This is the oil and gas industry’s first use of blockchain-based smart contracts between capital equipment sales, services, repair and maintenance operations, and signals a new avenue in oilfield services tapping the power of GumboNet.
Noble Holding Corp. revealed on Nov. 23 that the United States Bankruptcy Court for the Southern District of Texas has issued an order approving the company’s Joint Plan of Reorganization.
The estimated firm total contract value is approximately $100 million, including rig upgrades and integrated services provided.
Colorado’s oil and gas regulator on Nov. 23 approved tougher permitting rules for new oil and gas wells, including requiring a 2,000-ft (610 m) separation between wells and homes or public spaces, from the current 500-foot setback.
Private oil and gas company Northeast Natural Energy has entered into an amendment on Nov. 23 with its senior lending group led by EIG Global Energy Partners to extend the maturity of its current credit facility to December 2023 and provide significant additional liquidity to the company to execute on its go-forward business plan.
Offshore oil drilling contractor Seadrill expects the market for its rigs to remain depressed until late 2021, the Oslo-listed firm said on Nov. 20 as it continued talks with creditors over a debt restructuring.
Transocean Ltd. has received a 680-day preexisting, fixed price option for the Deepwater Corcovado, and an 815-day preexisting, fixed price option for the Deepwater Mykonos from Petrobras on Nov. 18.
The U.S. Treasury Department on Nov. 17 issued a new license to Chevron Corp., the last major U.S. oil company still operating in Venezuela, giving it until June 3 to wind down its joint ventures in the OPEC member nation.
Sapura Energy Berhad, a leading global integrated oil and gas services and solutions provider, has been awarded a major contract win in the Middle East on Nov. 16.