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Daily Archives: June 14, 2017
Offshore Drilling – All You Need To Know About A Shrinking Fleet, As Of June 12, 2017 – Seeking Alpha
Posted: June 14, 2017 at 4:33 am
Image: Transocean Drillship Discoverer Inspiration
Note: All the data used for my charts are from InfieldsRig.com
Investment Thesis
The offshore drilling industry plays an important role in the oil and gas supply chain; no one can deny this basic principle. Did you know that oil production from offshore locations represented about 29% of the global crude oil production in 2015, according to the EIA? This percentage has been nearly constant since 2005.
The main locations are in Saudi Arabia, Brazil, Mexico, Norway/UK and the USA and represent a total of approximately 27 million BOE/d.
The bulk of the crude production is still in the "shallow waters," which are generally cheaper and less technically challenging when compared to other offshore segments.
"Shallow waters" require a rig less expensive anchored to the rock floor, called a jack-up. This category can be classified into four sub-categories:
However, the move toward "deep waters" and "ultra-deepwaters" projects is clear the past 5 to 10 years, and has required other types of rigs.
Exploratory drilling in "deep waters" and "ultra-deep waters" is naturally more costly and complex for oil majors, but technology advancements and the near exhaustion of shallower prospects left no choice to the oil majors who are turning increasingly to the deeper waters, particularly in Brazil, West Africa and in the Gulf of Mexico.
The rigs required to drill in the "deep waters" segment are called floaters or mainly Drillships or Semi-submersibles. The cost of building such a rig stands in the range of $600 million to over $900 million.
Construction Costs estimated, indicated by Transocean (NYSE:RIG) for the five UDW are:
Semi-submersibles and Drillships can be classified under three sub-categories:
The day rate paid by oil majors depends on the rig specifications, and also the location and duration of the work. The range in day rate can be from $45k/d to as high as $450k/d or more. Day rates have been going down the past three years, due to the crash in oil prices and rig oversupply.
IHS Markit for May 2017 indicates a record low:
Graph overview of the Offshore fleet status Worldwide, as of June 12, 2017 compared to April 8, 2017.
The total rigs stands at 844 as of June 12, according to InfieldRigs (excluding 135 rigs under-construction). The number of rigs actually contracted is 436, which represents 51.7% of the total rigs (Up from 50% in April).
Below are the number per categories.
Global charts study of the Offshore drilling fleet (click graph to enlarge):
The total rigs including the "under construction" is now 979.
436 rigs are actually classified as "operational". Below is the detail per segment:
Details per category: Drillships, Semisubs, Jack-ups and tenders.
Conclusion:
Looking at the Offshore drilling fleet, the numbers confirm that we are still in a serious oversupply situation but signs of balancing start to show up in specific locations.
Utilization which is the percentage of rigs actually working compared to the total rigs in the market -- excluding under-construction -- is 51.7%, which is low and slightly better than in April.
See detail per class below:
The Semi-Submersible segment is the more affected with a utilization rate of 36.1% only, and the jack-up segment is doing better with 57.7%.
One interesting development is the North Sea deepwater location that is now facing a shortage of HE rigs according to Bassoe Offshore:
Harsh-environment rigs compliant with its strict operating standards as demand rises for premium units to carry out an increasing pipeline of drilling work while older rigs are set to be scrapped, according to vessel broker Bassoe Offshore.
The midwater harsh-environment segment is seen as ripe for recovery despite a market slump caused by a lack of demand from oil companies due to low oil prices...
This quick analysis explains why companies such as Noble (NYSE:NE), Ensco (NYSE:ESV) and Rowan Companies (NYSE:RDC) may have a slight advantage in this market, compared to pure floater players such as Atwood (NYSE:ATW), Diamond Offshore (NYSE:DO) or even Transocean (NYSE:RIG).
Jack-up utilization is rising slightly in the jack-up market whereas floater utilization is still shrinking. However, higher utilization for the jack-up group is not translating to a better outlook for day rates which are still below the breakeven level in some cases.
My recent article about the last ONGC tenders for 3 floaters is a good reminder. Please click here to read it.
It also provides an explanation as to why the "distressed" rig market focuses now primarily on the jack-ups. The jack-up segment has been more active recently with a number of acquisitions from newly created companies such as Borr drilling (acquisition of Hercules Triumph and Hercules Resilience and acquisition of the entire Jack-up fleet from Transocean) or Northern Drilling, created by John Fredriksen in relation with Seadrill (NYSE:SDRL), and acquisition of the semisub West Mira.
The semi-submersible group is also an opportunity for a different reason. While the jack-up group is experiencing some new activities, the floaters market - particularly the semi-submersible market - is, conversely, still battling a terrible downturn. This is probably because the deepwater projects have a longer time length with a large initial cost, and oil majors are still reluctant to commit large amount of cash in exploration capex, especially with oil prices now below $50 a barrel.
Unfortunately, the recent wave of bankruptcies and reorganizations that the offshore drilling industry is now facing will not solve the rig oversupply problem and perhaps may aggravate and prolong the struggling battle by adding more competition and misery.
