From today’s Energy Daily newsletter (Bloomberg);
Look out, shale. Competition from the deep sea is roaring back.
The Big Three oilfield service providers — SLB, Baker Hughes Co. and Halliburton Co. — have said for months the hottest new spots to drill are shifting from the West Texas Plains to the waters off South America and elsewhere. Now this week, Chevron Corp. made a $53 billion bet on the deep-sea oil deposits off Guyana by agreeing to buy Hess Corp.
Meanwhile, Noble Corp., the biggest offshore drilling contractor by market value, is gearing up for explorers to put as many as 10 deep-water rigs back to work next year. Compare that with the Federal Reserve Bank of Dallas’ latest survey of shale executives, who said the number of US onshore rigs is apt to remain flat for the next six months.
Guyana and South America, eh? Further down the page…
Siemens Energy AG is in talks with the German government about securing state guarantees as it struggles to shore up its troubled wind-turbine unit. The company is seeking about €16 billion ($16.9 billion) in backstops over two years, according to people familiar with the matter.




