The offshore drilling contractor, taking advantage of lower rig-building costs, will spend $590 million on a rig capable of operating in 12,000 feet of water and has an option to buy a second at the same price. More »
The former CEO of Shell Oil argued this week that the politics of freezing drilling in the Gulf will lead to severe energy shortages in the U.S. Hyperbole or prescient thinking? Join the discussion. (AP file photo/Jeff Chiu) More »
Unit Corp., which does business as Unit Texas Drilling in Humble, will pay $579,910 in back overtime wages to 824 drillers, derrickmen and floor hands after a federal investigation found they had not been properly paid. (Image: Fotolia)
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