The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand.
Noble Corporation (NYSE:NE) has grabbed "first mover advantage" in an offshore rig market set for further consolidation, according to analyst firm Wood Mackenzie.
US offshore drilling rig operator Noble Corp has announced it will acquire smaller rival Diamond Offshore in a cash and stock deal worth around $1.59 billion (£1.25bn).
Stunning pictures of the Northern Lights have been captured from a North Sea oil rig by a lucky roughneck off the coast of Aberdeen.
Diamond Offshore (NYSE: DO) stands to lose more than $24m in revenues after a drilling kit collapse incident on a BP project in the West of Shetland.
Apus Energy has not responded to a request for confirmation that it has contracted the rig from Diamond Offshore. The company has committed to drilling in 2024.
The Ocean Patriot, released early from its Apache North Sea contract, is off to work for Repsol Sinopec.
Apache has hit out at the North Sea windfall tax for making the sector “less competitive” as it cancels a drilling contract in the UK sector.
Diamond Offshore has shared a dramatic image of an intense lightning strike near one of its drillships in the Gulf of Mexico.
An oil rig which was blocked from leaving the Cromarty Firth in 2018 appears to be preparing for a move.
Diamond Offshore (NYSE: DO) has been awarded $610 million of new contracts, with a new gig in the UK North Sea for the Ocean GreatWhite.
Apache North Sea has said it plans to boost its UK spending and headcount as it hands a rig extension deal to Diamond Offshore.
There remains no removal plan in place for an oil rig in the Cromarty Firth which has become a dangerous playground for thrill-seekers.
A YouTuber has been branded “beyond reckless” after scaling a North Sea oil rig laid up in the Cromarty Firth.
Woodside Energy has increased the cost of its Sangomar project to $4.6 billion, gross, from $4.2bn.
Despite the political and social turmoil in Myanmar, South Korea’s Posco International is sending a second deep-water drilling rig to the troubled Southeast Asian state to continue development work at the Shwe gas field.
Even when the Covid-19 downturn is finally past us, operators will have to continue exploring new avenues for cost reductions to be better equipped to withstand future market declines. In a report that looked into the adoption of robotics across the petroleum industry, Rystad Energy found that existing solutions could replace hundreds of thousands of oil and gas jobs globally and reduce drilling labor costs by several billion dollars by 2030, if there is an industry push for such a transition.
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Scrapping of offshore oil rigs needs to be significantly ramped up in order to end the “bankruptcy nightmare” of their owners, according to Bassoe Offshore.
Oil and gas decommissioning firm Well-Safe Solutions has acquired a second rig in a move it claims will spark the creation of about 100 new jobs.
UK operators will "struggle” to find semi-submersible rigs for work in the North Sea next year, according to new analysis.
Offshore drilling contractors are going bust at the fastest pace in three years as explorers spurn high-cost drilling to deal with a worldwide slump in commodity prices.
Diamond Offshore has received a warning from the safety regulator after “asbestos debris” was spread on a North Sea rig.
What in recent offshore industry terms were regarded as five of the most powerful brands in US drilling history are in deep trouble and the situation can only get worse.
Diamond Offshore Drilling Inc., the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea.