A dynamic positioning and marine environment simulator used for simulation and training on exhibit in the Jelec booth at the Offshore Technology Conference at the NRG Center Tuesday, May 5, 2015, in Houston, Texas. (Gary Coronado / Houston Chronicle)

Major offshore vessel contractor could be in the market for acquisitions, CEO says

on
The CEO of vessel contractor Tidewater says the oil bust could be an opening to scoop up smaller rivals in marine services as corporate consolidations could help offshore firms cope with the downturn.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Exxon, Chevron clear to bid on Mexican shallow-water blocks

on
Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.
Caption


This photo provided by the U.S. Coast Guard shows a fire on the Breton Island platform on Friday, May 22, 2015 off the coast of Louisiana.  (U.S. Coast Guard via AP)

Fire on coastal Louisiana oil platform extinguished

on
The Coast Guard reported that a light sheen of oil near the site appeared to be dissipating and moving away from the Breton National Wildlife Refuge on the nearby barrier islands.
14390948602_3760b172b7_o

Fire on Gulf oil platform forces evacuation of 28 workers

on
The Coast Guard reported a light sheen of oil could be seen from the air along a more than one-mile stretch of water. Also, about 4,000 barrels of crude oil is stored on the platform.
(Kristian Helgesen/Bloomberg)

Norway’s prime minister relieved as nation avoids crisis of sub-$45 crude

on
Brent crude, the lifeblood for a nation that depends on petroleum for about 20 percent of its economic output, has rallied more than 40 percent since a Jan. 13 low of about $45.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Hercules sells four rigs as Gulf drilling work disappears

on
This month’s rig sales come after the oil slump has taken a big toll on the Houston jackup rig contractor, which has cut 40 percent of its 1,800 employees in recent months.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

Harvest Natural Resources stock spike could signal interest from a buyer

on
Harvest CEO James Edmiston said a sharp increase in the price of its battered shares could indicate a buyer is looming, but said the company has received no offers.
The J. W. McLean offshore drill rig, operated by Transocean Ltd., stands anchored in the Cromarty Firth beyond the prow of the offshore pipelay vessel Deep Energy, operated by Technip SA, in Invergorgon, U.K., on Wednesday, Aug. 6, 2014. (Photographer: Simon Dawson/Bloomberg)

Transocean idles three more rigs amid crude slump

on
Offshore driller Transocean has idled three more deep-water rigs, bringing its number of out-of-work units to 14, it said Monday, as the oil slump continued to hammer the drilling market.
SEATTLE KAYAK OIL PROTEST

Protesters of Arctic drilling block entry to Seattle port

on
Organizers had prepared to engage in civil disobedience to stop work on the drill rig, but Seattle police said Monday afternoon that no one had been arrested and the demonstration remained peaceful. A few dozen officers followed the march on foot and bicycle and kept watch at the terminal.
The Deepwater Millennium drillship  works on an Anadarko Petroleum Corp. project in the Rovuma Basin off the coast of Mozambique. (Anadarko Petroleum Corp.)

Anadarko picks contractors on major LNG project

on
Anadarko chose CB&I, both of which are headquartered in The Woodlands, as part of CB&I’s CCS engineering and construction joint venture with Japan-based Chiyoda Corp. and Italy-based Saipem.