Search results for: rig

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  • 12 May 2015

    Ocean Rig UDW, an offshore drilling company owned by the Greek shipping magnate George Economou, has reported its first quarter net profit was $41.4 million. This means the company has returned to 1Q profit, as the same quarter in 2014, Ocean Rig UDW reported a net loss of $1.5 million. Revenues from drilling contracts increased […]

  • 15 April 2016

    Offshore driller Ocean Rig will move its corporate domicile from one offshore financial center to another – from the Marshal Islands to the Cayman Islands. The driller, run by the Greek shipping magnate George Economou, said that starting April 15, Ocean Rig’s common shares will start trading under new CUSIP number G66964100. “All shares of Ocean […]

  • 7 March 2019
    Exploration & Production

    Since the oil price crash in 2014, the global MODU market has suffered through a rig demand collapse, which coupled with a vast oversupply of units resulted in dismal utilisation and dwindling day rates.

  • 9 December 2018
    Exploration & Production

    The number of active offshore rigs in the U.S. remained unchanged this past week but was 3 rigs stronger compared to the corresponding week of last year.

  • 28 October 2018
    Exploration & Production

    The number of active offshore rigs in the U.S. decreased by one unit this past week, according to a Friday report by Baker Hughes, a GE company.  

  • 14 October 2018
    Exploration & Production

    The number of active U.S. offshore rigs remained unchanged at 23 this past, according to a report by Baker Hughes, a GE company. 

  • 29 April 2018

    The weekly number of active offshore rigs in the U.S. remained flat this past week.

  • 15 May 2017
    Exploration & Production

    The word “recovery” dominates most discussions about the offshore oil and gas industry these days – and has done so for over two years. But what does recovery actually mean?   By David Carter Shinn There seems to be little doubt that a recovery in the rig market will happen one day, and from the […]

  • 5 May 2017
    Exploration & Production

    With rig owners and investors looking to scoop up assets at more realistic – but still low – values, transaction activity is picking up. And it’s set to continue. By David Carter Shinn We’ve been saying it for a few months: the offshore market looks better than it did six months ago. But there’s still […]

  • 8 May 2016
    Exploration & Production

    U.S. weekly offshore rig count this past week fell by one drilling unit, compared to the previous week, Baker Hughes said in its Weekly Rig Count report on Friday. BHI Rig Count: U.S. -5 to 415 rigs U.S. Rig Count is down 5 rigs from last week to 415, with oil rigs down 4 to 328, gas rigs […]

  • 17 January 2016
    Exploration & Production

    Baker Hughes has posted yet another Weekly Rig Count reports and yet again, offshore rigs in the U.S. are down, together with the overall rig count. BHI Rig Count: U.S. -14 to 650 rigs U.S. Rig Count is down 14 rigs from last week to 650, with oil rigs down 1 to 515, and gas […]

  • 27 July 2010

    Oil Rig in Dutch Harbor Alaska.

  • 28 July 2010

    This oil platform was towed from Bass Straight into Corio Quay for service works.

  • 28 July 2010

    seascape from North Sea rig

  • 16 May 2018
    Exploration & Production

    Borr raises $350 million in a matter of minutes as it takes a new bite out of the distressed asset fleet.

  • 8 January 2018
    Exploration & Production

    The theme for 2017 was perseverance. For 2018, it’s adaptation.

  • 21 July 2017
    Business & Finance, Exploration & Production

    UK-based offshore driller Ensco has found work for a number of its jack-up as well as semi-submersible drilling rigs in the North Sea, Gulf of Mexico, Australia, and Qatar.  According to the driller’s latest fleet status report issued on Thursday, two semi-submersible drilling rigs have been awarded contracts in the U.S. Gulf of Mexico. Namely, […]

  • 20 September 2017

    Offshore drilling company Ocean Rig on Wednesday announced a reverse stock split of 1-for-9200 common shares. This means that shareholders will own one Ocean Rig share for every 9200 shares they currently own. Ocean Rig said the the reverse stock split will take effect as of 5:00 P.M., New York City time, on September 21, […]

  • 8 October 2015
    Exploration & Production

    Ocean Rig UDW, an ultra-deepwater drilling contractor, might soon be regarded solely as a drillship provider, as the company is considering scrapping its semi-submersible drilling rigs. Namely, in its fleet status report issued on Wednesday, the company said that the outlook for further employment of its Eirik Raude and Leiv Eiriksson semi-submersible rigs was bleak. […]

  • 5 September 2016

    Struggling offshore driller Ocean Rig UDW has amended its credit facility signed with DNB Bank in February 2015 for up to $475 million. To remind, the original loan deal was signed by Ocean Rig’s subsidiary Drillship Alonissos Shareholders, and the owner of the Ocean Rig Apollo drillship, with the cash intended to be used to […]

  • 18 February 2019
    Exploration & Production

    The number of offshore rigs in the U.S. rose to 21 units last week, according to the weekly rig count report by Baker Hughes, a GE company 

  • 31 December 2018
    Exploration & Production

    The number of active U.S. offshore rigs last week remained steady at 24 active units, according to a report by Baker Hughes, a GE company.