Brazil plans on drilling up to 33 wells over $1.5 billion in investment

  According to Esgian, an Oslo based company that provides analytical tools for the energy industry, noted that the Norwegian company Eldorado Drilling AS raised $70 million in a private placement connected to its acquisition of two newbuild ultra-deepwater drillships. The rigs are expected to be delivered in 2024 and according to one of the banks involved, Eldorado will charter the units out externally.   The net of proceeds from the private placement will fund outstanding yard payments for the rig acquisitions and general corporate purposes. Fearnley Securities and SpareBank 1 Markets acted as joint bookrunners in the transaction. The transaction was increased from $60 million due to demand from investors.   Eldorado Drilling acquired the 12,000-ft 7th generation drillship West Dorado from Samsung Heavy Industries in January 2023.   As reported by Esgian, the second drillship acquired is the 10,000-ft 7th generation drillship Pacific Zonda, also under construction at Samsung Heavy Industries.   Photo Credit: Ultradeep - @Ultradeep3   Source: Esgian   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Exxon Mobil Corp has held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the U.S. shale oil producer, the Wall Street Journal reported on Friday, citing people familiar with the matter.   Discussions between the two companies about a potential deal have been informal, the newspaper said, adding that Exxon executives have discussed a potential tie-up with at least one other company.   Exxon and Pioneer declined to comment on the report.   Exxon views Pioneer as a top target to put its "windfall profits to use," the report said, adding that the talks may not lead to formal negotiations and Exxon may target another company.   Exxon last year earned a record $55.7 billion on sky high oil and gas prices and ended the year with $29.6 billion in cash and equivalents.   The largest U.S. oil producer this week signaled that its first-quarter operating profits dropped about 25% from the fourth quarter of last year, as oil and gas prices eased and refinery maintenance costs rose. Results for the quarter that ended on March 31 are expected to be reported on April 28.   Pioneer, the third-largest producer of oil after Chevron Corp and ConocoPhillips in the top U.S. shale basin, denied a media report six weeks ago that it was considering an acquisition of smaller rival Range Resources Corp.   It said at the time that it was "not contemplating a significant business combination or other acquisition transaction." Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here  

  Exxon Mobil Corp has ended a major campaign to find oil in Brazil.   Exxon said in an e-mail to Reuters its initial exploration drilling program in Brazil is now complete and that it is "still engaged in Brazil and continues to pursue exploration activity in the country".   The oil and gas giant suffered a sequence of drilling failures as an operator in the offshore acreage it started snapping up with partners for $4 billion in 2017, Reuters reported last year.   Exxon changed its Brazil country head last year and has been saying in presentations that it will focus efforts in the country with Bacalhau field, a successful exploration campaign led by its Norwegian partner Equinor ASA. In May 2022, Exxon agreed to expand with Equinor the $8-billion Bacalhau project expected to produce 220,000 barrels of oil and gas per day.   But that campaign also suffered delays, and its startup has been delayed to 2025, from 2024. Exxon said on Wednesday it is working with co-venturers to analyze the data to assess the potential for future exploration activities in those blocks.   Exxon had bet billions of dollars on offshore drilling in Brazil, and the country is one of the three geographic areas the company is counting on for most of its future production.   The other two - Guyana and U.S. shale country - are performing well, but Exxon is yet to make a major oil discovery as an operator in Brazil's water.   The WSJ report comes less than a day after Exxon signaled that its first-quarter operating profits dropped about 25% from last year's record levels on easing oil and gas prices.   Source: Reuters   Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here