Noble Corporation, a UK-based offshore driller has managed to extend a contract for one of its drilling rigs in January. In its fleet status report, Noble said Maersk Oil has decided to extend a contract for the Noble Sam Turner, a high-specification, harsh environment jack-up. However, the extensio
Premier Oil, an independent oil and gas company, has ended a contract it had with the offshore driller Ocean Rig for the Eirik Raude semi-sub. Namely, Premier Oil and Noble Energy entered into a contract with Ocean Rig UDW on June 3, 2014, for the provision of the Eirik Raude semi-submersible drilli
Awilco Drilling, a UK based drilling contractor that owns two semi-submersible drilling rigs, has posted a net loss of $32.9 million for the fourth quarter of 2015 after an impairment charge of $30 million. As a comparison, Awilco made a profit of $38.9 million in the 4Q of 2014. In the fourth quart
Danish offshore drilling contractor Maersk Drilling reported a hike in profits both for the fourth quarter, and for the full year 2015. In 4Q 2015, the company’s profit was $181 million, up from $53 million a year ago. For the full year, Maersk Drilling made a profit of $751 million, up from $478 mi
Songa Offshore, an offshore drilling contractor, has informed that another one of its Cat D drilling rigs has experienced blowout preventer (BOP) related operational issues. According to Songa Offshore’s January fleet update, the company’s Cat D drilling rig Songa Equinox performed weather related r
ConocoPhillips, one of the world’s largest independent oil and gas exploration and production companies has been fined after gas leaks on a gas platform off the Lincolnshire coast put workers’ lives in danger. According to the Health and Safety Executive (HSE) UK, ConocoPhillips admitted serious saf
Maersk Drilling has failed to find a new contract for the semi-submersible Maersk Developer and will now have to stack it, axing 80 jobs in the process. Following completion of a six-year contract with the Norwegian oil giant Statoil, the Maersk Developer arrived to Port Fourchon, Lousiana, where it
The international offshore rig count for January 2016 was down both sequentially and year over year, according to a report by Baker Hughes, an oilfield services provider. The international offshore rig count for January 2016 was 242, down 8 from the 250 counted in December 2015, and down 72 from the
Offshore drillers, companies providing drilling rigs for the oil and gas industry’s marine exploration efforts, continue to face murky market conditions, and according to Fitch ratings agency, the situation is nowhere nearly close to improvement. According to Fitch, a 70% drop in oil price, and the
Prosafe, the world’s largest provider of offshore accommodation rigs, has taken delivery of the new flotel. The flotel named Safe Notos, has been delivered to the company by the China-based Cosco shipyard. The Safe Notos, able to accommodate 500 workers, will be deployed on an eight-month firm contr
Independent Oil and Gas plc (IOG), the North Sea focused oil and gas company, has today entered into a conditional agreement with London Oil and Gas Limited (LOG) for the provision of a secured convertible loan facility for up to £10 million ($14.6M). In addition, the company agreed with its offshor
The Petroleum Safety Authority (PSA) has granted ConocoPhillips consent to use the Rowan Norway drilling rig for plugging and abandonment of wells at Ekofisk 2/4 B, offshore Norway. Ekofisk is an oil field lying in 70-75 metres of water in the southern North Sea. The field was produced to tankers un
Prosafe, the world’s largest provider of offshore accommodation units for the oil and gas industry, has posted a net loss of $6.8 million for the fourth quarter of 2015, down from $51 million profit for the fourth quarter of 2014. The company’s full year net profit was $85.6 million, down from a net
Noble Corporation, an offshore drilling contractor, has reduced its fleet to thirty units after retiring two drilling rigs. In addition, Noble will warm stack two of its ultra-deepwater semi-submersible rigs. In its 4Q results report on Thursday, Noble said it decided to retire the 1976-built drills
