Category: Offshore

Federal oil lease sale of western Gulf tracts set for August

The sale will include approximately 4,000 blocks, from nine to 250 miles offshore, in depths ranging from 16 to almost 11,000 feet.  More »

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.  More »

BP, Maersk team up to train rig crews in Houston simulators

BP is announcing Thursday that it has a five-year contract for its offshore rig crews to get practice with drilling equipment in virtual-reality environments at Maersk Training’s new facility in Houston, which will feature high-tech simulators for offshore rig tasks, the companies said Thursday.  More »

Technip, Aker Solutions to cut 2,100 more oil jobs

Executives at Paris-based oil equipment maker Technip told investors in a conference call the firm has cut 1,800 jobs in recent months, about 15 percent of which were contracted.  More »

Helix CEO: Producers canceling offshore contracts despite termination fees

The Houston offshore service firm probably won’t make deep cuts to its workforce of 1,600 to cope with the downturn in oil prices, its CEO said, but he acknowledged there “may be some opportunity.”  More »

Think all Millenials are entitled? Meet these two

You know the story: “kids these days, they are SOOOO lazy. All they want to do is tweet and overshare; if they’d actually do some real work they’d get somewhere and they could stop complaining about how the world is so cruel to them!”.  More »

Helix earnings down 78 percent

Offshore services company Helix Energy Solutions Group’s earnings fell 78 percent in the fourth quarter, the company reported Monday, largely the result of more of its vessels sitting unused.  More »

Transocean CEO steps down

The CEO of offshore driller Transocean has stepped down effective Monday under a “mutually agreed” decision between him and the board.  More »

Feds release new Arctic drilling analysis

The move by the Interior Department’s Bureau of Ocean Energy Management responds to a federal court ruling against the environmental analysis underpinning that seven-year-old sale, and leaves open the possibility that Shell Oil Co. will resume drilling in the Chukchi Sea this summer.  More »

Death toll of Brazilian oil ship explosion rises to 5

According to the Unified Oil Workers Federation, Brazil’s biggest oil industry union, the blast was caused by a gas leak in the vessel’s engine room.  More »

Hercules Offshore lays off 30 percent of workforce

Offshore driller Hercules Offshore has laid off 30 percent of its workforce since October, company officials said on a conference call with analysts Thursday.  More »

China finds sizable natural gas field in South China Sea

The Lingshui 17-2 gas field was discovered 150 kilometers south of China’s southernmost island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find.  More »

Industry presses feds to keep Atlantic drilling on the table

Oil industry advocates are imploring regulators to keep 14 proposed offshore lease sales on the books.  More »

Diamond Offshore CEO: Oil firms trying to sublet rigs in crowded market

Diamond Offshore Drilling is cutting a special shareholder dividend as it stores up cash to shop for acquisitions in the downtrodden oil drilling market, it said Monday.  More »

Oil rigs down 83, Baker Hughes says

Rigs searching for crude are now at their lowest level since November of 2011.  More »
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