Finance News

This acquisition makes Ensco the largest MODU owner by value, with a total fleet (live, on order and joint ventures) worth USD 8.4 Bn knocking Transocean from the top spot which they held for a month due to their merger with Ocean Rig.

Transocean Ltd. and Ocean Rig UDW Inc. that they have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig’s net debt.

Texas-based American investor and entrepreneur Michael Guidry has plans to invest in North Africa with a $1 billion deep-sea port based in Susah, Libya. When completed, annual revenues for the "Port of Susah" are expected to reach $120 million by the year 2040 -- doubling from an anticipated $60 million in 2022, which is the first year the port will be fully operational.

CGG S.A. (“CGG”) announces that the Board of Directors has unanimously approved the voluntary delisting of its American Depositary Shares (“ADSs”) from the New York Stock Exchange (“NYSE”) and its voluntary deregistration with the United States Securities and Exchange Commission (“SEC”). CGG believes that the costs associated with continuing the listing and registration of its ADSs exceed the benefits received by CGG, as the primary market for CGG shares is Euronext Paris.

The United States likely surpassed Russia and Saudi Arabia to become the world’s largest crude oil producer earlier this year, based on preliminary estimates in EIA’s Short-Term Energy Outlook (STEO). In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the United States surpassed Russia in crude oil production for the first time since February 1999.

Natural gas projects will receive a significant investment boost over the coming years. This will enable gas to overtake oil as the world’s primary energy source in 2026, and account for a quarter of the world’s energy by mid-century.

Talos Energy Inc. announces that the Company entered into and completed a transaction to acquire Whistler Energy II, LLC ("Whistler") on August 31, 2018. Year to date gross production from Whistler's assets is approximately 1,900 barrels of oil equivalent per day ("Boepd"), or net production after royalties of approximately 1,500 Boepd, of which 82% is oil.

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