Esso Australia, ExxonMobil’s Australian subsidiary, has started drilling for the nearly $200 million Kipper 1B project, which will bring online much-needed additional gas supply from the Gippsland Basin.The project is using Valaris’ VALARIS…
Offshore drilling contractor Valaris has secured work for two of its drillships in the Gulf of America.Valaris has been awarded a 940-day contract extension for drillship VALARIS DS-16, starting in June 2026, and a new 914-day contract for drillship VALARIS DS-18…
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…
Jadestone Energy, an Asia-Pacific focused oil and gas company, has increased production rates expectations from the Montara field offshore Australia, as the drilling operation with Valaris’ Valaris 247 jack-up rig nears completion.The Skua-11ST well at the Montara field has reached target depth…
Offshore drilling company Valaris has decided to retire three semi-submersible drilling rigs from its fleet as part of its fleet rationalization efforts, which also included the sale of one jack-up rig for $24 million.The semi-submersible rigs to be retired from Valaris fleet are VALARIS DPS-5…
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…
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…
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…
U.K. oil and gas company Ithaca Energy has signed a sale and purchase agreement with Spirit Energy, increasing its stake for 46.25% in the Cygnus gas field for $154 million.The transaction, which is subject to NSTA consent, will increase Ithaca Energy's operated interest in Cygnus field to 85%…
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed 34 memoranda of understanding (MoUs) and agreements, with a potential total value of approximately $90 billion, with major U.S. companies.The MoUs and agreements…
Saudi Arabian state-owned oil giant Aramco has signed contract extension with ARO Drilling, its 50-50 joint venture with Valaris, for five jack-up drilling rigs.The contract, deemed as significant by ARO Drilling, marks a key milestone in the…
Valaris has been awarded a two-year contract offshore West Africa for drillship VALARIS DS-10 that is expected to commence late in the second quarter or in the third quarter 2026.The total contract value for the firm term is $352 million, excluding the provision of additional services…
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…
Jadestone Energy, an Asia-Pacific focused oil and gas company, has informed that Valaris’ Valaris 247 jack-up rig has arrived on location at the Montara field offshore Australia for an upcoming drilling operation.Valaris 247 will drill the Skua-11 well side-track at the field…
Shell has revealed ‘significantly better’ porosity and permeability properties at its Selene gas prospect in the North Sea, following the analysis of the data from the well drilled in 2024, prompting its partner Deltic Energy to raise estimates of recoverable gas reserves by 33%…
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