Search results for: Cold-Stacked

58286 results

A list of search results

  • 2 September 2015

    Norwegian marine geophysical company, Petroleum Geo-Services ASA (PGS), has decided to cold stack its 3D seismic vessel Ramform Viking. According to the company, the decision was made in order to further reduce cost and capital expenditures, and to improve utilization. The company said it would cold stack the vessel after it completes a MultiClient project offshore East […]

  • 20 February 2015
    Exploration & Production

    Rowan Companies, a Houston-based drilling contractor, will shut down another rig. This time it is the Rowan Louisiana jack-up drilling rig. In its fleet status report issued this week the company has said it is preparing the rig for cold stacking, meaning the rig will be idled, crew let go, and all the hatches welded, cutting the costs to […]

  • 2 September 2015
    Business & Finance, Operations & Maintenance

    Oslo-listed Petroleum Geo-Services (PGS) has decided to cold-stack its vessel Ramform Viking after it wraps up a multi-client project offshore East Newfoundland in late October this year. The vessel was originally scheduled for a yard stay and classing in Q1 2016, which will be deferred. In-sea equipment from the Ramform Viking will be used on […]

  • 1 December 2016
    Business & Finance

    Norway-based Island Offshore, an operator of the fleet of 28 vessels, informed that the number of vessels in winter lay-up may increase to 14, which constitutes 50% of the company’s fleet. Currently the company has 11 vessels in lay-up whereof 5 are cold stacked. The number of vessels in lay-up may increase from 5 to […]

  • 26 November 2015
    Exploration & Production

    Offshore drillers have scrapped forty-four floating drilling rigs in a little over a year, due to a combination of persisting low oil prices, reduced drilling activity, and oversupply in the rig market. The numbers above were revealed this week by Seadrill, one of the largest providers of ultra-deepwater drilling rigs, who expects the challenging market […]

  • 27 April 2016

    Prosafe, an operator of semi-sub accommodation units known as flotels, has decided to scrap three of its oldest units, and to cold stack other units starting with the Safe Astoria. The company said on Wednesday that it would scrap its 1982-built Jasminia, the 1977-built Hibernia and Safe Britannia, built it 1980. Prosafe’s Safe Astoria was built in 1983, […]

  • 21 December 2016
    Exploration & Production

    Offshore drilling contractor Noble Corporation has decided to cold stack another one of its semi-submersible drilling rigs amid challenging drilling market. In its latest fleet status report for a period between November 23 until December 20, 2016, the driller said on Tuesday that the 1980-built drilling rig Noble Max Smith was cold stacked. The rig, of […]

  • 20 May 2016
    Exploration & Production

    Offshore drilling contractor Noble Corporation is set to stack two semi-submersible drilling rigs and two drillships.  The drilling contractor said in its latest fleet status report that the 1986-built Noble Dave Beard was under tow to Singapore where it would be cold stacked. Furthermore, Noble said, the Noble Jim Day was also preparing for cold stack. Noble Dave Beard is […]

  • 5 February 2014

    Ensco plc has sold its two remaining cold-stacked jack-up rigs for $33 million. The net book value of the two rigs, ENSCO 69 and Wisconsin, both built in 1976, was approximately $9 million. The pre-tax gain on the sale is approximately $24 million, which will be included in first quarter 2014 operating results. Executive Vice President […]

  • 30 April 2015
    Business & Finance, Equipment, Operations & Maintenance

    Oslo-listed seismic player Petroleum Geo-Services (PGS) has booked a net loss of $19.5 million for the first quarter of 2015, compared with a $4.6 million profit in the corresponding period in 2014. In the first quarter of 2015, the company recorded revenues of $251 million ( out of which $143.3 million goes to MultiClient revenues), […]

  • 19 January 2017
    Exploration & Production

    Prosafe, an owner and operator of semi-sub accommodation rigs, has decided to sell one of its units for scrap after buying two new ones from Axis Offshore.  Following the completion of the acquisition of Safe Nova and Safe Vega through a deal made with Axis in November 2016, Prosafe has now taken a final decision […]

