Dana Petroleum and its partners failed to make an oil discovery at the Manatee-1 exploration well, offshore Cameroon, according to partner SDX Energy. The well, located in the shallow waters in the prolific Niger Delta basin, was spud on 2 March using the Paragon M825 jackup rig…
Semco Maritime has been awarded a contract by Paragon Offshore for intermediate classification and service works on the Paragon MSS1 semisubmersible drilling rig. The service works will be performed at Semco Maritime’s rig facilities at Invergordon…
Dana Petroleum commenced drilling operations at the Manatee-1 exploration well on the Bakassi West block, offshore Cameroon, according to partner SDX Energy. Map of Bakassi West block, from SDX…
Orca Exploration Group has successfully completed its offshore workover and drilling program, of the Songo Songo main field development, offshore Tanzania. The workover and drilling program at Songo Songo included workovers on three existing wells (SS-5…
Paragon Offshore is planning to file for bankruptcy this week in a deal that will eliminate more than US$1.1 billion of debt and reduce annual cash interest payments by nearly $60 million. Image from Paragon…
Paragon Offshore has elected to defer an interest payment of approximately US$15.4 million due on 15 January 2016 on its 6.75% senior unsecured notes maturing July 2022. Under the terms of the indenture governing the 2022 notes, the…
Audrey Leon spoke with DNV GL’s Michiel van der Geest about its new joint industry project regarding wear acceptance criteria for jacking systems. Currently 13 companies have signed on to the project, which aims to provide criteria for better assessing self-elevating units…
Centrica Energy has started drilling a new well from the York gas field in the southern North Sea, offshore England, after nearly £80million of investment. The new well, the fourth at York, will tap an additional 20 Bcf of gas and extend the life of the field out to 2020…
Paragon Offshore announced that certain wholly-owned subsidiaries of the company, which were part of the company's acquisition of Prospector Offshore Drilling have closed the combined US$300 million sale-leaseback financing facility that was announced on 4 June 2015…
Houston-based Paragon Offshore entered into a US$300 million sale-leaseback agreement with SinoEnergy for two heavy-duty harsh environment jackup rigs. Propsector 1. From Paragon. According to the terms of the agreement…
Paragon Offshore announced that Alejandra Veltmann has joined the company as vice president and chief accounting officer reporting to Steven A. Manz, Paragon's senior vice president and CFO. Veltmann will be responsible for overseeing corporate accounting and financial reporting…
Mexican operator Pemex has reassigned Pemex Exploration and Production (PEP) Director General Gustavo Hernandez and replaced him with chief of staff Juan Javier Hinojosa Puebla, several news wires report. Bloomberg said that Hernandez…
Among the notable industry milestones in 2014, organizations commemorated significant anniversaries and acknowledged not just survival, but growth. Sesquicentennial! – 2014 is the 150th anniversary of the Foundation Det Norske Veritas…
Houston-based Paragon Offshore has launched a bid to take over Prospector Offshore Drilling by buying 55.8% of the Oslo stock market-listed drilling firm's stock. Paragon, which spun out of Noble Corporation in August this year, said…
Centrica Energy discovered gas at the Pegasus West discovery in the southern North Sea. Image of the Paragon 391 jackup at Pegasus. From Centrica. The Pegasus area is 150km east of Teesside…