Drilling contractor Paragon Offshore has been awarded a contract for a jack-up rig in the UK sector of the North Sea and decided to scrap one semi-submersible rig. In its latest fleet status report issued on Friday, March 10 the driller said the jack-up rig B391 has been awarded a subsea plug and ab
Malaysian drilling contractor UMW Offshore Drilling has been awarded a contract for the provision of a jack-up drilling rig from compatriot Vestigo Petroleum. UMW Offshore Drilling, a subsidiary of UMW Malaysian Ventures which is in turn a subsidiary of UMW Oil & Gas Corporation (UMW-OG), will suppl
Offshore driller Seadrill has reached a settlement agreement with Hyundai Samho Heavy Industries Co Ltd. (HSHI) in relation to the West Mira rig arbitration. To remind, Seadrill in September 2015 terminated a contract with Hyundai for the construction of the West Mira, a sixth generation ultra-deepw
The U.S. offshore rig count climbed up to 20 units last week, according to weekly rig count reports by the oilfield services provider Baker Hughes. BHI Rig Count: U.S. +12 to 768 rigs U.S. Rig Count is up 12 rigs from last week to 768, with oil rigs up 8 to 617, gas rigs up […]
Drilling contractor Paragon Offshore posted a deeper net loss for the fourth quarter 2016 compared to the prior-year fourth quarter due to jack-up rig impairments. The driller on Friday reported fourth quarter 2016 net loss of $244.4 million, as compared to fourth quarter 2015 net loss of $23.3 mill
Norwegian oil company Statoil has completed the drilling of wildcat well 6507/3-12 and appraisal well 6507/3-12 A, offshore Norway. The wells proved gas. The wells were drilled about six kilometers east of the Alve field in the northern part of the Norwegian Sea and about 200 kilometers west of Sand
While delivery dates for the 107 jackups under construction get pushed back toward 2020, the path to achieving deliveries couldn’t be more obstructive. By David Carter Shinn Last week, COSCO Shipyard announced that it “sees no notable upturn in the global market any time soon” and will close three
Oil company Ophir Energy is planning to spud an exploration well off Ivory Coast in May with the Seadrill-owned drillship West Saturn. Ophir entered the country in 2016 by signing a production sharing contract with African Petroleum for Block CI-513. The agreement entailed drilling an exploration we
Offshore driller Vantage Drilling posted a net loss for the last quarter of 2016 amid low jack-up and deepwater rig utilization. The driller, with a fleet of three drillships and four jack-up drilling rigs, on Thursday reported a net loss of approximately $41.1 million for the three months ended Dec
Interim judicial managers of Singapore’s Swissco, a debt-burdened provider of offshore rigs and vessels, have confirmed it is in negotiations with its compatriot Ezion Holdings for the sale of four jointly-owned rigs. The managers of Swissco issued a clarification on Wednesday regarding an article p
UK-based offshore drilling contractor Awilco Drilling has resolved its dispute with Apache North Sea over standby revenue billing for the drilling rig WilPhoenix. WilPhoenix is one of Awilco Drilling’s two enhanced pacesetter semi-submersibles. The 1982-built rig is equipped for drilling in water de
Statoil has received consent from Norway’s offshore safety body, the Petroleum Safety Authority (PSA), to use the Songa Enabler rig for drilling a production well at its Snøhvit field in the Barents Sea. Snøhvit is a Statoil-operated gas field in the Barents Sea northwest of Hammerfest. The field wa
The international offshore rig count for February 2017 was down both sequentially and year over year, which is the third time in a row, according to Baker Hughes’ monthly rig count reports. The report by the oilfield services provider shows that the international offshore rig count for February 2017
Following drilling, logging, drill stem testing, the setting of pressure gauges, and completion of operations, Cairn Energy has informed that the results of the SNE-5 appraisal well offshore Senegal are “in line with expectations.” Cairn, as the operator, started drilling the SNE-5 appraisal in Janu