After Hercules offshore we have now Paragon Offshore (OTCPK:PGNPQ), Ocean Rig UDW (NASDAQ:ORIG) and soon SDRL/NADL and probably Pacific Drilling (NYSE:PACD).
A new trend may have started recently with Ensco (NYSE:ESV) acquiring Atwood Oceanics (NYSE:ATW) in a all-stock merger. Please click here to read my article.
As I have explained in another article, bankruptcy is not the end of the road but, in fact, it is the beginning of the new one and an increase in competition.
Finally, I am totally convinced that the offshore drilling industry will emerge from this downturn as it has always. Investors and traders will have to analyze the fundamental seriously to eventually pick the right time for investing in this sector (versus trading the sector).
I do not see it immediately, but I believe the sector will bounce back in about 12 to 18 months (depending on the oil prices, of course). This situation will affect the market and it will create some sharp volatility for the next 8 months, which is appealing to traders.
Important note: Do not forget to follow me on the offshore industry. Thank you for your support.
Disclosure: I am/we are long RIG, ESV.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: I am actually trading and day trading the sector exclusively for the last two years. I trade most of the stocks indicated in my article, but still hold a few long positions.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
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Encana prepares to close Deep Panuke offshore gas project – CBC.ca
Posted: at 4:33 am
Nova Scotia's offshore natural gas industry is about to take another hit, as Encana Corp. prepares to close its Deep Panukeproject.
The Calgary-based energy producer published an expression of interest last month seeking companies to plug its fivesubseawells. The request for bids closed June 8.
Encanaspokesman Doug Hock said there's no set timeline for the project's closure, but the company aims to have the plugging work completed between 2019 and 2021.
"We are in the latter phases of the life of the project but... we're operating on a seasonal basis to get the most value from the project," he said.
The Deep Panuke project is located about 250 kilometres southeast of Halifax.
WithExxonMobil'sSable Offshore Energy Project also winding down, the closures signal change for the province's natural gas sector.
Sandy MacMullin, the executive director of the provincial Energy Department's petroleum branch, said the two closures don't necessarily mean the sector is dead in the water.
The Deep Panuke gas field is about 250 kilometres southeast of Halifax on the Scotia shelf. (The Canadian Press)
"I think it's fair to say that right now we're probably looking at a windup of gas production in the short term," he said.
"That being said, it'snot absolute becausethere are always companies that are looking at offshore assets and looking where they can develop some undeveloped resources."
The Deep Panuke project has been plagued by problems since long before the gas began flowing. Originally, production was supposed to start in 2005, but it didn't begin until 2013.
In 2003, Encana asked for a "time out" from the regulatory approval process because the company was no longer sure there was enough natural gas to make the project worthwhile. Crews had hit four dry wells over the previous two years. But later in 2003, the company drilled two successful wells and decided to go ahead with the project after all.
The Acergy Discovery hit the Deep Panuke natural gas platform in 2011. (CBC)
By October 2007, Deep Panuke had passed all the provincial and federal regulation requirements and the company set a goal of beginning production by 2010.
In 2011, a ship hit the platform. The start date was repeatedly delayed first to 2011, then to 2012, then to 2013. In January 2013, a fire broke out in an electrical cabinet in the emergency switchboard room on the platform, and another fire hit the project in 2014.
Production finally started in late 2013, and Encana reaped huge profits from the project in early in 2014, thanks in part to high gas prices.
But by November 2014, Encana announced a planned shutdown to deal with water that was seeping into the gas reserve. By March 2015, it was announced that the project would yield at least 50 per cent less gas than originally thought, thanks to the water in the reservoir. Since then, it has only been operating seasonally.
Hock admitsthat Deep Panuke has encountered challenges, including the water problem. Asked whether production met expectations, he simply said, "projects evolve over time."
So, was the project worthwhile for Encana?
"It's generated cash flow for us, so it certainly has provided some value for us and will continue on in that manner," Hock said.
Encana has encountered many troubles with the Deep Panuke project since its inception. (The Canadian Press)
MacMullinis a bit more blunt.
"Sometimes you end up with nice surprises.Sometimes you end up with asurpriseyou weren't hoping for," he said.
"The test results from the wells were very, very positive. They had flowed a lot of gas without having to break too much sweat but there was always an underlying fear that pardon the pun, but water that sits under that gas column would potentially break through into the wells and end up with premature decline in gas production.
"It's fair to say it wasn'tunexpected, but yeah, it's disappointing."
ExxonMobilexpects a rig to arrive off Nova Scotia in late 2017 or early 2018 to begin plugging the wells at the Sable Offshore Energy Project, which has been producing gas since 1999 just off Sable Island.Production will continue while that work gets underway. ExxonMobil aims to start removingthe offshore facilities in 2020, a company spokesman said.
The Sable Offshore Energy Project has generated almost $2 billion in royalties for the province of Nova Scotia over the project's lifespan. (Canada-Nova Scotia Offshore Petroleum Board)
MacMullin said the Sable Projectwas a success on several fronts, as it helped develop the market for natural gas in Atlantic Canada, showed that the area can produce gas for a lengthy period of time, generated royalties for the province of about $2 billion over its lifespan, andwas "a really good employer."
