Aramco Awards Major Deals and More

  • Nov 21, 2020
  • Rigzone

Here are some of Rigzone's top upstream stories during the last week, just in case you missed them…

Saudi Aramco has awarded major long-term agreements to eight companies for its oil and gas brownfield projects. The deals were made after a “thorough evaluation process”, Aramco revealed.

Plexus Holdings entered into a license agreement with Cameron International Limited, a Schlumberger group company. The agreement grants Cameron a non-exclusive license to use Plexus’ POS-GRIP and HG® metal-to-metal seal method of wellhead engineering.

The price to drill an acre of land in the biggest U.S. shale basin has tumbled amid the oil rout, Bloomberg highlighted.

McDermott International, Ltd secured approximately $560 million in new capital through a series of transactions expected to close by the end of the year.

Bloomberg reported that Gulfport Energy Corp. has filed for bankruptcy. The business joins a slew of U.S. oil and gas companies that are collapsing after the pandemic deepened their struggle, Bloomberg noted.

Shell Offshore Inc. took the top spot among companies vying for Gulf of Mexico blocks at the U.S. Department of the Interior’s Bureau of Ocean Energy Management Lease Sale 256.

Global conventional oil and gas discoveries already exceed eight billion barrels of oil equivalent (boe) and are projected to settle at around ten billion boe by the end of the year, according to Rystad Energy.

To contact the author, email [email protected]