Stena Drilling Pleads Guilty Over Fatal 2012 Rig Accident Off Australia

Stena Clyde. Photo: Stena Drilling

Stena Drilling has pleaded guilty in Australia to charges related to a fatal accident on board its Stena Clyde semi-submersible drilling rig in 2012 in which two people were killed. According to NOPSEMA, Australia's national regulator for the offshore oil and gas industry, Stena Drilling Australia Pty Ltd plead guilty to one charge in violation of clause 9(4) of Schedule 3 … [Read more...]

Oil Trades Near $60 as Retreat in U.S. Drilling-Rig Count Slows

Gulf Of Mexico Oil Rig And Workboat

byBen Sharples (Bloomberg) -- Oil traded near $60 a barrel as companies in the U.S. reduced the number of active rigs by the slowest pace since a prolonged retreat in drilling that began in December. Futures were little changed in New York after falling 1.7 percent on Friday. The number of rigs targeting oil dropped by one to 659, data from Baker Hughes Inc. … [Read more...]

Cheap Oil to Trigger Drilling Sector Take-Over Wave – Maersk Drilling

Diamond offshore semisubmersible upgrade shipyard

By Keith Wallis SINGAPORE, April 21 (Reuters) - The oil drilling industry faces a wave of take-overs in the next two years as crude prices are expected to remain under $85 per barrel, said Claus Hemmingsen, chief executive of Danish Maersk Drilling, on Tuesday. Oil prices have fallen by around 50 percent since June last year as soaring output clashes with slowing demand … [Read more...]

Local Support to Drill Offshore South Carolina Gains Traction

jackup rig derrick drilling

"Offshore energy exploration and production could be an economic game changer for South Carolina," says Congressman Jeff Duncan (R-SC) in a press statement this week. For South Carolina, the immediate issue is the pending decision by the Federal Bureau of Ocean Energy Management to permit seismic survey operations offshore. In parallel however, South Carolina residents are … [Read more...]

U.S. Proposes Opening Atlantic in 5-year Oil, Gas Drilling Plan

Screen Shot 2015-01-27 at 2.12.22 PM

WASHINGTON, Jan 27 (Reuters) - The Obama administration on Tuesday proposed allowing for the first time oil and gas exploration in a wide swath of U.S. waters off the Atlantic Coast. The new 2017 to 2022 drilling plan begins a process that could take many years before waters off the coasts of Virginia, North Carolina, South Carolina or Georgia are cleared for … [Read more...]

U.S. Seen Limiting Oil Drilling in Arctic, May Open Atlantic

cape hatteras lighthouse

By Mark Drajem and Jim Snyder (Bloomberg) -- The U.S. Interior Department will lay a framework as soon as Tuesday for oil exploration in the nation’s coastal waters in a five-year plan that is expected to withdraw areas off Alaska while possibly adding parts of the Atlantic. Republican Lisa Murkowski said the head of the offshore energy office told her the agency will … [Read more...]

Oil Drillers Under Pressure to Scrap Rigs

Energy Endeavor northern offshore rig jackup

By David Wethe (Bloomberg) -- Offshore oil-drilling contractors, who last year were able to charge record rates for their vessels, are now under pressure to scrap old rigs at an unprecedented pace. The recent five-year low in oil prices is threatening an industry already grappling with a flood of new vessels and weakening demand. More than 200 new rigs are scheduled to be … [Read more...]