Seadrill's West Sirius semi-submersible rig (Seadrill)

Seadrill execs expect scrapping of deep-water rigs to accelerate

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U.S. oil companies may not be sidelining as many rigs at its big shale plays, but the fate of many deep-water machines around the world is far from certain.
Workers prepare two compressor modules for OneSubsea’s multiphase compressor. (OneSubsea)

Houston subsea company awarded big contract for North Africa gas project

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This award is the second part of a natural gas project and spans 13 deep-sea wells, and is the largest contract for work on subsea production systems in North Africa, Cameron International CEO Jack Moore said in a written statement.
Penguins gather on the coast of Murrell Farm near the northeastern corner of the Falkland Islands. The Falklands have struck oil, potentially pumping billions of dollars into their treasury. One downside is the potential for a major spill in seas where penguins, whales, seals and other marine mammals are drawn to unspoiled coasts.   (AP Photo/Michael Warren)

Premier opens new oil zone off Falkland Islands, boosting shares

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Premier struck oil at the Isobel Deep well, about 30 kilometers (19 miles) from its Sea Lion discovery, the company said Thursday in a statement. Its stock jumped the most in two weeks, while partner Rockhopper Exploration Plc gained as much as 7 percent.
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

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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

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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.
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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

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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.
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Fire on Gulf oil platform forces evacuation of 28 workers

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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

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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

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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

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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.