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
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
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
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
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
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
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
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
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
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
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
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
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
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, 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.
Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC) have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV.
DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors.
Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based leading provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy
Ocean Rig UDW Inc, the offshore drilling contractor, posted revenue of $452.6 million in the second-quarter, beating Wall Street forecasts. Three analysts surveyed by Zacks expected $385.7 million. The company has reported second-quarter profit of $155.6 million
DNV GL has welcomed the world’s largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered at Hyundai Heavy Industries in Ulsan, South Korea. Owned by the Houston-based drilling contractor Diamond Offshore
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