ION Geophysical has been awarded an extension to its existing multi-year contract with Petroleos Mexicanos (Pemex), the national oil company of Mexico. Under this contract, ION is providing a broad range of seismic data processing for multiple offshore and onshore surveys…
Baker Hughes suffered a net loss of US$1 billion in Q4, in addition to a 36% dip in its revenue year-on-year that the company said is from global pricing pressures, and the steep decline in activity. Image from Baker Hughes…
Rope manufacturer Lankhorst Ropes, was awarded a contract by Shell to supply the mooring lines for the Appomattox development to be located approximately 140nm southeast of New Orleans in the Gulf of Mexico. Lankhorst Ropes is supplying 78 rope lengths totaling over 63…
TGS has acquired 93,000km (50%) of the 186,000km 2D seismic project, Gigante, which covers the entire offshore sector of Mexico and ties into TGS' regional 2D seismic grid covering the entire US Gulf of Mexico. Interpretation of preliminary…
Freeport-McMoRan’s (FCX) net loss of US$4.1 billion in Q4 2015 has led to several cuts across the company, including deferring exploration and development activities in the Gulf of Mexico by idling its three deepwater drillships that are currently under contract…
Anadarko Petroleum awarded McDermott International a subsea umbilical and flowline installation contract to support Anadarko’s Phase II development of the Caesar/Tonga field in the Gulf of Mexico. Lay…
Aberdeen headquartered QTEC Energy Services and Calgary headquartered Performance Fluid Management (PFM), both companies specializing in the management of drilling fluids on drilling installations, are merging to create a new company, FOCUS…
From 2014 to 2040, global energy demand will increase by 25% due to population growth and economic expansion, according to ExxonMobil’s 2016 edition of The Outlook for Energy. Energy demand. Graph from ExxonMobil…
Hess Corp.’s 2016 exploration and production capital and exploratory budget has been reduced 40% compared to 2015, with the bulk of it going to offshore production, developments, exploration, and appraisals. Tubular Bells in the Gulf of Mexico…
Louisiana-based Bordelon Marine is using acoustically-aided inertial navigation technology from Sonardyne for its new ultra-light intervention vessel (ULIV), Brandon Bordelon. The dual Ranger 2 Pro DP-INS systems, the highest specification available…
Halliburton posted a 42% loss in its total revenue year-on-year for Q4 2015 that the company said is a result from the impact of reduced commodity prices creating widespread pricing pressure and activity reductions on a global basis. Image…
Despite the already difficult North Sea market and painfully high cost levels, a new research report published today by DNV GL reveals that more short-term cost cuts are expected in 2016. Sixty-five percent of UK respondents think mistakes made in previous downturns are being repeated…
Mexico’s federal government has entered into an exclusive agreement with Platts to utilize its oil and natural gas price data in the nation’s pricing formulas as part of its energy reform policy. Image…
Sky-Futures, the provider of drone inspection services for the global oil and gas industry, completed the first ever oil and gas inspection by drone in the Gulf of Mexico last week for a global oil and gas service and drilling company. Drone…
Oil services giant Schlumberger posted more than a US$1 billion loss in its Q4 and full year 2015 results, in addition to a further 10,000 job cuts, bringing its workforce reduction to some 30,000 for the year. Kibsgaard…