Throughout 2015, the industry had remained hopeful that the downturn would be short-lived. During the summer, when oil prices temporarily buoyed, some believed that signaled that the market was on its way up again. However, prices trended downward after that, dipping below $40/bbl in the last quarter of the year. Many finally accepted the reality that this downturn would be lower for longer.

Riser gas events are not common, but they can occur suddenly and without warning, and they can have serious consequences. That’s why it’s critical to develop an action plan, Robert Ziegler, Global Director of Well Control Technology for Weatherford, said in a presentation...

In 2013, Marathon Oil and ConocoPhillips decided to retrofit the Maersk Valiant drillship for managed pressure drilling (MPD). Installation of the MPD equipment began in 2014, while the drillship made its way to the US Gulf of Mexico from the shipyard in South Korea.

Oil production has started under budget and ahead of schedule at the Julia oil field in the Gulf of Mexico, Exxon Mobil Corporation said. The first production well is now online and a second well will start production in the coming weeks.

In one of the only financings of a newbuild offshore oil/gas unit so far this year, Milbank, Tweed, Hadley & McCloy has advised BBVA, HSBC, Sabadell and Santander in providing non-recourse project financing to fund construction and operation of two offshore drilling units to be owned by affiliates of Grupo R for oil and gas exploration by Mexico’s state-owned petroleum company Pemex (Petróleos Mexicanos).

The US offshore drilling industry is on pins and needles awaiting the release of the final well control rule produced by the US Bureau of Safety and Environmental Enforcement (BSEE).

Songa Offshore has today taken delivery of Songa Enabler from Daewoo Shipbuilding & Marine Engineering (DSME) in Korea. Songa Enabler will shortly depart South Korea en route to Norway for commencement of an eight-year drilling contract...

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has delivered two jackup rigs to Mexican company, Grupo R...

The Bureau of Safety and Environmental Enforcement (BSEE) and The National Aeronautics and Space Administration (NASA) have announced a five-year agreement allowing BSEE to capitalize on the best risk management approaches from the aeronautics industry to inform stakeholders and further strengthen worker and environmental safety protections on the Outer Continental Shelf.

Located in Mauritanian waters, approximately 5 km northwest, and 200 m downdip of the basin-opening Tortue-1 discovery well in approximately 2,800 m of water, Ahmeyim-2 was drilled to a total depth of 5,200 m. As anticipated, in the Lower Cenomanian and Albian, Ahmeyim-2 penetrated the seismic-inferred gas-water contacts, defining the field limit and extending the productive field area from approximately 50 sq km to 90 sq km. Furthermore, the well confirmed significant thickening of the gross reservoir sequences down structure and importantly, within the Lower Cenomanian, static fluid pressure communication between the Tortue-1, Guembeul-1 and Ahmeyim-2 wells.