Rowan Companies, a U.S. based offshore driller has, for the 4th quarter of 2014 reported a net loss of $326.9 million, due to a non cash asset impairment charge of $438.4 million, relating to twelve of the company’s oldest jack-up rigs. Excluding the impact of this noncash asset impairment charge, n
Statoil will shut down its Statfjord C platform, located in the Norwegian part of the North Sea, due to cracks discovered on the flare tower. According to Aftenbladet, a Stavanger-based newspaper, the crack on the flare tip was discovered a little over a week ago when an unusual flame from the tip w
Singapore’s Keppel FELS is on track to deliver PV Drilling VI, a KFELS B Class jack-up rig, to PV Drilling Overseas (PVDO), a subsidiary of PetroVietnam Drilling & Well Services Corp (PV Drilling). It is the 100th jack-up rig Keppel FELS has built since 1970, of which more than half are based on the
Following the sanction of the Peregrino Phase 2 project in December, Statoil together with its partner Sinochem submitted the Plan of Development (PoD) to the National Agency of Petroleum, Natural Gas and Biofuels (ANP) in Rio de Janeiro on January 30. The project entails a new well head platform an
The Petroleum Safety Authority Norway (PSA) has carried out an audit of the work of ConocoPhillips (COPSAS) to ensure compliance with regulatory requirements within the disciplines of technical safety and process safety in respect of the operation and maintenance of Ekofisk 2/4 J (EkoJ) located in t
The Norwegian Petroleum Directorate (NPD) has granted Total E&P Norge AS a drilling permit for well 25/6-5 S located in the North Sea. In addition to NPD’s consent, Total E&P also received consent from the Petroleum Safety Authority (PSA) Norway for drilling of wells 25/6-5 S and 25/6-5 A. According
After it has been announced that Diamond Offshore is facing early termination for several of its rig contracts, another U.S.-based drilling contractor is facing a similar faith. Namely, Hercules Offshore has received a notice from Saudi Arabian oil company Saudi Aramco terminating its drilling contr
ALP Maritime Services has taken delivery of two towing and anchor handling vessels, ALP Winger and ALP Guard. The company reflagged the vessels under Dutch Flag. The vessel ALP Guard was previously known as AHT Uranus and ALP Winger as AHT Janus. In November 2014, the company bought six long distanc
Transocean, a Swiss-based offshore driller has reported its 4Q 2014 revenues were 2.23 billion, slightly less that $2.25 bilion achieved a year ago. The decrease was due primarily to increased idle time on several rigs partly offset by higher revenue efficiency, lower out-of-service days, and the st
Offshore drilling contractor Seadrill Limited has today reported a drop in its fourth quarter revenues. The company’s 4Q 2014 revenues were $1.26 billion, compared to $1.46 billion in the corresponding period of 2013. The company’s 4Q net income was $150 million, versus $281 million a year ago. The
Ocean Rig, an offshore drilling contractor, has reported its fourth quarter 2014 profit was $87 million, as compared to a net profit ot $39.7 million a year ago. Revenues from drilling contracts increased by $153.9 million to $499.4 million for the quarter, as compared to $345.5 million for the same
Awilco Drilling, a UK-based drilling contractor, has informed that Hess Limited has allowed its option on WilHunter rig to lapse. In March 2013, Hess extended the contract of 400 days to additional 550 days totalling in 950 days plus option for up to 275 days. According to this, the WilHunter is on
Total E&P Norge AS (TEPN) has received consent from the Petroleum Safety Authority (PSA) Norway for exploration drilling of wells 25/6-5 S and 25/6-5 A, located in the North Sea. TEPN is the operator for production licence 627 in block 25/6 in the central North Sea. TEPN is to drill wells 25/6-5 S a
Odfjell Drilling has said that it expects the drilling industry market to stay weak for the next couple of years. As a reason for this, the company has cited continued delivery of new drilling rigs and oil companies’ cuts in spending, leading to a growing number of stacked drilling rigs and continue
