There are signs of stability in offshore exploration and production, but it may be next year before any real indications surface, a London-managed driller said. Seadrill Ltd., a deep-water driller with offices in London, reported a $260 million decline in net profits for the second quarter and a 24 percent decline in revenue to $868 million year-on-year. The company attributed the loss to the expiration of rig contracts and reduced day rates paid for its drillers. Offshore drillers have taken a hit in the era of lower crude oil prices, which are about 50 percent below levels common two years ago. Rig company Transocean, one of the largest companies in the field, said it expected few contracts to emerge in 2016 and smaller industry […]