For the first quarter of 2015, McDermott posted a loss of $14.5 million, or 6 cents a share, including $10.4 million in restructuring charges, which compared to a larger $46.5 million loss, or 20 cents a share, for the same quarter in 2014.
Shell moved one step closer to resuming its $6 billion quest for crude in the Arctic on Monday, with the Obama administration’s approval of its broad plan for exploratory oil drilling in the Chukchi Sea north of Alaska.
The Bureau of Safety and Environmental Enforcement will hold a workshop on the issue on July 29 in Houston aimed at getting ideas for how to strengthen the safety and environmental management systems required of companies operating offshore.
Increasing computerization and automation offshore open up the possibility of dangerous disruptions, driven by errant software updates and plugged-in flash drives. One incident has already taken place.
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.
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.