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.
Offshore rig operator Diamond Offshore Drilling (NYSE:DO) returned to profit with $11.6 million in Q1 earnings, a marked turnaround from its previous quarter loss.
The Ocean GreatWhite rig was working for BP in the West of Shetland when the incident took place
Rig operator Diamond Offshore Drilling (NYSE:DO) posted a loss of $145 million as it released its fourth quarter results.
The Ocean GreatWhite was working for BP around 125 miles west of the Shetland Islands.
Diamond Offshore Drilling Inc. said equipment on a rig under lease to BP Plc (LON:BP) accidentally broke free during a storm and sank to the bottom off the UK coast. No one was injured and no crude leaked into the ocean.
Ocean GreatWhite rig to continue existing contract with BP until August 2024 while Ocean Patriot will commence a new deal with Taqa in early 2025.
Diamond Offshore Drilling has appointed Bernie Wolford Jr as its president and CEO.
Rig contractor Diamond Offshore Drilling has emerged from chapter 11 bankruptcy after completing a financial reorganisation.
For Whiting Petroleum Corp. Chief Executive Officer Brad Holly, filing for bankruptcy had at least one perk: a $900,000 pay raise.
One of the two heavy lift vessels which arrived in the Moray Firth around New Year is finally leaving Scottish waters with a rig.
Oil and gas group Rockhopper has announced that it has signed a Letter of Intent (LOI), giving it exclusivity to Sea Lion Phase 1, in the North Falkland Basin.
Scottish environmental authorities have blocked the departure of three oil rigs currently cold-stacked in Cromarty Firth.
Diamond Offshore Drilling has settled a contract dispute with Brazilian firm Petrobras over the Ocean Valor rig.
Oil exploration and production company Azinor Catalyst has booked a rig to drill two UK North Sea wells later this year.
Diamond Offshore Drilling has posted a quarterly loss compared with a profit a year earlier.
Diamond Offshore Drilling, one of the world's top-five offshore rig contractors, reported a slightly higher quarterly profit, helped by demand for its high-tech ultra-deepwater rigs and a drop in operating costs. Demand is strong for modern, faster rigs because they are cheaper to run and can drill more efficiently for oil and gas companies, which have been cutting spending due to low prices. Diamond Offshore, owned 52 percent by New York-based conglomerate Loews, said on Monday that revenue from its ultra-deepwater business rose 72.8 percent to $315.7 million in the second quarter ended June 30.
Diamond Offshore Drilling has reported a loss of $319million in its first quarter results. The company, which is one of the top five offshore rig contractors, said it had to write down the value of eight rigs.
Diamond Offshore Drilling has reported its fourth quarter earnings for 2014 which were down $51million from the previous year. The company has reported a net income of $387million, compared to a net income of $549millon in 2013. Diamond was also hit with a non-cash impairment charge related to the retirement and scrapping of six mid-water semisubmersible rigs. Revenues for full year 2014 were $2.815 billion, compared to $2.920 billion in 2013.