“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...
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...
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/
Offshore drilling contractor Seadrill Limited (NYSE & OSE: SDRL) has been awarded fixed-term contracts by Petrobras for its drillships, West Auriga and West Polaris. The contracts, which were obtained through a competitive bidding…
https://gcaptain.com/seadrill-secures-1-1-billion-contracts-with-petrobras/
As previously announced, offshore driller Seadrill Limited (NYSE & OSE: SDRL) has decided to close its London, England, office and consolidate its corporate office in Houston. Someone who won’t be making the move is Seadrill’s executive vice president and chief operating & technology officer, Leif Nelson, who instead will be departing the company.
In connection with Nelson’s departure, Seadrill has promoted Marcel Wieggers to senior vice president – operations, reporting directly to president...
https://www.marinelog.com/offshore/oil-gas/organizational-changes-at-seadrill/
On the first day of Christmas my true love gave to me… a partridge in a pear tree, according to the ancient English carol, but at Baird Maritime, that’s the cue for a dozen topical features about the offshore industry. Lovers of festive traditions get scrolling, as for the fourth year in a row, we […]
One of the delights of the offshore market recovery has been the surge in charter rates for platform supply vessels (PSVs) around the world. Tidewater’s triumphant presentation at the Barclays CEO Energy Conference earlier this month showed the potency of the market recovery that the company has driven ever onwards and upwards after its acquisition […]
This week was a great week for Transocean – the company announced it had secured a three-year award for the newbuild ultra-deepwater drillship Deepwater Aquila with Petrobras for work offshore Brazil starting next year on a day rate of around US$443,000 plus 90 days’ worth of mobilisation fees. In 2021, Transocean bought the rig for […]
The post COLUMN | Unlucky for some! Scotland’s Ferries; Argentina’s YPF Nationalisation; SBM sued by whistleblower; BP’s CEO quits [Offshore Accounts] appeared...
Tor Olav Trøim has enjoyed a stellar career in shipping. Now chairman of Golar LNG, a role he has held for more than five years, Mr Trøim has served as a director of th ..
The post COLUMN | Tor Olav Trøim, Golar LNG, diversity and carbon emissions equity [Offshore Accounts] appeared first on Baird...
Offshore drilling company Seadrill Limited has announced the successful all-stock acquisition of Aquadrill LLC. The acquisition, valued at $958 million, creates an industry-leading offshore drilling company with a modern and…