Category: Offshore

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 »

Feds release new Arctic drilling analysis

The move by the Interior Department’s Bureau of Ocean Energy Management responds to a federal court ruling against the environmental analysis underpinning that seven-year-old sale, and leaves open the possibility that Shell Oil Co. will resume drilling in the Chukchi Sea this summer.  More »

Death toll of Brazilian oil ship explosion rises to 5

According to the Unified Oil Workers Federation, Brazil’s biggest oil industry union, the blast was caused by a gas leak in the vessel’s engine room.  More »

Hercules Offshore lays off 30 percent of workforce

Offshore driller Hercules Offshore has laid off 30 percent of its workforce since October, company officials said on a conference call with analysts Thursday.  More »

China finds sizable natural gas field in South China Sea

The Lingshui 17-2 gas field was discovered 150 kilometers south of China’s southernmost island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find.  More »

Industry presses feds to keep Atlantic drilling on the table

Oil industry advocates are imploring regulators to keep 14 proposed offshore lease sales on the books.  More »

Diamond Offshore CEO: Oil firms trying to sublet rigs in crowded market

Diamond Offshore Drilling is cutting a special shareholder dividend as it stores up cash to shop for acquisitions in the downtrodden oil drilling market, it said Monday.  More »

Oil rigs down 83, Baker Hughes says

Rigs searching for crude are now at their lowest level since November of 2011.  More »

Landrieu calls Obama’s offshore drilling plan a ‘gross injustice to Gulf Coast states’

Former Sen. Mary Landrieu, D-La., took aim at the plan in her first statement since losing reelection last December.  More »

Oceaneering to buy Louisiana ocean-mapping firm for $230m

The deal to buy Lafayette, Louisiana-based C&C Technologies will give Oceaneering access to technology that can map the ocean and survey marine construction for surface and subsea assets, which would boost utilization of its underwater vehicles.  More »

Shell planning to restart Arctic drilling this year

Shell is planning on spending $1 billion to drill exploratory oil wells in Arctic waters north of Alaska this year — as long as it clears legal and permitting hurdles, said CEO Ben Van Beurden.  More »

Three oil majors team up on Gulf megaproject

The collaboration reflects the steep technological and financial hurdles to commercially producing oil from 23-million-year-old Paleogene rock more than five miles below the surface of the sea.  More »