Between Deep Panuke and the Sable Project, the province has received $149 million in revenues since 2010, including projected revenues for 2017-18.
Once gas stops flowing from Deep Panuke and the Sable Project, consumers could see a bump in prices.
Ray Ritcey, the CEO of theMaritimes Energy Association, anot-for-profit organization that representsbusinesses that provide goods and services to the energy industry, saidthat increase would likely be greater than 10 per cent.
"At some point if you do not replace the gas supply with locally produced gas supply, you're going to be replacing it with higher-priced gas supply.
Consumers of natural gas may see a price increase once Deep Panuke and the Sable Project are closed down.
"So for consumers of natural gas in the province, they are going to incur a higher cost for the product mainly because it has to move here from another location."
MacMullin agrees that the price will likely rise.
"It will affect it. Whether it's significant or not remains to be seen," he said. "The issue is going to be, is the cost of natural gas going to be so high thatit's going to cause customers to switch to a different fuel?"
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Encana prepares to close Deep Panuke offshore gas project - CBC.ca
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Interislander sailings resuming after severe weather causes cancellations – Scoop.co.nz (press release)
Posted: at 4:33 am
News from KiwiRail Sailings of the Interislander ferries will resume from Thursday morning. Wednesday sailings were cancelled due to severe weather but forecasts show that swells will reduce overnight making early morning sailings possible.
The first sailing is a scheduled freight service leaving Wellington at 06.45am, with the first passenger service leaving Wellington at 9am. Accordingly our first scheduled service ex Picton is 10.45am for Passengers and Freight.
Customers whose travel or freight was delayed have been accommodated on sailings throughout the day and we thank them for their patience. We are always striving to deliver the best possible service, but safety is paramount, Interislander General Manager Operations Mark Thompson says.
For more information about sailings please contact the Interisland Service Desk on 0800 802 802 or info@interislander.co.nz
News from KiwiRail June 13 All Wednesday sailings of the Interislander ferries have been cancelled because of predicted severe weather in Cook Strait, with 7.5 metre high waves expected.
The last ferry to sail from Wellington will leave at 8.30pm today, with the return sailing departing from Picton at 2.30am Wednesday morning.
At this stage sailings are expected to resume at 6.30am on Thursday.
We regret the inconvenience to our customers. We are always striving to deliver the best possible service, but safety is paramount, Interislander General Manager Operations Mark Thompson says.
News from MetService There is a possibility of severe northwest gales in coastal Wairarapa and the Wellington South Coast from late Wednesday morning until Wednesday evening.
Very large, potentially damaging seas are possible about some eastern and southern coasts, including the Wellington south coast.
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5 idyllic private island retreats – CNN International
Posted: at 4:31 am
( CNN ) How do you avoid the throngs of sun seekers when you just want a waterfront vacation away from it all?
A private island, where you're secluded from all but a handful of staff and fellow guests, may be just what the doctor ordered.
Here are four tropical, and one not-so-tropical, island getaways where you can escape and unwind.
Necker Island is available for $80,000 a night.
One of the most famous and over-the-top private islands is this Caribbean compound owned by Sir Richard Branson.
You, along with 33 of your best friends and family, can live it up here as well for a cool $80,000 a night.
For that sum you'll have access to the island's 17 guest bedrooms, along with the bunkhouse that sleeps up to six kids; multiple pools; tennis courts; spa; a full staff, including Michelin-trained chefs; all sorts of recreational toys and watersports (there's even a zip line); and more.
If the entire island is a bit out of reach, you can also sign up for one of what they call their Celebration Weeks, when you can rent out an individual room for three to 10 nights.
$80,000 per night for the entire island for up to 34 people; $4,280 per couple per night during Celebration Weeks
The Meridian Club's Sand Dollar Cottage is steps from the beach.
All of the rooms here look out onto the water and feature a screened-in porch where you can sit back and savor the view.
Another major perk of a stay here is that the Meridian Club is all inclusive, so everything from your meals to your equipment rentals is included. Heck, even the postcards are included.
Rates start at $895 per night.
The way you get the staff's attention here is with flags; hoist up the yellow flag to let them know you need room service, transportation somewhere or have some other request, and let the red flag fly when you just want to be left alone.
Here, amid the miles of white-sand beach and tropical woodland, you can fully unwind and take a break from all of the texts, emails and phone calls that bombard our daily lives.
Your only tasks involve sampling some locally caught seafood at one of the weekly beach barbecues, enjoying an alfresco massage at the hillside spa and taking a leisurely barefoot stroll under the starlit sky.
Rates start at $1,100 a night.
The Renaissance Aruba ferries guests to its own private island.
Just head to the boat dock on the lower level immediately below the lobby for the eight-minute ride to the resort's 40-acre private enclave, where you can feed the flamingos, go snorkeling, grab lunch and a cocktail, or simply kick back in a hammock with a good book.
