Offshore drilling giants Transocean, Noble and Valaris are ready to reactivate their hibernating deep-water drilling rigs as soon as the right customers materialise offering strong contracts. Demand ...

Modern offshore oil rigs are engineering wonders designed to accommodate massive crews and operate in some of the most hostile environments on Earth. As the demand for oil drives exploration into ...

Ten years after an oil rig explosion killed 11 workers and unleashed an environmental nightmare in the Gulf of Mexico, companies are drilling into deeper and deeper waters, where the payoffs can be ...

Willie Sutton robbed banks because that's where the money is. And oil companies venture into deep waters for exploration because that's where the oil is. That's why -- even though President Obama has ...

Off-shore oil drilling currently accounts for over 35% of the world's total oil production, and that number has consistently risen over recent history. While a majority of oil extraction takes place ...

The federal government on Monday told Noble Energy Inc. it could resume a deep-water drilling project halted last year by the Obama administration's moratorium — the first work of its kind to be ...

RIO DE JANEIRO, June 11 (Reuters) - Brazil could benefit from the BP Gulf of Mexico spill as a U.S. moratorium on offshore drilling boosts available rigs for the country's deep water oil exploration ...

Borr Drilling (NYSE:BORR) expects nearly a third of the global fleet of shallow-water rigs will be retired in the coming years, leading to higher daily leasing rates, CEO Patrick Schorn said Thursday.

The market isn’t pricing in the structural scarcity of premium offshore assets. The company boasts a $7.2B backlog, with increasing bidder interest supporting long-term revenue visibility. While bears ...

(AP) Transocean, a major offshore drilling rig contractor, is selling 38 of its shallow water rigs to newly-formed Shelf Drilling International Holdings Ltd. for about $855 million in cash. The Zug, ...