Debt-laden offshore driller Pacific Drilling is evaluating its options, including Chapter 11 bankruptcy, after bondholders of a $439 million bond rejected the company’s request to extend the maturity date beyond December 1, 2017. The company which this week lost long-serving CEO who left “to pursue
U.S. offshore driller Vantage Drilling saw an increase in revenues in the second quarter of the year lifted by jack-up rig contributions. Earlier this week, Vantage reported a net loss of approximately $36.6 million for the three months ended June 30, 2017 as compared to a net loss of $35.7 million
Offshore driller Transocean posted a net loss of $1,69 billion for the second quarter of 2017, compared to a net income of $82 million in the second quarter of 2016, dragged down by jack-up fleet impairment. Revenues were $751 million, down from $940 million a year ago. Second quarter 2017 results i
U.S. offshore driller Rowan Companies sank to a loss during this year’s second quarter with its revenues nearly halved during the period. The driller on Wednesday reported a net loss of $28.7 million for the second quarter of 2017 compared to net income of $216.7 million in the second quarter of 201
The Norwegian Petroleum Directorate (NPD) has granted OMV a drilling permit for an appraisal well on the Wisting discovery in the Barents Sea, offshore Norway. The well 7324/8-3 will be drilled from the Island Innovator semi-submersible drilling rig for the use of which the oil company gained consen
Offshore drilling company Pacific Drilling has informed that its CEO Christian J. Beckett has stepped down from his positions as CEO and as a member of the Board to pursue other opportunities. The company, which provides ultra-deepwater drilling services to the oil and natural gas industry, announce
Oil company Erin Energy on Tuesday announced the arrival of the Pacific Drilling-owned drillship, the Pacific Bora, to the Oyo field offshore Nigeria. Erin executed a drilling services contract with Pacific Drilling for the use of the Pacific Bora back in March. Under the contract, the drillship is
Drilling contractor Diamond Offshore has stacked one semi-sub rig and is selling five others, according to its latest fleet status report on Monday. The fleet report on Monday revealed that the semi-sub Ocean Victory has been stacked in the U.S. Gulf of Mexico. The rig previously worked for BP offsh
Golden Close Maritime Corp, the owner of the Deepsea Metro I drillship, managed by Odfjel Drilling, has received a force majeure notice on the drillship contract. To remind, the rig owner in May said it had secured a contract in South East Asia for the DeepSea Metro I drillship with an undisclosed p
U.S. deepwater drilling contractor Diamond Offshore returned to profit in the second quarter of the year from a loss in the prior-year period. For the second quarter of 2017, the driller on Monday posted a profit of $15.9 million, which compares to a net loss of $589.9 million in the prior-year quar
The Norwegian Petroleum Directorate (NPD) has granted oil major Statoil a drilling permit for a Barents Sea wildcat well. The well, designated 7435/12-1, will be drilled from the Songa Enabler drilling rig following the drilling of wildcat well 7325/4-1 located in the Gemini Nord prospect in the Hoo
Chinese shipbuilder CIMC Raffles has started sea trials for the ultra-deepwater drilling rig Bluewhale II, following the completion of equipment testing. CIMC started sea trials of the rig over the weekend and they are expected to last for three weeks, the builder reported on Monday. Designed to ope
The number of U.S. offshore rigs increased to 24 units last week, according to Friday rig count reports by Baker Hughes, a GE company. Baker Hughes Rig Count: U.S. +8 to 958 rigs U.S. Rig Count is up 8 rigs from last week to 958, with oil rigs up 2 to 766 and gas rigs […]
The Norwegian Petroleum Directorate (NPD) has granted Aker BP a drilling permit for well 25/4-11 in the North Sea. The well 25/4-11, located in a prospect named Hyrokkin, will be drilled by the Maersk Interceptor drilling rig north of Alvheim in the North Sea. The drilling program for well 25/4-11 r
