Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling. More »
Among those in attendance were top officials from the U.S. Bureau of Ocean Energy Management, which regulates drilling operations and handles the sale and lease of off-shore drilling rights in federal waters. More »
Statoil won’t use the Transocean Spitsbergen and Songa Trym rigs from mid-November through at least the year-end because of overcapacity. More »
The Norwegian oil conglomerate estimates the field could generate as much as 650,000 barrels of oil per day. More »
Houston-based drilling rig contractor Hercules Offshore has told Texas regulators it will lay off 324 employees as it shuts down four rigs in the Gulf of Mexico. More »
Shell’s midstream initial public offering took flight early Wednesday, gaining more than 40 percent shortly after trading started. More »
Standards sound great, but I see obstacles to their adoption. I’ll outline those this week, and, since no one likes people who complain about problems but never offer any solutions, I’ll share some thoughts on how to overcome these issues. More »
Finding the oil is just the beginning, especially in the depths of the sea. More »
Chevron and BP report an oil discovery in one of the deepest regions the industry has taken on in the Gulf of Mexico. More »
The UK North Sea is an area that BP CEO Bob Dudley said last month “is now mature,” and that investment opportunities “are smaller and more challenging to develop than in the past.” More »
Royal Dutch Shell today announced a discover off the coast of Gabon but says it will need to conduct further analysis to determine just go much gas is present. More »
The next generation of tools designed to help energy companies process oil and gas deep under the oceans could follow uniform industry designs, FMC Technologies CEO John Gremp said. More »
FMC Technologies on Tuesday posted a 46 percent boost to its third-quarter bottom line, largely because of a rise in subsea technology sales and its North American high-pressure fluid control business. More »
A Houston oil and gas company must pay to settle government charges alleging it illegally dumped oil and chemicals into the Gulf of Mexico.
The Obama administration is moving ahead with plans to sell offshore drilling rights in the central Gulf of Mexico.