Valaris, the world’s largest offshore drilling firm, has filed for Chapter 11 bankruptcy with a plan it said would reduce its debt by $6.5billion.
Drilling firm Valaris has informed staff it could make hundreds of redundancies as rig contracts have dried up due to the recent slump in oil prices.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
Valaris has sunk into the red as it seeks to sell off an ageing semi-submersible drilling rig.
The boss of Premier Oil has said he is "delighted" with a commercial discovery at the firm's Tolmount East well in the Southern North Sea.
Valaris has said it has made “significant progress” since the merger of Ensco and Rowan earlier this year.
Dundee-based engineering group Texo will hold a jobs fair today as it seeks to rapidly expand its city workforce.
EnscoRowan has announced a widening in pre-tax losses for the first quarter of 2019.
The North Sea market has been told it needs a “ruthless” scrapping of older offshore vessels to avoid an oversupply.
UK-based Ensco has completed its merger with smaller rival Rowan to create the world’s largest offshore drilling firm by fleet size.
Offshore is ready for the limelight again.
Rig operator Rowan fell to a loss in its full-year 2018 results ahead of its merger with UK-based Ensco.
Shareholders of Rowan and Ensco have approved the merger between the two drilling contractors.
Rig contractor Ensco has revealed that three "independent advisory firms" urged its shareholders vote for the merger with rival firm Rowan.
Rig contractor Ensco has reduced its ownership stake in its takeover offer for rival firm Rowan.
The wheels of recovery are undoubtedly in motion for the global offshore rigs market, analyst said today.
Partners in the Wick prospect in the Moray Firth said today that the exploration well was a failure.
Rig contractor Ensco has increased its takeover offer for rival firm Rowan.
Premier Oil has booked the Ensco 123 rig to drilling two wells in the North Sea, starting in July.
North-east energy services firm Texo Group has clinched a contract worth at least £1 million to upgrade a jack-up rig.
Ensco’s takeover of rival Rowan shows consolidation is still “paramount” for drillers and that smaller firms are being driven out, according to leading analysts.
UK-based offshore driller Ensco has entered an agreement to buy smaller rival Rowan to create an “industry-leading” drilling firm.
Corallian Energy has booked the Ensco-72 jack-up drilling rig for its Wick and Colter wells.
Scottish oil firm Cairn Energy announced today that its North Sea Ekland well is due to spud next week as it looks to put the Ensco 101 rig in position.
Ensco confirmed plans to shed close to 80 jobs after its $850million takeover of Atwood Oceanics.