Hercules Offshore, a U.S.-based drilling contractor, has reported a net loss of $154 million for the fourth quarter 2014. The company’s 4Q 2013 loss was $101 million. Fourth quarter 2014 results included a pre-tax non-cash impairment charge of $117.0 million, as the company cold stacked five rigs, t
Singapore’s Sembcorp Marine, a company building offshore drilling rigs has reported a drop in its quarterly revenue. The company’s revenue in the fourth quarter of $1.4 billion was 15% lower when compared with $1.7 billion for the same period in 2013. Net profit in 4Q 2014 declined 5% year-on-year t
West Rigel, a harsh-environment semi-submersible drilling rig, currently under construction in Singapore, will feature two Dutch-designed boom hoist cranes. According to Kenz Cranes, a Dutch company specializing in offshore lifting and hoisting solutions, the two EHC 100/4000 cranes were designed in
VAALCO Energy has announced first production from Etame 10-H, the second development well drilled from the newly installed Etame platform, offshore Gabon. The horizontal development well was drilled to a Measured Depth (MD) of 3,144 meters while intersecting over 180m of high quality reservoir withi
Following several artistic impressions of the Bollsta Dolphin semi-submersble drilling rig, Fred. Olsen Energy, the owner, has finally revealed a photo of the rig. The harsh environment ultra-deepwater semi-submersible is currently under construction at the Hyundai Heavy Industries yard in South Kor
Technip has delivered a 23,000-ton truss spar hull to Anadarko Petroleum Corporation for its Heidelberg field development. According to Technip, the hull will soon head to the Heidelberg field located on Green Canyon blocks, offshore USA in the Gulf of Mexico. The water depth at the site is 1,620 me
Hibiscus Petroleum’s wholly-owned entity, Carnarvon Hibiscus Pty Ltd (CHPL), has progressed the plan to start the drilling operations of an exploration well located in VIC/P57 offshore Australia in June 2015. CHPL had, in October 2014, signed a rig share agreement with Origin Energy Resources, where
Dana Petroleum has completed the drilling of the Lille John-2 appraisal well and side-track on the Lille John oil field in licence 12/06 in the Danish North Sea. According to the company, the Lille John-2 (LJ-2) appraisal well and side-track confirmed the presence of sweet, light oil in the Late Mio
Following media reports that Singapore’s offshore rig builders Keppel and Sembcorp Marine have been involved in a bribery scandal with Petrobras in Brazil, both companies have issued separate statements denying the allegations. According to Brazilian newspaper O Globo, Keppel and Jurong (a subsidiar
Statoil and its licence partners have chosen an unmanned wellhead platform as the concept for the Oseberg Future development phase I project in the Norwegian part of the North Sea. The platform will be controlled from the Oseberg field centre. The investment decision is expected next winter. Three v
Prosafe, the world’s largest owner of offshore accommodation rigs, known as flotels, has today reported its net profit for the fourth quarter of 2014 was $51 million. The profit was lower when compared to $59.7 million earned in the same period of 2013. Explaining the drop in profit, the company has
Operator Statoil has together with PL035 partners completed a two-well programme in the Krafla area in the North Sea. Since 2011 significant new recoverable resources have been proven in the area, Statoil said in the press release. According to the Norwegian Petroleum Directorate (NPD), the 30/11-8
Diamond Offshore Drilling, a Houston-headquartered drilling contractor, today reported its fourth quarter 2014 net income of $99 million, compared to net income of $93 million, or $0.67 per diluted share, in the fourth quarter of 2013. Revenues in the fourth quarter of 2014 were $675 million, compar
Baker Hughes on Friday issued it weekly rig count for U.S. and Canada.
