While the late 2018 oil price swoon has put a damper on an otherwise positive year for offshore energy markets, Transocean Ltd. (NYSE: RIG) ends the year on a positive, signing a construction management contract, as well as a five-year drilling contract with Chevron USA…
Switzerland-based offshore driller Transocean Ltd. announced Wednesday that it has completed the acquisition of Greek peer Ocean Rig UDW Inc.The $2.7 billion cash-and-stock deal adds nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles…
Transocean, international provider of offshore contract drilling services for oil and gas wells, has announced that its shareholders approved the acquisition of Ocean Rig UDW, by approving the proposals presented at Transocean’s Extraordinary General Meeting…
Rowan Companies plc announced Monday that its R-Class ultra-deepwater drillship Rowan Renaissance has been awarded a contract in Mexico by Total with a firm term of one well with an estimated duration of 60 days. The agreement includes three…
Transocean is taking a US$1.4 billion impairment in Q3 2017 following the drilling contractor’s decision to scrap five ultra deepwater floaters, and one deepwater rig. The Sedco Express ultra deepwater floater will be scrapped…
ABS granted Approval in Principle (AIP) to Frontier Deepwater Appraisal Solutions for an ultra deepwater Appraisal Production System (APS) that will provide critical production data for reserves located in ultra deepwater areas. Intended for deployment early in the appraisal process…
Over enthusiasm in the recent floating rig building cycle has led to an ultra deepwater “hangover” that will take several years of recovery, says Liz Tysall and Oddmund Føre, of Rystad Energy. Transocean…
McDermott International acquired the newly built pipelay and construction vessel Amazon designed for its ultra deepwater and SURF projects. Image of the Amazon, from McDermott. McDermott…
Drilling giant Transocean swung back into profit in Q1 2016, despite revenues having hemorrhaged compared to Q1 2015. Rig utilization was 51% in Q1, compared with 60% in the prior quarter, and 79% in the same period last year. Utilization is lowest in the ultra-deepwater floater segment…
This year, the deepwater drilling record could be broken not just once, but twice, breaking the last record, set back in 2013. Elaine Maslin takes a look. Total’s Raya-1 well is due to be drilled offshore Uruguay using Maersk Oil’s ultra…
Frigstad Kristiansand, the second ultra-deepwater semisubmersible drilling rig build by CIMC Raffles for Frigstad, completed mating in Yantai Shipyard, China, yesterday. As one of the deepest operating and drilling semisubmersible rigs…
Houston's Vantage Drilling has signed an agreement for a two-year extension of the ultra-deepwater drillship Tungsten Explorer contract. The contract, initially signed in 2013, and running from mid-2014 for two years, is now anticipated…
Drilling contractor Ocean Rig CEO George Economou has warned that a recovery for the oil and gas industry might not come until 2018, at the earliest. Economou's comments were made as the Greece-based firm announced its second rig cancellation in the space of days…
Transocean has chosen to delay the operating and delivery contracts for two newbuild ultra-deepwater drillships by 12 months, the company announced on 26 October. Transcocean, working with its customer, Shell, and the shipyard, Daewoo…
Norway's Odfjell Drilling and Metro Exploration have put the Deepsea Metro II ultra deepwater drillship up for sale. The two firms, which own the drillship through their shares in Deep Sea Metro, which owns Deepsea Metro II owner Chloe Marine Corp…
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