Drilling Barge News

 

ADNOC Drilling Marks Profit Rise Driven by Strong Oilfield Services

May 08, 2025

ADNOC Drilling, the subsidiary of Abu Dhabi's state oil giant, reported a 24% rise in first-quarter profit on Thursday, driven by strong growth in its oilfield services segment.ADNOC Drilling's net profit rose to $341 million in the quarter ended March…

OMV Petrom Signs Deal to Deliver Gas from Neptun Deep to Moldova

May 08, 2025

Oil and gas company OMV Petrom has signed the commercial contract with the Republic of Moldova for the delivery of gas from Neptun Deep field in the Black Sea.The signed contract provides for the supply of natural gas for three years to the virtual trading point (VTP) in Romania…

Dolphin Drilling’s Semi-Sub Rig Readies for P&A Ops at North Sea Field

May 07, 2025

Offshore drilling contractor Dolphin Drilling has moved its 1990-built semi-submersible rig to Caledonia field in the North Sea ahead of upcoming permanent plug and abandonment (P&A) operation.The rig, Paul B. Loyd Jr., has completed operations at Harbour Energy's Brodgar well…

Norway Set to Restart Frontier Oil and Gas Exploration Licensing

May 07, 2025

The Norwegian parliament on Tuesday ordered the Labour minority government to launch a new frontier areas oil and gas exploration licensing round, setting the stage for increased oil drilling.Norway became Europe's largest supplier of natural gas following Russia's invasion of Ukraine in 2022…

Exxon Consortium Produced 668,000 bpd in Guyanese Oil Last Week

May 06, 2025

A consortium led by Exxon Mobil that controls all oil and gas output in Guyana produced 668,000 barrels per day (bpd) of oil last week, the U.S. company's head for the South American country, Alistair Routledge, said during a conference on Tuesday…

Valaris Sells Jackup to BW Energy

May 05, 2025

Valaris has agreed to sell jack-up drilling rig VALARIS 247 to BW Energy for cash proceeds of approximately $108 million.The sale is expected to close in the second half of 2025, subject to customary closing conditions. As part of the sales agreement…

US Gulf Oil Output Could Reach 2.4 million Bpd Despite Geopolitical Instability

May 05, 2025

The U.S. Gulf of Mexico can continue growing oil output even amid geopolitical volatility not seen in decades, oil and gas industry leaders said on Monday.U.S. President Donald Trump's global tariff announcements have since last month contributed…

Valaris Lines Up Five-Well Drilling Job off West Africa for High-Spec Drillship

May 05, 2025

Offshore drilling contractor Valaris has secured a $135 million contract for its Valaris DS-15 drillship, which will be put to work offshore West Africa.The five-well contract with an undisclosed client is expected to start in the third quarter 2026…

ADNOC Drilling Nets $806M for Three New Island Rigs for Zakum Offshore Field

May 05, 2025

ADNOC Drilling has been awarded a contract for three island rigs by ADNOC Offshore, valued approximately $806 million, to support expanding operations at the offshore Zakum development project.The three rigs are in addition to three ordered in July 2024…

BW Energy Takes FID for Maromba Field Offshore Brazil

May 05, 2025

BW Energy has made a final investment decision (FID) for the Maromba development offshore Brazil, which will feature an integrated drilling and wellhead platform (WHP) and a refurbished floating production, storage and offloading (FPSO) unit…

Rig Retirements Set to Rise as Utilization Falls to Lowest Level Since 2021

May 04, 2025

The offshore rig market recovery appears to have taken a pause, with demand tapering off and marketed utilization hitting the lowest levels recorded since recovery began in 2021. A variety of factors have contributed to this – including Saudi…

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

May 02, 2025

Noble Corporation’s recent decision to sell the Pacific Meltem and Pacific Scirocco for non-drilling purposes highlights a key issue in the drillship market: What happens to cold-stacked rigs that are unlikely to return to work? With the floater…

Archer Inks Five-Year Deal with Repsol for Drilling Services

May 02, 2025

Oilfield services firm Archer has signed a five-year contract with Repsol Resources UK for platform drilling services, facilities engineering, coil tubing, wireline services, and downhole well service technologies.The agreement also includes a two-year optional extension…

Subsea Micropiles Installs Micropile Anchor off Scotland

May 01, 2025

Micropiling technology specialist Subsea Micropiles has installed its micropile anchor solution for Orkney Harbour Authority (OHA) in Scotland, adapted to both floating and bottom-fixed offshore wind.Following a period of intensive development with over $13 million invested in R&D…

Valaris Lifts Contract Backlog for its Drilling Rigs to $4.2B

May 01, 2025

Offshore drilling company Valaris has secured over $1 billion of new contracts and extension for its drilling rigs since its previous fleet status report published mid-February 2025.Valaris’ contract backlog, excluding lump sum payments such as mobilization fees and capital reimbursements…

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