The island is even separated into two distinct sides -- one for families and one for adults only.
Room rates start at $168.
Of course, not all islands have swaying palms and sandy beaches. Take this remote 80-acre refuge in the heart of New England. Its landscape is mostly spruce forest, surrounded by a granite shoreline and clusters of small neighboring islands almost as far as the eye can see.
A vacation here reminds you a bit of summer camp, with sailing and fishing, horseshoes, badminton and roasting marshmallows over a toasty fire.
Proprietor Colie O'Donnell, who bought the island back in 1986, says that kids who stay here often just pitch a tent and sleep out by the water's edge, despite the fact that the property has a total of 18 beds in both the big main house and the bunkhouse.
Rates start at $8,500 a week in peak season from mid-June to Labor Day.
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Luxury travel: The most remote resorts in the Philippines – CNN
Posted: at 4:31 am
Editor's Note CNN Travel's series often carries sponsorship originating from the countries and regions we profile. However, CNN retains full editorial control over all of its reports. Read the policy.
( CNN ) Whether you're in search of an all-inclusive luxury resort or a chilled-out beach villa, the Philippines has no shortage of remote retreats to whisk intrepid travelers off the grid.
Home to more than 7,000 islands, the Southeast Asian archipelago counts abundant marine life, colorful reefs and pristine beaches among its selling points.
But you'll want to get there soon.
While the cluster of resorts along Manila Bay are easy enough to find, you'll have to work a little harder to check out these far-flung hotels.
Amanpulo is one luxurious adventure.
Claiming a plot of sand on its own private island, Amanpulo is all about off-grid luxury.
The exclusive address sprawls across 89-hectare Pamalican Island in the Sulu Sea -- about an hour's flight southwest of Manila.
The only catch? To get here, travelers must spring for a chartered flight -- the 15-seat jet lands on the island's own private airstrip.
But, then again, if you're staying at Amanpulo, you can probably afford it.
Upon arrival guests settle into a beautifully appointed villa, designed using natural materials such as Cebu marble, coconut shell table tops and pebbled walls.
The experience includes a personal butler, private plunge pools and even personal chefs in some of the top-end villas.
Active types, rejoice: Most days will revolve around exploring the pristine surrounds -- think jungle trekking, diving, snorkeling, cycling, turtle spotting and tennis.
For those looking for peace and quiet, Qi Palawan is about as secluded as it gets.
To access this family-run retreat, travelers must catch an hour-long flight from Manila to El Nido Airport, followed by an hour's drive to the northeastern edge of Palawan island.
You know you're close when the van bumps along a dirt road in the middle of nowhere.
Once there, it's nothing but sea views, breezy hammocks and lush gardens.
Taking eco-conscious measures to reduce its carbon footprint, the retreat features back-to-basics luxuries such as locally made soaps, an organic herb garden and open-air architecture.
There are seven bamboo villas, a yoga pavilion and an open-air restaurant helmed by one of the best chefs in Palawan.
Guests can try their hand at kiteboarding on the beach or take a day trip to nearby dive sites and remote islands.
Other highlights include a picnic lunch, snorkeling or a venture to the lush Linapacan island group, considered one of the most pristine locations in the Philippines.
Hummingbirds, dense forests, limestone cliffs, waterfalls and lakes -- Caramoan Island is an idyllic corner of south-central Philippines.
In the middle of it all is Tugawe Cove Resort. Built along a hillside above Lauing Bay, the elevated outpost offers panoramic views of Sombrero, Loto and Litao islands in the distance.
There's an open-air restaurant and an infinity pool perched at the top of the hill, and a path that leads down to the water.
At the beach, guests can hop into a kayak, don snorkeling gear or try their hand at paddle boarding.
The rooms' warm wood finishes and ocean tones echo the surrounds -- with options to stay in three distinct areas: by the nearby lake, along the hillside or at the very top.
Reaching Tugawe Cove Resort requires careful planning to align with the limited flight schedules.
Expect an hour-long flight from Manila to Virac, followed by a 45-minute ride to Codon port, and a 30-minute boat ride to the resort.
Amarela embraces with an all-natural aesthetic.
A low-key beach resort overlooking the Bohol Sea, Amarela is at home on a secluded beach on Panglao Island.
All about the carefree island lifestyle, the 31-room retreat is a one-hour plane ride from Manila to Tagbilaran, Bohol's capital, followed by a 30-minute car transfer.
Amarela's location is far enough away to feel remote, but close enough to offer relatively easy access to a few worthwhile attractions on Panglao island.
The main draws include the photogenic Puntod sandbar, Hinagdanan cave and lagoon, Balicasag's colorful reefs, and pristine Alona Beach.
Keeping with the all-natural aesthetics, the resort's rooms have been designed to complement the surrounds -- picture reclaimed wood, antique furniture, local art and a warm, earthy palette.
Located on Panglao Island in south-central Philippines, Eskaya Beach Resort & Spa stretches across 16 scenic hectares of rustic gardens and dramatic cliffs.
