A stack more floaters are headed for the chop
The direction of travel appears clear; around a quarter of the current offshore floater rig fleet - ships and semi-submersibles - will be sent to the scrapyard near-term.
Transocean
Protest-plagued North Sea project achieves first oil
A £200 million North Sea project that environmental activists repeatedly tried to thwart has delivered first oil.
ETIDEX: Greenpeace and lawyer at odds over North Sea activism
Greenpeace has been told that its activism in the North Sea crossed "the line” and “put lives at risk”, during the inaugural ETIDEX event from Energy Voice.
Transocean to lay off more offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
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.
Petronas to stoke Chinese fury as Transocean drills in South China Sea
Analysts are expecting a backlash from Beijing as Malaysian national oil company (NOC) Petronas prepares to drill in gas-rich Block SK 316 in the South China Sea off the eastern Malaysian state of Sarawak.
‘Structurally broken’ offshore drilling sees wave of firms go bust
Offshore drilling contractors are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide slump in commodity prices.
Transocean’s search for strategic options sends debt plunging
Transocean Ltd. is exploring strategic alternatives to address its $9 billion of debt as the world’s biggest owner of deep-water oil rigs confronts history’s worst crude crash.
Driller Noble files for bankruptcy to erase huge debt pile
Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.
Hurricane terminates Transocean rig contract
Transocean said in its latest fleet status report that Hurricane Energy had terminated its contract for the Paul B Loyd Jr drilling rig.
Transocean to lay off 110 offshore rig workers
Transocean Deepwater plans to lay off as many as 110 workers after the Houston offshore driller could not secure a new contract for one of its drillships amid low oil prices.
Greenpeace hit with £80k fine over North Sea protest action as director escapes jail term
Climate activist group Greenpeace has been hit with an £80,000 fine over North Sea protest action in 2019.
‘We will not be silenced’: Court ruling could see Greenpeace chief imprisoned over North Sea protest
A Greenpeace boss has vowed that his organisation “will not be silenced” despite facing a lengthy prison sentence over North Sea protest action in 2019.
Debt hyenas are circling stricken rig contractors
What in recent offshore industry terms were regarded as five of the most powerful brands in US drilling history are in deep trouble and the situation can only get worse.
Transocean doubles losses amid oil price crisis
Rig operator Transocean has seen its pre-tax losses more than double year-on-year as it tackles the effects of Covid-19 and the oil price crash.
Greenpeace stands ‘good chance’ of challenging BP North Sea permit, director says
Climate activist group Greenpeace has a “good chance” of challenging BP’s North Sea permit for the Vorlich field, according to the organisation’s director.
Burullus cuts Transocean rig off Egypt
Burullus Gas has ended a contract for Transocean’s Deepwater India rig, which had been operating in Egypt.
Transocean ‘taking precautions’ as Covid-19 confirmed on rig
Transocean has said it is “taking precautions” after two crew members tested positive for Covid-19 on one of its rigs offshore UK.
UK Government in hot water over ‘failure’ to publish BP North Sea drilling consent
The UK Government has been ordered to pay the costs of Greenpeace seeking a judicial review after it rubber-stamped BP’s drilling plans for a North Sea field without telling the public.
Transocean lawyer brands Greenpeace’s protest ‘inherently dangerous’
A judge will decide next month whether to punish an executive director of Greenpeace for his hand in a protest on board an oil rig last year.
Transocean to resume push for Greenpeace fines, prison sentences in court today
Drilling contractor Transocean will today ask a Scottish court to slap Greenpeace with heavy fines and send one of its bosses to prison over a high-profile protest last year.
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.
Transocean pushing for jail time despite favourable North Sea ruling, Greenpeace claim
Drilling contractor Transocean is understood to pushing for jail time and fines against Greenpeace bosses, despite receiving a favourable ruling halting any further North Sea action.
Updated: Lack of action will see ‘increased’ North Sea protests, Greenpeace boss warns
A Greenpeace climate boss has warned that "increased" North Sea protest action will take place if strong measures on tackling emissions aren’t executed by oil and gas firms.
Equatorial Guinea offers ExxonMobil short extension
Equatorial Guinea expects $1.4 billion to be invested in the country in the 2020 fiscal year, with a mix of exploration and appraisal drilling.