Borr Drilling (NYSE:BORR) expects nearly a third of the global fleet of shallow-water rigs will be retired in the coming years, leading to higher daily leasing rates, CEO Patrick Schorn said Thursday.

The anticipated upcycle in deepwater drilling has been deferred to 2026 or later due to factors like FPSO lead times, regulatory approvals, and capital discipline. Despite the delays, the long-term ...

Norwegian energy giant Equinor has finalised its arrangements to retain the deep-water drilling rig Deepsea Atlantic for at least another three years at a cost of about $290 million. The arrangements ...

Willie Sutton robbed banks because that's where the money is. And oil companies venture into deep waters for exploration because that's where the oil is. That's why -- even though President Obama has ...

Storms in the Gulf of Mexico are forcing BP to temporarily halt drilling a relief well. The well is the final step in what has been a three-month effort to stop oil from gushing into the Gulf. On ...

On a farm near Manchester, New Hampshire, I was recently treated to a gusher of dirty water, not exactly the sort of thing that most startups will show a reporter. But for Dig Energy, the mud is a ...

The oil industry won a round in the legal battle over offshore drilling Tuesday when a federal judge in New Orleans issued an injunction blocking the six-month moratorium President Obama imposed on ...

Modern offshore oil rigs are engineering wonders designed to accommodate massive crews and operate in some of the most hostile environments on Earth. As the demand for oil drives exploration into ...

Off-shore oil drilling currently accounts for over 35% of the world's total oil production, and that number has consistently risen over recent history. While a majority of oil extraction takes place ...