The luxury resort feels remote thanks to its position on the southernmost tip of Bohol, but it's relatively easy to reach -- just a one-hour flight south of Manila, followed by a 30-minute drive.
Relaxed yet refined, all the thatched-roof villas feature private pools, but the hotel's infinity pool is the pice de rsistance.
The water's perfect shade of turquoise tricks the eye into thinking the pool spills into the ocean.
The pool may look inviting but there are plenty of other water activities at this oceanfront address -- from dolphin watching to sunset cruises, snorkeling, scuba diving, kayaking and island hopping.
Apulit Island's over-water cottages promise unobstructed views.
El Nido Resort is usually one of the first names to pop up when researching hotels in Palawan.
The string of boutique properties was one of the first luxury ventures to touch down in El Nido more than 30 years ago, when there were only a handful of modest beach bungalows in the area.
The most remote in the El Nido Resorts portfolio? Apulit Island.
Situated on the eastern coast of Palawan in lesser frequented Taytay Bay, this eco-adventure spot is surrounded by imposing limestone cliffs.
A vacation here offers an adrenaline-filled few days of diving -- there's a Japanese shipwreck just off the coast -- snorkeling, cliff jumping, rock climbing, rappelling, spelunking, snorkeling and island hopping.
Built on stilts, the 50 over-water cottages promise unobstructed sea views and easy access to the turquoise water below.
Most travelers budget at least a week to enjoy the area, due to the lengthy trip.
Plan for a one-hour flight from Manila to El Nido, followed by a 1.5-hour drive east, and an hour-long boat transfer.
Hidden away in the southeastern Bicol Region of the Philippines, Ticao Island Resort enjoys a long stretch of sand all to itself.
It's a well-earned reward after a long trip. To reach the island outpost, expect an hourlong flight to Legazpi City from Manila, followed by a 1.5-hour drive and a 2-hour outrigger boat ride.
Upon arrival, guests quickly settle into the laid-back island life thanks to full-board rates and nearly all-inclusive activities.
The beachfront cabanas and rustic surrounds are perfect for back-to-basics getaways -- picture simply appointed thatched roof huts, breezy decks, an open-air restaurant and uninterrupted ocean views.
Thanks to the manta ray and whale shark populations nearby, the address has developed a reputation for its diving classes and tours.
One of the hotel's partners is also the founder of the Manta Bowl dive site. Ideal for experienced divers, the site is like an underwater ride thanks to a current that pulls divers through the water alongside fevers of rays.
Back on land, Ticao Island Resort offers a full roster of activities, including jungle treks, horseback riding, billiards, darts and outings to nearby Mayon Volcano.
Atmosphere Resort & Spa conveniently sits opposite the Apo Island Marine Sanctuary.
An independently owned resort, Atmosphere Resort & Spa is run by two British expats -- a scuba diver and an architect -- who met in the Philippines more than 15 years ago.
The husband-and-wife duo couldn't have picked a better location -- picture dark volcanic sand beaches in the shadow of Mount Talinis.
Thanks to minerals in the sand from the nearby volcano, the area's marine life is unique and varied, attracting underwater photographers and divers from all over the world.
The address conveniently sits opposite the Apo Island Marine Sanctuary, which makes for easy snorkeling and diving excursions.
Emphasizing health and wellness, Atmosphere comes fully equipped with a gluten-free and vegan-friendly bakery, daily yoga classes by the beach and a secret garden-like spa where treatment pavilions are surrounded by waterfalls.
The destination is relaxing, but getting here takes some effort.
To reach the resort, travelers fly into Dumaguete airport -- about an hour-long flight south of Manila -- followed by a 40-minute drive.
A recently opened resort on its own outlying island -- off the coast of El Nido in Palawan -- Cauayan Resort aims to attract a well-heeled crowd.
To reach the private island resort, travelers typically fly from Manila to El Nido, followed by a 15-minute transfer to the port and a 30-minute boat ride.
The stylish resort offers a mix of private villas, a few scattered around a lagoon and the rest right on the beach, where baby whale sharks swim freely.
Each of the 24 bungalows is decked out with teak wood, king-sized beds and rain showers, while the Grand Cauayan Pool Villa features two bedrooms and a private pool.
Aside from the bamboo bungalows and some wooden steps, Cauayan Island is still an untouched tropical jungle, so expect back-to-nature experiences with insects, birds, and unexpected animal encounters.
To make the most of its location in scenic Bacuit Bay, the hotel runs daily island hopping outings, which may include stops at the aptly named Secret and Hidden beaches nearby, as well as the iconic Big and Small lagoons, accessible by kayak.
Every detail has been designed to celebrate the area's natural beauty.
This is the place for carefree island vibes and a stretch of empty sand.
Dedon Island is a remote outpost on Siargao Island in the far south of the archipelago, about a five-hour trip from Manila via Cebu, followed by a 40-minute ride in the hotel's jeepney bus.
The luxurious retreat offers all-inclusive rates, so you can spend your time sipping sundowners rather than counting coins.
