‘Too many rigs carrying too much debt’ – Seadrill falls to £1.2bn loss and plans restructuring
Seadrill fell to a £1.2billion pre-tax loss at the start of the year off the back of heavy impairments for its rigs which are dropping in value.
Seadrill
Beijing triumphs in South China Sea oil spat
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
Tensions boil in South China Sea as Petronas drills
Tensions are rising in the resource-rich South China Sea following a recent standoff between Kuala Lumpur and Beijing over Malaysian oil and gas exploration.
QP kicks off drilling on North Field
Qatar Petroleum (QP) has begun development drilling on its North Field East (NFE) project, which will sustain its major LNG expansion plans.
Transformation on the cards for struggling offshore supply chain, Woodmac says
With margins staying “razor thin” and cost pressures continuing to bear down, the offshore supply chain may take on a “whole new look” this year, according to a Wood Mackenzie analyst.
Oil and gas industry works to increase awareness of human trafficking
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
Billionaire Fredriksen quits as chairman of struggling Seadrill
Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., the offshore-rig company he founded more than a decade ago and which is struggling with high debt amid a slow market recovery.
Sonangol rig arrested in Malaysia
Malaysian authorities have seized a drillship that was on its way to Angola.
Seadrill narrows losses, but floater reactivations on hold
Offshore rig contractor Seadrill narrowed its second quarter losses by delivering "solid operational performance", characterised by a utilisation rate of 96%.
Employment is shifting from shale to offshore, Rystad says
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
Seadrill’s West Gemini drillship booked for Africa wells
Seadrill has secured a nine-well contract with three options, each for two wells, for the West Gemini in West Africa. Total contract value for the firm portion of the contract is expected to be approximately $84 million with commencement expected in early Q4 2019 and running through Q4 2020.
Oil industry’s debt woes not over over, top bankers warn
Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold.
Seadrill’s debt in question as firm takes trading nosedive
Seadrill fell further in Oslo trading after Carnegie Investment Bank AB cut its target price by 88%, raising fresh concerns over the offshore driller’s debt.
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.
Greenpeace targets West Hercules oil rig in protest to Arctic drilling
Greenpeace has boarded an oil rig in Norway in protest to drilling plans in the Arctic.
‘Unnaceptably high’ number of rig evacuations lead to new Seadrill medical programme
Offshore drilling contractor Seadrill has said “unacceptably high” levels of medical evacuations from its rigs have led to the creation of a new medical programme.
Seadrill pulled up over blaze on rig
A faulty extension cord and fume cabinet led to a fire breaking out on a drilling rig offshore Norway in November.
Seadrill sees improvement in offshore rig market
Bosses at rig contractor Seadrill said the market continued to show signs of improvement as revenues picked up in the fourth quarter.
‘Well control incident’ on West Hercules rig leads to investigation
A "well control" incident on the West Hercules rig is being investigated by Norway's offshore safety watchdog.
Seadrill looking to revolutionise rig work, according to VP
Global offshore drilling firm Seadrill has introduced a numbers of measures to revolutionise rig work, according to the company's data chief.
Equinor hires West Hercules for Barents wells
Equinor has booked Seadrill's West Hercules rig for two wells in the Barents Sea in spring 2019.
Tullow Oil ordered to pay Seadrill $254m in fees
A judge has ordered Tullow Oil to pay fees amounting to $254 million to Seadrill over the termination of a contract.
Seadrill emerges from chapter 11 bankruptcy
Oil and gas industry contractor Seadrill has emerged from chapter 11 bankruptcy.
Oil firms ‘only scratching the surface’ of data potential, says Chrysaor director
A director of digital for Chrysaor has claimed that oil firms are "only scratching the surface" in terms of data potential on oil rigs.
Seadrill nears chapter 11 exit
Seadrill said today that its "reorganisation plan" had been approved by a US Bankruptcy Court.