Norwegian offshore driller Fred. Olsen Energy sank to a loss in 3Q 2016 and saw a decrease in its revenues when compared to the prior-year quarter. The company also informed that a contract for one of its rigs is expiring tomorrow, October 27. The company on Wednesday posted a net loss totaling $33.
Norwegian oil company Statoil has terminated a contract for the Stena Drilling-owned semi-submersible rig Stena Don earlier than expected thus bringing into question around 180 jobs. According to a statement on Monday by the Norwegian offshore workers’ union, Safe, the contract for the Stena Don rig
Following the recent success of the Roc-2 appraisal well, Quadrant has decided to proceed to the Phoenix South-2 appraisal well offshore Western Australia. Carnarvon Petroleum, Quadrant’s partner on the project, said on Tuesday that the Phoenix South-2 (PS-2) well drilling is expected to begin withi
Offshore drilling contractor Transocean has been awarded several new contracts for its rigs in the UK North Sea as well as a new contract off Canada. According to Transocean’s latest fleet status report on Monday, the 1983-built semi-submersible Sedco 712 has been awarded a 16-well contract in the U
The U.S. offshore rig count remained unchanged for the second week in a row, the oilfield services provider Baker Hughes informed on Friday in its Weekly Rig Count report. BHI Rig Count: U.S. +14 to 553 rigs U.S. Rig Count is up 14 rigs from last week to 553, with oil rigs up 11 to […]
Offshore drilling contractor Noble Corporation has received a contract award for a jack-up drilling rig in Qatar. The company reported in its latest fleet status report on Thursday that the jack-up drilling rig Noble Houston Colbert has been awarded a contract by JX Nippon in Qatar. The contract, wi
Singapore’s rig builder Keppel Offshore & Marine, hit by challenging market conditions and a drop in workload, in the third quarter 2016 cut its workforce by 3.080 people; 660 in Singapore and 2,420 in overseas yards. This means that for the first nine months Keppel O&M has reduced its direct workfo
Offshore driller Transocean has through its subsidiary Transocean Phoenix 2 closed the previously announced offering of $600 million in aggregate principal amount of 7.75% senior secured notes due 2024. The notes are guaranteed by Transocean Ltd., Transocean Inc. and a wholly-owned indirect subsidia
Oil and gas company Niko Resources has reached a settlement agreement with offshore drilling contractor Diamond Offshore over drilling contracts for the pair of semi-submersible rigs Ocean Lexington and Ocean Monarch. Niko hired Diamond’s semi-sub Ocean Monarch in 2011 for a four-year term with the
Quadrant Energy’s Roc-2 well offshore Western Australia has successfully flowed gas and condensate to the surface over the course of a sustained flow test program. Carnarvon Petroleum, a partner in the project, said on Wednesday that the well flow tested at rates up to 51.2 million scf per day of ga
Drilling contractor Rowan Companies is facing a couple of early terminations of drilling contracts while also winning new jack-up deals. Rowan confirmed in its latest fleet status report on Tuesday that its customer Cobalt will pay approximately $96 million in exchange for the right to terminate the
Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, CGX Energy, has canceled a partnership deal for the company’s proposed wharf and logistics yard in Berbice, Guyana. CGX had entered into a term sheet agreement with an undisclosed potential
The Norwegian Petroleum Directorate (NPD) has granted Aker BP, a new oil exploration and production company formed by BP Norge and Det norske merger, a drilling permit for well 25/2-18 B, offshore Norway. According to the agency, the well 25/2-18 B will be drilled from the Maersk Drilling-owned Maer
Drilling contractor Paragon Offshore has been awarded a contract for one of its jack-up drilling rigs. In its latest fleet status report on Monday, Paragon said its jack-up drilling rig Paragon B391 has won a contract with Centrica in the UK sector of the North Sea. The contract is for light well in
