VAALCO Energy, Inc. announced that it has executed an agreement with Transocean Ltd. regarding the remaining contract term associated with the Constellation II rig utilized in the company’s recent drilling program offshore Gabon which provides for payment of $5.1 million net to VAALCO’s interest for unused rig days under the contract.
This amount, plus the company’s share of demobilization charges, will be paid in seven equal monthly installments beginning in July, according to a press release.
Recommended Reading
Targa Expects Another Major Permian Pipeline Project This Year
2024-05-03 - Targa Resources says different projects are falling in place for gas capacity expansion
US Appeals Court Upholds FERC Approvals for Gas Pipeline Expansion
2024-05-02 - A unanimous three-judge panel of the U.S. Circuit Court of Appeals for the D.C. Circuit held that the Federal Energy Regulatory Commission was right to determine the Evangeline Pass Expansion project is functionally separate from four related gas infrastructure developments.
Enterprise Targets FID for SPOT Project by End of 2024
2024-05-01 - Enterprise Products Partners’ co-CEO disputed capex figures reported in the media regarding its Sea Port Oil Export Terminal.
US Reforms Green Law to Speed Clean Energy, Infrastructure Permits
2024-04-30 - The reforms are the second and final phase of adjustments to the National Environmental Policy Act, or NEPA, by the Biden administration.
Canadian Railway Companies Brace for Strike
2024-04-25 - A service disruption caused by a strike in May could delay freight deliveries of petrochemicals.