Fossil Energy
EMGS Disappointed by Multi-Client Sales in 3Q
Electromagnetic Geoservices ASA (EMGS) reported revenues of USD 23.6 million in the third quarter 2013, down from USD 44.4 million in the previous quarter and from USD 43.2 million in the third quarter last year. Contract sales totalled USD 21.5 million, while multi-client sales came in at USD 2.1
Havyard, Forland Make ‘Lewek Inspector’ Deal
Havyard Ship Invest AS (“Havyard”) has on 14 November 2013 agreed with Forland Subsea AS to acquire a 25 % stake in the shipowning company for Forland’s new subsea construction vessel, Lewek Inspector. The vessel is scheduled for delivery from Havyard on 14 November 2013 and will immediately start a
DOF Scores Multiple Contracts Worth $902 Million
Norwegian DOF Group today announced it has secured several contracts worth NOK 5,6 billion (approximately $902 million) in total. DOF Subsea Chartering AS, a subsidiary of DOF Subsea AS has entered into a time charter agreement with Technip UK Ltd. for hull no 800 under construction at Vard Group
Maersk Drilling Profit Rises on High Operational Uptime
Danish drilling contractor Maersk Drilling delivered a strong financial performance with a profit (NOPAT) of USD 148m (USD 84m) and a return on invested capital of 11.7% (8.5%). The increase in profit compared to Q3 2012 was mainly driven by higher average day rates and higher operational uptime, wh
PGS Ends First Towed Streamer EM and 2D Seismic Survey (Ireland)
Petroleum Geo-Services (PGS) has completed the first ever full-scale simultaneous acquisition of towed streamer EM and 2D GeoStreamer® seismic. The first datasets for this MultiClient acquisition will be available late Q2 2014. The program, which was undertaken with industry support, consisted of ap
Bergen Group on a Mission to Increase Operating Profit
In the 3rd quarter of 2013, Bergen Group had a turnover of NOK 1 037 million and an operating profit before depreciation and impairment (EBITDA) of NOK 9 million. The Group’s order book was NOK 2.6 billion at the end of the quarter. CEO Asle Solheim states that the operating profit has not yet retur
Northern Offshore: 3Q Figures Down on Lower Rig Utilization
Northern Offshore, a Bermuda-headquartered drilling contractor today reported its net income for the three months ended September 30, 2013, was $2.7 million, or $0.01 per diluted share. This compares to net income of $17.8 million, or $0.12 per diluted share for the third quarter of 2012. Revenues f
Faroe Petroleum Buys Remaining Share in Lowlander Field, UK
Faroe Petroleum, the independent oil and gas company, announces that it has acquired the remaining 50 per cent interest in the Lowlander oil discovery in the UK Central North Sea, such that the Company will own the entire 100 per cent interest in the undeveloped oil field. The Company has entered in
Petroceltic: No Oil at Cobalcescu Well Offshore Romania
Petroceltic International plc , the upstream oil and gas exploration and production company focused on North Africa, the Mediterranean and Black Sea regions, today provides an update on its 2013 two well Romanian drilling campaign. The Cobalcescu South-1 exploration well offshore Romania was designe
Ensco CEO Calls It Quits
Ensco plc announced yesterday that Chairman, President and CEO Dan Rabun has decided to retire after nearly eight years of service. Rabun will continue to serve in his current role as Chairman, President and CEO until the Board of Directors has completed the succession process and a new CEO has been
EnQuest New HQ to be Completed in 2015
Work is now well underway to build a new North Sea headquarters in Aberdeen for leading UK independent oil producer EnQuest. Aberdeen’s Lord Provost yesterday (Tuesday, November 12) gave his seal of approval to what is set to become a new landmark building in the city. EnQuest’s new HQ will replace
Lundin Hires Apply for Edvard Grieg Pre-Op Services
Apply by Apply Sørco’s Operations and Engineering Services department (O&ES) has been awarded a contract by Lundin relating to Pre-Operations Services for the Edvard Grieg field in the Norwegian part of the North Sea. “The contract is important, both in that it will generate significant volumes
Aberdeen – Oslo Flights Frequency Up on Oil & Gas Industry Demand
The frequency of flights between Aberdeen and Oslo is to be increased due to demand from the oil and gas industry, according to operator bmi regional. The airline’s scheduled service providing direct access from Europe’s oil and gas capital to the Norwegian capital launched on 28 October as a sing
Bibby Offshore Hires ‘Olympic Ares’ CSV
Aberdeen-based subsea installation contractor Bibby Offshore has signed a charter agreement for construction support vessel (CSV), the Olympic ARES. The agreement with Olympic Shipping will initially be a seasonal charter beginning at the end of Q1 2014 with options to extend. The vessel will be