Energy Business Recap: Cnooc’s Confidence, Noble and Atwood Partner Up
The saga goes on. In this episode, Cnooc Limited (NYSE:CEO) shows confidence that Canada will indeed authorize its $15.1 billion purchase of Nexen (NYSE:NXY), because interviews with regional premiers found none of them particularly concerned about the transaction, according to Reuters. The provincial premiers do not get to vote, but they can be influential.
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Four Indonesian employees of Chevron Corporation (NYSE:CVX) have been arrested in that country as part of an inquiry into alleged corruption taking place at an environmental remediation project. Recently there have been disputes between oil companies and Indonesian regulators in regards to the project’s cost-recovery process.
Noble Energy (NYSE:NBL) reaches a 36-month agreement with Atwood Oceanics (NYSE:ATW) to construct a new drillship to support its global deepwater exploration and development. Delivery should occur in the fourth quarter of next year, when the rate of $584,000 per day will begin, putting the total contract backlog for Atwood at some $640 million.
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