Singapore’s Swissco, a debt-burdened provider of offshore rigs and vessels, has filed an application to be placed under judicial management after it failed to reach a debt restructuring deal with creditors. The company in its quarterly report last week said it had reached an impasse with its major l
Offshore drilling specialist Seadrill saw its third-quarter revenue drop 25 percent on lower dayrates and rigs going out of work. Revenue was $743 million, down from $985 million in the third quarter of 2015. During the quarter, the West Orion, West Phoenix, West Alpha, West Pegasus and Sevan Drille
Deepwater drilling contractor Sevan Drilling went from black to red during the third quarter of 2016. Looking ahead, Sevan forecasted another challenging year in the offshore drilling business. The driller on Tuesday posted a net loss of $53.1 million compared to a $26.4 million profit in the same p
Lundin Petroleum’s Norwegian subsidiary Lundin Norway has completed the Neiden exploration well 7220/6-2R off Norway as an oil and gas discovery. The well is located in PL609 approximately 60 km northeast of the Alta discovery on the Loppa High in the southern Barents Sea. The main objectives of the
Offshore driller Maersk Drilling and oilfield equipment provider National Oilwell Varco have entered into a five-year partnership to improve maintenance predictability for drilling equipment. The two companies say the “shared vision” behind the pact is to implement a new maintenance mind-set which w
Offshore driller Rowan Companies and the Saudi Arabian Oil Company (Saudi Aramco) have signed an agreement to create a 50/50 joint venture to own, operate, and manage offshore drilling rigs in Saudi Arabia. According to the agreement signed through subsidiaries of the two companies, the new joint ve
U.S. drilling rig numbers are on the way up. This was revealed on Friday by Baker Hughes in its weekly U.S. rig count report, which shows both onshore and offshore rig count rising compared to the previous week. BHI Rig Count: U.S. +20 to 588 rigs U.S. Rig Count is up 20 rigs from last […]
Offshore drilling company Stena Drilling has decided to warm stack its semi-submersible drilling rig Stena Don in Norway. The driller has selected Semco Maritime’s facilities at Hanøytangen yard in Bergen, where the rig will be stacked, ready for future work. Stena Don arrived at the yard on Wednesd
RigNet, a provider of communications solutions for the offshore oil and gas industry, has been awarded a multi-million dollar remote communications contract with an offshore drilling contractor currently working on the Mariner field in the UK North Sea. RigNet said on Tuesday that the contract inclu
Offshore driller Awilco Drilling reported a $17.9 million profit for the third quarter of 2016, on a revenue of $35.7 million. The company has two semi-submersible drilling rigs, the WilPhoenix and the WilHunter. During the quarter, the WilPhoenix continued operations for Apache North Sea Ltd. at th
General Electric (GE) and Danish drilling company Maersk Drilling have partnered up to collaborate on a data analytic-driven pilot project with the aim to increase Maersk’s drilling rigs productivity. GE said on Wednesday that it was collaborating with Maersk Drilling collaborated to deploy SeaStr
Norwegian safety body, the Petroleum Safety Authority (PSA), has slapped Prosafe with a notification of order regarding the company not rectifying non-conformities spotted during an audit of the Safe Scandinavia tender support vessel (TSV) in September 2015. The Safe Scandinavia is an accommodation
November 2016 – Sirius Petroleum on Wednesday said it has hired a jack-up drilling rig from China’s COSL Drilling, to be used for a drilling campaign offshore Nigeria.
Offshore driller Seadrill Limited has reached a deal with the lenders under the West Eminence loan and the requisite majority of lenders under all of its other bank loans to extend the loan maturity date. According to the company’s statement on Wednesday, the maturity date of the loan related to the
