a four-year frame agreement for marine services on the Norwegian Continental Shelf, DeepOcean said on April 4. The deal, which has options for four more years, covers subsea intervention and repair contingency for subsea pipelines, structures and high voltage cables for both offshore oil and gas fields and renewables.
DeepOcean will manage the contract delivery out of its office in Haugesund, Norway, supported by the company’s international operations wherever required.
Recommended Reading
JMR Services, A-Plus P&A to Merge Companies
2024-03-05 - The combined organization will operate under JMR Services and aims to become the largest pure-play plug and abandonment company in the nation.
New Fortress Energy Sells Two Power Plants to Puerto Rico
2024-03-18 - New Fortress Energy sold two power plants to the Puerto Rico Electric Power Authority to provide cleaner and lower cost energy to the island.
Kimmeridge Fast Forwards on SilverBow with Takeover Bid
2024-03-13 - Investment firm Kimmeridge Energy Management, which first asked for additional SilverBow Resources board seats, has followed up with a buyout offer. A deal would make a nearly 1 Bcfe/d Eagle Ford pureplay.
SilverBow Rejects Kimmeridge’s Latest Offer, ‘Sets the Record Straight’
2024-03-28 - In a letter to SilverBow shareholders, the E&P said Kimmeridge’s offer “substantially undervalues SilverBow” and that Kimmeridge’s own South Texas gas asset values are “overstated.”
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.