Transocean profit drops as rig glut leads to lower lease rates
Transocean Ltd., the world’s largest offshore driller, said today profit fell for an 11th straight quarter as a glut of rigs used to find oil and natural gas depressed lease rates.
View ArticleChesapeake shuns gas, shrinks rig count
Chesapeake Energy Corp., which calls itself America’s Champion of Natural Gas, said Tuesday it is basically giving up on gas drilling this year because it is not attractive to pursue new reserves of...
View ArticleTransocean in talks for four new deep-water rigs
Transocean is in discussions with an integrated oil company for the construction of four new ultra-deep-water drillships, which will cost about $3 billion, the company said Monday.
View ArticleNoble Corp. profits flat in fourth quarter
The CEO of drilling contractor Noble Corp. acknowledged disappointment with fourth-quarter earnings that came in flat, as increased downtime offset the higher rental rates for its rigs.
View ArticleDiamond Drilling earnings fall 13 percent
Diamond Offshore Drilling’s fourth-quarter earnings tumbled 13 percent from last quarter, as the company still struggles with the cost of increased industry regulation and rising costs of operating in...
View ArticleRockies rush boosts Anadarko’s earnings
A rush of oil from the Rockies helped to boost profits for Anadarko Petroleum Corp., a shift that captured the attention of analysts as executives detailed the company’s earnings on Tuesday.
View ArticleTransocean plans job cuts to focus on offshore business
Transocean Ltd. expects to achieve $300 million in annualized cost savings after a restructuring initiative that included divesting 38 offshore rigs in the fourth quarter and eliminating shore-based jobs.
View Article3-D simulators provide solution to workforce skills-gap (with video)
With at least 187 new rigs under construction or on order, the industry is going to need thousands of capable workers to staff them as soon as possible
View ArticleQ&A: Diamond Offshore prepares to staff rapid offshore growth
Diamond Offshore Drilling executives say they are preparing for an era of growth, with the number of offshore rigs expected to jump about 25 percent by 2017. Diamond CEO Lawrence R. Dickerson spoke to...
View ArticleDrilling rigs boom in Texas — and across the US
In case you were wondering whether there was really an oil Renaissance happening in Texas, the state has 838 drilling rigs – about 47 percent of all U.S. rigs and 26 percent of drilling rigs worldwide.
View ArticleHalliburton warns Mexico operations will lower quarterly profit margin
Halliburton Co., the world’s largest provider of hydraulic fracturing services, said its second- quarter operating profit margin will be negatively impacted by a decline in rigs working in Mexico as...
View ArticleRig count: Permian Basin dominates Texas rig activity
When it comes to oil and gas drilling, Texas remains in its own category.
View ArticleEnergy rigs in US decline by 12, Baker Hughes reports
Energy rigs in the U.S. have fallen this month after five straight quarters of declines. The count is set to rebound this year as producers respond to an increase in oil an natural gas prices,...
View ArticleFeds hope more rigs will become reefs with policy revisions
The popular rigs-to-reefs program, which allows operators to leave non-producing platforms deep in the Gulf as a makeshift home for underwater creatures, has been revised to encourage more operators to...
View ArticleEagle Ford Shale wells visible from space (photos)
NASA recently released another image of Texas at night, and it clearly shows Eagle Ford well sites lighting up the sky.
View ArticleMap shows hurricane progress toward oil assets
As hurricane season is kicking into full gear, the U.S. Energy Information Administration released an interactive map that details the real-time progress of storms in relation to energy installations.
View ArticleEnergy rigs advance as crude oil prices prompt more drilling
Oil and gas rigs in the U.S. advanced to a four-month high as drillers moved to take advantage of rising prices.
View ArticleWell plugging effort delays assessment of damaged Gulf rig
Hercules Offshore says it does not know yet how badly one of its Gulf of Mexico rigs was damaged in a blowout and fire last week, and cannot take a close look until a relief well permanently kills the...
View ArticleUS rig count dropped by four this week, Baker Hughes says
Energy rigs in the U.S. declined by four to 1,778 this week, according to Baker Hughes Inc.
View ArticleTemporary power companies growing in Eagle Ford
Companies that provide temporary power are in growth mode across South Texas as the region’s infrastructure catches up to the industrial demands of the Eagle Ford Shale drilling boom.
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