Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Scrapping of offshore oil rigs needs to be significantly ramped up in order to end the “bankruptcy nightmare” of their owners, according to Bassoe Offshore.
UK operators will "struggle” to find semi-submersible rigs for work in the North Sea next year, according to new analysis.
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.
Valaris, the world’s largest offshore drilling firm, has filed for Chapter 11 bankruptcy with a plan it said would reduce its debt by $6.5billion.
Saudi Aramco has paused its contract for the High Island IV jack-up rig, owned by Shelf Drilling.
Marine energy service firm Acteon Group has hired Carl Trowell as its chief executive, replacing Richard Higham.
North-east energy sector chiefs largely welcomed an extension of the UK Government furlough scheme, but cautioned it may do little to roll back the tide of oil and gas redundancies.
A group of workers have been evacuated from a Valaris drilling rig working in the North Sea due to concerns over an outbreak of Covid-19 onboard.
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.
An Aberdeen MSP has written to a clutch of North Sea firms calling on them to reconsider their decision to terminate hundreds of staff rather than use a UK Government-backed furlough scheme.
Rig operator Valaris fell to a £2.5billion pre-tax loss for the first quarter of 2020 due to write-downs on its oil and gas assets.
Drilling firm Valaris has set out plans to cut up to 332 jobs across its offshore rig fleet as contracts are cancelled amid the Covid-19 pandemic.
Texo Group has been delivering a range of services on Valaris 123 at the Port of Dundee including its rebranding.
Drilling firm Valaris has informed staff it could make hundreds of redundancies as rig contracts have dried up due to the recent slump in oil prices.
Drilling firm Valaris is set to undertake drilling and subsea work at Premier Oil's North Sea Catcher field next week.
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
As prices have plunged, interest in short selling of oil companies has increased.
The Valaris DS-8’s blowout preventer (BOP) dropped to the seabed on March 7 and the company is now trying to retrieve it.
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
A crane on a drilling rig in the UK North Sea has collapsed, shocking images show.
Seven people have been banned from all oil vessels in Scotland after they appeared in court accused of scaling a Dundee rig on Monday.
UK headquartered driller Valaris has received a $200 million cash payment after winning a case against Samsung Heavy Industries (SHI).
Dutch firm One-Dyas has confirmed an oil discovery with its Ossian-Darach well in the southern North Sea.
Drilling contractor Valaris has announced a number of North Sea contract extensions among a clutch of global deals.