Featured (first)

Offshore drillers Ensco and Rowan in $12 billion merger

A Rowan jackup drilling rig. Rowan Companies photo

Offshore drillers Ensco plc and Rowan Companies plc announced yesterday that the companies will combine in an all-stock transaction. The agreement was unanimously approved by each company’s board of directors. The companies anticipate that the transaction will close during the first half of 2019.

Under agreement, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share. Upon closing, Ensco and Rowan shareholders will own approximately 60.5% and 39.5%, respectively, of the...

https://www.workboat.com/news/offshore/offshore-drillers-ensco-and-rowan-in-12-billion-merger/

U.S. now the largest global crude oil producer, EIA says

Ocean Confidence, a semisubmersible deepwater drill rig used in the Gulf of Mexico. Image via BOEM/Courtesy of Diamond Oil.

The Energy Information Administration (EIA) estimated in their latest Short-Term Energy Outlook released last week that the U.S. is now the largest global crude oil producer, likely surpassing Russia and Saudi Arabia.

In February, U.S. crude oil production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the U.S. surpassed Russia in crude oil production for the first time since February 1999.

The Department of Energy (DOE) also announced that on Sept....

https://www.workboat.com/news/offshore/us-now-the-largest-crude-oil-producer/

+ More