Vantage Drilling has been awarded a nine-month extension for the Aquamarine Driller jackup that is operating in the Malaysia/Thailand joint development area. The jackup has been under contract with Carigali-PTTEP Operating Co. (CPOC)…
A Norwegian newcomer with ties to Seadrill, Borr Drilling, is set to acquire Transocean’s entire jackup fleet, including newbuilds, in a US$1.35 billion deal. The Constellation II jackup. Image from Transocean…
2016 was a year of huge challenges for the offshore drilling rig sector as the low oil price environment and reduced E&P spending continued to bite. Stephen Gordon, of Clarksons Research, charts the state of the market, which is arguably facing some of its toughest times since the 1980s…
US offshore drilling contractor Rowan Companies and Saudi Aramco have signed a deal to create a new offshore rig outfit. The new organization will be a 50/50 joint venture (JV) which will own, operate, and manage offshore drilling rigs in Saudi Arabia…
Statoil awarded Coast Center Base (CCB) a contract for the reception and preparation of the two new category J rigs for Statoil: Boots and the Cinderella. The rigs are being built at the Samsung Heavy Industries shipyard in South Korea and are expected to the delivered in Q2 2017…
Seadrill has received a notice of termination from Pemex for the West Pegasus drilling contract, effective 16 August 2016. Seadrill says it has disputed the grounds for termination and is reviewing its legal options. During Q2 2015…
Rig operator Seadrill has received three-year contract extensions from Saudi Aramco for the jackups AOD I and AOD II expiring in June 2019 and July 2019, respectively. The extensions are in direct continuation of the current contracts…
Offshore drilling services provider Ensco has revealed several global contracts in its latest fleet status report, along with its decision to sell several of its rigs for scrap value. Image from Ensco…
Mexico's Pemex has cut short a contract for use of Aban Offshore's jackup Deep Driller I. Pemex served a notice of termination 'purporting to exercise its contractual right to terminate the charter' for the rig, said Aban, effective 1 June 2016…
Drilling giant Transocean swung back into profit in Q1 2016, despite revenues having hemorrhaged compared to Q1 2015. Rig utilization was 51% in Q1, compared with 60% in the prior quarter, and 79% in the same period last year. Utilization is lowest in the ultra-deepwater floater segment…
Transocean, has opted to delay delivery, and final payments, on two dynamically positioned ultra-deepwater (UDW) drillships currently under construction at Sembcorp Marine's subsidiary Jurong Shipyard. The proprietary Jurong Espadon…
Saudi Aramco has extended a contract with Hercules Offshore for the Hercules 266 jackup, for work offshore Saudi Arabia. The contract extension will last until 30 June at a dayrate of US$63,650. The original contract was set to end this month…
Keppel FELS has delivered two jackup rigs to Mexico's Grupo R. Built to Keppel's proprietary KFELS B Class design, the rigs, CANTARELL I and CANTARELL II, will be chartered to PEMEX for operations in the Cantarell oil field offshore Mexico…
Global offshore drilling giant Transocean has set back the delivery date for five new jackup rigs by nearly four years. In an agreement with rig builder Keppel Offshore & Marine's shipyard, Keppel FELS, delivery of the five Super B 400…
Most of the news in the rig market is bad, but there are bright spots if you look hard enough. Audrey Leon sets out the details. Image from OE Staff. Not much has changed for…
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