Transocean’s Deepwater Expedition, Transocean Legend, Transocean Rather, and GSF Arctic III are all heading to the scrapyard according to the company’s latest fleet status update. This list adds to the eleven rigs identified last December for scrapping.
The company also notes that four of their ultra-deepwater rigs have just been officially stacked including the Discoverer Spirit, GSF Jack Ryan, Deepwater Discovery, and Deepwater Pathfinder.
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A consortium led by U.S. oil major Chevron signed exclusive lease agreements on Monday to look for natural gas off southern Greece, expanding the United States' presence in the eastern Mediterranean.
Transocean and Valaris have agreed to merge in an all-stock deal valued at about $5.8 billion, creating a $17 billion offshore drilling giant with a 73-rig fleet and an industry-leading $10 billion backlog.
Equinor expects 10-20% production decline at Johan Sverdrup, Europe's largest oil field growth source. The decline signals broader challenges for global oil supply amid aging fields.
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