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THE OFFSHORE DRILLING

Offshore Rig Counts Unchanged

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.


Drilling Sector May Have Missed Chance For Consolidation

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


Offshore Rig Demand Rises In U.S., Falls In Europe

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.


Rig Counts Fall Since Last Week

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.


Little Change Seen In Offshore Rig Counts

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


GlobalSantaFe Worldwide SCORE Slightly Down

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 SCORE Up 7.2%

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 June SCORE Up 1.8 Percent

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


Canada Announces Arctic Offshore Drilling Rules

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 to Release Quarterly Fleet Status Report

Photo: Diamond Offshore

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.


Russian Shipbuilder Wins $1 bln Iran Oil Rig Deal

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


Hundreds of Scientists Urge Obama to Halt Arctic Oil Drilling

Photo Credit: NASA Goddard Space Flight Center

 Nearly 400 scientists from more than a dozen countries signed a letter urging U.S. President Barack Obama to take the Arctic Ocean out of the next federal offshore lease sale plan, thus ruling out the possibility of offshore drilling in the Arctic in the near future.  


Lloyd's Register Extends Drilling Rig Integrity Support

Exploration begins by BHP Billiton using the Deepwater Invictus rig and supported by Lloyd’s Register’s rig integrity team. Lloyd’s Register (LR) announced it has extended rig integrity support for the Deepwater Invictus drilling rig


Enclosed Space Safety Rule Enters into Force

 A new regulation aimed at protecting seafarers who need to enter enclosed spaces, by requiring ships to carry portable atmosphere testing equipment on board, enters into force on July 1, 2016.      Seafarers may be called upon to enter enclosed spaces on ships to manage or


Rosneft Starts Drilling First International Offshore Well

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 Escapes US Lawsuits Over Post-Gulf Spill Drilling Ban

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


Wahlberg Headlines Film on Deepwater Horizon Tragedy

Deepwater Horizon is due for release September 30, 2016 (Photo: Lionsgate)

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


Six Years after BP Spill, US Sets New Offshore Oil Safety Rules

Gas from the damaged Deepwater Horizon wellhead is burned by the drillship Discoverer Enterprise in May 2010, in a process known as flaring. (U.S. Coast Guard photo by Patrick Kelley)

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


Italians Go to polls for Drilling Referendum

Prime Minister Matteo Renzi Photo MatteoRenzi website

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


ABB Wins European Marine Engineering Award

Azipod D Photo ABB

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 Two Semi-submersible MODU Completed

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's Profit Nosedives

Photo: Keppel Corp

 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.  


Long Joins SEACOR Holdings as Executive VP

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 Provides Fleet Status Report

Photo: Transocean Ltd

 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 Lost 2 Petrobras Contracts

Image: Ensco Plc

 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.  






 
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