Paul Anderson

4 days ago | rigzone.com | Paul Anderson

LandBridge Company LLC has reported $44 million in revenue for the first quarter of 2025, up from $36.5 million for the fourth quarter of 2024 and $19 million for the corresponding quarter a year prior. The company attributed the sequential increase to increases in surface use royalties of $6.8 million, resource sales of $4.2 million, and resource royalties of $3.5 million.

6 days ago | rigzone.com | Paul Anderson

Oceaneering International Inc.’s Offshore Projects Group (OPG) has secured a multi-year deal from BP Mauritania Investments Ltd. Oceaneering said in a media release that the contract includes the provision of subsea inspection, maintenance, and repair (IMR) services and remotely operated vehicle (ROV) services in the Greater Tortue Ahmeyim (GTA) field.

1 week ago | rigzone.com | Paul Anderson

North American oil and natural gas exploration and production company Ovintiv Inc. has reported a net loss of $159 million for the first quarter of 2025, versus a net income of $338 million for Q1 2024. The results were impacted by a non-cash ceiling test impairment of $557 million, the company said in a media release. Total revenues for the first quarter were at $2.37 billion, on par with the $2.35 billion logged for the corresponding quarter a year prior.

1 week ago | rigzone.com | Paul Anderson

Aster Chemicals and Energy (Aster) has agreed to acquire Chevron Phillips Singapore Chemicals Pte Ltd (CPSC). CPSC is a joint venture between Chevron Phillips Chemical, EDB Investments Pte Ltd, and Sumitomo Chemical Co Ltd. According to Chevron Phillips Chemical, CPSC shareholders have agreed to sell 100 percent of their shares. With the acquisition of CPSC, Aster has secured ownership of a 400,000 tons per annum high-density polyethylene manufacturing facility on Jurong Island, Singapore.

1 week ago | rigzone.com | Paul Anderson

Offshore drilling contractor Valaris Limited has reported a net loss of $39 million for the first quarter of 2025, hurt by a tax expense of $194 million - compared to a net income of $131 million for the prior quarter. “First quarter 2025 included an $8 million loss on impairment related to our decision to retire semisubmersibles VALARIS DPS-3, DPS-5 and DPS-6 during the quarter”, the company said.