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Stock Market & Financial Investment News

News Breaks
June 4, 2014
09:57 EDTDO, STODiamond Offshore announces contract termination on Ocean Vanguard
Diamond Offshore Drilling (DO) announced that a subsidiary has received notice of termination of its drilling contract for the mid-water semisubmersible Ocean Vanguard from Statoil ASA (STO), its customer for the rig. The contract provides for a dayrate of approximately $454,000 and was estimated to conclude in accordance with its terms in late February 2015. Diamond Offshore disputes Statoil's basis for terminating the contract and intends to defend its rights under the drilling contract.
News For DO;STO From The Last 14 Days
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September 12, 2014
05:26 EDTSTOStatoil exits two assets on NCS for $1.3B
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September 10, 2014
09:07 EDTSTOGE, Statoil, Ferus Natural Gas Fuels announce pilot project expansion
A joint venture of GE (GE) and Ferus Natural Gas Fuels,along with Statoil (STO) announced the planned expansion of a pilot project to capture flare gas and use it to power up to six of Statoilís drill rigs and one frac fleet in North Dakota. The expansion is the first step by Statoil to move into full commercial adoption of the GE and Ferus NGF joint ventureís Last Mile Fueling Solution, which is expected to reduce emissions and provide cost-savings and logistics solutions for the companyís Bakken oilfield operations. The company anticipates this new commercial expansion will increase its flare gas capture to between 3M-5M standard cubic feet per day by the end of 2014, equating to GHG emissions reductions of between 120K and up to 200K metric tons per year, or the equivalent of removing between 25K-45K cars from the road.

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