From open-air pavilions to coconut tree groves, frangipani gardens, a hidden treehouse, romantic day beds and bird's nest woven chairs, it seems every detail has been designed to celebrate the area's natural beauty.
The upscale address is also a favorite among well-to-do surfing enthusiasts, thanks to its proximity to Cloud 9 -- a break in the Philippine Deep trench known for picture-perfect tubes.
Can't balance on a board? No to worry -- there's a wide lineup of activities, including deep-sea fishing, kayaking, wakeboarding, island hopping, biking and relaxing evenings at the outdoor cinema.
A personal butler, airport transfers, poker nights, an outdoor cinema and a gorgeous pool -- Siargao Bleu Resort and Spa is not a typical beach retreat.
There are 40 villas and hotel rooms -- some with Jacuzzis, and all with ocean views.
The hotel operates tours all over the island, including trips to the nearby rock pools, crocodile sanctuary, mangroves and even water buffalo rides at sunset.
Just a five-minute walk to the famous Cloud 9 swell, the resort also offers a special package aimed at experienced and aspiring surfers.
To get here? It's a one-hour flight from Cebu to Del Carmen in Siargao, then a 45-minute complimentary van transfer to the hotel.
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Luxury travel: The most remote resorts in the Philippines - CNN
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NASA-Funded Company Wants to Redefine Space Travel With … – Futurism
Posted: at 4:30 am
In BriefA company funded by NASA is proposing the development and useof fusion rockets, which are propelled by the same nuclearprocesses that power stars. Nuclear Powered Rockets
Princeton Satellite Systems, which is funded by NASA, has announced the possibility of fusion reactor rockets which could according to the companys president Michael Paluszekenable new and exciting science missions that are too expensive and difficult to do with todays technology. Such missions could include propelling spaceships towards planets and stars, exploring space deeper than we ever have before, and deflecting asteroids.
Fusion rockets are propelled by the same nuclear processes that power stars. They can produce more energy and do so more efficiently than traditionalchemical propellant or ion drive designs. Princeton Satellite Systems design uses nuclear fusion by heating a mix of deuterium and helium-3 with low-frequency radio waves, then harnessesthe energy produced with magnetic fields. This technique confinesthe resulting plasma in a ring. As theplasma spirals out of the ring, it can be directed towards the blasters.
While this system would prove expensive for bigger projects (around $20 billion), the smaller rocket estimated to be 1.5 meters (4.9 feet) in diameter and 4 to 8 meters (13 to 26 feet) long would only cost about$20million per generator; ten times cheaper than the larger model.
Cost aside, there are still two other significantobstacles:first, the system would emit so much radiation that it would preclude the propulsion of any spacecraft with humans aboard, and second, while one generator may only cost the relatively small sum of $20 million, each ship would have to contain multiple generators to ensure both the stability of the plasma, andto make them capable of achieving thespeeds the rockets aspire to.
Space travel has become a trend among the worlds tech elite, with many big names intechnology working to develop canny ways explore the final frontier further,ideallyby sending humans into outer space to guide those expeditions.
Paul Allen recently revealed the worlds largest plane, which aims to take spacecraft to the atmosphere, thereby reducing the amount of energy required to launch spacecraft from Earth.
Elon Musk has had a series of successful test runs for reusable rockets, including the Dragon spacecrafts second landing at the International Space Station. He plans to test the Falcon Heavy rocket, designed totake people to the moon,in the next few months.
Related to one of the fission rockets goals of transporting robots to make observations of never-before seen parts of the galaxy is NASAs mission to touch the sun with its Parker Solar Probe. The probe will investigate solar wind and gather more data on our closest star thanweve ever had before.
Gaining a deeper understanding ofand visiting space has never been closer in our reach.Ideas like these are endlessly exciting and may be a sign that we may beentering the golden age of space travel.
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NASA-Funded Company Wants to Redefine Space Travel With ... - Futurism
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KFC’s Zinger Sandwich Prepares for Space Travel – QSR magazine (press release) (registration)
Posted: at 4:30 am
Come the end of June, KFCs Zinger chicken sandwich will truly be in rare air.
Stratospheric exploration company World View announced Tuesday it plans to carry the chicken chains sandwich during the first extended duration development flight of its high-altitude Stratollite. In other words: KFCs chicken sandwich is headed to space, or at least to the stratosphere, some 60,00080,000 feet above Earths surface.
Were excited to be the ones pushing spicy, crispy chicken sandwich space travel forward, says Kevin Hochman, KFC U.S. president, in a statement. But in all seriousness, were proud to support World Views commitment to advancing space research and trust them to take our world famous Zinger sandwich to space.
The launch window opens June 21 and the flight will be broadcast live. KFC even has an entire website dedicated to the experience.
One of World Views ultimate goals is to send passengers on five- to six-hour flights on a system called Voyager. Tickets are currently selling for $75,000, with a target date of sometime in 2017.
But for now, the company will forge ahead with KFCs Zinger in the drivers seat.
