Oilrose for the first time in three sessions after the number of active rigs fell in the U.S., potentially easing a supply glut. Futures advanced as much as 1.1 percent in New York, paring a 4.8 percent loss in the previous two sessions. Rigs targeting oil in the U.S. fell by 15 to 372, according to Baker Hughes Inc. More than 150 have been parked since the start of the year.
The number of rigs exploring for oil and gas in the US has dropped by 12 this week, according to the latest figures.
Semco Maritime has won a contract to perform repairs and service the Island Innovator rig.
Statoil’s Cat J jackup rig was specifically designed to leverage a maturing Norwegian Continental Shelf.
Total has cancelled a contract with Ocean rig, just days after Premier Oil ended an agreement for the Eirik Raude operating in the Falklands.
Sembcorp Marine Ltd., which posted its first loss in more than a decade in the fourth quarter, saw its shares jump by the most in nearly a month amid talk that the company could be taken private.
Sembcorp Marine has posted a loss of $536.9million for the fourth quarter of last year amid the decline in oil price.
Premier Oil and Noble Energy have issued a termination notice for the Eirik Raude rig.
Statoil has delayed new work for the Scarabeo 5 rig until May.
COSL has taken measures to ensure a rig which was damaged during freak waves is protected from future impact.
Baker Hughes said it expects the global rig count to decline by as much as 30% in 2016, as the slump in oil price continues.
Eni is reported to be planning to drill a wildcat at the Aurelia prospect in the Barents Sea off Norway later this year using the Scarabeo 8 semi-submersible rig.
Rowan Companies has won a contract with oil major BP for one of its jackup rigs to be used in Trinidad.
Singapore's Keppel Corporation said on Thursday its fourth-quarter net profit fell 44% and its 2015 profit dropped to a five-year low as plunging oil prices hit demand for offshore rigs.
China's Foreign Ministry has claimed a $1billion deepwater oil rig was not drilling in disputed territory in the South China Sea. It comes after a warning from Vietnam against such activity.
Noble said it expects to reduce its headcount for staff working on the Noble Danny Adkins drilling rig in the Gulf of Mexico.
Norwegian operator Statoil is looking to reactivate a suspended rig to carry out well plugging work in the North Sea. The Scarabeo 5 had previously been suspended by the company from October last year.
Baker Hughes has unveiled its latest rig count for the final month of 2015.
A rig which was battered by huge waves in the Norwegian North Sea leaving one worker dead and two injured had not been tested for the impact of a wave.
A man killed offshore after a freak wave hit a semi-submersible drilling rig in the Norwegian North Sea has been named. Rune Morten Narvag, 53, died last week after fierce weather across the North Sea caused by Storm Frank.
Karoon Gas Australia has struck an agreement with OGOG Constellation to contract the Olinda Star semi-submersible drilling rig. The Olinda Star will drill two firm wells and two optional wells in Karoon’s Santos Basin blocks.
This footage shows a huge waves hitting a North Sea platform during harsh weather.
An oil worker has been airlifted to hospital after an accident on a North Sea platform. The Coastguard 951 helicopter was called to the Prospector 1 platform, 150 miles east of Aberdeen around 6.55am today. The man was taken to Aberdeen Royal Infirmary (ARI) with a potentially life threatening injury after an accident on the rig yesterday.
Baker Hughes said its international rig count for the month of July was down by 264 from the same time last year. The figures also dropped by 28 from the previous month of June.
The Baker Hughes weekly rig count has shown further promising results from Canada. The rig estimate, which has been in force for more than 50 years, is used to show the count overall worldwide, as well as internationally and in the US and Canada.