Transocean, a Swiss-based offshore driller has reported its 4Q 2014 revenues were 2.23 billion, slightly less that $2.25 bilion achieved a year ago. The decrease was due primarily to increased idle time on several rigs partly offset by higher revenue efficiency, lower out-of-service days, and the st
Offshore drilling contractor Seadrill Limited has today reported a drop in its fourth quarter revenues. The company’s 4Q 2014 revenues were $1.26 billion, compared to $1.46 billion in the corresponding period of 2013. The company’s 4Q net income was $150 million, versus $281 million a year ago. The
Ocean Rig, an offshore drilling contractor, has reported its fourth quarter 2014 profit was $87 million, as compared to a net profit ot $39.7 million a year ago. Revenues from drilling contracts increased by $153.9 million to $499.4 million for the quarter, as compared to $345.5 million for the same
Awilco Drilling, a UK-based drilling contractor, has informed that Hess Limited has allowed its option on WilHunter rig to lapse. In March 2013, Hess extended the contract of 400 days to additional 550 days totalling in 950 days plus option for up to 275 days. According to this, the WilHunter is on
Total E&P Norge AS (TEPN) has received consent from the Petroleum Safety Authority (PSA) Norway for exploration drilling of wells 25/6-5 S and 25/6-5 A, located in the North Sea. TEPN is the operator for production licence 627 in block 25/6 in the central North Sea. TEPN is to drill wells 25/6-5 S a
Odfjell Drilling has said that it expects the drilling industry market to stay weak for the next couple of years. As a reason for this, the company has cited continued delivery of new drilling rigs and oil companies’ cuts in spending, leading to a growing number of stacked drilling rigs and continue
As of February, the global jack-up drilling rigs orderbook for 2015 had 67 rigs slated for delivery. Three jack-up rigs have been delivered so far, according to Clarksons, a provider of data and market intelligence for the global shipping and offshore oil and gas industries. This total is more than
Diamond Offshore, a Houston-based drilling contractor, might lose several rig contracts, as its customers are looking to cut costs in a depressed market stemming from low oil prices. In a SEC filing issued yesterday, the company has said that there is a chance that the contracts for its Ocean Barone
Statoil has received consent from the Petroleum Safety Authority (PSA) Norway to carry out exploration drilling of well 15/6-13 in the North Sea. Statoil is the operator for production licences 029B and 303 in block 15/6 in the central North Sea. According to the PSA, Statoil is to drill well 15/6-1
Odfjell Drilling has been awarded the drilling engineering sub-contract for the Johan Sverdrup drilling platform topside. Odfjell Drilling will be one of Aibel’s major sub-contractors for their engineering, procurement and construction (EPC) contract for the Drilling Platform Topside for Johan Sverd
Dragados Offshore México, S.A. has recently awarded IKM Testing Mexico, S. de RL de CV with two contracts. The first contract is for torquing services plus pneumatic and hydraulic testing and the other one is for chemical cleanings. The works will be carried out on the CB and CA Litoral A Platform i
Jumbo has completed the subsea installation of the replacement MEG riser for the Ikhwezi Project at the existing FA Platform, offshore South Africa. PetroSA awarded this fast track execution contract on December 5, 2014. According to Jumbo, with less than a month of engineering and preparation time,
UK subsea engineering firm FES International, a provider of fluid transfer systems, has won a $2 million contract to supply Bend Stiffener Connectors (BSCs) to oil and gas contractor Saipem. The BSCs will be used by Total, at its third deep offshore development off the coast of Nigeria, the Egina fi
Oil and Gas UK, an industry body representing offshore oil and gas companies in the UK, has revealed that exploration activity in the UK last year dropped to its lowest levels since 1965. Exploration activity deteriorated more than expected in 2014, with only 14 of the expected 25 wells actually dri
