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Offshore Rig

Offshore Rig Utilization Hits 2-Year High

Worldwide offshore rig utilization hit a fresh two-year high the week ending March 23, according to ODS-Petrodata Group. Global rig utilization climbed 0.5 percent to 88 percent, due to a three-rig net increase in contracted rigs, ODS-Petrodata reported. Of the world's 649 offshore rigs, 571 are under contract. Utilization is the highest since October 2, 1998 when it reached 88.7 percent. U.S. Gulf rig utilization remained unchanged at 88.1 percent, with 185 out of the region's 210 mobile offshore rigs under contract. European offshore rig utilization remained unchanged at 92.1 percent, with 93 of the region's 101 mobile offshore rigs under contract.


U.S. Gulf rig utilization still climbing

U.S. Gulf rig utilization still climbing U.S. Gulf and worldwide offshore rig demand increased again this week, according to Offshore Data Services' weekly mobile offshore rig count. Offshore rig utilization in the U.S. Gulf is at 85.5 percent. U.S. Gulf rig utilization has not been this high since August 1998. This week the number of rigs under contract rose to 177; only 30 of the region's 207 rigs are available.


Offshore Rig Utilization Is Up

Worldwide offshore rig utilization rose this week due to increased drilling rig demand in Europe and the U.S. Gulf of Mexico, according to Offshore Data Services (ODS). The European offshore rig count increased by three rigs, with 92 of the 101 rigs in the region under contract, boosting utilization to 91.1 percent, ODS said. The number of rigs being used in the U.S. Gulf of Mexico remained rose by two to 182 under contract out of 210, putting utilization at 86.7 percent


Rig Utilization Up In GOM

Worldwide offshore rig utilization fell slightly during the week ending January 12, but ticked higher in the U.S. Gulf, according to Offshore Data Services (ODS). The number of worldwide mobile offshore drilling rigs under contract fell by one to 556 of the world's 648. Worldwide offshore rig utilization fell to 85.8 percent. The number of rigs being used in the U.S. Gulf of Mexico fell to 179 under contract out of 208, with utilization down to 86.1 percent


Viking Strengthens Partnership with Lobby Marine Veteran

Viking Offshore & Marine Limited has announced it would participate in the ownership of a second cantilever drilling jack-up rig, further strengthening its partnership with Singapore rig veteran, Chan Kwan Bian as it accelerates its entry into mainstream offshore rig chartering.   SGX Catalist-listed Viking said its wholly-owned Viking Asset Management Pte. Ltd. (VAM) will invest US$5.4 million to take a 30%-stake in Quick Booms Investments Limited (“QBI”)


GlobalSantaFe SCORE Shows Improvement

Houston-based worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for July 2002 was up from the previous month's SCORE by 1.7 percent. GlobalSantaFe President and CEO Sted Garber said, "This month's SCORE showed real improvement in the Gulf of Mexico offshore rig market during July, as the supply for certain classes of jackup rigs in this region tightened and drove dayrates higher


GlobalSantaFe Reports 1Q Results

GlobalSantaFe Corporation reported net income for the quarter ended March 31, 2002, of $77.1 million, or $0.33 per diluted share, on revenues of $464.0 million. This compares to net income of $40.7 million, or $0.34 per diluted share, on revenues of $274.8 million for the quarter ended March 31, 2001. The 2001 financial results reflect only historical Global Marine, prior to the merger that formed GlobaSantaFe, so some comparisons to these results may not be meaningful.


SembCorp Completes Rig Job

SembCorp Industries reported that its engineering and shipyard units have jointly completed the fabrication and assembly of an offshore rig for Woodside Energy of Australia. The vessel - Northern Endeavour - is owned by Woodside Energy of Australia, Shell Development (Australia) and BHP Petroleum. The barge type steel hull vessel has an oil storage capacity of 1.4 million barrels and was scheduled to start production in October.


