Offshore drilling contractor Diamond Offshore Drilling has confirmed an equipment failure involving its semi-submersible rig Ocean GreatWhite in the UK. The incident occurred February 1, 2024 while on contract with…
Diamond Offshore
COLUMN | Maersk/Noble: Danish retreat from oil and gas raises bigger questions [Offshore Accounts]
On November 10, drilling giants Noble Corporation and Maersk Drilling announced their merger (here). The new company will own 20 floaters and 19 jackups. Each company’s ..
COLUMN | “Oops!… I did it again” – Transocean, Saipem, Northern Drilling, Swire Pacific Offshore and Ocean Infinity [Offshore Accounts]
Pop star Britney Spears was so right when she warned of the dangers of repetition (here). Recent weeks in the offshore industry have seen several major players are doing ..
COLUMN | The Metals Company: what lies behind the subsea mining pitch? – Part One [Offshore Accounts]
There’s so much not to talk about this week. We’re not talking about Tidewater Earlier this month, industry leader Tidewater reported its quarterly results (here) wit ..
COLUMN | Do it yourself, Gulf style: Middle Eastern states invest in offshore oilfield services companies [Offshore Accounts]
In Saudi Arabia, Qatar and the UAE, public investment by petro-states is increasingly focused on squeezing out private sector businesses in oilfield services, especially ..
COLUMN | Falling Knives and Walking Away: Sete Brasil, Petrobras, Keppel Corp., Knarr Drilling and Magni Partners [Part Two]
Last week we looked here at how China State Shipbuilding Corporation has decided to restart work on a pair of unfinished deepwater drilling rigs in Shanghai Shipyard at ..
COLUMN | The twelve days of offshore Christmas: Brent Crude, ammonia fuel cells, Myanmar, floating wind turbines, Bourbon, and Standard Drilling – Part Two [Offshore Accounts]
Not long until Christmas now! As the big day gets closer, you will have seen Esvagt, Swire, Seacor, Cairn Energy, Vantage and Shearwater featuring in Part One of our ..
COLUMN | Saudi Arabia abolishes flogging: Saudi Aramco feels pain too [Offshore Accounts]
At the end of last month, Saudi Arabia abolished flogging as a punishment, welcome news to adulterers in Riyadh and Jeddah’s cyber-criminals. However, the kingdom has ..
Diamond Offshore Files for Bankruptcy Amid Historic Crude Crash
By David Wethe and Jeremy Hill (Bloomberg) — Diamond Offshore Drilling Inc., the rig contractor controlled by Loews Corp., filed for bankruptcy amid an unprecedented crash in crude prices that’s wrecking demand for oil exploration at sea. The company listed $5.8 billion of assets and $2.6 billion...