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.
The principal difficulty for Arctic offshore drilling right now, according to oil industry think tank, is economic. The companies may be back for another try at Arctic offshore drilling, in U.S. waters or elsewhere, if economic conditions change, reports AP.
COSCO Corp (Singapore) will refund $26.3 million, or 5 percent of the contract price, plus associated interest to Sevan Drilling by December 1, 2015. Sevan Drilling and Cosco have agreed to exercise the first six-month option to extend the deferral agreement to April 15, 2016
Paragon Offshore plc, a global provider of offshore drilling rigs, reported that a wholly-owned subsidiary has signed an agreement with Shanghai Waigaoqiao Shipbuilding Co., LTD., to extend the delivery date of the high specification Friede and Goldman JU-2000E jackup Prospector 7 to a date
The fleet Italian oil contractor Saipem uses to carry out its offshore construction and drilling business has been properly certified and there is no risk of any Volkswagen-like scandal, the CEO said on Tuesday. Italy's anti-establishment 5-Star Movement, the country's second-biggest party
Ten environmental groups say a missing icebreaker should be a deal-breaker for Arctic offshore drilling by Royal Dutch Shell PLC off Alaska's northwest coast and urged the U.S. government not to grant final permits to Shell, reports Reuters and AP.
DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, announced the following: It has reached an agreement with Ocean Rig UDW Inc
North American Marine Environment Protection Association (NAMEPA) is set to present “Safety in the Arctic”, a seminar addressing topics of preparedness, prevention and protection specific to the Arctic waters. The event will take place at the Hotel Captain Cook on August 13
Shipping company Clarksons has published profits of GBP6.2mln, down 36.7 per cent on the first six months of the previous year, citing “severe challenges faced by the dry bulk market” (of unpackaged raw commodities) as the primary cause of the decline.
Inchcape Shipping Services (ISS) has been appointed by Paragon Offshore, Houston, as marine and logistic services provider for a new drilling campaign off the Songo Songo Islands, Tanzania – the first new commercial drilling project in Tanzania in a number of years.
United States' President Barack Obama defends his decision to allow Royal Dutch Shell to drill for oil in the Arctic Ocean. He insisted that there was no contradiction between his climate change agenda and Arctic drilling.
Offshore drilling company Seadrill Limited said it has exercised its right to cancel the contract for the construction of the West Mira drilling unit following builder Hyundai Heavy Industries Co Ltd.’s inability to complete the project on deadline.
National Ocean Industries Association (NOIA) President Randall Luthi today issued the following statement regarding Shell’s decision to halt exploration activities offshore Alaska: “NOIA commends Shell’s efforts in the Chukchi Sea and recognizes the great expense
A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington. First introduced in 2010, the West Coast Ocean Protection Act
Intellian, a global leader in satellite communication antenna systems, has been successfully selected as the hardware partner on RigNet’s recently announced contract to provide remote communications solutions to a premium offshore driller across its entire global fleet of existing
The Obama administration has taken steps to keep drill rigs out of Alaska's northern ocean for a decade or more. The sudden of turnabouts is attributed to slowing down of economy. The U.S. Department of Interior announced that it is canceling two lease sales and will not extend current leases for