Ocean Rig UDW, a global provider of offshore deepwater drilling services, announced on Tuesday that one of its drilling contracts has been terminated. Specifically, on February 11, 2016, Total E&P Congo gave notification to terminate for convenience the long-term contract of the 7th generation ultra
Offshore drilling company Pacific Drilling has received a warning from the New York Stock Exchange, according to which the company’s shares do not satisfy a minimum share price, and are subject to delisting if the situation is not rectified. “On January 13, 2016, Pacific Drilling S.A. received notic
Transocean, one of the world’s largest offshore drilling contractors, is reportedly planning to cut at least 230 jobs in Norway. According to Stavanger Aftenblad, a Norwegian news website, Transocean previously axed 575 jobs and this latest round of job cuts was announced last week. The decision to
Nakilat-Keppel Offshore & Marine (N-KOM), the joint venture shipyard between Qatar’s Nakilat and Keppel Offshore & Marine (Keppel O&M), has delivered its first liftboat unit. The liftboat “Al Safliya” has been delivered to Qatari rig operator Gulf Drilling International (GDI), subsidiary of Gulf Int
Baker Hughes Incorporated on Friday posted Weekly Rig Count reports, according to which the U.S. offshore rigs have dropped down. BHI Rig Count: U.S. -30 to 514 rigs U.S. Rig Count is down 30 rigs from last week to 541, with oil rigs down 28 to 439, and gas rigs down 2 to 102. U.S. […]
Paragon Offshore, a jack-up rig operator that came into existence after spinning off from Noble Corporation, has reached an agreement with its creditors to restructure its balance sheet. The company, recently delisted from the New York Stock Exchange, said on Friday the restructuring is expected to
Blackstone, one of the world’s largest investment firms, has set up a fund to finance the troubled offshore drilling industry. According to a statement on Thursday, the new platform, named Clarion Offshore Partners, will provide strategic solutions to the offshore oil and gas drilling and services s
Offshore drilling contractor Transocean has been awarded several new contracts for its drilling rigs. In addition, the driller’s newbuild drillship started a contract with Shell. In the company’s latest fleet status report covering a period from October 2015 till February 2016, Transocean said that
Noble Corporation, a UK-based offshore driller has managed to extend a contract for one of its drilling rigs in January. In its fleet status report, Noble said Maersk Oil has decided to extend a contract for the Noble Sam Turner, a high-specification, harsh environment jack-up. However, the extensio
Premier Oil, an independent oil and gas company, has ended a contract it had with the offshore driller Ocean Rig for the Eirik Raude semi-sub. Namely, Premier Oil and Noble Energy entered into a contract with Ocean Rig UDW on June 3, 2014, for the provision of the Eirik Raude semi-submersible drilli
Hercules Offshore, Inc., a U.S. offshore driller is exploring its options, including a merger or a sale of the company. In a statement on Thursday, the company said it established a special comprised of all the independent members of the Board of Directors of the companyto consider and explore vario
Awilco Drilling, a UK based drilling contractor that owns two semi-submersible drilling rigs, has posted a net loss of $32.9 million for the fourth quarter of 2015 after an impairment charge of $30 million. As a comparison, Awilco made a profit of $38.9 million in the 4Q of 2014. In the fourth quart
Byron Energy, the operator of several blocks in the Gulf of Mexico, has mobilised Hercules Offshore’s drilling rig Hercules 205 to the SM-6 #2 well location in the U.S. Gulf of Mexico. The rig was recently released by its previous operator, Renaissance, and it will operate for Byron under a dayrate
Danish offshore drilling contractor Maersk Drilling reported a hike in profits both for the fourth quarter, and for the full year 2015. In 4Q 2015, the company’s profit was $181 million, up from $53 million a year ago. For the full year, Maersk Drilling made a profit of $751 million, up from $478 mi
