Marine link
 

Rig Utilization

Woldwide Offshore Rig Utilization Plummets

Offshore rig utilization fell in the world's most active markets during the week ending July 6, according to ODS-Petrodata Group. U.S. Gulf of Mexico rig utilization dropped 1.5 percent to 85.8 percent this week, with 182 rigs under contract out of a total of 212. European rig utilization fell 1.0 percent to 95.1 percent this week with 97 of the region's 102 rigs under contract, according to ODS, while worldwide rig utilization fell 0.7 percent to 89.0 percent with 580 out of 652 worldwide rigs under contract.


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


Offshore Rig Report

Offshore Rig Counts Increase The U.S. and European offshore rig counts increased since last week, according to Offshore Data Services' weekly mobile offshore rig count. In addition, one new rig joined the worldwide drilling fleet. The U.S. Gulf of Mexico rig count posted a net three-rig increase over last week. With 149 of the area's 195 mobile offshore drilling rigs now under contract, U.S. Gulf offshore rig utilization is 76.4 percent.


Offshore Rig Utilization Declines Slightly

Worldwide offshore rig utilization declined slightly since last week, according to Offshore Data Services' weekly mobile offshore rig count. Two less mobile offshore drilling rigs are under contract worldwide this week compared to last week. With 484 of the world's 634 offshore drilling rigs now under contract, worldwide offshore rig utilization is 76.3 percent. A one-rig decline in the U.S. Gulf of Mexico rig count occurred since last week


U.S. Offshore Rig Count Hits 17-Month High

The U.S. Gulf of Mexico rig count stands at 150 this week, its highest level since July of 1998. According to Offshore Data Services' weekly mobile offshore rig count, 150 of the 191 offshore rigs in the U.S. Gulf of Mexico are under contract this week. U.S. Gulf mobile offshore rig utilization is 78.5 percent. The improved rig count has been driven primarily by strong domestic natural gas prices, however, natural gas prices have weakened in recent weeks


Offshore Rig Use Up

Worldwide offshore rig utilization climbed slightly the week ending March 9, according to ODS-Petrodata Group. Global rig utilization climbed 0.1 percent to 87.4percent, due to a one-rig net increase in contracted rigs, ODS reported. U.S. Gulf rig utilization was unchanged at 88.2 percent, with 186 out of the region's 211 mobile offshore rigs under contract. European offshore rig utilization decreased by 0.1 percent to 92


U.S. Offshore Rig Demand Continues To Rise

The U.S. Gulf of Mexico offshore rig count is at its highest level in nearly a year, according to Offshore Data Services' weekly mobile offshore rig count. A four-rig increase in the U.S. Gulf rig count over last week boosted the count to 140, the highest level since October 16 of last year. The 187-rig U.S. Gulf drilling fleet's utilization rate is now 74.9 percent. As utilization approaches and then exceeds 80 percent, rig owners should benefit in the form of improving rig day rates.


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.


Rowan Profits Jump in 3Q

Rowan Companies, Inc. said profit in the third quarter jumped 50% on overseas demand for its offshore oil rigs and drilling services. The Houston drilling contractor and equipment maker said profit in the three months ended Sept. 30 rose to $130.8m, or $1.16 a share, from $87m, or 78 cents a share, in the year-earlier period. Profit in the most recent quarter included a penny a share in gains on asset sales. Revenue rose 20% to $502.2m, short of the $530m anticipated by Wall Street.


Rowan Revises 3Q Business Outlook

With softness in the Gulf of Mexico and the U.S. apparently on the brink of war, Bob Palmer, Chairman and CEO of Rowan, said, "July earnings were better than expected and, through August, financial results were about as forecast. However, the outlook for September requires that we revise downward our 'best guess' for third quarter earnings to a range of 20-25 cents per share. "Rowan's offshore rig utilization for the third quarter is currently estimated to be 70%


Seadrill Q3 2013 Profit Slips Marginally

Drillship: Image courtesy of Seadrill

In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter.


