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Month: May 2021

Transocean issues first quarter results

May 4, 2021
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Transocean’s First Quarter Highlights Total contract drilling revenues were $653 million (total adjusted contract drilling revenues of $709 million), compared with $690 million in the fourth quarter of 2020 (total adjusted contract drilling revenues of $747 million); Revenue efficiency(1) was 97.4%, compared with 97.2% in the prior quarter; Operating and maintenance expense was $435 million, compared with $465 million in the prior period; Net loss attributable to controlling interest

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Valaris emerges from bankruptcy and issues fleet status update

May 4, 2021
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Valaris Limited announced that the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group's Plan of Reorganization (the "Plan") was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1

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Rig Lynx Rewind: Record for Maersk Invincible: 2278m drilled in one day

May 3, 2021
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Originally published June 12, 2020 As part of a highly impressive campaign for Aker BP, the XLE jack-up became the first rig on the Norwegian Continental Shelf to go beyond 2000m on a 12 ¼” section inside 24 hours. During the spring of 2020, Maersk Invincible was breaking boundaries on the Valhall Flank West field operated by Aker BP. In the

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