Rigs NEWS

Drilling for oil in miles-deep ocean water is booming again with rig-rental prices forecast to climb another 18% after doubling over the past couple years, according to Wood Mackenzie Ltd.

Keppel claimed $440mn plus interest for the first rig million and $269mn plus interest for the second rig. Awilco has warned that any ruling against the company could result in bankruptcy.

The U.S. dropped four rigs week on week, according to Baker Hughes’ latest rotary rig count, which was published on March 3. The four rigs comprised two land rigs, one offshore rig, and one inland water rig, the count showed. The decrease takes the total U.S. rig count to 749, comprising 732 land rigs, 16 offshore rigs, and one inland water rig, Baker Hughes’ count outlined. Of the total U.S. rig figure of 749, 592 rigs are classified as oil rigs, 154 rigs are classified as gas rigs, and three are classified as miscellaneous rigs.

Two former senior managers of Singapore’s Keppel Offshore & Marine’s rig-building subsidiary Keppel Fels have escaped jail, instead being hit with fines after pleading guilty to historic corruption charges relating to overseas trips paid for by an official with steel products trading company Corus South East Asia to advance the latter’s business interests.

The U.S. Gulf of Mexico added six rigs week on week, Baker Hughes’ latest rotary rig count, which was released on February 10, revealed. The latest additions take the total U.S. Gulf of Mexico rig count up to 18, according to Baker Hughes, which highlighted that the total U.S. rig count increased by two week on week. Although the country added six offshore rigs week on week, it dropped four land rigs during the same time period, Baker Hughes outlined.

The U.S. dropped three rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on July 1. Baker Hughes’ latest count showed that the U.S. dropped four land rigs and added one offshore rig week on week. The total rig count in the U.S. is now said to be 750, comprising 730 land rigs, 17 offshore rigs and three inland water rigs. Of the 750 total, 595 are classified as oil rigs, 153 are classified as gas rigs, and two are classified as miscellaneous rigs. Canada’s weekly rig count increased by 12, according to Baker Hughes’ latest rig figures, which showed that the country’s total rig count now stands at 166. Of this total rig figure, 109 rigs are classified as oil rigs and 57 rigs are classified as gas rigs. North America’s total rig count now stands at 916, Baker Hughes’ count highlights.

The United States added six rigs week on week, according to Baker Hughes’ latest rotary rig count, which was released on November 5. The country’s total rig count now stands at 550, comprising 535 land rigs, 13 offshore rigs and two inland water rigs, Baker Hughes revealed. Of this total rig count, 450 rigs are categorized as oil rigs, with the remaining 100 categorized as gas rigs, Baker Hughes’ figures show.

U.S. energy firms added oil and natural gas rigs for a second week in a row as higher oil prices prompted some drillers to return to the wellpad. The oil and gas rig count, an early indicator of future output, rose eight to 448 in the week to May 7, its highest since April 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. That put the total rig count 74 rigs, or 20%, higher than this time last year. It was also up 84% since falling to a record low of 244 in August 2020, according to Baker Hughes

The number of oil rigs operating in the US rose again this week, with crude futures climbing more than 40% so far this year. Baker Hughes, yesterday, reported that the rig count increased by two oil rigs this week, putting the total count to 833. The rig count had remained on the downhill for the past four months while E&P companies were slashing expenses involved with new drilling.

ARO Drilling, a JV of Aramco and US-listed Rowan Companies, has been awarded six three-year contracts for jack-up rigs by Saudi Aramco. The rigs are already operating in the country. According to the statement from Rowan company, only after the completion of existing rig contracts, the new contracts will be initiated. Aramco is continuing with its run of awarding similar contracts and increasing its pace of offshore drilling activities.

With the assistance of a specialized marine and seaward engineering consultancy-Aqualis Offshore, ONGC has effectively moved 29 portable offshore drilling rigs at their respective monsoon locations preceding the Indian monsoon. Aqualis Offshore is providing marine warranty services to ONGC’s jack-ups rigs and mobile offshore production units (MOPU) in Indian waters. This huge logistic challenge has been taken up with great care and safety.