Drilling News

Esgian provides an update on rig activity and discoveries in its Week 28 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesThe Norwegian Ocean Industry Authority (Havtil) has given Equinor consent for exploration drilling in blocks 32/4 and 32/7 in the North Sea.Operator LLOG Exploration Company is currently drilling its fifth well at the Buckskin field in the US GOM.Equinor and its partners Petoro, Vår Energi, and TotalEnergies started production from…

The Middle East Gulf offshore market continues to exhibit strong growth in contract awards, even as it adjusts to the decision by Saudi NOC Aramco to suspend contracts for over 20 jack-up rigs.The Gulf region continues to contribute strongly to contract volumes in 2024. MSI tracked circa $50bn of contract awards during the first half of 2024, a rate which if continued will see 2024 capex spend outstrip levels seen in 2022 and 2023. The Middle East Gulf and South and Central America dominated awards accounting for about 55% and 30% of awards…

Esgian provides an update on the current lull in contracting in its Week 27 Rig Analytics Market Roundup.Report SummaryContractsAban Offshore-owned 250-ft jackup Aban II has received a letter of award (LOA) from Oil India for an offshore work program in Andhra Pradesh, India.Shelf Drilling North Sea has secured a new 17-month contract for the 400-ft Shelf Drilling Winner (previously known as Noble Sam Turner) jackup rig with TotalEnergies EP Denmark.Drilling Activity and DiscoveriesThe…

Esgian provides an update on drilling activity in its Week 26 Rig Analytics Market Roundup.Report SummaryContractsVentura Offshore has been granted exclusive marketing rights from Hanwha Drilling LLC for the newbuild 12,000-ft 7th generation drillship, Tidal Action, for an ongoing tender process in Brazil.Transocean has announced a 365-day contract extension for the 12,000-ft drillship Deepwater Asgard with an independent operator in the U.S. Gulf of Mexico.Northern Ocean Ltd.-owned 7…

Esgian provides an update on exploration drilling in its Week 25 Rig Analytics Market Roundup.Report SummaryDrilling Activity and DiscoveriesOslo-listed BlueNord announced on Monday the start-up of drilling operations on the Harald East Middle Jurassic well (HEMJ) in the Danish North Sea.Occidental Petroleum (Oxy) encountered non-commercial hydrocarbons at the Orange #1 exploration well on Mississippi Canyon Block 216 in the US GOM and the well has been plugged and abandoned.

The head of Brazil's environmental agency said on Wednesday that he expects a decision soon on state-owned oil company Petrobras' request to conduct exploratory studies in a region known as the Equatorial Margin, as both the company and the government push for a drilling license.Petrobras has been seeking to explore the northernmost part of the Equatorial Margin, near the mouth of the Amazon River, but got a red light from environment watchdog Ibama in May of last year due to concerns over the possible impact on Indigenous communities and the environment.

Esgian provides an update on Noble and Diamond Offshore’s announcement of merger plans in its Week 24 Rig Analytics Market Roundup.Report SummaryContractsADES has completed the signing of a drilling contract for a jackup with Suez Oil Company (SUCO) in Egypt.Mergers & AcquisitionsNoble Corporation and Diamond Offshore Drilling have entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash transaction. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble…

Noble Corporation has entered into a definitive agreement to acquire Diamond Offshore, creating a fleet of 41 rigs - including 28 floaters and 13 jack-ups, and a combined backlog of approximately $6.5 billion.Noble will acquire Diamond in a stock plus cash transaction, whereby Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock, representing an 11.4% premium to closing stock prices on June 7, 2024.Noble intends to fund the cash portion of the transaction through new debt financing…

Esgian provides an update on semisub activities in Norway and Australia in its Week 23 Rig Analytics Market Roundup.Report SummaryContractsTransocean has announced contract fixtures for three harsh environment (HE) semisubmersibles. Together, the fixtures represent approximately $161 million in firm contract backlog.Shelf Drilling has secured a 15-month award for the 357-ft jackup Shelf Drilling Tenacious for drilling operations offshore West Africa.Murphy Oil Corporation has exercised an option to extend the contract for the 12…

Esgian provides an update on rig sales and the shrinking pool of vintage semisubs in its Week 22 Rig Analytics Market Roundup.Report SummaryContractsNoble Corporation has secured a new well intervention contract with Harbour Energy in UK waters of the North Sea for the 350-ft jackup Noble Resilient.Drilling Activity and DiscoveriesThe recently drilled offshore production well at the Kupe oil and gas field in New Zealand is underperforming despite a recent wireline well intervention.BW…

Esgian provides an update on new commitments confirmed for Odfjell Drilling and Borr Drilling rigs and new tender opportunities emerging in Africa in its Week 21 Rig Analytics Market Roundup.Report SummaryContractsEquinor has exercised an option to extend the use of Odfjell Drilling’s 10,000-ft Deepsea Aberdeen for a batch of eight wells on the Norwegian Continental Shelf. With this, Odfjell Drilling’s owned fleet of four semisubs has a firm backlog until at least mid-2026.Borr Drilling has confirmed new work for its 400-ft jackup Prospector 1 in the UK and the Netherlands…

Esgian provides an update on Saudi suspensions in its Week 20 Rig Analytics Market Roundup.Report SummaryContractsDrilling contractor Arabian Drilling confirmed that the suspension of three contracts for its jackups with Saudi Aramco have yet to be finalised but are expected to take effect towards the end of the third quarter of 2024. CEO Ghassan Mirdad stated that the company is actively exploring opportunities to redeploy these rigs with other clients. Arabian Drilling announced…

