Page 11 - NorthAmOil Week 17 2022

NorthAmOil NEWS IN BRIEF NorthAmOil

in-service date for the project is October 1, Nabors announces first- and land drilling rig counts in particular,
2023. increased significantly during the quarter.
The binding open season begins April quarter 2022 results With support from commodity prices that
25, 2022, and ends May 13, 2022, at 5 p.m. have risen markedly since the beginning of
Central Time, though PHP reserves the right Nabors Industries today reported first quarter the year, we remain optimistic that drilling
to extend the open season as needed. 2022 operating revenues of $569mn, an activity in the oil & gas industry will continue
PERMIAN HIGHWAY PIPELINE, April 25, 2022 increase of approximately 5%, compared to to increase over the balance of the year. We
operating revenues of $544mn in the fourth are also encouraged by the signals coming
quarter of 2021. The net loss from continuing from certain of the key international markets,
SERVICES operations attributable to Nabors shareholders where planning and tendering for additional
for the quarter was $184mn, or $22.51 per activity are also accelerating, setting up
SDRL: Seadrill Limited share. This compares to a loss of $114mn, or another potential driver of future growth.”
$14.60 per share in the prior quarter. The first
NABORS INDUSTRIES, April 27, 2022
announces contract awards quarter results include a non-cash charge of
$72mn, or $8.63 per share, related to mark-
totalling $105mn to-market treatment of Nabors’ warrants. MOVES
First quarter adjusted EBITDA was $131mn,
Seadrill Limited is pleased to announce new compared to $132mn in the previous quarter. CAPP appoints Lisa Baiton
contract awards for the West Neptune and the Anthony G. Petrello, Nabors Chairman,
Sevan Louisiana. CEO and President, commented, “Our first as president and chief
The West Neptune has secured a four-well quarter financial results demonstrate the value
extension with two one-well options with of our technology-focused strategy. Drilling executive officer
LLOG Exploration Offshore in US Gulf of Solutions’ quarterly Adjusted EBITDA
Mexico. The firm-term will commence in marked another post-pandemic high, and we The board of governors of the Canadian
direct continuation of the existing contract, saw excellent sequential growth in the U.S. Association of Petroleum Producers (CAPP)
has an estimated duration of 200 days and is Drilling segment. is pleased to announce the appointment of
expected to keep the rig busy until August “In the Lower 48, our daily drilling Lisa Baiton as president and chief executive
2023. Total contract value for the firm-term is adjusted gross margin reflects the strong officer. Baiton takes on the new role effective
approximately $71mn. pricing environment. Our average daily Monday May 2, 2022.
The Sevan Louisiana has secured a three- revenue of $23,000 represents an increase As CEO, Baiton will work with CAPP
well extension with Talos Production in US of nearly $1,300 versus the prior quarter. members to ensure the sector is able to
Gulf of Mexico. The extension has a minimum Leading-edge daily rates continue to increase continue providing Canadians, and the
duration of 105 days and is an extension sharply and are now at least $5,000 higher world, with secure and responsibly produced
to the existing contract with Talos, which than the first quarter’s average daily revenue. energy while progressively working towards
is set to commence in August 2022. Total Adjusted EBITDA from our Drilling Solutions achieving Canada’s climate commitments.
contract value for the three-well extension is segment grew sequentially, on top of the “Lisa has a deep understanding of the
approximately $34mn. strong performance in the prior quarter. This major issues that define the global economy”
Simon Johnson, Seadrill’s chief executive segment’s contribution to the Company’s total said Craig Bryksa, chair of the CAPP board of
officer, commented: “It’s encouraging to see so adjusted EBITDA exceeded 15%, an all-time governors and president and chief executive
much activity in the US Gulf of Mexico right high. officer of Crescent Point Energy. “She will
now. We are proud of the safe and efficient “The first quarter marked significant bring immense value to the organisation as
operations we provide for our clients and exercises of our innovative equity warrants. CAPP faces a new era of opportunities and
are grateful for the opportunity to continue We issued the warrants last June, as part of our challenges, while striving to enhance the
delivering for both LLOG and Talos into next strategy to de-lever. As a result, the reduction contribution of Canada’s oil and natural gas
year.” in face value of debt outstanding from these industry in addressing energy security, energy
SEADRILL, April 26, 2022 exercises exceeded $130mn. affordability and global emissions reductions”
“Oilfield activity in the Lower 48 market, “As a proud Canadian, I’m invested in the

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