The Stratollite is spearheading a new market for data collection of our planet, the environment and human activity from a perch at the very edge of space, says Jane Poynter, World View founder and CEO, in a statement. This next mission will be our first attempt to really push the envelope with a flight designed to test, for the very first time, all the integrated critical systems needed to bring this Stratollite online for commercial markets.
KFC unveiled the Zinger spicy chicken sandwich to U.S. audiences April 24. Already a hit in more than 120 countries (Australia alone sells more than 22 million Zingers each year), the brand is banking on big things.
If exposure was the roadblock, this trip into the unknown should do it.
KFC and creative agency Wieden+Kennedy approached World View about the idea. World View says it saw the opportunity as a chance to demonstrate its technology to a mass audience, while simultaneously financing a portion of the vehicles development program. Thus, the World View and KFC partnership was born, aiming to usher in a new era of stratospheric discovery and chicken sandwich space exploration.
Stratollites have the capability of carrying a wide variety of commercial payloads, the company says. Everything from sensors to telescopes to communications arrays. This could help scientists identify and track severe weather, provide WiFi, and assist first responders during natural disasters.
Previous test flight have lasted just 612 hours in length. This KFC journey is scheduled for four days. The solar-powered balloons, according to the company, can fly up to 28.5 miles above the planet.
The Stratollite was created to deliver more routine and meaningful access to space for all, and this mission allows us to give edge-of-space access to a commercial customer that would previously deem a project like this unimaginable, says Taber MacCallum, World View co-founder and chief technology officer, in a statement. Sure, this whole chicken sandwich payload is a bit funny. But, KFC gets to embark upon a one-of-a-kind marketing experiment, while we get to pursue our first multi-day shakedown cruise in the stratosphere. Its a win for all. Were pleased to have the opportunity to creatively bridge the divide between our industry and global brands that carry a more mainstream audience.
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KFC's Zinger Sandwich Prepares for Space Travel - QSR magazine (press release) (registration)
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Neil deGrasse Tyson is Kickstarting a Space Travel Video Game – Geek
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When hes not hanging out in the Ziff Davis office guesting on our premier talk show The Convo or talking about Star Trek captains, everyones favorite charming astrophysicist Neil deGrasse Tyson shares his knowledge of the universe with the masses. Whether its on his radio show StarTalk or his Cosmos TV reboot, if you want to know about space, hes your guy.
But what if you dont watch TV or listen to the radio? What if you want to learn about star stuff but all you do is play video games? At E3, we got a solution. Neil deGrasse Tyson is Kickstarting a video game about space exploration.
Neil deGrasse Tyson Presents Space Odyssey is a downloadable game for PC and Mac, and the campaign makes it sound a more modest take on No Mans Sky combined with Tysons knowledge of the actual, real universe. Players begin on Proxima b, a real planet discovered in 2016 thats 4.2 light years away and the closest known exoplanet to the Solar System. From there Tysons voice answers questions and guides players of all ages to the surfaces of other planets and moons, creating an online community of astronomy enthusiasts. Theres also a world-building mod component. Hopefully the in-game currency isnt too egregious.
The other force behind Space Odyssey is a kind of proprietary physics engine. Apparently, Tyson is giving input to make the physics as realistic, educational, and accurate as possible. The 3D language and scripting can create real-time physics puzzles, too.
If you want to hop onboard Neil deGrasse Tysons Space Odyssey check out more details on the Kickstarter page. The target is $314,159 and theres a month and a half left to go. Weve got a crowdfunding campaign over here.
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Exotic meats a substitute for time and space travel – The Herald-Times (subscription)
Posted: at 4:30 am
Taboo for some and trendy for others, the real heart of the Butcher's Block's exotic meats list may actually be marinated more in tradition than any sort of novelty.
I have a vivid childhood memory of absolutely badgering my mother for green eggs and ham. It's hard to tell whether it was due to an emerging taste for the exotic or the firm insistence of Sam I Am, but I can be sure of one thing: the dish was far better in concept than it was in execution. Later in life, during my time in Cambodia, I once ordered an omelet and received a mound of rice topped with what I assumed to be chicken breast. All I can say is I'm certain there was something more foul than chicken on my plate.
Perhaps all of this uncertainty and intrigue is meant to demonstrate why I recently found myself in the Butcher's Block, discussing which meat between kangaroo, camel, antelope or alpaca was most flavor-forward and different from the standard fare of beef, poultry or pork.
"Its interesting that theyre not that much different," David Schell, owner of Butcher's Block, later said over the phone." Its what we create in our minds that puts these things in our heads."
Whether it's because of globalization or an understanding of the similar anatomies between animals of all types, Schell said the strange is no longer strange. When your nation bills itself as a melting pot, there will inevitably be an intermingling of cultures and culinary infusions.
"I think the bigger hurdle is whether you eat meat or not," Schell said. "Once you understand youre OK with eating animal protein, its just another way to make a creative meal for your family."
Schell pointed to our region and how many within a 30 mile radius of Bloomington wouldn't think twice about eating venison because of the prevalence of hunting in southern Indiana. Eating wild game such as deer, duck or rabbit may seem strange to others even within the state, but hunting what's close in proximity is something that's been going on since the beginning of time.
