Offshore Drilling: Just Over The Horizon

In December, when Congress moved the line on offshore drilling closer to Florida’s shores, it was touted as a major victory for Florida’s tourism-based economy because the measure preserved a significant no-drilling zone along Florida’s coastline. But the area opened to oil and gas drilling was just a fraction of the publicly-owned waters the industry hoped to gain access to in the... 

Essar bets big on drilling

The Essar group may invest $400-600 million over the next few years to gain a sizeable presence in both land and offshore drilling services. Essar Oilfields Services Ltd, the unlisted subsidiary of Essar Shipping and Logistics, will oversee the group’s efforts in this direction. Sources said Essar Oilfields is planning to have a ”diversified and strong fleet” of around 25 rigs... 

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Standard Drilling Inks LOI with UMW Petropipe

Standard Drilling has entered into a Letter of Intent (“LOI”) with a wholly-owned subsidiary of the UMW Group, UMW Petropipe (L) Ltd regarding ownership, marketing and operation of two jackup rigs. The parties expect to conclude the agreements (share sale and purchase Agreement in respect of the ownership companies, a Joint Venture Agreement, Shareholder Agreement and Management Agreements... 

Petroleum Museum offers summer fun for kids

The Petroleum Museum isn’t just for tourists anymore. This summer, children have a chance to discover exciting information about chemistry and the Permian Basin area with the museum’s special twist on learning. The museum offers a Harry Potter Science Camp next week, a Wild Wild West Adventure Camp in July and a movie camp that runs every Tuesday through Aug. 8. Cheryl Ross, education... 

Oil drilling a boost for copter sales

Rising fuel prices that are a bane to consumers have been a boon to Sikorsky Aircraft Corp. and other manufacturers of helicopters that shuttle workers to and from rapidly multiplying offshore drilling rigs. Between 2002 and 2005, commercial helicopter sales rose from about $100 million to $600 million for the Stratford, Conn.-based subsidiary of United Technologies Corp. About two-thirds of it was... 

GSPC-JEL-GGR Consortium Commences Drilling the KG#15 Well

GeoGlobal Resources Inc. (AMEX: GGR) announced today that the drilling of the KG#15 exploratory well has commenced. The KG#15 is the third exploratory well to be drilled from the KG#8 well platform using the Saipem Perro Negro 3 jack-up drilling rig and is intended to further delineate the extent of the KG Structure. The KG#15 will be drilled directionally to an intended total vertical depth (“TVD”)... 

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Exxon sees offshore Madagascar drilling in 2007

U.S. oil giant ExxonMobil sees exploratory drilling operations off the northwest coast of Madagascar getting under way in 2007, a company official said on Tuesday. Exxon has interests in four blocks along the Indian Ocean island’s northwest coast. “The central block, the Majunga block, is the one we hope to drill our first exploratory well on,” Exxon public affairs manager John Harrington... 

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