South Korea: Stena Drilling Wins 5 Year Contract for Its Newbuild Stena IceMAX Drillship

Mb50's "Liquid Mud" Rant

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Stena Drilling has been awarded a 5 year worldwide drilling contract by Shell for the new build Stena IceMAX. The drilling contract which is on market day rates will commence in March when the vessel is delivered from the yard in South Korea. The first assignment for the vessel will be in French Guyana.

Stena IceMAX will be the world’s first dynamically positioned, dual mast ice-class +1A1 drillship, allowing for safe and efficient operations in Arctic conditions. Stena IceMAX is currently under construction by Samsung Heavy Industries at their Geoje Shipyard in South Korea and is the fourth vessel in the Stena DrillMAX fleet.

Following their successful delivery, Stena DrillMAX, Stena Carron and Stena Forth are currently in worldwide operation. Stena IceMAX is based on the existing Stena DrillMAX vessels, providing the optimum layout/specification for a vast range of world-wide operational requirements.

Vessel Particulars:

Displacement (approx) –…

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University of Texas Oil Connections

Mb50's "Liquid Mud" Rant

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This is a picture of the Santa Rita in the early 1920’s.

In 1883, the year UT was opened, an endowment was established by the state of Texas that donated 2.1 million acres in West Texas to help UT. Not much was expected of the desolate land besides to perhaps develop it for real estate. In the 1920’s curious men acquired drilling permits from UT, hoping to strike it rich. There were in fact huge oil discoveries. Oil from the Permian Basin has generously provided for the UT system. The PUF continues to receive royalties from oil and gas production in West Texas while the AUF, Available University Fund, continues to receive all surface lease income. Surface lease usually entails “grazing and easements for power lines and pipelines.”1

Big Lake Oilfield and Santa Rita #1 Oil Well

In 1919, Rupert P. Ricker started advertising the land given to UT…

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Energy: Texas Tops Finds From Brazil to Bakken as Best Prospect

Mb50's "Liquid Mud" Rant

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By Edward Klump – Mar 22, 2012 7:00 PM CT

Energy companies in search of oil riches rivaling the biggest finds from Brazil to Angola are flocking to Texas shale, where new wells have triggered a 230- fold increase in crude output in three years

More than 115 years after a gusher 55 miles (88 kilometers) south of Dallas ushered in Texas’ first oil boom, U.S. producers such as ConocoPhillips and Marathon Oil Corp. (MRO) are counting on the Eagle Ford Shale to boost crude output amid a glut-driven slump in natural-gas prices.

Drilling for oil in the brush-covered plains of south Texas is cheaper and less risky than exploration offshore Brazil, the largest oil find in the Western Hemisphere in 30 years, and more profitable than the remote, rougher terrain of the Bakken Shale in North Dakota and Montana.

“The Eagle Ford is the top basin we have…

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