Fugro's Profit Beats Estimates Amid Offshore Wind Concerns
Dutch geological data specialist Fugro reported stronger-than-expected core earnings on Friday, but cautioned that worsening conditions in the offshore wind sector and tighter spending by energy firms could weigh on its performance in the final quarter.Third-quarter adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 22% year-on-year to 108.6 million euros ($126.7 million), but came in above the 89 million estimate in a company-compiled consensus."The fourth quarter is expected to be significantly impacted by the continued deterioration in the offshore wind market
Terradepth Launches Cloud-Based Ocean Mapping Tool for Offshore Energy Firms
Ocean data technology specialist Terradepth has launched a cloud-native geospatial platform for its offshore energy clients, dubbed Absolute Ocean.Purpose-built to host complex maritime data, Absolute Ocean provides web-browser based access to ocean maps.Subsea data collected for stakeholders can be shared, visualized and collaborated on in near real-time, empowering smarter decisions and ensuring sustainable growth in challenging marine environments.The software operates in the cloud and can ingest diverse types of data, including bathymetric surveys, sonar scans, and video footage. By centralizing
Digitalization: Leveraging Digital Innovation in Offshore Energy
what projects to take on and where to drill. In addition, collecting and analyzing data helps the business better understand production processes and the opportunities to maximize them in the future.Click here for a free webinar on June 29 – “Data, innovation and digital: How oil & energy firms can gain a competitive advantage by embracing the digital future”– to learn how Mail Manager can help your firm immediately take control of email management and unlock a new world of business efficiency opportunities.Operate from an internal ‘nerve center’Forward-thinking
Tidal Energy Firms Nova Innovation, Sabella Secure 12MW Berth in Wales
Scottish tidal energy firm Nova Innovation in partnership with the French tidal energy company Sabella has have secured a 12MW berth at one of what has been described as one the world’s largest tidal energy sites off the coast of Holy Island, Anglesey in Wales.Morlais is the first project win for Sabella and Nova Innovation (Nova) after they announced in June 2021 that they will be working together on tidal energy site development. Each company will develop 6MW in the 12MW berth which covers an area of 0.65km2. A 12MW tidal turbine site could power up to 10,000 homes a year, Nova said.Both tidal
Eco Wave Power to Ring Nasdaq Bell
said.Eco Wave Power specializes in onshore/nearshore wave energy technology. It installs its systems in the onshore and nearshore environment and attaches them to marine structures, such as breakwaters. Read more on how its system works.Eco Wave Power: First Floaters Arrive in Jaffa PortWave Energy Firms Eco Wave Power, Ocean Power Technologies Team UpEco Wave Power Signs MoU with CIMC for Deployment of Wave Energy Tech in Chin
Baker Hughes Finds US Drillers Add Most O&G Rigs Since April
U.S. energy firms this week added the most oil and natural gas rigs in a week since April as rising oil prices prompt more drillers to return to the wellpad.The oil and gas rig count, an early indicator of future output, rose 13 to 601 in the week to Jan. 14, its highest since April 2020, said Baker Hughes in its weekly report. The total count was up 228, or 61%, over this time last year.U.S. oil rigs rose 11 to 492 this week, their highest since April 2020, while gas rigs rose two to 109, their highest since March 2020. Specifically, the Eagle Ford in South Texas gained six rigs this week
Norway Launches New Licensing Round in Mature Offshore Areas
Norway will hold a new licensing round for its offshore oil and gas fields in already opened areas, further expanding the exploration acreage available to energy firms, the oil ministry said on Wednesday.Areas in the North Sea, the Norwegian Sea and the Barents Sea will be offered to oil companies, who have until September to submit their applications. The ministry plans to award licenses at the beginning of 2019, it said."Access to prospective exploration acreage is crucial in order to make new petroleum discoveries. New discoveries on the Norwegian continental shelf ensure value creation
Mexico's Oil Reform a Boon for Hard-hit Oil Service, Seismic Firms
Oil service and mapping firms still emerging from an industry recession have received a boost from about $800 million of data sales to energy firms considering bidding for Mexican oil and gas blocks. Mexico will on Wednesday hold its most important auction since a 2013 reform ended the 75-year monopoly on the energy sector held by state-run oil firm Pemex. The government of President Enrique Pena Nieto hopes the deepwater sale will attract tens of billions of dollars of investment to turnaround a slump in the country's oil output. Seven previous auctions drew investment pledges of
As US Opens Up Offshore Waters, Eastern GoM Beckons
Gulf of Mexico already show soft demand for acreage from the oil industry. The amount of money per acre that oil companies spent in the Gulf in 2017 was about a third what they spent in 2013 when oil prices were higher, according to a Reuters review of government data. Energy firms bid for less than 1 percent of total U.S. acreage in 2017, compared with 4.5 percent in 2013. But for oil companies, the option of exploring new areas is nice to have, and one they might exploit if oil prices rise. "We'd like an opportunity to look at all of the areas
December 2025
