Maersk Drilling has entered into an agreement with a subsidiary of Shelf Drilling, Ltd. to sell the jack-up rig Maersk Completer for USD 38m in an all-cash transaction. The transaction is subject to customary closing conditions, and the rig is expected to be delivered in January 2020.

Rystad Energy is forecasting that overall global upstream investments in 2020 will decrease by around 4%. Investments in shale/tight oil are expected to contract the most next year by almost 12%.

Siemens Gamesa Renewable Energy continues to demonstrate that sustainability can be present in every step it takes as a company, including its funding strategy. In less than a year, it has accumulated 1.48 billion euro in green guarantee lines.

Chevron Corporation announces a 2020 organic capital and exploratory spending program of $20 billion. The 2020 budget supports a robust portfolio of upstream and downstream investments, highlighted by Chevron’s world-class Permian Basin position, the company’s major capital project at TCO in Kazakhstan, and an advantaged queue of deepwater opportunities in the Gulf of Mexico.

The end of the year is the perfect time for reflection, so VV are taking this opportunity to look back on the biggest and most valuable deals of 2019 in the Cargo and Offshore sectors.

Royal Dutch Shell plc (“Shell”) announces that it has signed a $10 billion revolving credit facility. The new facility replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.

Mitcham Industries, Inc. (NASDAQ: MIND) ("Mitcham" or "the Company") has announced financial results for its fiscal 2020 third quarter ended October 31, 2019.

Aberdeen-headquartered Exceed, a well management and performance improvement specialist, has ended 2019 on a high, posting record results in the same week as it was listed within the 23rd annual Sunday Times Virgin Atlantic Fast Track 100.

VesselsValue sounds the alert on MODU values following 2 sales of modern premium jack up units to separate buyers at historic lows.

Natural gas production for Northwest Europe is forecast to decline by approximately 25% from current levels over the next five years as upcoming projects struggle to offset overall declines, according to GlobalData, a leading data and analytics company.

Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand.

Oil production from non-OPEC countries is expected to grow at record speed in 2020, creating a headache for the Organization of the Petroleum Exporting Countries (OPEC), which is scheduled to meet this week in Vienna to discuss extending oil production cuts.

New research released from the Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) indicates the need to define the Gulf of Mexico Shallow Water Province (water depth less than 200 meters) as a distinct province to avoid stranding more than $20 billion of the Nation’s oil and natural gas resources.

According to one of the published reports, the projected value of the global FSRU (Floating Storage Regasification Unit) market in 2018 is US$ 1,217.9 Mn and the market is estimated to reach US$ 2,380.3 Mn by 2026 with a CAGR of 8.7%.

Talos Energy Inc. ("Talos" or the "Company") (NYSE: TALO) has announced that the Company has entered into a series of definitive agreements to acquire a broad portfolio of U.S. Gulf of Mexico producing assets, exploration prospects and acreage from affiliates of ILX Holdings, Castex Energy and Venari Resources for $640 million as of the effective date.