Seadrill proposes $4.8billion debt write-off – report
Offshore contractor Seadrill Ltd., owned by billionaire John Fredriksen, is proposing a debt write-off of just over $4.8 billion, according to Finansavisen.
Seadrill
Equinor hails Blasto as biggest discovery off Norway this year
Equinor has announced the biggest discovery so far this year on the Norwegian continental shelf (NCS).
Seadrill hit with coercive fine after ‘serious breaches’ identified on North Sea platform
Seadrill Europe Management has been hit with a coercive fine after “serious breaches” were identified on one of its North Sea platform.
Seadrill makes double change to senior management team
Seadrill has made a double change to its senior management team with Reid Warriner and Leif Neilson taking up the roles of chief operating officer and chief technology officer respectively.
VIDEO: Well-Safe Protector rig arrives at Invergordon ahead of decom work
The newly-refurbished Well-Safe Protector rig has arrived at Invergordon to get it ready for work in the decommissioning market.
Seadrill wins £39m of new contracts, confirms rig scrapping plan
Seadrill has bagged £39million worth of new contracts but confirmed plans to press on with scrapping a number of rigs in its fleet.
MRDS expands into the Middle East with the appointment of director
Drilling service firm MRDS has hired a director to spearhead its growth plans in the Middle East and North Africa (MENA).
Seadrill appoints new CEO
Seadrill has appointed Stuart Jackson as its chief executive, replacing Anton Dibowitz with immediate effect
Offshore rigs need scrapped to end industry’s ‘bankruptcy nightmare’ – Bassoe
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.
Decommissioning firm Well-Safe Solutions snaps up second rig
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.
‘Structurally broken’ offshore drilling sees wave of firms go bust
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.
‘Too many rigs carrying too much debt’ – Seadrill falls to £1.2bn loss and plans restructuring
Seadrill fell to a £1.2billion pre-tax loss at the start of the year off the back of heavy impairments for its rigs which are dropping in value.
Beijing triumphs in South China Sea oil spat
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
Tensions boil in South China Sea as Petronas drills
Tensions are rising in the resource-rich South China Sea following a recent standoff between Kuala Lumpur and Beijing over Malaysian oil and gas exploration.
QP kicks off drilling on North Field
Qatar Petroleum (QP) has begun development drilling on its North Field East (NFE) project, which will sustain its major LNG expansion plans.
Transformation on the cards for struggling offshore supply chain, Woodmac says
With margins staying “razor thin” and cost pressures continuing to bear down, the offshore supply chain may take on a “whole new look” this year, according to a Wood Mackenzie analyst.
Oil and gas industry works to increase awareness of human trafficking
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
Billionaire Fredriksen quits as chairman of struggling Seadrill
Billionaire John Fredriksen stepped down as chairman of Seadrill Ltd., the offshore-rig company he founded more than a decade ago and which is struggling with high debt amid a slow market recovery.
Sonangol rig arrested in Malaysia
Malaysian authorities have seized a drillship that was on its way to Angola.
Seadrill narrows losses, but floater reactivations on hold
Offshore rig contractor Seadrill narrowed its second quarter losses by delivering "solid operational performance", characterised by a utilisation rate of 96%.
Employment is shifting from shale to offshore, Rystad says
Rystad Energy has analyzed the oilfield service industry sectors with the highest percent change of employment, and found that the main driver of employment is shifting from shale to offshore.
Seadrill’s West Gemini drillship booked for Africa wells
Seadrill has secured a nine-well contract with three options, each for two wells, for the West Gemini in West Africa. Total contract value for the firm portion of the contract is expected to be approximately $84 million with commencement expected in early Q4 2019 and running through Q4 2020.
Oil industry’s debt woes not over over, top bankers warn
Offshore oil and gas bankers in Oslo are warning that the industry is far from out of the woods as a recovery is slow to take hold.
Seadrill’s debt in question as firm takes trading nosedive
Seadrill fell further in Oslo trading after Carnegie Investment Bank AB cut its target price by 88%, raising fresh concerns over the offshore driller’s debt.
Seadrill reports further losses as nearly half of rigs stay idle
Rig operator Seadrill increased its losses for the start of 2019 amid lower utilisation of its fleet.