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The Deepwater Horizon oil rig burns after an explosion in the Gulf of Mexico in 2010. (AP Photo/Gerald Herbert, File)

BP, Macondo contractors resolve oil spill claims against each other

Halliburton CEO Dave Lesar said the agreement closes out another chapter in the Gulf of Mexico saga for the oil field service company and restores its relationship with BP, one of its customers.
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

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.
With the Olympic Mountains in the background, the Polar Pioneer drilling unit  arrives in Port Angeles, Wash., aboard a heavy-lift transport ship. Shell hopes to use the rig for exploratory drilling in the Chukchi Sea off Alaska's northwest coast. (Daniella Beccaria/ via AP)

Judge orders Greenpeace to stay away from drill ships

U.S. District Court Judge Sharon Gleason on Friday also prohibited Greenpeace from flying unmanned vehicles over the offshore Arctic area where Shell plans to drill.
Transocean's Discover Seven Seas

Transocean names new CEO

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.
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

The drillship, called the Deepwater Asgard, will work in the Mississippi Canyon under a two-year contract with Transocean, a Swiss rig contractor
Transocean's ultra-deepwater drillship the Discoverer Inspiration works on an exploration well in Chevron's Moccasin Prospect in the Gulf of Mexico (Photo: Melissa Phillip/Houston Chronicle)

Transocean to scrap two more offshore rigs

The Swiss driller said it’ll take a non-cash charge up to $110 million in the first quarter.
(Melissa Phillip/Houston Chronicle)

Transocean to scrap four rigs, stack four others

The firm, which has its main U.S. offices in Houston, said Wednesday that scrapping the four rigs “in an environmentally responsible manner” will cost it $300 million to $325 million in non-cash charges during the first quarter.
(AP Photo/Gerald Herbert, File)

Chemical Safety Board prevails in Deepwater Horizon case

In a dispute over Deepwater Horizon documents, the International Association of Drilling Contractors has warned that a court ruling in favor of the Chemical Safety Board would upset decades of precedent governing the offshore oil sector.
(Simon Dawson/Bloomberg)

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.
Steven L. Newman, president and chief executiver officer of Transocean Ltd., testifies on Capitol Hill about the oil leak in the Gulf of Mexico in Washington, D.C., U.S., on Thursday, May 27, 2010. (Photographer: Brendan Hoffman/Bloomberg News)

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.