Esgian reports another busy week filled with a variety of updates, including new offshore acreage offered in the UK, Norway and Nigeria, in its Week 19 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a direct award of a contract from Suez Oil Company (SUCO) in Egypt. The SUCO award in Egypt’s Gulf of Suez is for a firm 21-month term expected to start in the coming weeks.Noble 492-ft jackup Noble Innovator has been awarded a one-well extension with bp in UK waters at a dayrate of $145…

A Valaris jack-up drilling rig is using an AI-enabled intelligent detection and tracking solution to provide automated person overboard detection and alerts, marking the first time the cutting-edge technology has been deployed in the offshore oil and gas sector.Zelim's ZOE software was installed on board the Valaris Stavanger in February after the Edinburgh-based technology company worked with the drilling contractor to customize the solution for the specific requirements of jack-up vessels.

Esgian reports an eventful week with contract confirmations, terminations and suspensions in its Week 18 Rig Analytics Market Roundup.Report SummaryContractsBurullus Gas Company, the self-operated joint venture between Shell Egypt, the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC) and Petronas, has agreed to move forward with the development of Phase 11 in Egypt's Nile Delta in the Mediterranean Sea.QatarEnergy has exercised a one-year option for Borr Drilling 400-ft jackup Groa…

As Big Oil returns this week to the industry's annual showcase for offshore energy projects and equipment in Houston, deepwater discoveries off Guyana, Namibia and the U.S. Gulf Coast will take the spotlight.Offshore exploration had dimmed after the U.S. shale boom ushered in new and cheaper-to-tap supplies of oil, and as past offshore cost overruns pushed deepwater projects onto the industry's backburner.Newer deepwater projects have the attributes oil and gas companies are looking for: longer-term production…

Esgian reports that new drilling contracts have been announced in the North Sea and West Africa in its Week 17 Rig Analytics Market Roundup.Report SummaryContractsShelf Drilling (North Sea) has secured a letter of award with an unnamed operator, believed to be TotalEnergies, for the 400-ft jackup Shelf Drilling Fortress for a campaign in the North Sea.Noble 12,000-ft 7th generation drillship Noble Venturer has secured new contracts in West Africa with Trident Energy and Rhino Resources…

Esgian reports on the many rig movements that occurred last week in its Week 16 Rig Analytics Market Roundup.Report SummaryContractsADES Holding Company has received a letter of award from an international oil company for a one-year firm drilling contract for a jackup offshore Qatar.TotalEnergies has exercised a three-well option for Transocean 12,000-ft drillship Deepwater Skyros offshore Angola at a rate of $400,000, keeping the rig working into December 2025.After initially beginning a short-term job in the US GOM in January 2024…

Esgian reports on new contracts for Borr Drilling and Shelf Drilling (North Sea) jackups in its Week 15 Rig Analytics Market Roundup. Additionally, Energean has selected a drillship for its upcoming drilling campaign offshore Morocco. South America remains vital to the floating rig market, with ExxonMobil moving ahead on a sixth development on the prolific Stabroek block offshore Guyana and Petrobras reporting a new discovery in Brazil's Potiguar Basin.Report Outline:ContractsBorr Drilling has announced new contract commitments for three of its premium jackup rigs…

Esgian reports various drilling contractors disclosing details of discussions with Saudi Aramco regarding jackup contract suspensions in its Week 14 Rig Analytics Market Roundup. These contractors include Shelf Drilling, ADES, Borr Drilling, Arabian Drilling, COSL, and ARO Drilling.Meanwhile, Transocean, Noble, and COSL rigs have firmed up new work in the US Gulf of Mexico, Suriname, and the North Sea, respectively.Report overview:ContractsShelf Drilling has received a notice of suspension of operations on four jackup rigs from a customer in the Middle East.

Esgian reports shifts in demand in its Week 13 Rig Analytics Market Roundup.Report overview:ContractsADES has received a Letter of Intent (LOI) from PTTEP Energy Development Company Limited for an 18-month jackup drilling contract in the Gulf of Thailand. Operations are expected to begin in the second half of 2024, with an unspecified jackup.Drilling Activity and DiscoveriesThe Norwegian Offshore Directorate (NOD) has granted Aker BP a drilling permit for an exploration well in…

Esgian reports fresh finds confirmed in Guyana, China and Norway in its Week 12 Rig Analytics Market Roundup.Report Outline:ContractsDolphin Drilling has announced the award of a $154 million drilling contract from India's exploration and production company, Oil India Limited (Oil India), to the 6,000-ft semisub Blackford Dolphin.Malaysian offshore drilling firm Velesto confirmed Friday it had recently secured long-term contract extensions for three of its jackup rigs with Petronas Carigali…

Esgian reports that drilling contracts have been announced this week for operations in Brazil and the Philippines, and new discoveries have been confirmed in the UK and Namibia in its Week 11 Rig Analytics Market Roundup.ContractsCOSL Drilling has emerged as the winner for Petrobras' moored semisubmersible tender with the 4,600-ft Nanhai 8 (also known as Nan Hai Ba Hao).Noble has secured a high-dayrate drillship contract with Prime Energy in the Philippines.Drilling Activity and…