GlobalSantaFe West Africa and Southeast Asia SCORE Show Improvements

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for March 2003 was flat with 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's Worldwide SCORE Supported By International Areas

Houston-based offshore drilling contractor GlobalSantaFe today reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for November 2001 was essentially level with the previous month's SCORE. GlobalSantaFe President and CEO Sted Garber said, "The worldwide SCORE remained stable in November, in spite of oil price uncertainties and continued weakness in the Gulf of Mexico. The prevalence of longer drilling programs and robust utilization continued to


Pile Testing for Wikinger Wind Farm Launched

Template recovery following successful piling

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.     German engineering and services group Bilfinger was awarded the test pile


W&O Actuated Valve Solution for Vigorous

W&O

W&O is one of the partners that supported Vigor in the $40m project to build and deliver the largest floating drydock in the U.S. – Vigor Industrial’s Vigorous –  which was delivered recently to its new home in Portland on the Willamette River


As Oil Prices Drop, Rigs Go Off-Line

Photo courtesy of Transocean

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market. The drilling contractor's shares rose as much as 3 percent in early trading after the


Offshore Oil Drilling Market to Suffer through 2015

Photo: Seadrill

A sluggish offshore drilling market could deteriorate further next year due to weak demand and a flood of new vessels, even though a few places such as Mexico and Brazil remain promising for exploration, industry executives said on Wednesday.


Hall Joins Bouchard Transportation

Brian Hall

Retired Active Duty Coast Guard Commanding Officer Brian Hall has joined Bouchard Transportation Co., Inc., the nation’s largest independently-owned oceangoing petroleum barge company, as Southern Port Captain / Vetting Manager. Hall brings with him more than 25 years of experience in marine


GDI Awards N-KOM US$110-M Contracts

GDI N-KOM contract principals: Photo courtesy of N-KOM

Gulf Drilling International (GDI) Limited, a subsidiary of Gulf International Services (GIS), the largest oilfield service company in Qatar, has awarded two contracts worth US110 million to Nakilat-Keppel Offshore & Marine (N-KOM), a joint venture shipyard between Nakilat and Singapore’s


Semco and PV Join Forces for Rig Upgrade

New Office

  Semco Maritime and PetroVietnam Marine Shipyard join forces to establish high class rig upgrade player in South East Asia - Vung Tau Rig Services. The initiative shall tap into the growing market for rig upgrades in the region. Semco Maritime opens new office at the PetroVietnam Marine


Exxon Oil Rig Enters Uncharted Waters of Russian Political Storm

An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise, attracting international scrutiny and creating a dilemma for Exxon Mobil Corp. Exxon, the top U.S. oil major and the world's most valued oil company, is bringing the rig


Exxon Rig Enters Uncharted Waters of Russian Political Storm

U.S. sanctions on Russia include Rosneft, Exxon's partner: Project may not break sanctions, but brings political risks. An ordinary, long-scheduled journey of an oil drilling rig into Arctic waters is turning into a major political exercise


PPG Launches High-temperature Coating

PPG Industries’ protective and marine coatings (PMC) business has launched PPG HI-TEMP 222G high-temperature coating that protects substrates from corrosion under insulation (CUI) and can be applied directly to hot surfaces up to 400 F


Songa Offshore: Fleet Disposition Update

Songa Venus: Image Songa

Norwegian offshore rig owners, Songa Offshore, releases its May 2014 fleet update as follows: Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 99% during the month working for Statoil in Norway. Songa Delta achieved an operational efficiency of 100%


Greenpeace sends protest ship as first Russian Arctic oil arrives

Rainbow Warrior

  Greenpeace International has sent out a ship 'Rainbow Warrior'on Monday to confront the Russian Oil tanker bringing the first oil produced at a new Russian offshore platform in the Arctic Circle to Rotterdam. The oil was drilled at the Prirazlomnaya platform


National Oilwell Expects Offshore Rig Demand to Slow

courtesy of National Oilwell Varco

National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders fell by nearly a quarter in the first quarter and it expects demand for new offshore rigs to slow during the second half of the year. The company's shares fell about 7 percent.


Diamond Offshore Shares on the Rise

Photo courtesy Diamond Offshore

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a better-than-expected quarterly profit as it cut drilling costs and hiked prices, sending its shares up as much as 10.5 percent. The company - owned 50


Diamond Offshore profit falls as rig demand softens

Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 17 percent drop in quarterly profit as demand fell for rigs used in deep water drilling. Contract drillers face a tough year as vessels ordered during boom times are delivered just as energy






 
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