Noble Reports 2013 Results

Noble Don Taylor

Noble Corporation has reported fourth quarter 2013 net income of $174 million, or $0.68 per diluted share. Results for the fourth quarter included an after tax charge of $36 million, or $0.14 per diluted share, relating to an impairment taken on the FPSO Seillean


Transocean Profit Slides on Lower Rig Demand

Image courtesy of Transocean

Reuters – Transocean Ltd, owner of the world's largest offshore drilling fleet, said on Wednesday that fourth-quarter profit fell 49 percent from a year ago, hurt by lower rig utilization. The company's net profit attributable to controlling interest fell to $233 million


Transocean Estimates 18-24 Months to Recovery

Reuters - Transocean Ltd, owner of the world's largest offshore drilling fleet, said it could take up to 18-24 months for demand to recover as customers delay drilling programs. Demand for offshore rigs is tapering as major oil companies trim exploration and production budgets in the face of


Report: 103 to 130 Floating Production Systems Over Next 5 Years

A new study by IMA calls for a major ramp up in orders for floating production systems over the next five years. The 125 page report issued in March provides a detailed forecast of the number of FPSOs, TLPs, Semis, Spars and FSOs needed through 2010 to satisfy increasing development of deepwater


Gulf Capital Acquires Stake in Maritime Industrial Services Co.

According to Rigzone, Gulf Capital has acquired, as part of a large investment consortium, a 21% stake in Maritime Industrial Services Co. (MIS) was acquired as part of a larger private placement that raised $80 million for MIS on the Norwegian over the counter (OTC) market.


Rowan Announces Record Quarterly Results

For the three months ended September 30, 2007, Rowan Companies, Inc. (NYSE:RDC) generated record net income of $130.8m, or $1.16 per share, compared to $87.0m, or 78 cents per share, in the third quarter of 2006 and $128.1m, or $1.14 per share, in the second quarter of 2007. Revenues were $502


Rowan 3Q Operating Results

For the three months ended September 30, 2008, Rowan Companies, Inc. (NYSE: RDC) generated net income of $114.1m or $1.00 per share, compared to $130.8m or $1.16 per share in the third quarter of 2007 and $120.6m or $1.06 per share in the second quarter of 2008. Revenues were $527


Hercules Offshore 4Q and 2008 Results

On Feb. 10, Hercules Offshore, Inc. (NASDAQ:HERO) reported income from continuing operations of $37.4m, or $0.42 per diluted share, on revenues of $313.5m for the fourth quarter 2008, excluding the effects of non-recurring items, compared with income from continuing operations of $32.8m, or $0


Pride International Q2 2009 Results

Pride International, Inc. (NYSE: PDE) reported income from continuing operations for the three months ended June 30, 2009 of $121.8 million, or $0.69 per diluted share. The second quarter results compared to income from continuing operations of $153.1 million, or $0


Diamond Offshore Drilling, Two New-Build Drillships

diamond-offshore.bmp

Diamond Offshore Drilling, Inc. (NYSE:DO) today announced that a subsidiary of the company has entered into two term drilling contracts with Anadarko Petroleum Corporation. The contracts, which will utilize Diamond Offshore's two new-build drillships now on order


Ultra-deepwater Semisubmersible Rig Delivered to Ensco

Keppel FELS shipyard, Singapore, delivers the seventh & final ENSCO 8500 Series® rig to Ensco The rig is contracted to Anadarko for work in the U.S. Gulf of Mexico starting in December 2012. “The construction and successful commencement of the ENSCO 8500 Series distinguish


Seadrill Record Best-ever Quarterly Result

Jack-up Rig West Ariel: Photo credit Seadrill

Seadrill announces favourable first quarter 2013 financial results.  Highlights     •    Seadrill records its best operating quarterly result ever and generates first quarter 2013 EBITDA*) of US$713 million


Transocean Reports Q2 2013 Revenue Increase

Photo courtesy of Transocean

Transocean's second quarter 2013 revenues were US$2.397-billion, compared with US$2.197-billion in the first quarter of 2013. Financial highlights: Operating and maintenance expenses for the second quarter were $1.393 billion, compared with $1.375 billion in the first quarter of 2013;


AHTS & PSV Charters: Latest Market Trends

The AHTS market bottomed out at at the end of last week at GBP 10K levels, however recent activity has seen and will continue to see rates increase, considers Westshore Shipbrokers. In the AHTS market the high availability in Norway from earlier in the week has come down with one vessel available


 
rss feeds | archive | privacy | history | articles | contributors | top news | contact us | about us | copyright