
Equinor operations offshore Brazil. (Source: Einar Aslaksen/ Equinor)
Equinor subsidiary Equinor Energy do Brasil Ltda. awarded Valaris Ltd. a multi-year contract for its VALARIS DS-17 drillship offshore Brazil for work on Project Raia, Valaris said in a July 22 press release.
The $498 million contract will have an estimated total duration of 852 days, including a 672-day drilling program expected to begin in early 2026.
The rig will be on standby between the rig’s current program and the beginning of the operation period for an estimated 18 days. During this time period, the rig is available for work inside and outside Brazil—an opportunity for additional revenue for Valaris.
Equinor’s partners on Project Raia are Repsol Sinopec Brazil with a 35% stake and Petrobras with 30%.
Recommended Reading
Murphy Shares Drop on 4Q Miss, but ’25 Plans Show Promise
2025-02-02 - Murphy Oil’s fourth-quarter 2024 output missed analysts’ expectations, but analysts see upside with a robust Eagle Ford Shale drilling program and the international E&P’s discovery offshore Vietnam.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-22 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Utica Oil E&P Infinity Natural Resources’ IPO Gains 7 More Bankers
2024-11-27 - Infinity Natural Resources’ IPO is expected to provide a first-look at the public market’s valuation of the Utica oil play.
Not Sweating DeepSeek: Exxon, Chevron Plow Ahead on Data Center Power
2025-02-02 - The launch of the energy-efficient DeepSeek chatbot roiled tech and power markets in late January. But supermajors Exxon Mobil and Chevron continue to field intense demand for data-center power supply, driven by AI technology customers.
The Private Equity Puzzle: Rebuilding Portfolios After M&A Craze
2025-01-28 - In the Haynesville, Delaware and Utica, Post Oak Energy Capital is supporting companies determined to make a profitable footprint.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.