Rowan Companies, a global provider of contract drilling services, on Friday posted net income of $124.4 million for the 4Q 2015, compared to $326.9 million loss in the prior-year quarter. For the prior-year quarter, the company reported a net loss of $326.9 million, which included a non-cash asset i
Songa Offshore, an international midwater drilling contractor, has returned to profit and doubled its revenues in the fourth quarter of 2015 when compared to the same period the year before. The drilling contractor came back from a loss of $51 million in the 4Q 2014 to a $34 million profit in the fo
Norwegian Petroleum Safety Authority (PSA) has granted consent to Wintershall to drill two exploration wells, in the North Sea, using the Borgland Dolphin drilling rig. The two wells, 35/8-6S and 35/8-6A, are located in Wintershall-operated production licence 248, offshore Norway. According to the s
Singapore’s SBI Offshore announced on Thursday that a consortium of six Middle East-Chinese parties have terminated a $24 million worth jack-up drilling rig design and engineering contract it had with SBI. SBI Offshore said that the consortium filed a termination request in view of the downturn in t
Soco International, an oil and gas exploration and production company, has found on hydrocarbons present in the Baobab Marine-1 (BABM-1) commitment well, offshore Congo. Soco started drilling the BABM-1 commitment well, in the Mer Profonde Sud Block located in the Lower Congo Basin, on February 5, 2
Ensco, a UK-based drilling contractor, has decided to scrap five of its jack-up drilling rigs and one drillship in order to reduce costs. The rigs set for scraping are jack-up drilling rigs Ensco 56, Ensco 81, Ensco 82, Ensco 86, and Ensco 99, and a 1999-built drillship Ensco DS-1. Ensco Chief Execu
Offshore deepwater drilling contractor Seadrill has seen a boost in its income during the fourth quarter of 2015, but a drop in revenues both year over year, and sequentially due to idle rigs. In the company’s fourth quarter 2015 results report on Thursday, Seadrill reported net income attributable
Norwegian oil giant Statoil has completed drilling of wildcat well 30/9-28 S, near the Oseberg field in the North Sea offshore Norway, that resulted in a minor gas discovery. Statoil is the operator of production licence 104 where the well is located. The well was drilled about 5.5 kilometres west o
Offshore drilling contractor Transocean has posted net income of $611 million for the fourth quarter of 2015 compared with a year-earlier loss of $739 million. Fourth quarter 2015 results included net unfavorable items of $4 million: $29 million related to loss on impairment of the GSF Grand Banks a
German oil and gas company Wintershall has failed to find hydrocarbons in its Kvalross exploration well located in the Barents Sea, offshore Norway. According to Faroe Petroleum, an independent oil and gas company and a partner in the project with 40% stake, the drilling has reached target depth on
Offshore drilling contractor Transocean has received a notice of early termination for one of its semi-submersible drilling rigs from ExxonMobil. The contract for Transocean’s ultra-deepwater drilling rig, GSF Development Driller I, was cancelled by ExxonMobil’s subsidiary in Angola, Esso Exploratio
Orca Exploration Group has announced the completion of its offshore workover and drilling program on the Songo Songo gas field development offshore Tanzania, and the release of the Paragon M826 drilling workover rig. The offshore program of the Songo Songo Main Field development program included wor
Vantage Drilling, an offshore drilling contractor with a fleet of three ultra-deepwater drillships, has signed an agreement for a two-year extension of the Tungsten Explorer contract. According to Vantage, the contract is now anticipated to keep the Tungsten Explorer working until October 2018. Howe
Baker Hughes Incorporated, an oil field services provider, on Friday posted Weekly Rig Count reports to its Investor Relations website according to which the U.S. offshore rig count has not changed. BHI Rig Count: U.S. -27 to 514 rigs U.S. Rig Count is down 27 rigs from last week to 514, with oil ri
