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  • Offshore Driller News

    Transocean Services AS, a wholly owned subsidiary of Transocean, Ltd., has announced an all-cash, voluntary offer for all Aker Drilling ASA shares for NOK 26.50 per share. Aker Drilling’s board unanimously recommended that shareholders accept the offer. The offer price indicates an equity market capitalization of about NOK 7.93 billion, or $1.43 billion, assuming an exchange rate of NOK 5.53 to U.S. $1.00. This represents a 62% premium to Aker Drilling’s 30-day average price of NOK 16.39 per share. Additionally, Aker Drilling has net debt of $0.80 billion. Aker Drilling operates two harsh-environment, ultra-deepwater, sixth-generation semisubmersible rigs currently on long-term contract to Statoil ASA and Det Norske Oljeselskap ASA in Norway. Aker Drilling currently is expected to take delivery in 2013 of two sixth-generation drillships currently under construction at the DSME shipyard in South Korea.

     

    ENSCO has signed contract extensions for two of its Gulf of Mexico jackups. First, Apache Corporation will keep the ENSCO 86 for another 120 days from the end of August. The rig is currently working in South Marsh Island Block 281 under the current term, which began May 1. Arena Energy has agreed to keep the ENSCO 90 for an additional two wells in ...

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  • Offshore Operator News

    Swift Energy Company announced 2Q 2011 production of 2.64 MMboe, 30% higher YOY but flat with 1Q 2011 production of 2.65 MMboe. In addition, the company has completed the LL&E No. 5 (Jelly Bowl) well with an IP rate of 2,294 b/d of oil and 1.2 MMcfd of gas in the Lake Washington field in Plaquemines Parish, Louisiana.

     

    Newfield Exploration Co. reported its deepwater Gulf of Mexico production in the second quarter of 2011 was 9 Bcfe. The company’s Pyrenees development, located at Garden Banks Block 293, is expected to commence production in late 2011 at about 50 MMcfd of natural gas and 2,400 b/d of condensate. Outside-operated developments, Axe and Dalmatian, are scheduled for first production in 2013.

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