Lundin, Marathon and Talisman to share Transocean Winner for three years
2008.03.16 -
Company News
The duration of the contract is in excess of three years and the rig utilization to be shared equally between the three operators Lundin Petroleum, Marathon and Talisman as dictated by a separate rig sharing agreement. The contract will commence in August 2009 and the contract value is approximately $500 million USD. This rig contract will allow Lundin Petroleum to further pursue a proactive exploration, appraisal and development strategy on the Norwegian Continental Shelf.
Ashley Heppenstall, President and CEO of Lundin Petroleum comments "Lundin Norway has developed an exciting portfolio of exploration and appraisal prospects in Norway. The Transocean Winner contract and the existing Songa Dee rig contract will give us two and a half years of rig capacity from 2009. We therefore anticipate an aggressive exploration and appraisal programme going forward in Norway".
The TRANSOCEAN WINNER is a GVA-4000 design semi-submersible drilling unit capable of operating in harsh environments and water depths up to 1,500 feet using a 18¾in, 15,000 psi BOP and a 21in OD marine riser.
Petroleum Geo-Services ASA ('PGS' or the Company) announced today that it has entered into a definitive agreement to acquire Applied Geophysical Services, Inc. (AGS) for a price of USD 51 million, subject to certain adjustments for changes in working capital. PGS estimates an enterprise value for AGS of approximately USD 46 million. AGS is based in Houston, Texas and specializes in providing advanced depth imaging services. The transaction is expected to close during the course of this week.
Total announces the acquisition of a 40% interest in three exploration permits northeast of Ichthys on the Australian Browse Basin jointly with Inpex (60%, operator). These interests were held by ConocoPhillips. This acquisition is subject to the approval of the Australian authorities.
Rowan Companies, Inc. (NYSE:RDC) announced today that it has entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010.
Gaz de France has acquired a 45% stake in the Alam El Shawish West licence in Egypt from Vegas Oil & Gas.
Trico Marine Services, Inc. (NASDAQ: TRMA) ("Trico") and Active Subsea ASA (NOTC: ASUB) ("Active Subsea") today announced that Trico intends to make a voluntary offer for all outstanding shares, options and warrants of Active Subsea.
