Offshore drilling contractor Transocean has secured contract extensions for two of its 2011-built drillships with Brazil's national oil company Petrobras.Transocean said Wednesday that Petrobras had exercised a 680-day option for the Deepwater Corcovado drillship…
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…
Just as we were beginning to see light at the end of the tunnel, COVID-19 in the space of three months decimated the offshore industry and sent it spiraling into a double downturn. Oil majors have been forced to cut CAPEX (table 1) with E&P spending reduced significantly…
Transocean, the world's largest offshore drilling contractor, said that its total contract drilling revenues were $792 million (total adjusted contract drilling revenues of $839 million), compared with $784 million in the third quarter of 2019…
Offshore drilling contractor Transocean announced on Monday that it will not take delivery of two newbuild drillships that were scheduled to be handed over from Korean builder Samsung Heavy Industries (SHI) in 2019 and 2020.Transocean said two of its indirect…
The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 16/1-31 A.The well will be drilled from the Leiv Eiriksson drilling facility, owned and operated by Ocean Rig.The drilling programme for well 16/1-31…
The development of the Mero field, part of the Libra pre-salt complex offshore Brazil, has opened a range of opportunities for equipment and services in the oil and gas sector in the South American country. A range of equipment from wet x-mas trees…
Offshore drilling contractor Transocean announced Monday that two of its ultra-deepwater drillships have been contracted by Petrobras for work offshore Brazil.The two drillships, Ocean Rig Corcovado and Ocean Rig Mykonos, are expected to commence…
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for a wildcat well in the North Sea.The NPD said on Tuesday that the wildcat well, designated 16/1-31 S, would be drilled from the Leiv Eiriksson drilling…
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…
Europe's independent oil and gas exploration and production company Lundin Norway will drill and test a new exploration well in the Barents Sea, following approval by the Norwegian Petroleum Safety Authority (PSA).'Lundin is the operator for production licence 767…
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
The Atlantic margins focused oil and gas exploration company Chariot Oil & Gas Limited has announced the result of the well on the Central Blocks license, offshore Namibia (Chariot 65% (Operator), Azinam 20%, NAMCOR 10% and Ignitus 5%).The well has been safely drilled to a total MD of 4…
Offshore rig owner Seadrill is prepared to make acquisitions if opportunities arise amid ongoing consolidation in the industry, the company's chief executive told Reuters.Competitor Transocean on Sept. 4 announced it was buying deepwater driller Ocean Rig for $2…