Rig company Seadrill Ltd., based in Norway, said it was looking at restructuring options after noting it didn’t expect improvements in lease rates this year. Energy companies are spending more Continue Reading
Rig company Transocean said that, after reporting an increase in revenues for the fourth quarter, recovery for offshore drillers was evident on the horizon. Transocean reported revenues for the fourth Continue Reading
In 2017, the offshore rig market is not expected to recover to the levels some had forecasted. In 2017, the offshore rig market is not expected to recover to the Continue Reading
While oil drillers in US shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel. Continue Reading
While oil drillers in U.S. shale basins are starting to see business come back, their offshore brethren will have to wait for prices to surge well above $60 a barrel. Continue Reading
Royal Dutch Shell Plc’s $3.8 billion sale of North Sea oil and gas fields creates a model for further transactions in a region where the question of who pays to Continue Reading
BP plc made another step towards its goal of adding 800,000 barrels of new production by 2020 with the start of production in December from the Thunder Horse South Expansion Continue Reading
Here’s one of the most important charts we might see in oil and gas this year. New this week from industry watchdog Wood Mackenzie — showing how many offshore petroleum Continue Reading
The exploration and production business has been bearing the brunt of slashed investment and reduced budgets in the wake of the oil price crash. Yet, another industry dependent on E&P Continue Reading
The oil price bust, which resulted from the global crude oil glut, has created yet more oversupply, this time in the offshore industry, where a rig and vessel glut is Continue Reading
The next lease sale planned by the U.S. government for oil and gas reserves in the Gulf of Mexico will be streamed live on the Internet, an agency said. On Continue Reading
Offshore oil majors could shave nearly a third off their exploration and development costs by simply agreeing to industry-wide equipment standards, according to an industry association executive. Rather than having Continue Reading
Offshore oil majors could shave nearly a third off their exploration and development costs by simply agreeing to industry-wide equipment standards, according to an industry association executive. Rather than having Continue Reading
Hundreds of kayaktivists protest drilling in the Arctic and the Port of Seattle being used as a port for the Shell Oil drilling rig Polar Pioneer (Daniella Beccaria/seattlepi.com via Associated Continue Reading
Five-year schedule of lease sales leaves out Arctic, Atlantic Environmentalists have pressed for permanent protections The Obama administration’s decision to forgo auctions of new oil and gas drilling rights in Continue Reading
The Interior Department is expected this week to unveil its final five-year plan for offshore oil and natural gas lease sales and both industry and environmental sources believe proposed Arctic Continue Reading
Across the oil industry, many firms have started to see their stock prices stabilize. The offshore deepwater drilling industry is the exception. Deepwater drillers have continued to collapse in value. Continue Reading
The majority of us will say check out last year’s figures – only 13 exploratory wells were drilled in 2015. As energyvoice.com put it – “Exploration in British waters has Continue Reading
Source: U.S. Energy Information Administration, based on Rystad Energy Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30% of total global Continue Reading
The offshore rig market is currently in its worst slump since the mid-1980s, according to the October 2016 issue of RigOutlook. Offshore drilling in many parts of the world is Continue Reading
Offshore exploration has been a rare bright spot for the global oil and gas industry lately. Some of the movement in the offshore sector is coming as governments get more Continue Reading
Transocean, Seadrill see utilization rates stabilizing in 2017 As many as 60 more floating rigs need to be scrapped Offshore oil-rig operators, grappling with the biggest industry downturn in a Continue Reading
BP supervisors on rig depicted putting profits above safety Star-driven movie premiered at Toronto filmfest this week Just as memories of the 2010 Deepwater Horizon oil rig disaster were starting Continue Reading
Anadarko Petroleum Corp. is diving even further into deepwater Gulf of Mexico with a $2 billion acquisition of assets from Freeport McMoran Oil & Gas, the company announced Monday. The Continue Reading
French oil services company Bourbon said on Thursday that any rebound in oil and gas prices will take a while to reach companies in the offshore marine sector because of Continue Reading
After taking a partial cash offer for assets in the region, Royal Dutch Shell said it started production at its deepest project yet in the Gulf of Mexico. Shell said Continue Reading
In this post, I will address 3 topics relating to the Northern Deepwater Gulf of Mexico – 1. Historical oil production 2. One view of the future of exploration 3. Continue Reading
Royal Dutch Shell Plc agreed to sell its Brutus/Glider operation in the Gulf of Mexico for $425 million as Chief Executive Officer Ben Van Beurden seeks to resuscitate an explorer Continue Reading
A glitch interrupted the first-ever U.S. livestream of an oil lease sale on Wednesday, and although it didn’t affect the bidding, this epic fail provided just the right metaphor to Continue Reading
Despite tough industry conditions, bidding that emerged in the latest lease shows the U.S. Gulf of Mexico remains good energy acreage, the government said. Only three companies emerged with bids Continue Reading
An advocacy group called on the U.S. government to enact further restrictions on Atlantic Ocean energy work, citing seismic threats to marine animals. Oceana published new mapping data in coordination Continue Reading
U.S. oil majors ExxonMobil, Chevron and Hess will bid jointly in the upcoming deepwater oil and gas tender planned by Mexico. The auction, which will take place on December 5, Continue Reading
U.S. offshore energy regulators said they’re seeking input on the potential to offer more than 70 million acres up for drilling in the Gulf of Mexico. The U.S. Bureau of Continue Reading
The deep waters of the U.S. Gulf of Mexico continue to be one of the more prolific sources of oil and natural gas, the federal government said. “The Gulf of Continue Reading
After idling some rigs in an effort to cut costs during the second quarter, Diamond Offshore said its optimism about a market recovery was somewhat low. The rig company, which Continue Reading
Rig company Transocean said it consolidated its holdings and said Monday it grabbed a majority interest in three additional offshore drilling assets. Transocean said it agreed to acquire any outstanding Continue Reading
Oil companies are pumping more crude off the U.S. coast in the Gulf of Mexico, a surprising trend that shows the resilience of the nation’s energy industry. Despite the worst Continue Reading
How badly do oil producers want to transition out of the deepwater and focus on shale? And guess what that means for the global oil price? Exxon Mobil (NYSE:XOM) just Continue Reading
Maersk Drilling said Friday it acquired a rig designed for harsh environments from struggling rival Hercules Offshore for deployment in the North Sea. Maersk entered into an agreement with a Continue Reading