"The United States is so unique, for better or worse, in how we view food. Its all about what somebody is familiar with," Schell said. "You leave the bubble of the Midwest and your perspective opens up. Its just amazing what that can do to somebodys tastes and views in general."
Having recently traveled to Mexico, Schell said he saw cricket tacos as well as crickets in salt and lime at a resort. Whereas other cultures have readily accepted insects as a sustainable and alternative protein, Schell said our nation is only recently adopting such a diet.
Though, more progressive cities, such as San Francisco and Seattle, have been quicker to accept bugs into their diets. You can now get a basket of toasted grasshoppers to go with your Cracker Jacks when you visit the Mariner's Safeco Field in Seattle, Washington.
Butcher's Block has entertained the idea of insect protein, Schell said, but there are some exotics the store won't touch.
"We do draw a line at some point," Schell said. "There are certain species we wont carry because weve had too much resistance with the offerings that would be available."
While the venison listing often prompts jokes about Bambi, don't expect to hear any jokes about Rover or Whiskers. For now, you'll have to travel to find any dog, cat or horse meat.
At an average of $20 per pound of ground exotic meat, the culinary adventures you go on should still be less than the cost of a plane ticket to Peru or Cambodia. For those that have grown up eating camel or wild boar, a return to culinary tradition can transcend both time and space.
Butcher's Block employee Rob Dicks said the ground exotics the store typically keeps on hand tend to offer flavor profiles comparable to ground beef. He sold me on ground, farm-raised alpaca sourced from Minnesota and cooked over an open grill in the style of a Greek kofta, which is a sort of kebab that typically uses a mixture of lamb and beef. The recipe was a good fit, since the Peruvian staple falls somewhere between lamb and beef with a hint of sweetness.
I'll probably never look back to my mother's green eggs and ham or the Cambodian mystery meat I dutifully ate with any sort of fondness, but I do know that what you eat today may set up your palate for tomorrow.
Schell said one of his first exposures to an exotic meat occurred when he spent several months in Leone, France, where a lot of specially prepared dishes in the region include organs. Because he didn't speak French, he accidentally ordered what he now believes to be veal heart, and it was experience that opened his mind to trying new things.
"When I started getting into food that was plated, that was kind of an eye opener," Schell said. "There is value in things that have no value to someone else in the world."
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Exotic meats a substitute for time and space travel - The Herald-Times (subscription)
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Flatworm Travels to Space With One Head, Comes Back With Two – Discover Magazine (blog)
Posted: at 4:30 am
The double-headed worm from space. Look for the googly eyes.(Credit: Junji Morokuma/Tufts University)
Researchers have been sending animals to space for decades, and the growing roster includeseverything from dogs andmonkeys to scorpions and jellyfish. But a morerecent animal space traveler returned to Earth with something never before seen: an extra head.
The newly bi-cranial creature is a flatworm of the speciesDugesia japonica, one of 15 flown above the International Space Station for five weeks by Tufts University researchers. The flatworms were cut in half before being launched to study their unique regenerative abilities. Severing a flatworm usually just results in two identical flatworms, but something appears to have gone awry in one individual, who returned with another head where his tail should have been.
This behavior has been observed before in the species, but its exceedingly rare the Tufts researchers say theyve never seen it happen before, evenafter 18 years of working with a colony that now contains over 15,000 flatworms. Even more intriguing, the mutantflatworm kept on making two-headed copies of itself as it further divided, indicating that it wasnt a freak mutation but a true change in the invertebrates physiological makeup.
The 14 other flatworms that experienced the unique stresses of outer space experienced fundamental changes as well, although none so noticeable. The researchers observed them for 20 months after their return and found changes in their behavior when exposed to light and in the content of their microbiomes as compared to control flatworms kept on Earth.
In a paper published Tuesday in the journal Regeneration,the researchers propose that the absence of both gravitational and magnetic fields in space could have something to do with the dramatic transformation. Previous research into flatworms has indicated that Earths magnetic field influences how the basic structure of their cells grows, and the microgravity aboard the ISS could be affectingeverything from gene expression to how ion channels within their bodies communicate. These effects likely extend beyond flatworms as well, making research into their space travel side effects highly informative for future human missions.
We already know that astronauts experience significant physical changes when in space: bones and muscles atrophy, eyesight can falter, blood thins and the sense of taste is diminished. Long-term issues could include vision impairment, heart disease and more, although further study is still needed. Ongoing tests of astronaut Scott Kelly, who spent nearly a year in space, and his twin brother who remained on Earth could reveal additional long-term effects of space travel.
The researchers hope that the flatworm experiment marks only the first of many such research projects. Because they were unable to control for every variable, such as temperature differences during the flight and the stresses of takeoff and landing, they plan to conduct further experiments to pin down the exact mechanisms that affect flatworm physiology in space. In addition, their two-headed worm represents a sample size of just one. To truly scientifically validate their finding, theyll need to replicate their results.
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Flatworm Travels to Space With One Head, Comes Back With Two - Discover Magazine (blog)
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