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  1. Subsea 7 bids for full ownership of Seaway Heavy Lifting

    Offshore staff LUXEMBOURG – Subsea 7 has offered to acquire the 50% shareholding in Seaway Heavy Lifting Holding currently owned by K&S Baltic Offshore in a deal valued at up to $319 million. Seaway Heavy Lifting is a joint venture in which Subsea 7 currently holds the remaining 50%. The company operates two heavy-lift vessels, employs roughly 550 staff, and is based in Zoetermeer, the Netherlands. If the offer is accepted, the company would become a wholly owned subsidiary of Subsea 7. The terms of the offer are binding on Subsea 7 until July 1, 2017. During this period the Works Council representing Seaway’s employees in the Netherlands will be consulted in compliance with Dutch law. CEO Jean Cahuzac said: “Subsea 7’s strong market position in offshore energy services is complemented by Seaway Heavy Lifting’s expertise in three areas  of offshore activity: renewables, heavy-lifting operations , and decommissioning of oil and gas assets. “We believe that this acquisition will allow us to strengthen Subsea 7’s position in businesses where we expect increased activity and opportunities for long-term growth.” In a separate development, Petrobras has terminated the day rate contract offshore Brazil for Subsea 7’s pipelay support vessel Seven Mar . The contract had been due to expire in 2018. Brazilian maritime law prioritizes Brazilian-flagged vessels over international vessels of a similar specification, hence the decision to terminate the contract early. 01/17/2017

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    Tue, 17 Jan 2017

  2. Jackups continue to dominate rig contract mix, report finds

    Evercore ISI’s Oilfield Services, Equipment & Drilling group recently released its updated monthly Offshore Rig Market Snapshot report.

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    Fri, 20 Jan 2017

  3. Shell, Noble amend ultra-deepwater drillship contracts

    Noble Corp. plc and Royal Dutch Shell plc subsidiaries have agreed to amend the existing long-term contracts on three ultra-deepwater drillships.

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    Mon, 12 Dec 2016

  4. Pressure on rates, competition impact Topaz’s vessel revenues

    Topaz Energy Marine Services’ revenues for the first nine months of this year were down 21.2% compared with the same period last year.

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    Fri, 2 Dec 2016

  1. Atwood lands follow-up work with Woodside

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    Mon, 19 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.

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    Tue, 29 Nov 2016

  3. Rowan receives two contracts, two term notices

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

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    Wed, 19 Oct 2016

  4. Subsea 7 expands offshore Egypt backlog

    Subsea 7 has completed offshore operations on the fasttrack East Nile Delta project in the Egyptian sector of the Mediterranean Sea.

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    Thu, 10 Nov 2016

  5. Prosafe stacks more accommodation rigs

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

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    Fri, 21 Oct 2016

  6. Transocean gains contract, receives term notice

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

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    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.

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    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.

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    Wed, 7 Sep 2016

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