An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil development in Virginia waters. Unlike other recent drilling bills, however, the new legislation is limited to natural gas drilling - thereby keeping in place a federal ban on offshore drilling for oil. Oil drilling is often considered more environmentally threatening than gas drilling, although environmental activists have raised objections to both. As the price of natural gas reached record highs this winter, Congress has been considering various proposals to lift the federal moratorium and allow for gas and oil drilling. But opposition has been formidable, particularly from Florida lawmakers who fear oil spills on tourist-drawing beaches. (Source: Daily Press)
Despite the announcement of a large offshore drilling merger this summer, the fragmented industry may have missed its chance for further consolidation due to a recent swift cyclical upswing, according to analysts. Shlumberger Ltd.'s announcement in July that it would merge its offshore drilling unit, Sedco Forex, with Transocean Offshore Inc., to form the world's largest offshore driller, was expected to set off a wave of consolidation in the industry
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation today reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for June 2003 was up 3.0% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent
SCORE ReportsWorldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2006 increased 1.7% to 130.4 from the previous month's SCORE of 128.1. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2004 was up 3.6% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent
Transocean's latest comprehensive Fleet Status Report provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the December 18, 2013 Fleet Update Summary is approximately $48 million. In additon: GSF Arctic III - Awarded a two-well contract in the U.K. sector of the North Sea at a dayrate of $410,000 ($48 million estimated backlog). The rig's prior dayrate was $339,000.
Transocean Inc. announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated. Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled Transocean Fleet Update, which is available through the company's website www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link
Transocean Inc. announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of May 1, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com.
The worldwide offshore rig demand declined since last week, according to Offshore Data Services' weekly mobile offshore rig count. While demand in the U.S. Gulf improved, European rig demand continues to suffer. In European waters, 74 offshore drilling rigs are under contract this week, a one-rig net decline from last week, and a 10-rig fall from two months ago. The 106-rig European offshore drilling fleet's utilization rate is 69.8 percent
ZUG, SWITZERLAND, Mar 17, 2011 (MARKETWIRE via COMTEX) -- Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that Steven L. Newman, President and Chief Executive Officer of the company, will address attendees at the Howard Weil Energy Conference in New Orleans, LA. Mr. Newman is scheduled to present on Monday, March 28, 2011 at 9:15 a.m., CT. A copy of the presentation materials will be available on the company's web site prior to the start of the discussion on March 28
Offshore drilling rig rates will continue to fall in the coming period and the rate spread between old and new equipment will continue to widen, Rune Lundetrae, the chief financial officer of offshore driller Seadrill said on Tuesday. "I think we will see day rates also for new equipment
Following a combined operation yesterday involving a range of government and private agencies, a Royal Australian Navy sailor is now resting in hospital in Broome, Western Australia, following a casualty evacuation operation in Australia’s far North West Shelf region.
Acteon company InterMoor completed decommissioning operations of the Innovator platform in the Gulf of Mexico’s Gomez field, Mississippi Canyon Block 711. Conducted in water depths of 910 meters, the scope of work involved disconnecting 10 risers/umbilicals; disconnecting 12 mooring lines
The ship's doctor on board a Norwegian research vessel in the Gulf of Mexico has been airlifted to hospital by a US Coastguard helicopter, and at the other end of the world, a sailor from an Australian warship remotely located off the country's far northwest coast also needed emergency medical
Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in
An offshore drilling platform, operated for Brazilian state-run oil company Petrobras , was partially evacuated after tilting on Friday, but there was no risk of it sinking, the company and the local oil workers' union said on Friday. Crew members were evacuated to another rig after the SS-53
Reuters - Transocean Ltd, owner of the world's largest offshore drilling fleet, said it could take up to 18-24 months for demand to recover as customers delay drilling programs. Demand for offshore rigs is tapering as major oil companies trim exploration and production budgets in the face of
Reuters - The U.S. offshore drilling regulator on Thursday laid out potential mitigation measures companies may need to take to carry out seismic testing off the Atlantic coast to gauge oil reserves. The measures were a part of the Bureau of Ocean Energy Management's final environmental review
Reuters - (The following statement was released by rating agency RPT-Fitch Solutions) Credit default swaps (CDS) on Diamond Offshore Drilling Inc. (Diamond) have widened 47% over the past month, according to Fitch Solutions. Diamond's CDS significantly underperformed the 3
Kongsberg Maritime has delivered its 50th HAIN (Hydro Acoustic aided Inertial Navigation) Reference System, to long-time HAIN user, Ocean Rig. HAIN significantly improves reference data accuracy and update rate sent to Dynamic Positioning (DP) systems to support safer
Greek-based drybulk & tankship owners DryShips and subsidiary offshore deepwater drilling service provider Ocean Rig announce unaudited financial and operating results for the fourth quarter, year ended 31, December 2013. DryShips Fourth Quarter 2013 Financial Highlights
Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured contracts to build three high-specification KFELS B Class jackup rigs worth about $650 million (USD) from new customer Fecon International Corp. (Fecon).
Siem Offshore Inc. say they have signed agreements with Helix Energy Solutions Group, Inc. to provide 2 well-intervention vessels which will be owned by Siem Offshore and chartered by Helix for an initial period of 7 years, with options that can extend the charter periods up to 22 years.
The Office of Management and Budget (OMB) completed its review of RIN 1625-AC10: the draft Coast Guard requirements for training of personnel and manning on mobile offshore drilling units (MODUs) and offshore supply vessels (OSVs) engaged in US outer continental shelf (OCS) activities.
In the company's financial report for the fourth quarter of 2103 Diamond Offshore Drilling announced that for the full year 2013 their net income of $549 million, or $3.95 per share, compared with net income of $720 million, or $5.18 per share, in 2012. Revenues for the full year 2013 were $2