Legal News


EnscoRowan Changes its Name to Valaris

Jul 03, 2019

UK-based offshore drilling contractor EnscoRowan announced that it will change its name to Valaris, effective July 31, 2019.The London-headquartered firm said in a stock exchange announcement that its ordinary shares will trade under the new ticker symbol VAL following its name change…

Cyprus Takes Legal Action Against Offshore Drillers

Jul 02, 2019

Cyprus has initiated legal proceedings against three companies involved in gas drilling by Turkey to the west of the island for encroaching on the island's continental shelf, a senior foreign ministry official said on Tuesday.Officials declined to name the companies…

Weatherford Files Bankruptcy Plan

Jul 01, 2019

Oilfield services firm Weatherford International on Friday filed a prepackaged restructuring plan with the U.S. Securities and Exchange Commission, according to a regulatory filing.The company, which has struggled under a heavy debt burden and years of losses…

US Extends Offshore Wind Tax Credit

Jul 01, 2019

The American Wind Energy Association (AWEA) issued a statement in support of two bills introduced in the U.S. Senate this week, which would both extend the federal Investment Tax Credit (ITC) for offshore wind energy.The legislation comes at a critical time for offshore wind in America…

EnVen Co-founder Exits, Sues Company

Jun 26, 2019

An EnVen Energy Corp co-founder claims the chief executive of the offshore oil and gas producer provided misleading production and financial data to the board and forced him out as president, according to a lawsuit in a Texas court.David Dunwoody…

TechnipFMC Resolves US and Brazil Probes

Jun 26, 2019

Oil services company TechnipFMC said it would pay $301.3 million to resolve anti-corruption probes with Brazilian and U.S. authorities, and added it was committed to resolving another probe on its affairs with French authorities.TechnipFMC said…

DOF Subsea Desperately Seeking Funds

Jun 26, 2019

Norwegian offshore support vessel owner DOF Subsea is seeking a revision of debt terms with creditors as it struggles to achieve a refinancing solution.The cash-strapped subsidiary of Oslo-listed DOF Group has launched a bid to align bond and loan covenants as its refinancing continues…

Senegal President's Brother Resigns After Energy Fraud Claims

Jun 25, 2019

The brother of Senegal's President Macky Sall has resigned from his government post after allegations of fraud relating to natural gas contracts, he said on Monday.An investigation by the British Broadcasting Corporation (BBC) this month alleged…

Petrobras Pays $700 Mln to Vantage Drilling

Jun 24, 2019

Brazilian state-controlled oil company Petróleo Brasileiro SA said on Friday it had made a $700 million payment to oil services provider Vantage Drilling Company in a case involving a contract that it had terminated.Petrobras, as the oil company is known…

Aqualis completes Braemar Acquisition

Jun 21, 2019

Offshore engineering consultant Aqualis has completed the acquisition of the London-based Braemar Shipping Services' offshore, adjusting and marine consultancy business Braemar Technical Services (BTS).The new company, called AqualisBraemar…

BP Rig Arrives On Site Despite Protests

Jun 19, 2019

A BP drilling rig reached its destination in the North Sea on Wednesday after 11 days of delays due to Greenpeace protests over climate change, the activist group said.The 40,000-metric-ton Paul Loyd JNR left Cromarty Firth, north of Inverness…

Bourbon BoD to Analyze Restructuring Proposals

Jun 19, 2019

Following the submission of financial restructuring proposals subject to conditions precedent, the Board of Directors of BOURBON Corporation reviewed today the two proposals which are considered relevant to the interests of the group, its employees…

Indonesians Seek $140 Mln Over Montara Spill

Jun 18, 2019

Indonesian seaweed farmers were set to seek more than A$200 million ($137 million) from Thailand's PTT Exploration and Production in a trial starting on Monday, to cover damage they say they suffered after Australia's worst oil spill.The class action represents more than 15…

EU Called to Act Over Turkey Offshore Drilling

Jun 18, 2019

Cyprus and Greece heaped pressure on the EU on Tuesday to take action against Turkey over gas drilling in disputed waters, as Ankara said it would step up exploration in a move that could further strain ties with Western allies.Turkey and Cyprus…

BP Rig Zigzags in Chase with Greenpeace Ship

Jun 17, 2019

A BP drilling rig heading to an oilfield in the British North Sea has been forced to turn away twice over the past two days as a Greenpeace vessel protesting climate change tries to hamper its progress.The high-sea chase is the latest step in Greenpeace's nine-day effort to stop the 40…

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