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Tag Archives: transocean ltd

And it begins–rig stacking

oil rig

With oil prices still decreasing, companies in the Permian Basin have begun the process of cold stacking their rigs. The term “rig stacking” consists of two different methods.  “Cold stacking,” means the releasing or stopped drilling of a rig.  “Warm stacking,” refers to temporarily take a rig off the market.  During “warm stacking” rigs still maintain basic operations and are ...

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Offshore drillers sales to fall in oversupplied market

Oct 21- The contrast in fortunes between offshore rig contractors struggling to get new business and land drillers betting on the shale-fueled drilling boom will get more stark over the next few weeks as they report third-quarter results. Revenue at onshore rig contractors such as Nabors Industries Ltd is expected to jump, suggesting that the sudden slump in crude oil ...

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