Maersk Anchor Handler Rescues Fallen Rig Hand from Seadrill’s West Hercules

Seadrill West Hercules

A rig worker assigned to the West Hercules, a semi-submersible drilling rig owned by Seadrill and on contract to Statoil, fell overboard this morning which the rig was operating approximately 500 kilometers east of St. John's, Newfoundland. According to a report by Canadian authorities, the person was recovered by the Fast Rescue Craft deployed from the nearby anchor handling … [Read more...]

Farstad Stacks Two, Seadrill Loses Huge BP Contract

west sirius drilling rig

Farstad Shipping's CEO Karl-Johan Bakken says today, "very demanding" conditions in the offshore market has forced his company to lay up two of their platform supply vessels and regretfully give notice to competent employees while new work is sought for the PSVs Far Server and Far Spica.  Bakken certainly isn't the only one making tough decisions these days as Hornbeck … [Read more...]

North Atlantic Drilling’s Deal with Rosneft Postponed Again

west alpha kara sea rosneft

OSLO, April 17 (Reuters) - North Atlantic Drilling, a subsidiary of offshore rig company Seadrill, has delayed closing a cooperation deal with Russia's Rosneft by two years and agreed to renegotiate the terms of the agreement, it said on Friday. Western sanctions against Russia, and Rosneft in particular, have raised concerns about the proposed $4.1 billion deal and have … [Read more...]

John Fredriksen Sails Into Rig Storm of Up to 3 Years

Seadrill Semi-Rig West Pegasus

By Mikael Holter (Bloomberg) -- Billionaire John Fredriksen has sailed through troubled waters before. This time, he plans to make the most of a brutal downturn in offshore drilling amid a slump in oil prices and a glut of new rigs. Seadrill Ltd. said last month that the rig company 24 percent owned by Fredriksen is ready to acquire rivals or assets “when the time is … [Read more...]

Seadrill Unit Says Rosneft Rig Contract Difficult to Conclude as Scheduled

The West Rigel is a 6th generation semi-submersible based on the Moss Maritime CS60 design. Illustration courtesy Seadrill/North Atlantic Drilling

OSLO, March 16 (Reuters) - North Atlantic Drilling warned on Monday it would be difficult to conclude as scheduled a contract with Russia's Rosneft due to weak market conditions and the challenging political environment. Western sanctions against Russia, and Rosneft in particular, have increased concerns about the conclusion of a $4.1 billion deal between the two … [Read more...]

Seadrill Braces for Two More Years of Rig Pain on Oil Slump

Seadrill Semi-Rig West Pegasus

By Mikael Holter (Bloomberg) -- Seadrill Ltd., the offshore oil driller controlled by billionaire John Fredriksen, said the rig market is unlikely to recover for at least two years following a slump in crude prices. “You may see a stabilization in 2017,” Chief Financial Officer Rune Magnus Lundetrae said in an interview in Oslo. “That means you get day rates that at least … [Read more...]