Posts filtered on Tag

transocean

(AP Photo/Gerald Herbert, File)

Chemical Safety Board prevails in Deepwater Horizon case

on
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

on
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

on
The CEO of offshore driller Transocean has stepped down effective Monday under a “mutually agreed” decision between him and the board.
(StockMonkeys.com/Flickr)

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

on
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.
rig_launch

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

on
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.
(Melissa Phillip/Houston Chronicle)

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

on
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.
A sign at the entrance to the Schlumberger campus in Sugar Land, Texas (AP Photo/Pat Sullivan, file)

Schlumberger to retire seismic vessels, take $800M impairment

on
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.
(Simon Dawson/Bloomberg)

Transocean idles three more rigs, stock falls

on
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.
(Melissa Phillip/Houston Chronicle)

Transocean to retire more rigs, execs say

on
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.
(Melissa Phillip/Houston Chronicle)

Transocean expects $2.76 billion in writedowns

on
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.