Tag: transocean

Transocean could take only a week to shelve out-of-work rigs, execs say

Transocean reported a loss in the fourth quarter as it took a $992 million goodwill impairment charge on the sinking value of its drilling business and other charges, it said late Wednesday.  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 »

Appeals court won’t rehear a BP oil spill liability argument

A federal appeals court has refused to reconsider its 2014 ruling that BP cannot avoid federal penalties for the 2010 Gulf of Mexico oil spill by blaming another company’s failed equipment.  More »

Court OKs $2.86 billion merger between C&J, Nabors unit

C&J Energy’s shareholders shouldn’t have been barred by a judge from voting on whether to approve the deal with Houston- based Nabors, the Delaware Supreme Court ruled today.  More »

Transocean to scrap seven more rigs, take $140M charge

Transocean is planning to scrap seven of its older, lower-quality deep-water and mid-water vessels, putting them up for sale at a time when oil prices and demand for offshore rigs have sunken lower.  More »

Schlumberger to retire seismic vessels, take $800M impairment

Oil field service giant Schlumberger will probably take an $800 million impairment charge in the fourth quarter as it retires some units in its marine seismic fleet, the company said Tuesday.  More »

Transocean idles three more rigs, stock falls

Transocean’s fleet of deep-water drilling machines has been under pricing pressure and has faced lower demand amid falling oil prices and a glut in equipment.  More »

Transocean to retire more rigs, execs say

Transocean lost billions of dollars in the third quarter as it faced sinking demand for offshore rigs and as it wrote down the value of its drilling business.  More »

Transocean expects $2.76 billion in writedowns

Swiss drilling contractor Transocean has written off $2.76 billion in book value for its offshore rigs as it faces falling day rates and weaker demand for deep-water drilling.  More »

Statoil suspends two North Sea oil rigs

Statoil won’t use the Transocean Spitsbergen and Songa Trym rigs from mid-November through at least the year-end because of overcapacity.  More »

Commentary: Is the Deepwater Horizon movie a good idea?

The movie based on the BP Deepwater Horizon oil disaster starring Mark Wahlberg is set for release Sept. 30, 2016.  More »

Key testimony in BP oil spill ruling wasn’t excluded, DOJ says

That evidence played prominently in the judge’s finding that BP, owner of the Macondo well, was grossly negligent, a ruling that raises the stakes for the oil major  More »

BP swipe at “reckless” ruling hinges on challenge to Halliburton expert

BP’s attempt to unravel a verdict that its recklessness caused the Deepwater Horizon oil spill hinges on its legal and scientific challenge to the testimony of one expert and its bid to cast more blame for the disaster on cement contractor Halliburton.  More »

Anadarko wants rehearing on oil spill fines

The Woodlands oil explorer wants to clear its name of oil spill penalties stemming from its involvement in the Deepwater Horizon disaster in 2010.  More »

BP says judge’s fact findings should limit its spill liability

BP is arguing in court that certain findings in a federal judge’s recent ruling actually work in its favor.  More »
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