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First Damen Fast Crew Supplier with Ampelmann Gangway
The partnership between Damen Shipyards Group and Ampelmann to extend the benefits of motion-compensated gangway systems to fast crew supply vessels has reached a major landmark.
Chrysaor Contracts Rowan jack-up for North Sea
Rowan Companies announced that the Rowan Gorilla VII, a Super Gorilla Class ultra-harsh environment jack-up rig, has been awarded an 18-month program by Chrysaor in the UK sector of the North Sea.
Vryhof Anchors Announces Stevshark Rex Contracts
Vryhof Anchors, a Vryhof company, has announced a number of contracts for its’ Stevshark Rex anchoring solution with Anglo-French independent operator Perenco and its Congolese subsidiary Perenco Congo SA; Maersk Drilling in Trinidad; and international EPC contactor CNGS Group. In addition, two Stevshark Rex’s will also be deployed by Jan De Nul Group, a dredging, offshore, civil and environmental…
Stena Drillship First to Receive DNV GL MPD Class Notation
DNV GL has revised its classification rules for Managed Pressure Drilling (MPD) systems and introduced two new class notations DRILL(MPD) and DRILL(MPD READY). Stena Drilling Ltd.
US Interior Secretary Sees Little Demand for New Offshore Drilling
U.S. Interior Secretary Ryan Zinke said on Friday that he sees little demand from oil and gas companies for new offshore drilling leases, which could pose problems for his plan to ramp up output from federal waters.The comments come just three months after Zinke had proposed opening nearly all U.S. ocean coastlines to drilling, in a bid to raise domestic oil and gas production. The plan sparked immediate protests from coastal states…
OSV Market Poised for Growth -Report
The global offshore support vessel (OSV) market is expected to grow from an estimated $20.06 billion in 2018 to $25.66 billion by 2023, according to a recent report published by MarketsandMarkets. Ongoing offshore activities across the U.S., China, Brazil and the North Sea will help the market to expand at a CAGR of 5.04 percent during the forecast period, according to the report. Offshore exploration…
Harvey Gulf Files for Chapter 11 Bankruptcy
Louisiana-based Harvey Gulf International Marine LLC, which has more than 50 vessels in its fleet and supplies offshore oil rigs among other services, filed for Chapter 11 bankruptcy in Houston.
Ocean Rig Signs New Drilling Contract with Tullow Namibia
Ocean Rig UDW, an international contractor of offshore deepwater drilling services, today announced that it has signed a new drilling contract with Tullow Namibia…
Borr Drilling Buys Paragon Offshore
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil prices in 2014 forced oil firms to cut back on offshore exploration, reducing demand for drilling rigs at a time when new rigs ordered during the boom years were entering the market, pushing rates down to, or below, operating costs.
Transocean Upbeat About Offshore Recovery, Despite Quarterly Loss
Drilling contractor Transocean Ltd on Wednesday expressed optimism about a recovery in offshore drilling activity this year, despite reporting its third quarterly loss in a row. Companies that provide services and equipment for oil and gas exploration and production, among the worst hit by the 2014 oil price downturn, have grown optimistic about the future as oil prices recently have bounced back.
Noble Corp Reports Smaller Q4 Loss
Offshore drilling contractor Noble Corp Plc's fourth-quarter loss narrowed from a year earlier, when it recorded impairment charges of $1.44 billion. Net loss attributable…
Maersk Energy: Uptick in Offshore Oil
COPENHAGEN, Feb 20 (Reuters) - Prospects for the offshore oil drilling market are improving but profits for drillers are still under pressure and rates will not rise before 2019, the head of A.P. Moller-Maersk's energy business said. Oil firms have seen cash flow climb in 2017 a high since a three-year slump in crude prices, lifted by their cost-cutting plans and a crude price recovery. Although this has spurred new investment…
Transocean Amends Drilling Contract
Transocean announced that an agreement has been reached with the incumbent customer to amend the drilling contract on the harsh environment semisubmersible Transocean Leader.
Northern Offshore Sells Semi-Sub
Northern Offshore announces it has sold its semisubmersible Energy Driller to an unnamed party for conversion to alternative use. The unit had previously been cold…
Tidewater Names Rynd President, CEO
Tidewater Inc. (NYSE: TDW) appointed John T. Rynd as the company's new President and CEO and a member of the Board of Directors effective March 5. He replaces Larry T.
Stena Drilling Signs Contract with Nexen Petroleum
Offshore driller Stena Drilling has signed a contract with Nexen Petroleum U.K. Limited for the Stena Spey drilling rig. Stena said in a press release that the…
Diamond Offshore Revenue Beats Estimates
Diamond Offshore Drilling Inc's fourth-quarter revenue beat analysts' estimates on Monday, helped by higher demand for its ultra-deepwater rigs. The company's revenue from its ultra-deepwater rigs rose more than 24 percent to $288.28 million in the fourth quarter. Total revenue fell nearly 12 percent to $346.21 million, but beat analysts' estimate of $331.91 million, according to Thomson Reuters I/B/E/S.
California to Ban Crude from Trump Offshore Drilling Plan
California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters. California's threat to deny pipeline permits for transporting oil from new leases off the Pacific Coast is the latest step by states trying to halt the biggest proposed expansion in decades of federal oil and gas leasing.
Alaska Requests Limits on US Offshore Drilling
Alaska Governor Bill Walker said on Tuesday he has asked U.S. Interior Secretary Ryan Zinke to pare back a Trump administration plan for oil and gas leasing off the state's coast. While Walker supports offshore oil development, he said the Interior Department should focus on the most prospective areas off Alaska – the Beaufort and Chukchi seas in the Arctic and Cook Inlet in southern Alaska – and drop all others from the leasing plan.
Tech File: Propelling Hybrid Electric Solutions
Growing interest in hybrid-electric power systems is expanding the search for new propulsion and energy-storage systems in the workboat sector, where compliance with emerging environmental regulations and a relentless pursuit of operational efficiency are driving change. To meet demands for cleaner more efficient power, owners are examining the potential for less conventional methods of energy generation and storage – such as fuel cells…