Operators dropping or slimming drilling programmes have left drilling contractors with few options but to stack rigs at a pace reminiscent of the bust cycle of the late 1980s to early 1990s. “But ...

Currently Awilco Drilling's outlook is grim because WilHunter will be without work in December, meanwhile the market situation is weakening. A closer look reveals there is still hope for Awilco. Some ...

DICKINSON, N.D. — When oil prices drop and companies pull their drilling rigs into the Bakken’s core, the discharged derricks and associated equipment have to go somewhere — but not too far. The North ...

Competitors are stacking and retiring rigs, which could leave Seadrill in a better position in the future than it was a year or two ago. Retirements change the competitive environment When an offshore ...

Transocean Ltd. plans to scrap four of its offshore drilling rigs and stack four others, according to its latest fleet status update. Transocean Ltd. plans to scrap four of its offshore drilling rigs ...

SALT LAKE CITY (KUTV) — Five manufacturer equipment procedures were not followed, resulting in the collapse of a 130-foot drill rig, which injured one worker, nearly crushed another worker, and ...

Transocean Inc. RIG, an offshore drilling contractor based in Switzerland, announced plans to offload five stacked rigs as part of its efforts to optimize its rig fleet. The rigs to be retired include ...

Transocean decided to cold stack more rigs since they had no near-term job prospects. The company expects to run out of money by the end of 2021 and will have to rely on the $1.3 billion credit ...

This week's offshore rig review looks at the trends and changes in the number of rigs that are cold stacked around the world. This week, worldwide offshore rig utilization held steady at 83%, as 543 ...

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst ...