Deep Down has received orders for steel tube flying leads and associated services in the Gulf of Mexico and West Africa, although it didn’t specify the clients. The first order is for 14 steel flying leads and ancillary equipment, with delivery scheduled for deployment in more than 1,615 m (5,300 ft) of water in the Gulf of Mexico in Q2 2014. The second order is a long-term contract to supply flying lead installation support equipment and personnel. Equipment and personnel will be mobilised in West Africa within the first few weeks of 2014 through the end of Q3 2014.
Exxon Mobil Corp. and offshore Guyana partners continue their success with their 13th discovery on the Stabroek Block and fifth discovery in the Turbot area.
The rig count fell for the past four months and production growth in the Permian Basin and other key shale basins have slowed as oil prices fell and many independent shale companies cut spending.
The new policy focuses on incentivizing increased investment and production.