Norwegian Petroleum Safety Authority (PSA) has granted consent to Wintershall to drill two exploration wells, in the North Sea, using the Borgland Dolphin drilling rig. The two wells, 35/8-6S and 35/8-6A, are located in Wintershall-operated production licence 248, offshore Norway. According to the s
Ensco, a UK-based drilling contractor, has decided to scrap five of its jack-up drilling rigs and one drillship in order to reduce costs. The rigs set for scraping are jack-up drilling rigs Ensco 56, Ensco 81, Ensco 82, Ensco 86, and Ensco 99, and a 1999-built drillship Ensco DS-1. Ensco Chief Execu
Offshore deepwater drilling contractor Seadrill has seen a boost in its income during the fourth quarter of 2015, but a drop in revenues both year over year, and sequentially due to idle rigs. In the company’s fourth quarter 2015 results report on Thursday, Seadrill reported net income attributable
Norwegian oil giant Statoil has completed drilling of wildcat well 30/9-28 S, near the Oseberg field in the North Sea offshore Norway, that resulted in a minor gas discovery. Statoil is the operator of production licence 104 where the well is located. The well was drilled about 5.5 kilometres west o
Offshore drilling contractor Transocean has posted net income of $611 million for the fourth quarter of 2015 compared with a year-earlier loss of $739 million. Fourth quarter 2015 results included net unfavorable items of $4 million: $29 million related to loss on impairment of the GSF Grand Banks a
German oil and gas company Wintershall has failed to find hydrocarbons in its Kvalross exploration well located in the Barents Sea, offshore Norway. According to Faroe Petroleum, an independent oil and gas company and a partner in the project with 40% stake, the drilling has reached target depth on
Maersk Drilling, an offshore drilling contractor, has informed that a Norwegian oil firm Statoil has cancelled a contract for one of its drilling rigs. The offshore driller afterwards signed a new agreement whereby the rig is now under contract with Total. Statoil has cancelled the contract for the
Ensco, a UK-based offshore drilling contractor, has received a contract award for one of its drilling rigs from Chevron in Indonesia. According to Ensco’s February fleet status report, the 2011-built, deepwater, semi-submersible drilling rig Ensco 8504 is currently mobilizing to Indonesia. The rig w
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 Bolls
Offshore drilling company Pacific Drilling has received a warning from the New York Stock Exchange, according to which the company’s shares do not satisfy a minimum share price, and are subject to delisting if the situation is not rectified. “On January 13, 2016, Pacific Drilling S.A. received notic
Transocean, one of the world’s largest offshore drilling contractors, is reportedly planning to cut at least 230 jobs in Norway. According to Stavanger Aftenblad, a Norwegian news website, Transocean previously axed 575 jobs and this latest round of job cuts was announced last week. The decision to
Paragon Offshore, a jack-up rig operator that came into existence after spinning off from Noble Corporation, has reached an agreement with its creditors to restructure its balance sheet. The company, recently delisted from the New York Stock Exchange, said on Friday the restructuring is expected to
Blackstone, one of the world’s largest investment firms, has set up a fund to finance the troubled offshore drilling industry. According to a statement on Thursday, the new platform, named Clarion Offshore Partners, will provide strategic solutions to the offshore oil and gas drilling and services s
Offshore drilling contractor Transocean has been awarded several new contracts for its drilling rigs. In addition, the driller’s newbuild drillship started a contract with Shell. In the company’s latest fleet status report covering a period from October 2015 till February 2016, Transocean said that
