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  • Offshore Driller News

    Reports are that Rowan Companies newbuild jackup Rowan EXL-IV may have a signed contract in place by the end of this week. While the potential customer is not known, market intelligence indicates Apache Corporation could be the operator getting the rig. The LeTourneau Super 116-E design rig, delivered from the Keppel AmFELS yard in Brownsville, Texas, on September 1, is currently undergoing systems testing while waiting on work and is expected to leave the yard in October.

     

    Hall-Houston Exploration finally received its permit and now has jackup Hercules 212 on location in High Island Block 205. The ADTI turnkey well is expected to take around 30 days to complete. Meanwhile, jackup Hercules 214 has wrapped up operations for Apache Corporation in Main Pass Block 69 and is now on standby while it waits for its next contract to begin. That work will be for Phoenix Exploration Company, LP in nearby Main Pass Block 59 on a job that was switched from jackup Hercules 253. That rig is also on standby in West Cameron Block 38 while it waits to begin a threewell, 120-day contract with Hall-Houston, now expected to be in early October. Tana Exploration Company, LLC will then ...

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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 Driller News

    Further to a report in last week’s Gulf of Mexico Activity Report, jackup Rowan EXL-III is now scheduled to move to Grand Isle Block 16 for a three-well completion sublet with Energy XXI. The rig, which is under contract with McMoRan O&G through May 2012, completed the first well of that contract in May, but has been waiting on location in Brazos Block A-23 waiting on permit approval for the second well. Rowan hopes to be able to begin its second well with McMoRan upon completion of the Energy XXI work.

     

    Pemex has opened bids for jackup tender 509-11, with KCA Deutag and Diamond Offshore emerging as the low bidders. KCA jackup Ben Loyal was confirmed for a 759-day program starting August 15, while Diamond Offshore jackup Ocean Summit was the low bidder for a 985-day contract starting February 23, 2012. The final contract awards will be confirmed on June 28. The Ben Loyal completed a contract with Pemex in April and is now in Brownsville undergoing a five-year survey and overhaul program. The Ocean Summit began a 289-day contract with Pemex in March, with completion scheduled for December 31.

     

    Nabors Offshore newbuild inland barge Nabors BR-150 has ...

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  • Offshore Operator News

    W & T Offshore drilled the Main Pass 108 E-3 well during the fourth quarter of 2010. This conventional shelf exploration well logged over 300 feet of net vertical pay in six sands. The company owns a 100% working interest in the well.

     

    Energy Partners, Ltd. (EPL) has executed an exploration agreement with Phoenix Exploration Co., LP to explore deeper depths within the Company’s 100% owned East Bay field. The agreement covers producing horizons below approximately 14,000 feet.

     

    Cobalt International, Inc. estimates cash expenditures will be between $180 to $350 million for the year 2011, excluding any expenditures for Block 20 in Angola. Cash expenditures for 2010 were approximately $142 million.

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  • Offshore Driller News

    Noble Drilling reported that for the fourth quarter of 2010, it had earnings of $99 million on revenues of $614 million. In the same period in 2009, the company earned $446 million on contract drilling revenues of $894 million. For the full year 2010, Noble had net income of $773 million on contract drilling revenues of $2.69 billion versus net income of $1.68 billion on contract drilling revenues of $3.51 billion in 2009.

     

    Pride International has taken delivery of a third newbuild drillship, the Deepwater Mendocino, from Hyundai Heavy Industries in South Korea. The rig will depart the yard around mid-February and is expected to arrive in the US Gulf of Mexico in May. Pride has a five-year contract for the rig with Petrobras scheduled to begin in June, but given the ongoing dearth of well permit approvals, whether the rig will end up drilling in the Gulf remains to be seen. Pride’s recently delivered newbuild Deep Ocean Clarion, which has a five-year contract with BP, is rumored to be leaving the Gulf for Brazil, with departure possibly as soon as next month. Finally, reports indicate Pride is inching closer to finalizing an agreement to move newbuild Deep Ocean ...

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  • Offshore Driller News

    Seahawk Drilling, Inc. completed its contract with Hilcorp Energy Company with jackup Seahawk 2601 late last week, and the company has now moved the rig to Ship Shoal 181 to begin a newly awarded, one-well-plusoptions contract with Chevron. The initial well is expected to last around 40 days, keeping the rig busy to the second half of November. Option exercise is likely, but dependent on Chevron receiving permit approvals. Jackup Seahawk 2600 will wrap up operations for Tarpon Oil & Gas Company in East Cameron 240 in about a week. Reports are that Tarpon is trying to get a permit approved to keep the rig for an additional well, the status of which is not yet known. Meanwhile, jackup Seahawk 2007 will complete its contract with Breton Energy, LLC later this week, but it is understood Seahawk will shortly have follow-up work in place for the rig. Details will be published when they become available. Jackup Seahawk 2001 will also finish work in Ship Shoal 63 with PetroQuest Energy, Inc. late this week. The rig will then be moved to South Timbalier 56, where it will undergo required regulatory and survey work that will keep it out of commission until ...

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