Wednesday, December 11, 2019

Transocean News

Offshore: OSV Market Report

Photo courtesy Ulstein Group/Marius Beck Dahle

The environment in oil patches onshore and offshore alike has been challenging throughout 2019; worries about an economic slowdown – whether cyclical or induced by a trade war – have weighed heavily on oil prices, even…

Hurricane Energy Spuds Lincoln Crestal

Image: Hurricane Energy

UK-based oil exploration and production company Hurricane Energy said it has spudded the second of three wells on the Greater Warwick Area in the UK North Sea.Well 205/26b-B well, or Lincoln Crestal, was was spudded…

Saipem Push with US Drillers Draws a Blank

(File photo: Saipem)

Italian oil services company Saipem is trying to lure big U.S.

Wellesley Hits Dry Well in North Sea

Image: Transocean

Norwegian oil and gas exploration company Wellesley Petroleum has drilled another dry well in the Norwegian section of the North Sea, 220 kilometers northwest of Stavanger.The explorer for oil and gas sees second dry…

Transocean: Ultra-deepwater Drilling Rates Could Double

© xmentoys / Adobe Stock

Rates for hiring offshore rigs to drill in ultra deepwaters such as the U.S. Gulf of Mexico could double over the next couple of years as the market recovers, the head of the world's largest offshore driller by market…

Maersk Drilling Mulls Listing in Recovering Market

File Image: CREDIT Maersk Drilling

Drilling rig contractor Maersk Drilling, which will soon list on the Copenhagen stock exchange, said the offshore drilling market is improving as oil firms generate more cash and look to boost reserves.A fall in oil prices…

OPITO Appoints Director to Support Global Operations

 Stuart Clow (Photo: OPITO)

OPITO has appointed Stuart Clow as Director with a remit focused on supporting industry safety through high-quality training and competency standards.Clow has over 30 years’ experience in the oil and gas industry in a…

Brasse Wells Disappoints Faroe Petroleum

Brasse Exploration well. Image: Faroe Petroleum

Faroe Petroleum has failed to find hydrocarbons at its Brasse East exploration well in the Norwegian North Sea, while the Brasse appraisal sidetrack well encountered hydrocarbons.The Aberdeen-headquartered firm said that…

Transocean: $830M Drilling Contract for Ultra Deepwater Drillship

While the late 2018 oil price swoon has put a damper on an otherwise positive year for offshore energy markets, Transocean Ltd. (NYSE: RIG) ends the year on a positive, signing a construction management contract, as well…

Faroe Petroleum Spuds Well off Norway Coast

Image: Faroe Petroleum

Aberdeen-headquartered Faroe Petroleum has started drilling the Brasse East exploration well off the coast of Norway.The oil and gas company focusing principally on exploration, appraisal and production opportunities…

Offshore Drillers Eye Recovery by 2020

© namning / Adobe Stock

Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a…

Transocean Norge to Drill for Equinor

Photo courtesy of Equinor

Equinor has awarded Transocean a contract for drilling six wells on the Norwegian continental shelf (NCS) by use of the Transocean Norge mobile rig. Drilling start-up is scheduled for the summer of 2019.The rig has also…

Fugro Secures E&P Support Contracts

Photo: Fugro

Fugro has won three contracts with BHP Petroleum (Deepwater) Inc., which see the company delivering a range of specialist services to support exploration and production operations in Trinidad and Tobago and the Gulf of…

Transocean Signs 11 Well Contract with Chevron Australia

Photo: Transocean

The international provider of offshore contract drilling services for oil and gas wells Transocean announced that the ultra-deepwater semisubmersible GSF Development Driller I was awarded an 11-well contract (approximately…

Transocean to Buy Ocean Rig in $2.7 bln Deal

Drilling rig contractor Transocean Ltd said on Tuesday it would acquire peer Ocean Rig UDW Inc in a cash-and-stock deal valued at about $2.7 billion, including debt.The deal will help Switzerland-based Transocean enhance its fleet of ultra-deepwater and harsh environmen

Hundreds of Norway Oil Workers Go On Strike

Photo courtesy of Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One…

Hundreds of Oil Workers Strike in Norway

Photo: Harald Pettersen / © Equinor

Hundreds of workers on Norwegian offshore oil and gas rigs went on strike on Tuesday after rejecting a proposed wage deal, leading to the shutdown of one Shell-operated field and helping send Brent crude prices higher.One…

No Contact Yet Between Parties in Norway Oil Strike

© corepics / Adobe Stock

A Norwegian union representing striking oil workers and employers' representatives were not talking to each other as of Thursday, days before a possible escalation of the industrial action.Hundreds of workers on Norwegian…

Transocean to Buy Ocean Rig in $2.7 Bln Deal

© Eugenio Roqueñi / MarineTraffic.com

Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The…

Transocean Eyes Improved Day Rates, Contract in Late 2019

Photo:  Transocean

Offshore driller Transocean expects rates to lease drilling rigs to improve and contracting activity to pick up in late 2019, an outlook that drove its decision for the recently announced $2.7 billion purchase of rival Ocean Rig, Chief Executive Officer Jeremy Thigpen s