Drilling contracts are at the core of upstream operational agreements. They come in many forms and are negotiated to varying degrees depending on the value of the contract, level of risk involved, and existence of regional forms that may dictate terms. This article focuses primarily on general terms of a typical long term, high-dollar, day-rate, offshore contract; however, many terms discussed apply to the entire spectrum of drilling agreements.
Former US Secretary of Energy Steven Chu has joined the board of carbon capture firm Inventys. The announcement is a coup for Vancouver-based Inventys, which sees big market opportunities in the US, specifically in the enhanced oil recovery space. Operators in mature oil formations, such as Texas’ Permian Basin, often use EOR – which can… Keep reading →
What can cost a billion dollars more each week before it even exists? At the end of September, the Louisiana governor’s office projected that a new gas to liquids project announced by Royal Dutch Shell would cost an estimated $12.5 billion. Less than a week into December, the multinational energy giant cancelled its plans amid… Keep reading →
A new study says it traces two-thirds of industrial emissions from fossil fuels burned over the last 150 years to just 90 entities – many of these the oil and gas companies that extracted the fossil fuels in the first place. A press release accompanying the study suggests that these companies bear the responsibility for climate… Keep reading →
The oil and gas industry builds some of the world’s largest, most technically-challenging and expensive projects, especially now as companies are pushed further offshore, into the Arctic and into unconventional resource opportunities. As such, capital expenditure is closely watched by investors and there is consistent discourse around how much cash should be deployed to increase… Keep reading →
Carbon dioxide emissions costs have been possibly the great ‘unpriced externality’ for the energy business for more than a decade. Companies have resisted complex and cumbersome government plans only to end up with regional patchworks and failed private pricing mechanisms for the greenhouse gas that scientists have held most directly responsible for the lion’s share of human-contributed… Keep reading →
