Transocean Offshore Deepwater Drilling, Inc. (TODDI) has filed a motion for summary judgment in the U.S. Eastern District Court in Louisiana requesting the court to force BP to honor its contractual obligation to defend, indemnify and hold harmless Transocean for damages associated with BP’s failure to contain flow from its Macondo well in 2010. Transocean says BP has refused to honor its contractual obligations despite what Transocean says is the industry-standard reciprocal indemnity provisions contained in the drilling contract. The original contract was signed in 1998 and extended several times up to and including in 2009. Language in the contract says BP will “defend, release, protect, indemnify and hold harmless” Transocean for any and all fines, penalties and damages associated with environmental pollution originating from the well “without limit and without regard to the cause or causes” including negligence, “whether such negligence be sole, joint, active, passive or gross.” The motion also asserts that after months of discovery and over 200 witness dispositions, it was clear that no evidence of gross negligence by Transocean existed. BP filed suit against Transocean on the one-year anniversary of the incident, alleging that Transocean personnel had willful and callous disregard for the welfare of ...

In the wake of the Deepwater Horizon tragedy, the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE) reported it has issued 67 new shallow water well permits since new standards were put in place during June 2010. Permits have averaged more than six per month over the past eight months. In addition, the agency has approved deepwater permits for 26 unique wells since mid-February, with 19 permits pending, and 26 permits returned to operators requiring additional information.

BP has exercised its six-month option on the contract of Transocean drillship Discoverer Enterprise, and the operator further agreed to an additional one-year extension for the rig. The six-month extension, which keeps the day rate at $435,000, will begin August 1, 2012, with the one-year term beginning January 2012 at a rate of $492,000. The rig, which recently underwent a deep cleaning and decontamination process after completing work at the Macondo oil spill site in Mississippi Canyon Block 252, is currently on standby for BP in Grand Isle Block 61.

Diamond Offshore semi Ocean Saratoga has completed its sublet contract for Nexen Petroleum in Green Canyon Block 50. The rig’s contract with Taylor Energy is now completed and the rig ...

Rowan Companies reported a net income of $32.1 million on revenues of $364.3 million for the three months ended March 31, 2011. That compared to a net income of $64.6 million on revenues of $432.4 million for the same period in 2010. Transocean, Ltd reported that for the three months ended March 31, 2011, it earned net income of $310 million on revenues of $2.144 billion versus net income of $677 million on revenues of $2,579 billion. Parker Drilling said it had a net income of $4.8 million on revenues of $156.2 million for the first quarter of 2011 compared to a net loss of $2.1 million on revenues of $157.6 million for the first three months of 2010. Atwood Oceanics said it earned net income of $70.6 million on revenues of $159 million for the first three months of 2011 versus a net income of $66.7 million on revenues of $159 million for the same period a year ago.

Diamond Offshore jackup Ocean Titan has moved to Ship Shoal Block 290 to begin the final well of its contract with ANKOR Energy. Operations are expected to last around 30-days. Also, jackup Ocean Columbia is now on location in ...

Jackup Noble Bill Jennings has arrived in Mexico from the U.S. Gulf and begun its recently awarded 286-day contract with Pemex. Work will keep the rig busy through the remainder of 2011. In addition to that rig, four additional Noble jackups currently located in the U.S. Gulf, will mobilize shortly to Mexico to begin new contracts with Pemex. Noble also reports that jackup Noble Leonard Jones, which also was awarded a contract from Pemex in recent tender 503-11, started its program, a 272-day term on March 19. The rig, which was warm stacked in Mexico, is now busy until mid-December. Finally, Noble reports that jackup Noble Sam Noble, which completed a 75-day contract extension with Pemex at the end of January, is now enroute to the U.S. Gulf. The rig should arrive this week and will be stacked in South Padre Island 1147 where the company’s other units are currently located. As was the case with the other jackups Noble moved here from Mexico, there is no intent to work the rig in the U.S. Gulf.

ATP O&G has received a permit to resume drilling its ATP Titan floating production platform in Mississippi Canyon 941 #4 well, marking the ...

Rowan Companies reported net income of $57.3 million on revenues of $458.8 million for the three months ended December 31, 2010. That compares to net income of $60.8 million on revenues of $399.8 million for the same period in 2009. For 2010, Rowan had a net income of $280 million on revenues of $1.82 billion versus a net income of $367.5 million on revenues of $1.77 billion in 2009. Ensco, PLC reports it had a net income of $142.9 million on revenues of $408.5 million for the fourth quarter of 2010, compared to a net income of $248 million on revenues of $497.8 million for the same period in 2009. For 2010, the company generated net income of $579.5 million on revenues of $1.69 billion versus net income of $779.4 million on revenues of $1.89 billion in 2009. Transocean, Ltd. reported a net loss for the three months ended December 31 of $799 million on revenues of $2.16 billion. That compares to net income of $723 million on revenues of $2.733 billion for the same period in 2009. For 2010, the company had net income of $961 million on revenues of $9.576 billion, compared to a 2009 net income of ...

Jackup Seahawk 2602 completed its contract with Energy XXI USA, Inc. late last week. The rig is now stacked on location in Main Pass Block 61, but Seahawk will move it later in the week to its stacking location in South Timbalier Block 56. Meanwhile, jackup Seahawk 2001 is finished with its well in Main Pass Block 64 with MEDCO Energi International. The rig will begin moving Tuesday, October 5, to Ship Shoal Block 63, where it will undertake a 15-day workover for PetroQuest Energy, Inc. The rig is then available in the second half of October. Jackup Seahawk 2004 will now finish its contract with Bandon Oil & Gas in Vermilion Block 196 in mid-October. The rig was originally scheduled to wrap up work at the end of September, but delays with the well completion will extend the completion date.

Argentine oil company YPF SA will begin a $120 million exploration program late this year or early in 2011 off Tierra del Fuego in the Falklands Islands Basin. The company will be part of a consortium including Pan American Energy, LLC and Petrobras and will drill in water depths up to 2,000 fsw by Stena Drilling. YPF says ...