A Sikorsky model 76-D helicopter hovers over a runway during a demonstration of the new Sikorsky model 76-D helicopter designed for transporting offshore oil workers at West Houston Airport Friday, Jan. 23, 2015, in Houston. Sikorsky just opened a Houston office to focus on oil & gas support. 
( James Nielsen / Houston Chronicle )

Sikorsky to cut 1,400 jobs, citing falling oil production

Spokesman Paul Jackson said the cuts are not related to a review by United Technologies of whether to sell, spin off or divest Sikorsky. A decision is expected to be announced in about a month.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Chevron’s massive Big Foot project delayed again

Production won’t start later this year as planned because the company has to move the platform to sheltered waters while it assesses the problem.
William Transier (Endeavor)

Endeavour International puts all its assets up for sale

Houston-based Endeavour said Monday it launched a marketing process to sell its United Kingdom-based North Sea assets. The announcement came after Endeavour previously said in April that it put its U.S. assets up for sale. All of Endeavour’s operations are in the North Sea and U.S. shale.
A heavy duty jack-up rig drills over the Forties Echo platform (Apache Corp.)

Apache reorganizes leadership, closes offices

Houston-based Apache CEO and President John Christmann, who abruptly took over the CEO role in January, is merging North American operations into two “super regions” in Houston and the Permian region in Midland. A third international and offshore super region will consist of Apache’s Egypt, North Sea and Gulf of Mexico regions.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Saudi Aramco cuts day rates in half for Hercules Offshore rigs

Saudi Aramco won’t cancel a five-year contract for a Hercules Offshore drilling rig after all, the Houston contractor said Monday, four months after the world’s biggest oil producer signaled it would terminate the drilling deal.
Seadrill's West Sirius semi-submersible rig (Seadrill)

Seadrill execs expect scrapping of deep-water rigs to accelerate

U.S. oil companies may not be sidelining as many rigs at its big shale plays, but the fate of many deep-water machines around the world is far from certain.
Workers prepare two compressor modules for OneSubsea’s multiphase compressor. (OneSubsea)

Houston subsea company awarded big contract for North Africa gas project

This award is the second part of a natural gas project and spans 13 deep-sea wells, and is the largest contract for work on subsea production systems in North Africa, Cameron International CEO Jack Moore said in a written statement.
Penguins gather on the coast of Murrell Farm near the northeastern corner of the Falkland Islands. The Falklands have struck oil, potentially pumping billions of dollars into their treasury. One downside is the potential for a major spill in seas where penguins, whales, seals and other marine mammals are drawn to unspoiled coasts.   (AP Photo/Michael Warren)

Premier opens new oil zone off Falkland Islands, boosting shares

Premier struck oil at the Isobel Deep well, about 30 kilometers (19 miles) from its Sea Lion discovery, the company said Thursday in a statement. Its stock jumped the most in two weeks, while partner Rockhopper Exploration Plc gained as much as 7 percent.
A dynamic positioning and marine environment simulator used for simulation and training on exhibit in the Jelec booth at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. (Gary Coronado / Houston Chronicle)

Major offshore vessel contractor could be in the market for acquisitions, CEO says

The CEO of vessel contractor Tidewater says the oil bust could be an opening to scoop up smaller rivals in marine services as corporate consolidations could help offshore firms cope with the downturn.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Exxon, Chevron clear to bid on Mexican shallow-water blocks

Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.