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).
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.
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 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 offshore workers have voted for strikes across 20 North Sea installations, Unite the Union has announced, causing "major problems" for production.
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.
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.
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.
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.