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)
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
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
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
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
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.
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
GlobalSantaFe Corporation 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
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 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
Six Greenpeace activists opposed to offshore drilling in the Arctic have abandoned a Seattle-bound drill rig they boarded in the Pacific Ocean six days ago. Rough seas prompted the decision, Greenpeace said. The protesters rappelled off the an oil rig leased by Royal Dutch
U.S. Coast Guard (USCG) crews escorted heavy lift ship Blue Marlin as it toted a controversial 38,000-metric-ton drilling rig into Port Angeles, Wash., Friday. Blue Marlin, Dockwise’s 674-foot semi-submersible heavy lift ship, was escorted into its anchorage location in Port Angeles while
North Atlantic Drilling (NADL), a subsidiary of Seadrill, will delay the closing of a deal with Russia's Rosneft by two years and has agreed to renegotiate the terms of the agreement, reports Reuters. NADL will also be permitted to delay the construction, delivery
ABB has released details on its latest generation Azipod thruster, a unit which ranges in power from 1.6 megawatts to 7 megawatts (MW) and is intended to serve a growing electric propulsion market. (According to Clarkson’s Research, the number of vessels with electric propulsion has been
Rig contractor Diamond Offshore Drilling Inc said it expected a significant number of ultra-deepwater rigs to be idled across the industry by year-end as oil producers' capital budget is likely to be lowered by a fifth this year. The company also said it would not pay a special dividend
N-Sea has launched its third diving support vessel, the Edradour, representing a $2.2 million investment for the company to be immediately utilized in its inspection, maintenance and repair (IMR) operations in the North Sea, as well as in Holland and Germany.
UL/ULC and ATEX Approved LVDT Position Sensors for Worldwide Operation in Offshore Drilling Markets. Macro Sensors offers the HLR 750 Series of UL/ULC listed and ATEX-approved LVDT Linear Position Sensors for use in the high temperature and high vibration environments such as offshore
Maersk has signed a five year contract with BP to provide offshore oil rig training at the virtual reality training center the company is currently building in Houston, the companies announced today. Maersk Training will provide BP with advanced training programs for offshore drilling teams at
Transocean Ltd shares are expected to move about 8 percent in either direction following its earnings results on Wednesday, options data showed, but positioning among traders suggests some worry. This would be the biggest post-earnings move for the shares in at least eight quarters.
ABB unveils newest Azipod thruster to growing electric propulsion market Power and automation technology group ABB has introduced Azipod D, a new addition to its line of Azipod electric propulsion offering, allowing a wider range of vessel types to utilize the Azipod propulsion
Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices. Offshore drilling company Ensco said it had received notice to terminate BP-operated rig DS-4 in the Gulf of Mexico
Six Greenpeace activists boarded a Shell oil drilling ship in the middle of the Pacific Ocean and vowed to stay there to protest the company's plans to drill above the Arctic Circle, the environmental organization said. They boarded as the drill rig was transported across the
Owners of tank barges eye November 15, 2015 with trepidation, as by then they must ensure that tank barge power units meet USCG Class 1, Division 1 requirements for non-sparking machinery in a hazardous environment. Laborde Products – with the “mechanical advantage of the
Drydocks World informs it has completed a refurbishment project on the National Drilling Company’s (NDC) offshore drilling Rig Beynouna. Drydocks World’s rig services and offshore project management methodology turned around the major repair on Rig Beynouna ahead of schedule