Day Rate

Home>Topics>Day Rate
Refine Results
  1. All
  2. Articles
  3. Online Articles
  1. Pressure on rates, competition impact Topaz’s vessel revenues

    Offshore staff DUBAI, UAE – Topaz Energy Marine Services ’ revenues for the first nine months of this year were down 21.2% compared with the same period last year. One of the main factors was day rate reductions for the company’s offshore support vessels (OSVs) on long-term contracts. CEO René Kofod-Olsen said: “As the OSV sector challenges continues relentlessly, market recovery remains unpredictable. Charter rates have fallen sharply despite the oil price recently leveling off in the $45-50/bbl range. Recent production cut initiatives between OPEC members is the only positive development.” In the Caspian region, the company achieved 94% use of its core fleet. However, in the North Africa Middle East region, the combination of a weak market and increased competition for spot work pushed vessel utilization below 60% for the nine-month period, compared with an average of 85% in previous years. Offshore West Africa, the company managed 45% use of its support fleet, against what it claims is a regional benchmark of 31%. 12/02/2016

    Online Articles

    Online Articles

    Fri, 2 Dec 2016

  2. Providence signs terms for deepwater well offshore Ireland

    Providence Resources has contracted the drillship Stena DrillMAX to drill a deepwater well offshore western Ireland next June, subject to regulatory approvals.

    Online Articles

    Online Articles

    Tue, 29 Nov 2016

  3. Seadrill secures short-term contracts, newbuild delivery deferrals

    Seadrill has issued an update on its drilling rig fleet and market prospects for the offshore drilling industry.

    Online Articles

    Online Articles

    Tue, 22 Nov 2016

  4. Hess extends drilling contract in the Gulf of Mexico

    Noble Corp. has issued a brief update on its offshore drilling rig fleet.

    Online Articles

    Online Articles

    Wed, 23 Nov 2016

  1. Subsea 7 expands offshore Egypt backlog

    Online Articles

    Online Articles

    Thu, 10 Nov 2016

  2. Rowan receives two contracts, two term notices

    Rowan Companies has issued an update on its drilling rig fleet.

    Online Articles

    Online Articles

    Wed, 19 Oct 2016

  3. Prosafe stacks more accommodation rigs

    Prosafe has issued an update on the various contracts of its accommodation support semisubmersibles.

    Online Articles

    Online Articles

    Fri, 21 Oct 2016

  4. Prosafe secures charter extension for Safe Boreas

    Repsol Sinopec Resources UK Ltd. has extended the charter of Prosafe’s semisubmersible accommodation vessel Safe Boreas by a total of 44 days.

    Online Articles

    Online Articles

    Wed, 9 Nov 2016

  5. Sedco 712 secures contracts in the UK North Sea

    Transocean Ltd. has provided an update on its offshore drilling rig fleet.

    Online Articles

    Online Articles

    Tue, 25 Oct 2016

  6. Transocean gains contract, receives term notice

    Transocean Ltd. has two items of contract news related to its ultra-deepwater fleet.

    Online Articles

    Online Articles

    Mon, 3 Oct 2016

  7. Resolute Energy to buy Delaware basin acreage

    Resolute Energy Corp., Denver, has agreed to acquire certain oil and gas properties in Reeves County, Tex., from Firewheel Energy LLC, a portfolio company of Houston private equity firm EnCap Investments LP, for $135 million. The deal is effective Sept. 1 and expected to close Oct. 7.

    Online Articles

    Online Articles

    Wed, 5 Oct 2016

  8. Barclays: Global E&P spending to trend up 5% in 2017

    Oil and gas companies are poised to increase spending on exploration and production globally by 5% in 2017, while offshore spending may continue to fall next year, based on Barclays’ midyear global spending survey of more than 200 companies.

    Online Articles

    Online Articles

    Wed, 7 Sep 2016

Get More Results