+1(833) 396-4204 info@riglynx.com
Menu

Archives

8 rig years of backlog added in Q1 for Shelf Drilling

May 16, 2019
| Archives

Highlights: High Island V: Three-year contract with Saudi Aramco commenced in April 2019 Ron Tappmeyer: Three-year contract with ONGC in India with expected commencement in June 2019 Trident 16: One-year contract (plus options) with Petrobel in Egypt commenced in February 2019 Shelf Drilling Resourceful: Six-month extension with Chevron in Nigeria, now committed until October 2019 Adriatic I: 105-day extension with Sirius Petroleum,

Read More...

Pacific Drilling drops $84 million in Q1 but CEO says “We are encouraged by the upturn in utilizationâ€

May 16, 2019
| Archives

LUXEMBOURG–(BUSINESS WIRE)– Pacific Drilling S.A. (NYSE: PACD) (“Pacific Drilling†or the “Companyâ€) today reported results for the first quarter of 2019. Net loss for the first-quarter 2019 was $84.0 million or $1.12 per diluted share. EBITDA(a) for the first-quarter 2019 was $1.9 million. “Our strong operational performance, reflected by 98.1% revenue efficiency for the quarter, and focus on spend

Read More...

Transocean’s subsidiary “Sentry†raising $500 million

May 16, 2019
| Archives

STEINHAUSEN, Switzerland, May 15, 2019 (GLOBE NEWSWIRE) — Transocean Ltd. (NYSE: RIG) announced today that Transocean Sentry Limited (“Transocean Sentryâ€), a wholly owned indirect subsidiary of Transocean, commenced a private offering of U.S. $500 million in aggregate principal amount of senior secured notes due 2023 (the “Notesâ€) to eligible purchasers pursuant to Rule 144A/Regulation S. The Notes will be guaranteed by Transocean Ltd., Transocean Inc. and wholly owned indirect subsidiaries that

Read More...

Pacific Oil & Gas Ltd. to acquire Canbriam Energy Inc.

May 14, 2019
| Archives

CALGARY, May 13, 2019 /PRNewswire/ – Canbriam Energy Inc. (“Canbriamâ€) and Pacific Oil and Gas Ltd. (“PO&Gâ€) today jointly announce the signing of definitive documents for the acquisition by PO&G of all of the issued and outstanding shares of Canbriam for cash consideration (the “Transactionâ€). Canbriam’s Board of Directors has provided unanimous approval of the Transaction, and all of the

Read More...

Schlumberger sells off the drill pipe and fishing business for $400 million

May 14, 2019
| Archives

Wellbore Integrity Solutions (WIS), an affiliate of private equity firm Rhône Capital, and Schlumberger today jointly announced that they have entered into an agreement for WIS to acquire the businesses and associated assets of DRILCO, Thomas Tools, and Fishing & Remedial services, along with part of a manufacturing facility located on Rankin Road in Houston, Texas. The

Read More...

Bristow Files Chapter 11 Bankruptcy

May 13, 2019
| Archives

Bristow Group voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas on 11 May. The oil-and-gas helicopter operator says it intends to use the proceedings to restructure and strengthen its balance sheet and achieve a more-sustainable debt profile. Bristow states that its businesses will operate normally throughout the bankruptcy. Only the group’s

Read More...

Dolphin Drilling signs LOI with “un-named†partner

May 13, 2019
| Archives

Dolphin Drilling AS, a subsidiary of Dolphin Drilling ASA, has entered into a Letter of Intent (LOI) for a contract with an un-named operator in Norway for a one-well development drilling program in the North Sea, using the semi-submersible drilling rig Borgland Dolphin. The LOI is subject to final contract. The program is estimated to 70 days with a commencement

Read More...

Weatherford to file for Chapter 11 bankruptcy

May 11, 2019
| Archives

Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which at its peak was valued at more than $50 billion, never recovered from the 2014 oil price collapse. Efforts under Chief Executive Officer Mark McCollum to quickly sell

Read More...

5 Emerging Logistic Trends

May 10, 2019
| Archives

1. Warehouse Majors Invest in Automation in a Big Way Today’s business has increasingly become fast-paced. Highly demanding customers seek instant gratification on one side, and businesses, in a quest to do more with the finite resources on hand, try to optimize and accelerate their supply chain, on the other side. All this means not just larger volumes to

Read More...