Use of offshore rigs sees ‘largest monthly drop for 20 years’ – Rystad
Use of offshore drilling rigs globally has seen the largest monthly drop in 20 years, according to analysis from Rystad Energy.
Valaris
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.
UK operators will ‘struggle’ to find rigs for North Sea work in 2021 – Bassoe
UK operators will "struggle” to find semi-submersible rigs for work in the North Sea next year, according to new analysis.
‘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.
Valaris, world’s largest offshore driller, files for Chapter 11 bankruptcy
Valaris, the world’s largest offshore drilling firm, has filed for Chapter 11 bankruptcy with a plan it said would reduce its debt by $6.5billion.
Aramco pauses Shelf contract
Saudi Aramco has paused its contract for the High Island IV jack-up rig, owned by Shelf Drilling.
Acteon hires ex-Ensco boss as new CEO
Marine energy service firm Acteon Group has hired Carl Trowell as its chief executive, replacing Richard Higham.
Furlough extension ‘welcomed’ but unlikely to halt North Sea redundancies, industry chiefs warn
North-east energy sector chiefs largely welcomed an extension of the UK Government furlough scheme, but cautioned it may do little to roll back the tide of oil and gas redundancies.
Multiple workers evacuated from Valaris North Sea rig with suspected Covid-19 symptoms
A group of workers have been evacuated from a Valaris drilling rig working in the North Sea due to concerns over an outbreak of Covid-19 onboard.
Debt hyenas are circling stricken rig contractors
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.
Aberdeen MSP tells North Sea firms not to ‘turn their back’ on workers during Covid-19 crisis
An Aberdeen MSP has written to a clutch of North Sea firms calling on them to reconsider their decision to terminate hundreds of staff rather than use a UK Government-backed furlough scheme.
Impairments sink Valaris to a £2.5billion loss
Rig operator Valaris fell to a £2.5billion pre-tax loss for the first quarter of 2020 due to write-downs on its oil and gas assets.
Valaris sets out plans to cut up to 332 jobs
Drilling firm Valaris has set out plans to cut up to 332 jobs across its offshore rig fleet as contracts are cancelled amid the Covid-19 pandemic.
Texo Group tackles integrated service on Valaris 123
Texo Group has been delivering a range of services on Valaris 123 at the Port of Dundee including its rebranding.
Valaris could make up to 600 workers redundant as rig contacts dry up
Drilling firm Valaris has informed staff it could make hundreds of redundancies as rig contracts have dried up due to the recent slump in oil prices.
Valaris set to undertake drilling works at Premier Oil’s Catcher field
Drilling firm Valaris is set to undertake drilling and subsea work at Premier Oil's North Sea Catcher field next week.
Total, Chevron terminate Valaris rigs off Angola
Total and Chevron have cancelled rigs contracted from Valaris, working in Angola, the drilling company has announced.
Price plunge fires up short sellers
As prices have plunged, interest in short selling of oil companies has increased.
Valaris drops BOP off Angola
The Valaris DS-8’s blowout preventer (BOP) dropped to the seabed on March 7 and the company is now trying to retrieve it.
Crane collapses on second Valaris-operated North Sea rig within a month
The Health and Safety Executive (HSE) has launched an inquiry after a crane collapsed on a second Valaris oil rig within a month of each other.
Updated: North Sea drilling rig’s crane collapses
A crane on a drilling rig in the UK North Sea has collapsed, shocking images show.
Seven people banned from oil vessels in Scotland after Extinction Rebellion protest at Dundee rig
Seven people have been banned from all oil vessels in Scotland after they appeared in court accused of scaling a Dundee rig on Monday.
Valaris pockets $200m after winning Samsung Heavy Industries dispute
UK headquartered driller Valaris has received a $200 million cash payment after winning a case against Samsung Heavy Industries (SHI).
One-Dyas confirms oil discovery in southern North Sea
Dutch firm One-Dyas has confirmed an oil discovery with its Ossian-Darach well in the southern North Sea.
Valaris wins North Sea contract extensions as part of £220m revenue backlog
Drilling contractor Valaris has announced a number of North Sea contract extensions among a clutch of global deals.