THE OFFSHORE DRILLING
The number of mobile offshore drilling rigs under contract is unchanged from last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S. Gulf of Mexico, 139 of 190 mobile offshore drilling rig are under contract this week. U.S. Gulf drilling fleet utilization is 73.2 percent. Among the working rigs is a new deepwater drillship, which has moved to its first drilling location. In the North Sea, Mediterranean Sea and other European waters, 77 of 107 mobile offshore drilling rigs are under contract. European offshore rig utilization stands at 72.0 percent. Worldwide, 472 of 631 existing mobile offshore drilling rigs are under contract. Worldwide offshore rig utilization is 74.8 percent. In addition to the 631 existing mobile offshore drilling rigs, another 37 are under construction, including 30 deepwater rigs.
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
Rig demand increased in the U.S. Gulf of Mexico and declined slightly in Europe, following a pattern that is likely to be repeated through the end of this year at least. According to Offshore Data Services' weekly mobile offshore rig count, the U.S. Gulf rig count increased by three rigs since last week. Today, 136 of the region's 187 mobile offshore drilling units are under contract and U.S. Gulf mobile offshore rig utilization is 72.7 percent.
The U.S. Gulf of Mexico offshore rig count lost some of the ground it had made up in the last few weeks, according to Offshore Data Services' weekly mobile offshore rig count. The U.S. Gulf offshore rig count fell by two rigs on a week-to-week basis. The decline ends a five-week rally of higher utilization rates in the region. This week, 133 of 188 mobile offshore drilling units in the U.S. Gulf are under contract. U.S. Gulf rig utilization is 70.7 percent.
Offshore rig activity changed little from last week, according to Offshore Data Services' weekly mobile offshore rig count. In the U.S. Gulf of Mexico, 145 of 191 mobile offshore drilling rigs are under contract this week, a one-rig decline compared to last week. U.S. Gulf drilling fleet utilization is 75.9 percent. In European waters, 74 of 107 mobile offshore drilling rigs are under contract this week, a one-rig increase compared to last week
Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for October 2003 was down 0.2% 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
Global Marine reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for April 2001 increased by 7.2 percent over the previous month's SCORE, marking the 20th consecutive month-to-month increase. Global Marine Chairman, President and CEO Bob Rose said, "April's SCORE reflects the continuing improvement in key international offshore drilling markets. As these markets begin to go head to head to attract equipment away from the Gulf of Mexico
GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for June 2006 was up 1.8 percent 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
The National Energy Board (NEB or the Board) released filing requirements today for future applications to drill in the Canadian Arctic Offshore. The Filing Requirements, a companion document to The Past is Always Present, Review of Offshore Drilling in the Canadian Arctic, Preparing for the Future, follows several months of extensive consultation carried out across the North during the NEB’s Arctic Review. During the Arctic Review
Diamond Offshore Drilling, Inc. informs it will issue its future fleet status reports each calendar quarter concurrent with the release of its quarterly earnings. Diamond Offshore has historically issued its fleet status reports on a monthly basis, but has decided to change to quarterly reporting to better protect sensitive customer and contract information in light of competitive dynamics in the offshore drilling industry, the company explained.
SEACOR Holdings Inc. has appointed William “Bill” C. Long as the company's Executive Vice President, Chief Legal Officer and Corporate Secretary, effective immediately. He will report directly to Charles Fabrikant, SEACOR's Executive Chairman and Chief Executive Officer.
Transocean, the world's leading offshore drilling contractor with 61 rigs in its fleet, has issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs.
Ensco Plc has concluded discussions with Petrobras regarding revised commercial terms with respect to some rig contracts. Ensco 6003 and Ensco 6004 had their contracts terminated effective May 1, 2016 by mutual agreement.
Russian shipbuilder Krasnye Barrikady has been awarded a near-$1 billion contract by Iran to build five offshore drilling rigs for use on Iran's part of the Gulf shelf, a company official told Reuters. The project, which was under discussion for almost two years
Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted by continued strong operational performance, fleet growth and general cost savings
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that two of its drilling contracts have been terminated. The Nasdaq-listed drilling affiliate of DryShips said that Total E&P Congo has terminated its long-term charter of the
SapuraKencana Petroleum Berhad's (“SapuraKencana”) presence in Brazil continues to grow after entering the market with its first pipelaying support vessel (“PLSV”), Sapura Diamante, on June 28, 2014. On 14 February 2016, its latest PLSV
Russian oil producer Rosneft's Vietnamese subsidiary has started drilling an exploration well off the south coast of Vietnam, it said on Wednesday. It is Rosneft's first individual international offshore drilling project as an operator, Russia's largest oil producer said in a statement.
BP Plc does not have to face U.S. lawsuits by energy and drilling companies over losses they suffered from an offshore drilling ban imposed soon after the 2010 Gulf of Mexico oil spill, a federal judge ruled. U.S. District Judge Carl Barbier in New Orleans agreed with BP that federal law
Nearly six years after the BP oil spill in the Gulf of Mexico, Hollywood takes its shot at recounting the tragedy with a film due this fall aiming to tell the story on the fatal blowout and its aftermath. The oil spill, one of the largest environmental disasters in global history
The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico. The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations
Italy went to the polls on Sunday for a referendum on off-shore oil and gas drilling rights, a complex issue that the government hopes voters will shun. For the ballot to be valid, more than 50 percent of the Italian electorate must vote and Prime Minister Matteo Renzi has urged people to stay
European Marine Engineering Award 2016 for Azipod D recognizes innovation and originality in auxiliary machinery Power and automation technology group ABB has won a European Marine Engineering Award, acknowledging the innovation behind the new Azipod D electric propulsion solution
Repair of Polyarnaya Zvezda and Severnoye Siyaniye, semi-submersible mobile offshore drilling units (MODU) of the sixth generation, has been completed under survey of Russian Maritime Register of Shipping (RS) at Yantai CIMC Raffles Offshore Shipyard Ltd. in Yantai, China. Mr
Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.