(Dow Jones) Jefferies says Chevron’s (CVX) sublet of a Transocean (RIG) ultra-deep-water drillship from Indian energy giant Reliance and plans to bring the rig to the US later this year signals recovery in the Gulf of Mexico. Built last year, the rig can drill in 10,000 feet of water and is leased to Reliance for 10 years at $508,000/day. By passing on cheaper and nearer available rigs, firm says CVX’s decision also shows the lengths international oil companies will go to employ the newest, most capable equipment — good news for drillers with similar ships on order.
(c) 2011 Dow Jones & Company, Inc.
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The Bureau of Ocean Energy Management (BOEM) is forging ahead with its offshore wind development plans in California, despite looming political uncertainties surrounding the incoming Trump administration. In a move...
Two of the world's biggest renewables players on Wednesday warned of challenges for the U.S. offshore wind sector under a presidency led by Donald Trump, flagging potential delays for the technology slammed by the president-elect.
A Russian Navy frigate equipped with new generation hypersonic cruise missiles has conducted drills in the English Channel and is carrying out tasks in the Atlantic Ocean, Russian news agencies reported on Tuesday.
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