Pacific Drilling, a Luxembourg-headquartered offshore drilling contractor, reported a net loss of $2.5 million in the first quarter of 2016, down from a net profit of $51.7 million in the corresponding period of 2015. Contract revenue for first-quarter 2016 was $205.4 million, which included $12.7 m
Offshore drilling contractor Atwood Oceanics has sold one of its semi-submersible rigs for recycling and decided to idle another deepwater semi-sub in May. According to the company’s latest fleet status report, the semi-submersible drilling rig Atwood Eagle is scheduled to be idled in May and, accor
One of the world’s largest offshore drilling contractors, Transocean, returned to profit in the first quarter of the year as opposed to a loss in the corresponding period last year. The company’s revenues dropped due to reduced rig activity. Transocean reported net income attributable to controlling
Offshore drilling contractor Maersk Drilling delivered a 32% increase in profit that amounted $222 million for the first quarter 2016, compared to $168 million in the same period last year. The company also saw a boost in revenues during the quarter. The underlying profit was $223m, a 14% increase w
Offshore drilling contractor Rowan Companies saw a marginal decrease in net income and a 9% drop in revenues in the first quarter of 2016 when compared to the same period last year. Namely, the company on Wednesday reported net income of $122.8 million, compared to $123.7 million in the first quarte
Plexus Holdings has received its ninth purchase order since 2012 from Det norske oljeselskap to supply surface wellhead and mudline equipment services for the Langfjellet standard pressure exploration well on the Norwegian Continental Shelf. According to Plexus, an oil and gas engineering services b
The U.S. independent oil company Anadarko has hit net pay at its CI-103 block, offshore Ivory Coast. In its quarterly results presentation on Monday, the company revealed it struck approximately 100 net feet of vertical pay in the company’s first horizontal deepwater well at Paon-5A, offshore the We
Offshore driller Hercules Offshore, which in November last year emerged from Chapter 11 bankruptcy, has been given a deadline by Sembcorp Marine’s Jurong Shipyard in Singapore to take delivery and pay for the jack-up rig the shipyard is building for Hercules. The newbuild jack-up rig Hercules Highla
Singapore’s offshore rig builder Keppel Offshore & Marine has completed the acquisition of Cameron International Corporation’s offshore product division, which comprises the LeTourneau jack-up rig designs, rig kit business, as well as its aftersales and aftermarket services. The acquired company wil
Petrofac, a UK-based service provider to the oil and gas production and processing industry, was awarded a Duty Holder contract from BP to support late life management of the Miller platform in the UK sector of the North Sea. The signed contract is for ‘life of asset’ with a four year ceiling after
UK company providing logistics to the energy sector Peterson has secured a long term logistics contract with North Sea oil and gas operator Taqa. The five year contract is for integrated supply base and logistics operations supporting Taqa’s offshore assets in the UK North Sea – Harding, Tern, Eider
Two Dutch firms Damen Shipyards Group and GustoMSC have teamed up and plan to produce a range of self-propelled and non-self-propelled jack-up platforms for the offshore industries – the DG JACK range. The collaboration deal was signed on Monday in Houston during the Offshore Technology Conference (
Offshore drilling contractor Diamond Offshore Drilling returned to profit in the first quarter of 2016, compared to a loss a year earlier. The company’s revenues on the other hand dropped in the first quarter of 2016. The drilling contractor posted a net income of $87 million in the first quarter of
Seven companies had employees aboard the helicopter which crashed at Turøy, off Bergen, Norway, on Friday. There were thirteen people in the aircraft, en route from Statoil’s Gullfaks B field to Bergen, and all of them are confirmed dead. According to a statement by Statoil, the 11 passengers aboard
