Deepwater drilling company Transocean reported a second-quarter net loss of $487 million, mostly on impairment of assets. The adjusted net loss was $1 million, an improvement from an adjusted loss of $187 million in the previous quarter.Total contract drilling revenues were $930 million…
Offshore drilling company Transocean expects its two ultra-deepwater drillships under construction in Singapore to cost it $2,25 billion in total, more than a double on the original order price.Transocean first ordered the drillships - now named…
U.S. oil company LLOG has chartered a Transocean drilling rig for the drilling of wells at the Shenandoah project in the Gulf of Mexico.The news was announced on Thursday by Navitas, LLOG's partner in the project (PDF in Hebrew), who said the contract was for four development wells…
UK-focused oil and gas company Hurricane Energy has terminated the contract for Transocean's Paul B. Loyd Jr. semi-submersible drilling rig.In its fleet status report issued on Wednesday, Transocean said that Hurricane Energy had terminated…
Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
US-based LLOG has ordered subsea trees designed for pressures up to 20,000 pounds per square inch (psi) for its deepwater Shenandoah development in the US Gulf of Mexico.The subsea trees, ordered from TechnipFMC on Tuesday, mark the first material…
Cobalt International Energy has opened a data room for its deepwater US Gulf of Mexico North Platte field as it announced the latest appraisal well drilling results on the field. Cobalt, which says the field, with an estimated 500-800 MMbbl resource range…
Anadarko has hit wet Wilcox sands at its Shenandoah prospect in the Gulf of Mexico, according to partner Cobalt International. Ocean Blackhawk. Image from Diamond Offshore. The…
Prospects are looking up in the US Gulf of Mexico as operators make final investment decisions. EIC’s Jake Gillian outlines activity in the area. The US Gulf of Mexico (GoM) has seen somewhat…
Even though the downturn has changed many operator’s initial plans, subsea tiebacks have emerged as the economical way to develop many Gulf of Mexico fields. Karen Boman reports. The North Ocean 105 lay vessel…
The oil and gas industry is known for being cyclical, however, the current reality of a “lower for longer” oil price has made sanctioning large offshore projects financially unviable, Douglas-Westwood (DW) said. Many oil majors have opted to focus on subsea well tiebacks…
Anadarko Petroleum posted a net loss of US$830 million in Q3 2016, as the US independent moves forward with its deal with Freeport McMoRan (FCX) and shifts its focus to oil with the deepwater Gulf of Mexico on its priority list. Walker…
Gulf of Mexico-focused Deepwater oil exploration and production company Venari Resources has acquired an additional 7% stake in the Shenandoah field on Walker Ridge Blocks 51, 52 and 53. The company has also reported successful results from the Shenandoah #5 appraisal well…
Cobalt International Energy is setting Angola as its number one priority, as the Houston-based company disclosed a multimillion-dollar loss in Q2 2016 due to a dry well in the Gulf of Mexico. The Rowan Reliance drillship…
Frank's International deployed its patented 1250-tonne Buoyancy Module (BM) Spider along with ExPert Landing String Solutions’ (ExPert) Drill Pipe Buoyancy Modules to help Anadarko achieve a nearly 250,000-pound reduction in total weight…
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