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 ..
Noble Corporation
COLUMN | A tale of six restructurings: Polarcus, Seadrill, Diamond Offshore, Siem Offshore, SeaBird Exploration, and Pacific Radiance [Offshore Accounts]
Charles Dickens offered only A Tale of Two Cities. This week, I offer a tale of no less than six restructurings, as the crisis in the offshore sector comes to a head. One ..
COLUMN | Falling knives and walking away: drilling contractors, Chinese yards, Korean cast-offs, Northern Drilling, SinoOcean and the Tiger rigs – Part One [Offshore Accounts]
Sometimes it is not only easier to walk away, but actually better The deepwater drilling industry is in crisis, as you know. In 2020, four major owners of deepwater rigs ..
COLUMN | Christmas turkey: Borr Drilling [Offshore Accounts]
Another Christmas Eve, another frantic effort from a struggling Norwegian offshore contractor to cobble together a deal with its creditors before the end of the year. A ..
COLUMN | Quick updates: BW Offshore, Cadeler, MMA Offshore, McDermott, James Fisher, Noble Drilling, Maersk Drilling, Ocean Infinity, Kris Energy and Rubicon [Offshore Accounts]
After announcing in October that it would liquidate the subsidiary that owns the FPSO Umuroa, and hand the idle vessel to the company administrators to maintain, remove ..
Noble Corporation secures rig contract extension in Guyana
Noble Corporation’s ultra-deepwater drillship Noble Tom Madden has been awarded approximately 6.5 years of additional contract term under the commercial enabling ..
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 ..