On news of the September ruling, Northern Drilling’s share price fell from 2.32 euro ($2.45) to 0.3 euro ($0.31). The company’s decision to appeal against the ruling triggered a further fall, to 0.13 euro ($0.14). It is down 94% on the month.
As a result of the acquisition, Transocean will own eight of the world’s ultra-deepwater drillships. The Deepwater Aquila can operate in water depths of up to 12,000 feet (3,657 metres).
Dolphin Drilling is contemplating a private share placing in order to finance the $60m deal.
The tie-up would see the pair look to convert two floating units into dedicated offshore wind installation vessels, amid a global dash for heavy lift capacity.
"I believe that Macondo transpired because we had to some degree forgotten the lessons of the past," writes Steven Harris on today's anniversary.
Equinor has booked contract extensions with two winterised Transocean drilling units worth up to $600m for a spate of work in the Norwegian Sea and Johan Castberg field.
Located dozens of miles out to sea, it would stand to reason that oil and gas assets are unlikely targets for protestors – for the sake of convenience if nothing else.
Transocean (NYSE: RIG) has unveiled a pair of UK North Sea contract wins as part of a clutch of global awards worth $488m.
Transocean ordered the two drillships in February 2014, agreeing to pay $540 million for each of the vessels. Sembcorp said it would deliver the rigs in 2017 and 2018.
Drillships are driving the recovery in the deepwater market, according to a leading rig analyst, with contractors moving to procure new or stranded units as day rates continue to rise.
More than 300 drilling workers have launched 48 hours of strike action across North Sea installations in a dispute over pay.
More than 300 offshore workers have voted for strikes across 20 North Sea installations, Unite the Union has announced, causing "major problems" for production.
An offshore worker of nearly 20 years has written a new book on the “highs and lows” of his career in the industry.
It could soon cost half a million dollars a day to hire an offshore rig, according to executives in the industry, in a stunning turnaround for day rates since Covid.
Drilling operations on the North Eigg exploration well have been hit by delays, Serica Energy (LON: SQZ) has confirmed.
Unite the union will ballot over 300 drilling workers and contractors over strike action, after members rejected a 5% pay deal.
Offshore drilling giant Transocean (NYSE: RIG) has announced two new contract wins totalling more than $1 billion.
Sembcorp Marine has successfully delivered the “world’s first eighth-generation drillship”, the Deepwater Atlas, for Transocean’s subsidiary Triton Atlas, the Singapore yard reported.
Equinor has awarded Transocean a contract extension for its Spitsbergen semi-submersible rig, which will see it in use off Norway until 2025.
US drilling contractor Transocean reported pre-tax losses of $470 million for 2021, compared with $541m the previous year.
Transocean has landed a $252million contract after Beacon Offshore Energy and its partners reached FID on the Shenandoah project in the Gulf of Mexico.
Transocean’s Deepwater Nautilus semi-submersible unit looks set to keep drilling offshore Myanmar for South Korea’s POSCO after the Swiss-based driller announced a contract extension.
Noble Corporation and a consortium including Transocean and Dolphin Drilling are competing to acquire the assets held by Seadrill, according to a news report, as it undergoes Chapter 11 bankruptcy.
Transocean has hailed a “monumental achievement” in striking a deal with shipyard owners to defer $460m payments on two new-build drillships.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.