Statoil cancels Transocean drillship contract
Statoil has cancelled the contract with Transocean for the drillship Discoverer Americas.
Transocean
Transocean delists from Swiss stock exchange
Transocean said the stock exchange in Switzerland has approved the company's application to delist its shares. The company, which yesterday announced a contract win with Faroe Petroleum, said the SIX delisting will come into affect from the end of March next year.
IOG signs “breakthrough” deal with Transocean for North Sea’s Skipper
Independent Oil and Gas (IOG) has signed a "breakthrough" deal with Transocean for its North Sea Skipper prospect.
Transocean lands two year contract with Husky Oil
Transocean has won a two-year contract with Husky Oil Operations.
Drilling contractors facing up to long downturn
The North Sea drilling market is facing up to the prospect of lean times for at least the next two years, according an experienced industry analyst.
Transocean’s Norway deal marks new rig-rate low in oil slump
Transocean Ltd., the biggest offshore-rig operator, won a contract to drill four wells off Norway for Det Norske Oljeselskap ASA at a day rate of about $180,000, the lowest recorded tariff in the Nordic country since oil began to tumble last year.
Transocean’s revenues fall by 29%
Transocean’s revenues have fallen 29% in the third quarter of the year as the company continues to be challenged by the decline in oil price. The oil driller said fleet utilisation was down to 70% compared with 75% in the previous quarter and the year-ago period. The company has already reduced its number of rigs taking a number out of service as well as scrapping others.
Transocean wins UAE contract
Transocean has won a contract for its GSF Constellation I drillship in the United Arab Emirates (UAE). The win comes after the company said yesterday it had agreed with oil major Shell, to delay two drillships both by 12 months. The dayrate for the drillship will be $104,000.
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Transocean tight-lipped on jobs situation
Offshore drilling contractor Transocean has refused to confirm it held a meeting with staff at its Aberdeen premises concerning potential reduction in headcount.
Vaalco bows to weather and reschedules in Gabon
US explorer Vaalco has altered its drilling and workover programme offshore Gabon in the Etame Marin block after adverse weather forced it to reschedule.
Transocean to hold meeting with North Sea staff after job loss warning
Transocean is expected to hold a meeting with staff at its Aberdeen premises as the threat of more job losses loom. The company, which is based in Switzerland and listed in New York, has felt the brunt of a slowdown in offshore drilling, as oil companies look to pull back from high-cost areas such as deepwater. Workers at its North Sea operations had been warned in recent weeks jobs would be at risk for up to 15% of employees.
Transocean mentioned in Petrobras carwash corruption probe
Transocean Ltd., the world’s largest offshore rig contractor, has been linked for the first time to the corruption probe of Petroleo Brasileiro SA, the state-owned energy giant at the center of Brazil’s biggest corporate scandal. A former executive at Brazil’s state-run oil company has testified to receiving what he says were payments made by someone claiming to be a Transocean agent in exchange for a rig- operation contract from Petrobras. “Transocean has a long-standing commitment to and upholds the highest standards for corporate ethics and compliance,” the company said in an e-mailed response. “Our employees -- and everyone conducting business on our behalf -- are required to adhere to our high standards for integrity, honesty, financial discipline and legal and regulatory compliance.”
VNG Norge gets go-ahead for new wildcat well
The Norwegian Petroleum Directorate has issued a drilling permit to operator VNG Norge for a new wildcat well in the North Sea.
North Sea veteran rigs to be broken up
The Transocean semi-submersible drilling rigs JW McLean and GSF Arctic III are on their way to scrappers in Turkey.
Transocean to scrap historic Cold War ship
Transocean's list of offshore rigs scheduled for disposal - ostensibly destined for cutting up - has grown up to 19 with further units likely to join the scrapping queue. The list so far comprises: Deepwater Expedition, GSF Article III, GSF Explorer, DSF Seven Seas, Sedco 710, Sovereign Explorer, Sedco 700, Sedco 601, JW McLean, GSF Arctic I, Falcon 100, Sedneth 701, Sedco 703, Sedco 709, C K Rhein, Jr, SF Aleutian ey and Sedco 70, plus Transocean Legend and Transocean Rather. Expentation is that roughly another 10 will be weeded out this year before Transocean bosses are satisfied that the fleet is back in balance.
NOV appoints interim CFO after Transocean move
NOV has appointed an interim chief financial officer after Jeremy Thigpen was snapped up to take the helm of Transocean as chief executive. It follows his move after 18 years with the company. The firm's vice president, Scott Duff, has been named as interim financial officer while a replacement is sought.
Transocean appoint new chief executive
Transocean has appointed NOV's chief financial officer as its next chief executive. The company said Jeremy Thigpen would take up the role, replacing Ian Strachan who had been filling the position in an interim capacity. Mr Strachan, will also retire as the chairman of the board of directors at the end of his term at the 2015 annual general meeting.
Transocean chief exec to step down
Transocean said its current chief executive Steve Newman has stepped down from his role. The company said both Mr Newman and the board of directors had mutually agreed that he will step down as well as resigning as a director. Ian Strachan, chairman of the board, will step in as Transocean’s interim chief executive officer.
Maersk Training signs agreement with Transocean
Maersk Training has entered into a global training agreement with Transocean. The deal will make the company responsible for administration of all and delivery of certain training for Transocean’s offshore crew for a period of at least five years.
Camac Energy contracts out Transocean drilling unit
The semi-submersible drilling unit, the Sedco Express, has arrived at the Oyo field in Nigeria. Camac Energy said it had contracted the Transocean Sedco Express to speed up the timing of production tie-in from the Oyo-7 and Oyo-8 development wells.
Providence Resources wins court case made against it by Transocean UK
Oil and gas explorer Providence Resources has won a case related to claims made against it by firm Transocean Drilling UK. A ruling was made in its favour at the commercial court in London. The case related to costs made by Transocean against Providence regarding the use of the Arctic III mid-water semi-submersible rig in 2011 and 2012 on its Barryroe oilfield offshore Ireland.
Market slump sinks Transocean’s Caledonia float-off
In May, Transocean revealed a plan to hive off its eight North Sea midwater rigs into a spin-off company to be called Caledonia Offshore Drilling to be based in Aberdeen. The offshore drilling assets scheduled to move across to Caledonia included the Sedco 704, Sedco 711, Sedco 712, Sedco 714, Transocean John Shaw, Transocean Prospect, GSF Arctic III and JW McLean. While the company has pressed ahead with creating the subsidiary, plans for full separation have been sunk by the slump in oil prices and the impact of that on its performance.