  • 27 January 2017
    Exploration & Production

    With over 70 ultra deepwater floating rigs stacked and waiting for contracts and over 20 newbuilds sitting virtually complete at shipyards under deferred delivery agreements, offshore rig reactivation risk stands in the way of market recovery, writes David Carter Shinn, a partner at Bassoe Offshore, a Norwegian rig brokerage agency.   By David Carter Shinn The […]

  • 16 February 2016
    Exploration & Production

    Fred. Olsen Energy, a Norwegian offshore drilling company, sank to a loss in the fourth quarter of 2015 after a non-cash impairment charge of $158 million, including an impairment of $91 million in connection with the cancellation of the Bollsta Dolphin rig. To remind, Fred. Olsen’s subsidiary Bollsta Dolphin terminated a newbuilding contract with Hyundai Heavy Industries (HHI) for the […]

  • 4 April 2017

    Seismic contractor, Polarcus, has seen a minor decrease in its vessel utilization during the first quarter of 2017. The utilization of the vessel fleet was 72 percent in Q1 2017 compared to 79 percent in the corresponding period in 2016. On the contracted basis the vessel activity was 58 percent compared to 67 percent in Q1 2016. The […]

  • 30 April 2015
    Business & Finance, Exploration & Production

    In the first quarter of the year, U.S. offshore drilling contractor Hercules Offshore laid off almost 40 percent of its workforce. This was revealed yesterday at a conference call by the company’s CEO, John T. Rynd. As Offshore Energy Today has reported earlier, if seismic contractors are the first to feel the consequences of capex […]

  • 4 October 2016

    Seismic contractor, Polarcus, has seen a slight drop in the vessel activity in the third quarter of 2016. The utilization of the vessel fleet was 90 percent in Q3 2016 compared to 93 percent in the corresponding period in 2015. On the contracted basis the vessel activity was 20 percent higher, coming to 86 percent compared to […]

  • 6 September 2017
    Exploration & Production

    Offshore drilling contractor Noble Corporation has informed that none of its warm stacked and working rigs have been damaged due to Hurricane Harvey that recently hit the U.S. Gulf of Mexico. In its post-Hurricane Harvey fleet status update on Tuesday, Noble said that its Gulf of Mexico fleet consists of three contracted units, three warm […]

  • 23 October 2015
    Project & Tenders

    Dolphin, a provider of marine seismic services, has received a Notice of Time Charter termination for the two vessels Sanco Swift and Sanco Sword. The new operator of these vessels will be another seismic player-PGS. The company announced today that it has entered into charter agreements leading to cold-stacking of its Ramform Vanguard and Ramform Valiant. According […]

  • 2 November 2016
    Exploration & Production

    Credit Rating’s agency Standard and Poor’s has downgraded its corporate credit rating on Houston-based offshore drilling company Diamond Offshore Drilling Inc. to ‘BB+’ from ‘BBB’. The rating outlook is negative. S&P pointed to the persisting weak conditions in the global offshore drilling industry, caused by limited demand and the “still increasing” rig supply. Apart from […]

  • 2 April 2020
    Business & Finance

    Marine geophysical firm PGS said it expects the low oil price to have a material negative impact on demand for seismic services and activity. The company is implementing cost and capital expenditure measures to meet an expected significant revenue reduction, with details to be provided in Q1 2020 earnings release. PGS said it has not […]

  • 7 April 2020
    Business & Finance, Business developments & projects, Infrastructure, Vessels

    Norwegian seismic services company EMGS has noted an extremely low vessel utilization for the first quarter of 2020 due to project cancelations, which ensued following the recent oil price drop and the coronavirus pandemic. As a result, one of EMGS’ vessels is up for a cold-stack.

  • 21 April 2017
    Exploration & Production

    Offshore drilling contractor Noble Corporation has decided to cold stack one of its drillships.  In its latest fleet status report on Thursday, the driller said that the drillship Noble Bully I is en route to Curaçao, preparing to cold stack. The drillship has been working for Shell in the U.S. Gulf of Mexico from March […]