Transocean to lay off more offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
drilling
Neptune Energy adopts new cloud based digital system for drilling and wells, aims to save $20m
Neptune Energy has announced plans to adopt new cloud based technologies in an effort to improve efficiency and significantly reduce non-productive time.
Odfjell Drilling awarded major contract for work on Breidablikk field
Equinor has awarded a $290 million (£223m) contract to Odfjell Drilling for work on the 200-million-barrel Breidablikk field in the Norwegian North Sea.
High costs and contradictions cloud Nigeria’s outlook
Companies working in Nigeria’s energy sector have called for a faster rate of change from the government.
KCA Deutag plans restructure to wipe out more than £1billion of debt
KCA Deutag is working on a restructuring deal with creditors to wipe off more than £1billion of debt.
Borr Drilling receives notice from New York Stock Exchange regarding continued listing standard
Borr Drilling has received a written notice from the New York Stock Exchange (NYSE) after it was found not to be in compliance with continued listing standards.
Borr Drilling appoints Patrick Schorn as new chief executive
Borr Drilling has appointed Patrick Schorn as its new chief executive officer, succeeding Svend Anton Maier who will remain with the company as a special adviser.
Driller Noble files for bankruptcy to erase huge debt pile
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Oil and gas drilling set for ‘staggering’ 20-year low – Rystad
Oil and gas drilling is on course for a "staggering" 20-year low, according to consultancy Rystad Energy.
Slim pickings for UK oil and gas drilling
Westwood Global Energy reports that as of May 27 there were no exploration and appraisal wells active in the UK. In light of the Covid-19 pandemic and oil price crash, there have been a large number of E&A wells deferred to 2021.
Archer cutting 12-15% of global workforce and pays millions for UK redundancies
Drilling contractor Archer is to cut between 12-15% of its global workforce of 5,000 as a result of the oil price crash and Covid-19 pandemic.
Wells deferred until 2021 after price crash due to coronavirus
Westwood Global Energy reports that as of April 28 there were no exploration and appraisal (E&A) wells active in the UK. In light of the Covid-19 pandemic and subsequent oil price crash, there has been a large number of E&A wells deferred from 2020 to 2021.
Valaris sets out plans to cut up to 332 jobs
Drilling firm Valaris has set out plans to cut up to 332 jobs across its offshore rig fleet as contracts are cancelled amid the Covid-19 pandemic.
At $30 oil, offshore drillers may be out of options
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds.
Aberdeenshire-based Paradigm Drilling appoints new managing director
Aberdeenshire-based Paradigm Drilling Services has appointed a new managing director to boost growth in the global oil and gas market.
Awilco challenges £7.7m tax bill from HMRC
Rig contractor Awilco Drilling said today that it had appealed against the UK taxman’s decision to slap it with a £7.7 million bill.
Conventional discoveries reach 70-year low and unlikely to recover, new report says
Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades, and aren't expected to recover, a new report said.
Aminex wins more farm out time in Tanzania
Aminex is becoming more positive on its delayed farm out in Tanzania, giving it sufficient confidence to get under way with preparations for the Chikumbi-1 well.
Vaalco sets out London IPO move
Vaalco Energy has set out formal plans to list on the London Stock Exchange’s main market. The listing should take place by September 30.
Most North Sea wells due to spud since 2010
Westwood Global Energy Group reports that as of June 30, one exploration well and three appraisal wells were in progress in the UK. Three wells were spudded and one well was completed in July.
EnscoRowan to change name to Valaris
The world’s largest offshore drilling firm EnscoRowan has announced plans to change its name to Valaris.
Analysts predict boost for offshore rig rates amid surge in activity
Offshore rig rates are due to surge within two years as activity accelerates, according to new data.
Power-hungry Texas oil drillers get a little help from solar
Texas, home to the world’s largest oil reserve and America’s biggest source of coal-fired power, is on the verge of a clean-energy boom.
Losses widen for KCA Deutag despite ‘robust’ North Sea work
Aberdeen-based KCA Deutag saw its losses widen by 68% in its full year accounts yesterday, despite a “robust” performance from its North Sea business.
Offshore drilling makes comeback after years in shale’s shadow
Offshore is ready for the limelight again.