In this current period of downturn, critics of offshore shipowners will say that owners have been guilty of not scrapping older tonnage in order to maintain a young and advanced fleet. Though this is justified, rewind to pre-downturn, these debt free older vessels were able to get work on a fairly regular basis, and were a cashflow generator for owners.
Borr Drilling's acquisition of Paragon Offshore will create a 3.57 billion USD MODU fleet.
“2017 was one of the strongest years in BP’s recent history. We delivered operationally and financially, with very strong earnings in the Downstream, Upstream production up 12%, and our finances rebalanced. And we did all this while maintaining safe and reliable operations.
Senior oil and gas sector professionals expect a step change in the industry’s capex, opex and R&D spending levels in 2018, according to a new industry benchmark study from DNV GL.
The global oil and gas industry is expecting a boost to capital and operational expenditure (capex and opex) in 2018 after a sharp rebound in confidence over the past year.
Kosmos Energy (NYSE: KOS) (LSE: KOS) announces that it has refinanced its reserve-based lending (RBL) facility. The RBL facility, which previously incorporated only the company’s Ghana assets, now includes the recently acquired producing assets in Equatorial Guinea as well as allowing the company the future flexibility to include the Greater Tortue development post final investment decision.
For the year ended Dec. 31, 2017, Anadarko reported a net loss attributable to common stockholders of $456 million, or $0.85 per share (diluted). Full-year 2017 net cash provided by operating activities totaled $4.0 billion.
The Amercian owned fleet is worth $47 billion and currently ranks the 4th most valuable fleet in the world. US shipping interests are focused heavily on the offshore industry, tankers, and container industry.
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