The offshore rig market has been flooded with newbuilds over the past 10 years. Now oversupply is killing utilization and dayrates.
ExxonMobil on Thursday reported positive results from its Payara-1 well offshore Guyana. Payara is ExxonMobil’s second oil discovery on the Stabroek Block and was drilled in a new reservoir. The company said that the Payara-1 well targeted similar aged reservoirs that were proven successful at the c
Faroe Petroleum is gearing up to start drilling an appraisal well on its Brasse oil and gas discovery in the Norwegian part of the North Sea. In an update on Thursday, Faroe said it would drill the appraisal well on the Brasse discovery in mid-2017. Faroe as the operator has entered into a contract
Norway’s offshore safety agency, the Petroleum Safety Authority (PSA), has confirmed that last week’s fire incident on board the Deepsea Atlantic rig is under investigation. The rig is under a contract with the Norwegian oil company Statoil on the Johan Sverdrup field, offshore Norway. The incident
A fire broke out on the Deepsea Atlantic drilling rig working for Statoil at the Johan Sverdrup field, off Norway. According to a report by the Norwegian news website Offshore.no, the fire broke out last Wednesday in the rig’s drill tower. After it was extinguished, it broke out again. The situation
The international offshore rig count for December 2016 was down both sequentially and year over year. According to reports on Monday by the oilfield services provider Baker Hughes, the international offshore rig count for December 2016 was 210, down 1 from the 211 counted in November 2016, and down
Drilling contractor North Atlantic Drilling Ltd. (NADL) has once again postponed the delivery of a newbuild drilling unit West Rigel ordered at Sembcorp Marine’s Jurong Shipyard. In addition to several previous delays, the latest one being announced in October 2016, NADL on Monday announced a stands
The first U.S. weekly rig count of 2017 has shown a rise in both offshore and onshore drilling rigs, compared to the last week of 2016. Canadian rigs are on the rise too. BHI Rig Count: U.S. +7 to 665 U.S. Rig Count is up 7 rigs from last week to 665, with […]
After it recently announced a deal to take the Pacific Bora drillship for its Guinea drilling, oil company Hyperdynamics on Friday said there has been a change of plan – or rather, a change of drillship. Namely, the oil firm said it has accepted a proposal from its drilling contractor, Pacific Drill
Chinese offshore rig builder Cosco has agreed with an Asian client to delay the delivery of a newbuild rig by a year. Cosco’s Dalian shipyard secured a contract valued over $180 million from an unnamed Asian company to build a jack-up drilling rig in October 2013. The rig was initially scheduled for
Danish offshore driller Maersk Drilling has taken delivery of its fourth XLE jack-up rig, the Maersk Invincible, from Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea. The company’s fourth and final XL Enhanced ultra harsh environment jack-up was named in South Korea in October 2016.
The U.S. Coast Guard is responding to a report of a fire on an oil production platform near Grand Isle, Louisiana, Thursday. According to the statement on Thursday, watchstanders at Coast Guard Sector New Orleans were notified at approximately 2:30 a.m. local time that an oil production platform cau
Oil and gas engineering services business Plexus Holdings has received an order for a second well offshore Oman from Masirah Oil. Masirah is a company majority owned by a technology-driven oil and gas company, REX International. Plexus said on Thursday that the new contract would see the company sup
Malaysia’s UMW Oil & Gas has received a conditional letter of award from the Malaysian energy giant Petronas for jack-up drilling rig services. UMW said in a Bursa Malaysia filing on Wednesday that the contract is for the provision of drilling rig services using the Naga 7 jack-up rig for a duration
