NSTA opens investigation into North Sea well decommissioning delays
Oil and gas operators will risk facing fines if they continue to miss well decommissioning deadlines, the North Sea Transition Authority (NSTA) has warned.
offshore rigs
Noble grabs ‘first mover advantage’ with Diamond Offshore acquisition
Noble Corporation (NYSE:NE) has grabbed "first mover advantage" in an offshore rig market set for further consolidation, according to analyst firm Wood Mackenzie.
Global offshore rig market could reach 96% utilisation in 2024
Westwood expects offshore rig dayrates to continue their upward trajectory across the board in 2024 as supply tightens.
Offshore rig day rates heading for highest level in ‘almost a decade’
The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
Demand for offshore rigs predicted to rise in coming years – Bassoe
The demand for offshore rigs is expected to grow in the coming years, despite scores of assets currently sitting idle.
Offshore rigs lose $30billion in value over 12 months – Bassoe
Drilling rigs have taken a $30billion (£22.5bn) hit to their values over the last 12 months, according to Bassoe Offshore.
Borr Drilling sells third rig in a month in $4.5million deal
Borr Drilling has announced the sale of its third rig in a month as the firm seeks to consolidate its fleet size.
Use of offshore rigs sees ‘largest monthly drop for 20 years’ – Rystad
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Offshore rigs need scrapped to end industry’s ‘bankruptcy nightmare’ – Bassoe
Scrapping of offshore oil rigs needs to be significantly ramped up in order to end the “bankruptcy nightmare” of their owners, according to Bassoe Offshore.
Seadrill reports further losses as nearly half of rigs stay idle
Rig operator Seadrill increased its losses for the start of 2019 amid lower utilisation of its fleet.