Category: Offshore

Transocean plans job cuts to focus on offshore business

Transocean Ltd. expects to achieve $300 million in annualized cost savings after a restructuring initiative that included divesting 38 offshore rigs in the fourth quarter and eliminating shore-based jobs.  More »

Feds launch test of Helix offshore spill containment system

In deep Gulf of Mexico waters on Tuesday, federal regulators and the oil industry launched a drill meant to test whether emergency equipment and first responders are ready to tackle an out-of-control subsea well.  More »

Oil ties between Texas and Norway grow stronger

An informal relationship going back decades became official with the launch of the NorTex Research Collaborative, linking researchers in Texas and Norway.  More »

Malware offshore: Danger lurks where the chips fail

In the same year that a massive explosion and oil spill rocked the Gulf of Mexico, a digital disaster played out halfway around the world. A rig was overwhelmed by malicious computer software, an infection that could have caused the blowout preventer and other systems to be unresponsive, possibly leading to a well blowout.  More »

Bill would force feds to sell drilling leases off Virginia coast

The Obama administration would be forced to sell offshore drilling leases off the coast of Virginia under a bill introduced in the House on Friday.  More »

CDC: Death by helicopter leading killer for oil and gas workers

Death by helicopter is the leading cause of industrial accidents for oil and gas workers, according to a Center for Disease Control report issued Friday.  More »

Highest-paid workers driving Shell off Australian shores

Escalating costs to build liquefied natural gas plants on land in Australia, where energy workers earn the highest salaries in the world, are driving developers out to sea in search of billions of dollars in savings.  More »

Gulf shallow water rig shortage boosts profits for Hercules

A growing shortage of shallow-water rigs in the Gulf of Mexico is providing an unexpected profit boost for Hercules Offshore Inc. and Ensco Plc as customers move farther offshore in the hunt for oil.  More »

House bill would codify Gulf of Mexico drilling deal

Lawmakers took a modest step Thursday toward enacting a one-year-old agreement between the United States and Mexico that promises to unleash oil drilling along the nations’ maritime boundary in the Gulf.  More »

Cobalt’s oil finds seen luring Shell to Exxon

Cobalt International Energy Inc. (CIE), the oil explorer that doubled in value since going public in 2009, is turning into a takeover target for energy companies attracted to its oil finds from Africa to the Gulf of Mexico.  More »

Gulf oil spill judge poses questions on gross negligence issue

The federal judge who must decide whether BP and its partners committed gross negligence in connection with the 2010 Gulf of Mexico oil spill is offering some clues as to how he will formulate his decision.  More »

Oceaneering profits hit all-time high

Oceaneering International Inc., the world’s largest provider of underwater robots to the oilfield, climbed to an all-time high after beating profit expectations, raising earnings guidance for the year and boosting its dividend.  More »