OGJ - Maersk Drilling and Aker BP announced a drilling rig alliance based on a tripartite collaboration model that also includes service provider Halliburton Co.
The alliance involving high-performance jack ups aims at lower cost for Aker BP and increased profitability for Maersk Drilling and Halliburton.
Duration of the framework agreement is 5 years firm with the option to extend for another 5 years. It will be based on an integrated well delivery model with aligned incentives.
The new alliance focuses on increased efficiency, enabling standardization and simplification of processes to reduce the lead time from discovery to production.
Maersk Drilling has 24 drilling rigs, including drillships, deepwater semisubmersibles, and high-end jack ups.
|May, 21, 11:10:00|
|May, 21, 11:05:00|
|May, 21, 11:00:00|
|May, 21, 10:55:00|
|May, 21, 10:50:00|
|May, 21, 10:45:00|
API - American Petroleum Institute reported that the first four months of this year saw U.S. petroleum demand average 750 thousand barrels a day above the same period in 2017 despite higher prices, a sign of solid economic activity. April also saw the U.S. produce a record 10.5 million barrels per day (MBD) of oil.
IMF - “Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2 percent in the first half of the year from 4.2 percent in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances, while improved investor confidence has continued to support portfolio inflows. In addition, gross international reserves rose to $44 billion by end-April, equal to 7 months of imports.
BAKER HUGHES A GE - U.S. Rig Count is up 1 rig from last week to 1,046, with oil rigs unchanged at 844, gas rigs up 1 to 200, and miscellaneous rigs unchanged at 2. Canada Rig Count is up 4 rigs from last week to 83, with oil rigs up 6 to 38 and gas rigs down 2 to 45.
REUTERS - Brent crude futures LCOc1 were at $79.57 per barrel at 0310 GMT, up 27 cents, or 0.3 percent from their last close. Brent broke through $80 for the first time since November 2014 on Thursday. U.S. West Texas Intermediate (WTI) crude futures were at $71.62 a barrel, up 13 cents, or 0.2 percent, from their last settlement.