Gulf of Mexico O&G sale: High bids and big questions
Yesterday’s Gulf of Mexico Oil and Gas Lease Sale 261 generated $382,168,507 in high bids for 311 tracts covering 1.7 million acres in federal waters of the Gulf of Mexico. A total
offshore drilling
Organizational changes at Seadrill
As previously announced, offshore driller Seadrill Limited (NYSE & OSE: SDRL) has decided to close its London, England, office and consolidate its corporate office in Houston. Someone who won’t be making the
Equinor secures Hercules semi for 2024 Canada drilling campaign
In another sign of strength in the offshore drilling market, John Fredriksen associated SFL Corporation Ltd. (NYSE: SFL) reported today that it has signed a drilling contract in Canada with a subsidiary
Diamond Offshore adds to backlog
Houston-headquartered Diamond Offshore Drilling, Inc. (NYSE: DO) has reported second quarter 2023 results that saw $229 million added to its backlog. Total revenues were $281.5 million compared with $232 million in the
Valaris reactivates another floater
Offshore drilling contractor Valaris Limited (NYSE: VAL) today reported that it is reactivating its Valaris DS-7 drillship to service a newly-awarded 12-well contract offshore West Africa The contract is expected to commence
Offshore drilling: More cold-stack floaters set for reactivation?
With demand for offshore drilling rigs pushing up, will more drilling contractors start reactivating cold-stacked floaters? London-based Maritime Strategies International (MSI) says that, while the market for floaters has long since crossed
Seadrill in $958 million acquisition of Aquadrill
Offshore drilling contractors Seadrill Limited (NYSE & OSE: SDRL) and Aquadrill LLC have entered into a definitive merger agreement that will see Seadrill acquire Aquadrill in an all-stock transaction. On completion of
Valaris announces multiple offshore contracts
Offshore drilling contractor Valaris Limited (NYSE: VAL) has kicked off the New Year by announcing a flurry of contracts. Today it reported that it has been awarded the following new contracts: One-well
Offshore driller exits Chapter 11
Offshore drilling contractor Valaris — which until a 2019 name change was called EnscoRowan — reports that on April 30, 2021, it completed its financial restructuring and emerged from Chapter 11 bankruptcy.
Rystad sees offshore drilling set for two-year uptick
After a challenging 2020, oil and gas demand recovery — supported by vaccination efforts and OPEC+ supply cuts — is proving good for drilling activity, says Oslo, Norway, headquartered consultancy Rystad Energy.