Noble Corporation has received several new contract extensions for its drilling rigs and cancellation of a drilling contract in Vietnam.
The worldwide offshore rig count in June 2020 dropped by 65 rigs year-over-year and 2 rigs sequentially, according to a report by Baker Hughes.
Seadrill has received a contract suspension for the jack-up drilling rig AOD II operating in the Middle East due to changes in the drilling program.
There is a case to be made that the coronavirus crisis has been setting the stage for the restructuring of the offshore drilling market.
Saudi Arabian oil and gas giant Saudi Aramco has suspended its contract for the Shelf Drilling-owned High Island IV jack-up rig.
The worldwide offshore rig count in May 2020 dropped 54 rigs year-over-year and 37 rigs sequentially, according to rig count reports by Baker Hughes.
International Maritime Industries (IMI) has cut the first steel on the first of two newbuild rig orders from ARO Drilling.
Shelf Drilling booked a loss of $185 million in the first quarter of 2020 due to rig impairment charges and is taking actions to reduce costs and preserve liquidity amid challenging market situation.
Oil giant Saudi Aramco has suspended the contract for one of Noble Corporation’s offshore drilling rigs.
The worldwide offshore rig count in April 2020 has dropped 28 rigs year-over-year and 19 rigs sequentially, according to rig count reports by Baker Hughes Company.
Borr Drilling has decided to sell two jack-up rigs for total cash proceeds of $15.8 million.
Transocean has received a contract termination for a drillship operating in Egypt.
Offshore construction yard Lamprell is implementing a program aimed at achieving a significant reduction in the group amid a global health crisis. As a result, Lamprell has mothballed one facility with plans to close another one upon completion of current projects.
The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and d
