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Latest Offshore Rig News

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HOUSTON (AP) — Back-to-back punches from Hurricanes Gustav and Ike destroyed 60 oil and gas platforms in the Gulf of Mexico. But the U.S. Minerals Management Service today reports those structures represented only a small percentage of the region's ...

Gustav, Ike destroy 60 platforms - New Orleans Times-Picayune

MUMBAI: As crude oil prices continue their decline, new contracts for drilling rigs are also expected to be revised downwards. Drilling rigs, used for offshore oil drilling activities, have been on a trajectory for the last three years on the back of ...

Rig contracts get cheaper on renewal - Daily News and Analysis

DUBAI, Nov 27 (Reuters) - Oil service stocks have taken a hit as crude prices slump and the economy slows, but UAE-based Lamprell expects no slowdown in drilling plans in the world's top oil exporting region. U.S. crude has fallen nearly $100 to ...

UAE oil rig firm sees drilling as usual despite crisis - Forbes

The current global credit crisis and an over 63 per cent fall in crude oil prices in the last four months have resulted in oil companies drilling fewer wells in offshore areas. This has increased the availability of rigs across the world and helped ...

Rig rates down by 10 per cent - Business Standard

The drilling rig Dick Favor, owned and operated by Noble International, carried out the work over a period of 21 months. The drilling of the remaining two wellheads for the Qatargas 3 and 4 expansion projects is ongoing and scheduled to be completed ...

Qatargas completes drilling of 10 wells at offshore Well Head Platform ... - Energy Business Review

SINGAPORE, Nov 27 (Reuters) - Keppel Corp (KPLM.SI: Quote , Profile , Research , Stock Buzz ), the world's top offshore oil rig builder, warned on Thursday that three clients may cancel orders worth S$1.2 billion ($794.2 million), a sign companies ...

UPDATE 1-Keppel says clients may cancel orders worth S$1.2bln - Reuters

Global crude prices have crashed over the past few months and so has the stock market. But irrespective of the prices, the search for ‘black gold’ continues unabated across the world. A number of countries are battling falling crude oil ...

E&P cos' prospects seem promising due to strong order books - Economic Times

The company posted uninspiring results in the preceding two quarters due to changes in accounting of gains and losses in foreign exchange (forex). The company entered into port management and other related services via acquisition of a couple of ...

World scrambles for falling crude oil production - Economic Times

Merrill Lynch Downgrades Oil & Gas Equipment/Services Stock Baker Hughes (BHI) Appoints Derek Mathieson Chief Technology and Marketing Officer Baker Hughes Appoints Mathieson Vice President and Chief Technology and Marketing Officer Baker Hughes to ...

Merrill Lynch Downgrades Oil & Gas Equipment/Services Stock - StreetInsider.com

* Seadrill Q3 operating profits rise in line with forecasts * Company says ultra-deepwater rig market remains strong * Temporary halts dividend payments, no change in strategy (Adds quotes) OSLO, Nov 24 (Reuters) - Oilfield services company Seadrill ...

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