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Offshore Drill

Bill Allowing Offshore Drilling Introduced in Congress

An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil development in Virginia waters. Unlike other recent drilling bills, however, the new legislation is limited to natural gas drilling - thereby keeping in place a federal ban on offshore drilling for oil. Oil drilling is often considered more environmentally threatening than gas drilling, although environmental activists have raised objections to both. As the price of natural gas reached record highs this winter, Congress has been considering various proposals to lift the federal moratorium and allow for gas and oil drilling. But opposition has been formidable, particularly from Florida lawmakers who fear oil spills on tourist-drawing beaches. (Source: Daily Press)


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


Is the Offshore Boom Back?

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation today reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for June 2003 was up 3.0% 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


GlobalSantaFe Worldwide September SCORE Up 1.7 Percent

SCORE ReportsWorldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for September 2006 increased 1.7% to 130.4 from the previous month's SCORE of 128.1. 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


GlobalSantaFe SCORE Improves

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2004 was up 3.6% 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


Latest Transocean Offshore Rig Status Report

Image courtesy of Transocean

Transocean's latest comprehensive Fleet Status Report provides the current status and contract information for the company's entire fleet of offshore drilling rigs. The total value of new contracts since the December 18, 2013 Fleet Update Summary is approximately $48 million. In additon: GSF Arctic III - Awarded a two-well contract in the U.K. sector of the North Sea at a dayrate of $410,000 ($48 million estimated backlog). The rig's prior dayrate was $339,000.


Offshore Rig Counts Mixed

The worldwide offshore rig demand declined since last week, according to Offshore Data Services' weekly mobile offshore rig count. While demand in the U.S. Gulf improved, European rig demand continues to suffer. In European waters, 74 offshore drilling rigs are under contract this week, a one-rig net decline from last week, and a 10-rig fall from two months ago. The 106-rig European offshore drilling fleet's utilization rate is 69.8 percent


Transocean Provides Update On Fleet Contract Status

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of May 1, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com.


Transocean Provides Update On Fleet Contract Status

Transocean Inc. announced that its report of drilling rig status and contract information covering the company's 140-unit offshore drilling fleet has been updated. Drilling rig status and contract information on the company's offshore drilling fleet has been condensed into a report titled Transocean Fleet Update, which is available through the company's website www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link


Offshore:Offshore SCORE Drops in November

GlobalSantaFe Corp. reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for November 2002 was down from the previous month's SCORE by 1.0 percent. GlobalSantaFe President and CEO Sted Garber said, "Worldwide SCORE was essentially flat in November. SCORE in the various international markets continues to fluctuate. The offshore drilling rig market will likely be in a holding pattern until operators' 2003 exploration and production budgets provide


Ship Systems and Equipment Meeting Underway

Photo: International Maritime Organization (IMO)

 The first set of international requirements for onboard lifting appliances and winches are expected to be finalized during this week’s meeting of the Sub-Committee on Ship Systems and Equipment (SSE).    The draft amendments to SOLAS as well as any necessary related


ABS, Industry Experts Tackle MODU Safety Issues

At its annual Special Committee Meeting, ABS shared recent enhancements to ABS jacking gear requirements, which address jackup system reliability. Photo: ABS

 ABS, the leading provider of classification and technical services to the offshore industry, collaborated with industry experts during its annual Special Committee Meeting held recently to discuss the ABS Rules for Building and Classing Mobile Offshore Drilling Units (MODUs)


iSURVEY Bags rig positioning, surveying contract with Shell

Andrew McMurtrie, managing director Photo iSURVEY

iSURVEY has secured a non exclusive call-off contract with Shell UK Ltd, Shell NAM, Norske Shell and Shell E&P Ireland for the provision of rig positioning and surveying services.   With an effective date of 1 January 2017, the three year contract, which has the option of up to two


Transocean's contract backlog $11.3 Bln on February 9

Ultra-Deepwater Rig Photo Transocean Ltd

Transocean Ltd. (NYSE: RIG) today issued a quarterly Fleet Status Report that provides the current status of and contract information for the company's fleet of offshore drilling rigs. As of February 9, 2017, the company's contract backlog was $11.3 billion.


Diamond Offshore Sees Recovery when Oil 'Well over $60'

Photo: Diamond Offshore Drilling Inc

Rig contractor Diamond Offshore Drilling Inc's Chief Executive Officer Marc Edwards said on Monday oil prices needed to be "well over $60" to spur a recovery in offshore drilling.   The company's shares reversed course and were down 2.3 percent at $16


Keppel Shuts Down Three Yards in Singapore

Photo: Keppel Offshore & Marine

 Keppel Corp, the world's biggest oil rig builder, is still hard hit by the downturn in the oil industry and will now shut down three yards in its homeland.   Singapore-based offshore company Keppel reduced its direct work force by about one third


Samsung Wins $1.26bln Contract from BP

Photo: Samsung Heavy Industries

 Samsung Heavy Industries, South Korea's major shipyard, build a floating production unit for British oil multinational BP that will be used in offshore drilling in the Gulf of Mexico, says a report in Yonhap.   The 1.5 trillion won ($1


Aramco Extends Seadrill Jack-up Deals

AOD1. Photo: Seadrill Limited

 Seadrill, a London-headquartered offshore drilling contractor, said that Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco.    The jack-ups AOD I and AOD II received three year contract extensions from Saudi Aramco


Obama's Arctic Ban and Aftermath

Photo courtesy: BP p.l.c.

 US President Barack Obama has permanently banned offshore oil and gas drilling in the "vast majority" of US-owned northern waters.   Vowing that his successor won’t be able to reverse his actions, President Obama on Tuesday used executive authority to permanently ban


Obama Bans New Drilling off Alaska, Part of Atlantic Shore

(Official White House Photo by Pete Souza)

U.S. President Barack Obama on Tuesday banned new oil and gas drilling in federal waters in the Atlantic and Arctic Oceans, in a push to leave his stamp on the environment before Republican Donald Trump takes office next month.   Obama used a 1950s-era law called the Outer Continental Shelf


Obama Looks to Block Arctic, Atlantic Drilling

file image: an offshore production platfom (CREDIT: James Fisher)

U.S. President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, Bloomberg reported, citing two people familiar with the decision. Obama's move, which could come as soon as today


Semi-submersible Rig Stena Don Hot Stacked

Photo: Semco Maritime

Stena Drilling has selected Semco Maritime’s facilities at Hanøytangen for a warm stacking of the offshore drilling rig Stena Don. The rig will be warm stacked at the Hanøytangen yard in Bergen, ready for future work, explains Business Development Manager Øistein


Tidewater Gets Waiver Extensions

Photo Tidewater

As previously reported, Tidewater Inc. (NYSE: TDW) has been in discussions with its principal lenders and noteholders to amend the company's various debt arrangements to obtain relief from certain covenants. Pending the resolution of those discussions


Op-Ed: Alaska's Golden Offshore Opportunity

Credit: Shell McCown

Offshore energy presents a golden opportunity for Alaska and the United States.   As we enter the final quarter of the year, one of the last and most pressing pieces of business facing the Interior Department is to finalize its next offshore leasing program


ABS Updates BWT Guidance

Kirsi Tikka (Photo: ABS)

ABS, a provider of classification and technical services to the marine and offshore industries, has updated the ABS Guide for Ballast Water Treatment to support industry in the design and installation of ballast water management solutions that meet both regulatory and operational requirements.






 
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