Hints and tips:
...In April, President Donald Trump ordered the department to “reconsider” the Obama-era regulations on offshore drilling. The oil and gas industry welcomed the announcement....
...Cost deflation has allowed approval of certain projects such as Mad Dog 2, BP’s deepwater offshore project in the US, while others are on hold or have been scaled back....
...Transocean, one of the world’s largest offshore drilling contractors, has warned that it expects to report a loss of more than $2.1bn and plans to stop paying its dividend for the rest of the year, as it...
...Transocean, one of the world’s largest offshore drilling contractors, is cutting its dividend by 80 per cent, in the latest sign of how the plunge in oil prices is hitting the industry....
...Switzerland-based Transocean said on Monday the industry faced “challenging” conditions that were likely to create an oversupply of offshore drilling rigs....
...The slow pace is partly due to a major review of Arctic offshore drilling carried out by the NEB, which was expanded in the wake of BP’s 2010 Deepwater Horizon disaster and led to a hiatus in new approvals...
...The Alaska disaster persuaded him and his design team to turn their attention to the problem of pollution from a deepwater leak, at a time when deepwater drilling was still in its infancy....
...Last year Transocean’s rigs, including the Deep-water Horizon, won an award for “outstanding drilling operations” from the US government’s Mineral Management Service....
...Prudential gained 2 per cent to 554p as L&G raised its stake from 3 per cent to 4 per cent....
...The news comes 152 days after the explosion on the Deepwater Horizon drilling rig that caused the world’s largest accidental offshore oil spill....
...Offshore drilling contractor Transocean has a 1.625 per cent convertible with a current yield to maturity of 8.3 per cent. By comparison, its corporate bonds yield only 6.15 per cent....
...As we are bullish on deepwater activity levels well into the next decade, we view Transocean as a core holding in the offshore drilling sector....
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