The Ocean Monarch (Image: Diamond Offshore)

Diamond Offshore sees drilling rig downturn ‘lower for longer’

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Exploration and production customers have canceled more than $4 billion of future work for offshore rig owners globally, Chief Executive Officer Marc Edwards said Monday on a first- quarter earnings conference call.
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 Offshore has cut 40 percent of workforce amid low oil

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The CEO of rig contractor Hercules Offshore says the firm’s global workforce has been cut by nearly 40 percent this year as it wrestles with sunken oil prices. It had 1,800 employees at the end of 2014.
Transocean's Discover Seven Seas

Transocean names new CEO

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Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Pritesh Patel, director of research for IHS, left, leads a panel of energy experts during IHS CERAWeek in April 2015.

CERAWeek: Oil tool makers say upstream discounts unlikely to climb high

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Though the industry expects operational and construction costs for oil-production projects to fall up to 40 percent this year, prices for tools and services probably won’t crumple that much, a panel of energy experts said Tuesday.
Maria de Lourdes Melgar Palacios, Mexico's undersecretary of hydrocarbons in the Ministry of Energy. (Emily Pickrell/Houston Chronicle)

CERAWeek: Mexico’s bidding rounds continue despite crude collapse

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Thirty-four companies had signed on to the first auction organized by the state, said Lourdes Melgar, Mexico’s deputy secretary of energy for hydrocarbons at the Ministry of Energy.
Photographer: Rich Press.

5 years after BP spill, drillers push into riskier depths

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ON THE GULF OF MEXICO — Five years after the nation’s worst offshore oil spill, the industry is working on drilling even further into the risky depths beneath the Gulf of Mexico to tap massive deposits once thought unreachable. Opening this new frontier, miles below the bottom of the Gulf, requires engineering feats far beyond […]
Protesters in kayaks paddle out to meet the Arctic offshore oil rig Polar Pioneer piggybacked atop the cargo deck vessel Blue Marlin as it arrives at Port Angeles, Wash., on  April 17.  (Keith Thorpe/The Peninsula Daily News via AP)

Activists in kayaks on horizon as Shell’s Arctic rig arrives at Washington port

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Activists opposed to Arctic drilling are preparing to greet the rig when it makes it to Emerald City, with some threatening a flotilla of kayaks to box the ship in.
Transocean's Deepwater Asgard arrived in the Gulf of Mexico in April 2015 to work under a two-year contract with Chevron. (Chevron)

Sixth Chevron drillship arrives in the Gulf of Mexico

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The drillship, called the Deepwater Asgard, will work in the Mississippi Canyon under a two-year contract with Transocean, a Swiss rig contractor
In this March 31, 2015 photo, a supply vessel crosses an oil sheen drifting from the site of the former Taylor Energy oil rig in the Gulf of Mexico, off the coast of Louisiana. The New Orleans-based company has downplayed the leak's environmental impact, likening it to scores of minor spills and natural seeps that the Gulf routinely absorbs. (AP Photo/Gerald Herbert)

AP: Offshore wells buried during Hurricane Ivan have been leaking oil into the Gulf since 2004

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An Associated Press investigation has revealed evidence that the spill is far worse than what the company behind the leak has publicly reported.
(Dado Galdieri/Bloomberg)

Shell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico

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The Obama administration’s plan for selling offshore oil and gas leases from 2017 to 2022 could jeopardize the United States’ competitiveness as Brazil, Canada, Mexico and other countries aggressively compete for drilling dollars, a Shell executive told Congress.