seadrill

Seadrill sells 2007-built jack-up West Prospero for $45M

Offshore drilling contractor Seadrill Limited (NYSE: SDRL) reports that it has completed the sale of the jack-up rig West Prospero for cash proceeds of $45 million.

“With the sale of the West Prospero , we have monetized a non-core asset that has been stacked since 2016 and successfully executed on our strategy to exit the benign jack-up market,” said president and chief executive officer, Simon Johnson.

The West Prospero is an independent leg cantilever jack-up drilling rig built in 2007 by...

https://www.marinelog.com/offshore/oil-gas/seadrill-sells-2007-built-jack-up-west-prospero-for-45m/

COLUMN | Drip, drip, drip: Marinakis orders eight PSVs; DSOC jackup moves; Paratus and Northern Ocean raise capital [Offshore Accounts]

There was only one story in offshore this week, the news that Greek shipowner Evangelos Marinakis has doubled down on this bet on the platform supply vessel (PSV) market by making the single biggest order in the entire segment in the last decade. His Capital Offshore has placed an order for four firm diesel-electric, DP2, […]

The post COLUMN | Drip, drip, drip: Marinakis orders eight PSVs; DSOC jackup moves; Paratus and Northern Ocean raise capital [Offshore Accounts] appeared first on Baird...

https://www.bairdmaritime.com/offshore/column-drip-drip-drip-marinakis-orders-eight-psvs-dsoc-jackup-moves-paratus-and-northern-ocean-raise-capital-offshore-accounts/

COLUMN | What could possibly go wrong? Local content in Nigeria, Brazil, Saudi Arabia and Qatar [Offshore Accounts]

“They come over here, taking our jobs and stealing our women,” is a familiar refrain against foreigners all around the world, as likely to be uttered from Dublin to Durban, from Dusseldorf to Des Moines, and from Denpasar to Dubai (well, probably not the second part in the UAE, but we won’t dwell...

https://www.bairdmaritime.com/offshore/column-what-could-possibly-go-wrong-local-content-in-nigeria-brazil-saudi-arabia-and-qatar-offshore-accounts/

COLUMN | Petrofac-ed, the Wood Group and Petroserv: restructurings and transformation [Offshore Accounts]

“Fix the balance sheet before you fix the business.” This was the sage advice we gave two weeks ago when we compared Tidewater to its moribund and indebted competitors. We noted that Hornbeck, Bourbon, and Edison Chouest still have some way to go in resolving their balance sheet problems. But if...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-petrofac-ed-the-wood-group-and-petroserv-restructurings-and-transformation-offshore-accounts/

COLUMN | Quick updates: Total buys a rig; Trident cans a rig; Standard sales succeed and fail; Saipem wins and loses corruption battles; Sapura hit with wind arbitration [Offshore Accounts]

Gong Xi Fa Cai, Kung Hei Fat Choi, and Chúc mừng Năm Mới! Happy Lunar New Year to all our readers, and welcome to the Year of the Dragon. At least, this is one time of year where nobody will be sneaking abandoned offshore rigs and supply vessels out of Chinese shipyards to the market […]

The post COLUMN | Quick updates: Total buys a rig; Trident cans a rig; Standard sales succeed and fail; Saipem wins and loses corruption battles; Sapura hit with wind arbitration [Offshore Accounts] appeared...

https://www.bairdmaritime.com/work-boat-world/offshore-world/column-quick-updates-total-buys-a-rig-trident-cans-a-rig-standard-sales-succeed-and-fail-saipem-wins-and-loses-corruption-battles-sapura-hit-with-wind-arbitration-offshore-accounts/

Seadrill books Petrobras contracts worth $1.1 billion

In another sign of the uptick in the offshore drilling sector, Brazil’s Petrobras has awarded Seadrill Limited a pair of 1,064-day fixed-term contracts for its drillships West Auriga and West Polaris.

Awarded in a competitive bidding process, the contracts are expected to commence in the fourth quarter of 2024 and represent a total contract value of approximately $1.1 billion, inclusive of additional services and mobilization fees. The Petrobras orders give a significant boost to Seadrill’s...

https://www.marinelog.com/offshore/seadrill-books-petrobras-contracts-worth-1-1-billion/

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