Fossil Energy
Swiber forms Mexican subsidiary
Singapore’s Swiber Holdings Limited has established a new subsidiary in Mexico. The offshore marine services company said that together with its subsidiaries Swiber International Pte. Ltd. (“SIPL”) and Swiber Offshore Construction Pte. Ltd. (“SOCPL”), it had incorporated a new wholly-owned subsidiar
Genel aims to raise $400M for field development
Genel Energy plc intends to issue $400 million in aggregate principal amount of senior unsecured bonds maturing in 2019. The oil explorer, run by former BP CEO Tony Hayward, said it would employ net proceeds from the Bonds towards a combination of field development costs as well as general corporate
Bluewater reports loss in 1Q 2014
Bluewater group today reported that the net loss after tax for the first quarter of 2014 was U.S.$(3.3) million compared to a profit of U.S.$12.4 million for the first quarter of 2013. EBITDA for the for the first quarter of 2014 was U.S.$40.0 million compared to U.S.$51.3 million for the first quar
ADIL revenues rise by 53 pct
Increasing demand for ADIL’s specialist energy consultancy services has resulted in strong domestic growth figures for 2013 and positioned the company for the next stage in its international expansion strategy. ADIL, which provides integrated development and operations management support to the ener
UK’s upstream offshore supply chain employs 200,000 people
As a result of a project to map the UK oil and gas supply chain, Oil & Gas UK this week released two reports. The first report: the economic contribution of the UK upstream oil and gas supply chain shows that the UK supply chain is a £35 billion industry, based on 2012 figures from businesses regist
Senator Begich optimistic Shell will resume offshore operations in Alaska
Alaska’s U.S. Senator Mark Begich welcomed yesterday’s order by a federal judge in the latest lawsuit over Shell Oil Company’s plans to develop oil and gas in Alaska’s Arctic waters which sets in place a process for resumption of that development. U.S. Federal District Court Judge Ralph Beistline ye
Gulf Island Fabrication’s net income up
Gulf Island Fabrication, Inc. reported net income of $3.5 million ($0.24 earnings per share) on revenue of $134.7 million for its first quarter ended March 31, 2014, compared to net income of $2.8 million ($0.19 earnings per share) on revenue of $150.4 million for the first quarter ended March 31, 2
Songa Offshore sells two rigs. Forms JV with Opus Offshore
Songa Offshore, a Cyprus-headquartered offshore drilling contractor today announced it has sold two of its drilling units and entered a joint venture agreement to form another drilling company. “I am very pleased to announce that we have sold our two South East Asia drilling Units, Songa Mercur and
Ensco sells another jack-up rig
Ensco plc today sold ENSCO 85, a jack-up rig built in 1981, for $64 million. The net book value of the rig was approximately $54 million. The pre-tax gain on this sale was approximately $10 million, which will be included in the second quarter 2014 operating results. “Year to date, we have sold thre
InterMoor expands in Singapore
InterMoor, an Acteon company, has enhanced its customer support, substantially added to its stock of mooring equipment in Asia Pacific and opened a new office at the Loyang Offshore Supply Base in Singapore. The new office will accommodate InterMoor’s Asia Pacific team, including engineering, offsho
OTC 2014: BMT to showcase offshore technology support services portfolio
BMT Group Ltd (BMT), the leading international maritime design, environmental and engineering consultancy, will showcase its portfolio of offshore technology support services on Booth #2441-E at this year’s Offshore Technology Conference (OTC) exhibition, taking place next month in Houston, Texas. B
Forum Energy reports increased financial results
Forum Energy Technologies, Inc. announced first quarter 2014 revenue of $404 million compared to $373 million for the first quarter 2013. Net income for the first quarter 2014 was $37 million or $0.38 per diluted share compared to $32 million or $0.34 per diluted share for the prior year period. Inc
Tullow: No oil at Tapendar-1 well, offshore Mauritania
Tullow Oil plc today announces that the Tapendar-1 exploration well in the C-10 licence, offshore Mauritania, has not encountered hydrocarbons and the well is being plugged and abandoned. Tapendar-1 is the second exploration well in Tullow’s Mauritania exploration campaign, following the Frégate-1 w
DW: $24 bln to be spent on offshore helicopters by 2018
Douglas-Westwood forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period. Western Europe will continue to account for the largest share of global expenditure, driven by both the extensive North Sea inf