Offshore oil driller Valaris PLC is exploring debt restructuring options as it grapples with a rig accident and a broader collapse in energy prices, people familiar with the matter said on Friday.Valaris has tapped debt restructuring attorneys…
Britain's oil and gas sector needs government help to survive, industry body OGUK said after the oil price crash triggered by the coronavirus and a Saudi-Russian price war threatens its ability to continue producing hydrocarbons in the North Sea…
Offshore drilling contractor Dolphin Drilling has signed a drilling contract for one of its semi-submersible offshore drilling rigs in the UK North Sea with oil company i3 Energy.Bjørnar Iversen, CEO of Dolphin Drilling said the contract was…
Jack-up rig contractor Shelf Drilling has informed that the contract for its jack-up rig Shelf Drilling Tenacious would be cut short.The company on Thursday said it had entered into a mutual agreement with the customer to amend the contract…
More than 200 oilfield services companies might be forced to declare bankruptcy - most of them in Norway and the UK - due to the effects of the Covid-19 pandemic and its effect on oil prices.This is according to Norway-based energy intelligence firm Rystad Energy…
The recent collapse in oil prices could chop $300 million to $600 million off 2020 exploration budgets in Brazil, which has emerged as one of the world's hottest offshore oil plays, specialists at consultancy Wood Mackenzie told Reuters.Before…
MOL Norge, a subsidiary of Hungary's MOL, has discovered oil and gas in its production license 820s, at Evra and Iving prospect in the North Sea, offshore Norway.The company said Wednesday it was in the process of completing the drilling of exploration well 25/8-19 S and sidetrack 25/8-19 A…
Danish offshore drilling company Maersk Drilling has informed that a third-party worker aboard its offshore drilling rig at Total's Culzean field in the UK North Sea is exhibiting symptoms that may point to the COVID-19 coronavirus infection…
Offshore drilling company Seadrill was involved in an incident last weekend involving the unintentional disconnection of the lower marine riser package (LMRP) on its West Mira semi-submersible drilling rig. Also, a certain amount of oil-based drilling fluid was discharged into the sea…
U.S. oil company Hess Corporation has cut its capital and exploratory program in response to the sharp drop in oil prices, affecting both onshore and offshore drilling programs. The company said Tuesday it would reduce its capex to $2.2B from previously proposed $3 billion…
Oil and gas company Kosmos Energy is set to slash both capex and opex, and will suspend dividend payment citing the need to maintain balance sheet and preserve flexibility during the oil price volatility.'At the 4Q19 results, we guided to a…
Total has made a hydrocarbon discovery at the Isabella exploration well in the UK Central North Sea, Neptune Energy, Total's partner in the project has informed.Neptune Energy has described Isabella as 'an encouraging hydrocarbon discovery'…
Cairn Energy’s subsidiary Capricorn Norge has been given permission to drill a wildcat well in the North Sea offshore Norway. The Duncan exploration well (35/8-7S) will be drilled using the Island Innovator semi-submersible drilling rig. The well is located in the production license 880…
Offshore drilling company Noble Corporation has informed that Richard Barker will be appointed as Chief Financial Officer of the company.The new appointment comes following the current CFO Stephen M. Butz's decision to to step down as Executive…
Forewarned is forearmed, an adage that is particularly true when it comes to deepwater drilling. Offshore drillers are increasingly relying on existing and new downhole data technologies to make real-time decisions and keep operations safe.Multi…