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Diamond’s Ocean Guardian sold to Well-Safe

April 9, 2019
| Archives

The asset, currently owned by Diamond Offshore, has been a stalwart in the North Sea, drilling hundreds of wells since entering service in 1985. Upon delivery, Well-Safe will start work immediately on an upgrade of the semi-submersible, which will be renamed the ‘Well-Safe Guardian’, converting the asset into a bespoke plug and abandonment (P&A) unit. Well-Safe will invest in

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Bassoe: Floater Report – April 2019

April 8, 2019
| Archives

Floater fixtures have been relatively slow since our last report with only a few new contracts being awarded. The Maersk Deliverer’s 3-year contract with Inpex in Australia at $270,000 is strong even for a high-cost area. Fixtures in the North Sea continue to roll in, with the Odfjell-managed newbuild Beacon Atlantic securing 400-days with Neptune and the

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Saipem grabs up new drilling contracts totaling 200 million plus

April 6, 2019
| Archives

Saipem has been awarded new contracts in Offshore Drilling in Norway and Middle East totalling over 200 million USD. One contract was signed with the German company Wintershall for the drilling of 2 wells plus 2 optional ones in continuity with previous engagements for operations offshore Norway. The contract will be executed by the sixth-generation semi-submersible rig Scarabeo

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9.5 Billion Ecuador Judgment is Unenforceable Against Chevron

April 6, 2019
| Archives

Canada’s Supreme Court on Thursday declined to hear an appeal from a group of Ecuadoran villagers seeking compensation from the Canadian subsidiary of US energy giant Chevron over oil pollution in the Amazon jungle. The indigenous villagers from central Ecuador want the company to pay for pollution of native lands between 1964 and 1992 by Texaco, a US

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Two drilling companies issue LOI to merge

April 5, 2019
| Archives

Atlantica Tender Drilling Ltd. (“Atlanticaâ€) and Energy Drilling Pte. Ltd. (“Energy Drillingâ€) have today signed a Letter Of Intent to merge the two companies. The contemplated transaction will create a stronger company with improved capabilities and geographical presence, a starting point for further growth and consolidation in the drilling industry. Atlantica is a leading owner and operator of

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International Rig Count Update

April 5, 2019
| International Rig Count

Baker Hughes issued their international rig count data last week, here is the break down: The international rig count for March was 1,039, up 12 from the 1,027 counted in February, and up 67 from the 972 counted in March 2018. Latin America is up 6 units from the previous month to 188 and is down 5 units year-over-year. The

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Oil in Longest Run of Weekly Gains Since 2017

April 5, 2019
| Archives

  (Bloomberg) — Oil in New York headed for the longest weekly winning streak since November 2017 as crises from Venezuela to Libya threatened supplies, while optimism over U.S.-China trade talks buoyed the outlook for demand. West Texas Intermediate futures were little changed, poised for a fifth weekly increase. OPEC cut production for a fourth month in March, while

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