Category: Offshore

CGG open to Technip partnership after spurning takeover approach

CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.  More »

East Coast Democrats protest Atlantic oil drilling

Sixty-five lawmakers told the Obama administration to reconsider a plan to sell oil and gas drilling leases along the East Coast.  More »

BP discovers second big natural gas reservoir in Egypt

The British oil giant’s new gas discovery contains more than 5 trillion cubic feet of natural gas equivalent.  More »

Cal Dive files for chapter 11 bankruptcy protection

The Houston firm said this week it is set to sell off its least important assets and plans to either reorganize or sell its main subsea contracting business, which helps oil companies maintain offshore production platforms and pipelines.  More »

Feds weighing Shell bid for more time in Arctic

Interior Secretary Sally Jewell said the Obama administration will decide soon whether to yield to Shell’s request for an extension of its Arctic drilling leases. Statoil and ConocoPhillips have made parallel requests for leases that will begin expiring in 2019.  More »

EIA: Gulf of Mexico production to continue increasing

By 2016, the Gulf will account for about 17 percent of total U.S. crude production.  More »

Philippines suspends oil, gas exploration in disputed waters with China

Oil and gas exploration company Forum Energy Plc. said the Department of Energy instructed it to halt all work in its contracted area at Reed Bank in the South China Sea off the western Philippine province of Palawan.  More »

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 »
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