Transocean

Update: Shell Kulluk Rig Accident in Alaska

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Shell spent billions of dollars and significant political capital to obtain the licenses and approvals required to explore for oil and gas off the coast of Alaska.

The company’s problems in the region were compounded when a drilling rig ran aground in rough seas on December 31st as it was being towed from Alaska to the port of Seattle, Washington for scheduled offseason maintenance – the rig was not drilling at the time. Although there does not appear to have been a petroleum release, the risks associated with operating in the Arctic have been highlighted by the incident. Keep reading →

Published January 8, 2013 at 11:00 AM

Oil Companies Clamoring for Ultra-deepwater Rigs

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The global fleet of ultra-deepwater oil rigs was increasing steadily until April 2010, when regulatory aftershocks from BP’s Macondo disaster slowed its overall growth rate. But now, two years after the Gulf spill, there are indications that drilling in the ultra-deep could be poised for a long-term surge.

One of the key indicators is rig demand. And a Barclays equity research report says oil companies are clamoring for rigs designed to operate in water depths of 7,500 feet or more – the generally accepted threshold for the ultra-deep space. Keep reading →

Published September 20, 2012 at 8:30 AM