Offshore Rigs News - page 3

 

Borr Drilling Posts $109,6M 2Q Loss

Aug 28, 2020

Jack-up drilling rig contractor Borr Drilling on Friday reported a $109,6 million net loss for the second quarter of 2020, on revenues of $84 million.For comparison, Borr provided the 1Q 2020 figures, in which it posted a loss of $87 million…

Total Spuds Luiperd-1X Well Offshore South Africa

Aug 28, 2020

After striking a play-opening gas find offshore South Africa in 2019 with the Deepsea Stavanger drilling rig, the French oil and gas major Total has brought the same rig back to the country and has started drilling on another closely watched prospect - the Luiperd…

End of the Line for Deepsea Bergen Drilling Rig

Aug 27, 2020

Norwegian offshore drilling company Odfjell Drilling will recycle its oldest drilling rig the Deepsea Bergen, to focus on its modern, harsh-environment drilling rigs.In a quarterly update on Thursday, Odfjell said that the Deepsea Bergen rig…

NOC on Effect: Jackup Rig Demand at the Mercy of National Oil Companies' Playbook

Aug 26, 2020

Over the past four months we have been flooded by news of just how badly the offshore rig market has been hit during the double whammy of the Corona pandemic and oil price fallout. We witnessed what seemed like a never-ending wave of contract…

Floatel Sees No Improvement in Offshore Accommodation Market Before 2022

Aug 25, 2020

Cash strapped offshore accommodation provider Floatel expects a prolonged downturn in the offshore accommodation market, with no significant improvements expected before 2022.The company, which operates five semi-submersible accommodation rigs…

World's Largest Offshore Drilling Company Valaris Delisted from NYSE after Bankruptcy Filing

Aug 25, 2020

Valaris, the world's largest offshore drilling contractor by fleet size, said Tuesday that the New York Stock Exchange had decided to suspend its shares and delist them.The offshore drilling company has been hit hard by the blended effects of the global COVID-19 pandemic…

Seadrill Shareholders Could be Left with Nothing

Aug 25, 2020

Offshore drilling rig contractor Seadrill's ongoing attempt to restructure its massive debt could leave current shareholders with minimal or no ownership at all, the Oslo-listed company said on Tuesday.Demand for exploration and drilling has…

Equinor, ConocoPhillips Get Consents for Swisher, Slagugle Drilling

Aug 21, 2020

Oil and gas companies Equinor and ConocoPhillips on Friday received approvals for drilling of offshore wells in the North Sea, and the Norwegian Sea, respectively.Equinor has been given a regulatory approval from the oil and gas safety body…

Maersk Integrator Jack-Up to Drill Another Well for Aker BP in 2021

Aug 20, 2020

Danish drilling company Maersk Drilling has won more work for its low-emission, harsh-environment jack-up drilling rig Maersk Integrator.The Norwegian oil company Aker BP has awarded the rig an additional one-well contract, to drill the Ula F – Producer 1 well at the Ula field…

Valaris Files for Bankruptcy

Aug 20, 2020

Valaris, the world's largest offshore drilling contractor by fleet size, filed for bankruptcy on Wednesday, in a move to restructure its debt load and reduce debt by more than $6.5 billion.The company has been hit by the combined effects of the global COVID-19 pandemic…

Chrysaor Hires COSL Offshore Rig for Wells in Norway

Aug 19, 2020

Offshore drilling contractor COSL has signed a drilling rig contract with oil company Chrysaor, following a letter of intent signed more than a month ago.The contract is for the COSLInnovator semi-submersible drilling rig to be used for drilling of two wells in Norway next year…

Cyprus: EU 'Appeasement' of Turkey in Exploration Dispute will Go Nowhere

Aug 17, 2020

Cyprus on Monday criticized European Union partners over what it said was diffidence amounting to 'a policy of appeasement' in dealing with Turkey, locked in a stand-off with Cyprus and Greece over energy exploration in the eastern Mediterranean…

Beach Energy, Diamond Offshore Settle Dispute over Ocean Onyx Rig Deal. Sign New Contract

Aug 17, 2020

Australian oil company Beach Energy has signed a new contract with drilling company Diamond Offshore for the use of the Ocean Onyx semi-submersible drilling rig.The news comes after Beach in April terminated the previously signed contract for the rig…

Qatar: Al-Shaheen Field Operator Extends Contracts for JDC Drilling Rig Duo

Aug 17, 2020

North Oil Company, a JV between Qatar Petroleum and Total, has awarded contract extensions for two jack-up rigs owned by Japan Drilling Company.JDC said Monday that the extensions - one year for each rig - have been secured for jack-up drilling…

EU Blasts Turkish Plan to Drill in Disputed Waters Off Cyprus

Aug 17, 2020

Turkey drew another rebuke from the European Union on Sunday when it said its Yavuz energy drillship would extend operations in disputed Mediterranean waters off Cyprus until mid-September.Yavuz will be accompanied by three other Turkish ships…

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