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Month: February 2019

Seadrill CEO: “The offshore drilling market continues to show signs of improvementâ€

February 26, 2019
| Archives

Seadrill just released their 4th quarter earnings results with strong message from their CEO: Highlights Revenue of $292 million Operating loss of $69 million Adjusted EBITDA of $73 million 96% economic utilizationReported net loss of $360 million and net loss per share of $3.62Total cash of $2 billion Seadrill Limited order backlog of approximately $2 billionAdded $89 million in backlog since our last

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Photo Share: Orlan Platform

February 25, 2019
| Archives

Name: Orlan Platform Location: Offshore Sakhalin Island, Russia Company: ExxonMobil Orlan is the first production platform installed a the Chayvo field on the Sakhalin shelf, approximately 11 kilometers off the east coast of Sakhalin Island. The Orlan platform is a gravity base structure (GBS) set in around 14 metres of water. The platform consists of three basic components:

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Bassoe: 20 years of backlog added for the jackups last month

February 25, 2019
| Archives

Over 20 years of jackup backlog has been added in February, and utilization is solid around 70%.  Fixture activity has been strong in the North Sea and Middle East, and dayrates are creeping up compared to late-2018. We expect this to continue as new awards are announced and look to Southeast Asia, Mexico, and West Africa for higher

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Enquest awards KCA Deutag a multi-million dollar contract for three platforms

February 25, 2019
| Archives

​Global drilling and engineering contractor KCA Deutag today announces that its Offshore business unit has been awarded a new drilling contract by Enquest Heather Limited (“Enquestâ€) for the Magnus, Thistle and Heather platforms. The multi-million dollar contract is for the provision of platform drilling services on all three platforms and came into effect on 1 January 2019. It has

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Weekly Rundown- Top 5 Posts of the Week

February 23, 2019
| Weekly Rundown

Welcome back to the Weekly Rundown where we share the top 5 hottest posts from this past week and more! This week in the #1 spot we have the National Geographic Debut of “Deepwater Horizon – In Their Own Words†that brings the real life story of the survivors and the heroes of that night. Following up is

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U.S. and Canada both drop rigs this week

February 22, 2019
| Weekly Rig Count

  Baker Hughes, a GE company has posted Weekly Rig Count reports. Baker Hughes Rig Count: U.S. -4 to 1,047 rigs U.S. Rig Count is down 4 rigs from last week to 1,047 rigs, with oil rigs down 4 to 853 and gas rigs unchanged at 194. U.S. Rig Count is up 69 rigs from last year’s count of 978, with

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Ensco inks new contracts with fresh fleet update status

February 21, 2019
| Archives

Ensco PLC issued an update for their fleet, some new contracts in the mix New Contracts and Extensions Floaters: ENSCO 8503 awarded a four-well contract with Apache in the U.S. Gulf of Mexico that is expected to commence in June 2019ENSCO DPS-1 awarded a two-well contract with Woodside offshore Australia that is expected to commence in February 2020ENSCO

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Shelf grabs 4 new CJ46 Jackups

February 21, 2019
| Archives

Shelf Drilling, Ltd. has today entered into agreements with affiliates of China Merchants & Great Wall Ocean Strategy & Technology Fund regarding the acquisition of two newbuild premium jack-up rigs (CJ46) for a purchase price of USD 87 million per rig and Bareboat charters of, and the option to buy, two additional CJ46 jack-up rigs. David Mullen, Chief

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Transocean retiring the Eirik Raude

February 20, 2019
| Archives

Jeremy D. Thigpen, President and Chief Executive Officer had this to say during the Q4 earnings call yesterday concerning the 2002 Bingo 5th gen harsh environment semi submersiable “Eirik Raude†: “Also in furtherance to our fleet strategy, we announced the retirement of eight, older, less marketable assets in 2018 and just recently announced our intention to retire

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