Jeremy Thigpen

Transocean beats estimates on cost cutting

Jeremy Thigpen takes the helm as the drilling industry confronts the double whammy of a glut of new deep-water rigs and falling demand as producers reduce spending because of the collapse in oil prices.
Categories: Offshore

At OTC, recruiter says layoffs could climb by 20,000, but job market could return in 2016

“If you’re coming out of graduate school this year with a fantastic degree in the oil sector, I’d probably wait a year and go on vacation. In a year’s time, it will all be back again,” Swift Worldwide Resources CEO Tobias Read said.
The concrete walls on BP's new computing center are made to look like seismic images. (Zain Shauk/Houston Chronicle)

Exec at OTC: For BP, big data ups production by nearly 300,000 barrels a day

Over the past two years, BP has built ties to a major technology company and is developing 10 major projects across the company that use big data analytics to corral the massive streams of information gushing from its oil fields.
Halliburton's 2,000-horsepower hydraulic fracturing truck is parked at the Offshore Technology Conference in Houston this week.

In flood of subsea tools, shale-busting tech draws eyes at OTC

High-horsepower pumps and big hydraulic fracturing trucks, the primary tools used to bust open U.S. shale rock, have carved out parking spaces of their own at the Offshore Technology Conference in Houston.
From the left: Charlie Williams, executive director of the Center for Offshore Safety; Brian Salerno, director of the Bureau and Safety Environmental Enforcement; and Rear Admiral Joe Servidio of the U.S. Coast Guard sit on a panel about offshore safety during the 2014 Offshore Technology Conference at NRG Park on May 8. (Patric Schneider/Houston Chronicle)

OTC: Feds launch confidential tipline for offshore problems, aiming to find small problems before they get big

When accidents are narrowly averted at offshore oil and gas facilities, Uncle Sam wants to know about it. And now, there’s a new avenue for the government to get those tips, via a confidential near-miss reporting system unveiled at the Offshore Technology Conference on Tuesday.
Oceaneering International displays its remotely operated underwater vehicle at the Offshore Technology Conference in Houston on Monday. Oceaneering's ROVs took part in repairing damage at a blown-out well during the Deepwater Horizon oil spill five years ago.

At OTC, a robot invasion

At the Offshore Technology Conference on Monday, a robot the size of a car brandished a pair of wicked-looking tools used to pierce through thick steel at the bottom of the ocean. A tattoo on its right arm warned it has a “laser.”
The Ocean Monarch (Image: Diamond Offshore)

Diamond Offshore sees drilling rig downturn ‘lower for longer’

Exploration and production customers have canceled more than $4 billion of future work for offshore rig owners globally, Chief Executive Officer Marc Edwards said Monday on a first- quarter earnings conference call.
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)

Hercules Offshore has cut 40 percent of workforce amid low oil

The CEO of rig contractor Hercules Offshore says the firm’s global workforce has been cut by nearly 40 percent this year as it wrestles with sunken oil prices. It had 1,800 employees at the end of 2014.
Transocean's Discover Seven Seas

Transocean names new CEO

Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Pritesh Patel, director of research for IHS, left, leads a panel of energy experts during IHS CERAWeek in April 2015.

CERAWeek: Oil tool makers say upstream discounts unlikely to climb high

Though the industry expects operational and construction costs for oil-production projects to fall up to 40 percent this year, prices for tools and services probably won’t crumple that much, a panel of energy experts said Tuesday.