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ZUG, Switzerland -- Transocean Ltd. announced today that Shell has elected to terminate the contract for the harsh environment semisubmersible Polar Pioneer prior to its expiration in July 2017. Transocean will be compensated for the early termination through a lump-sum payment that includes adjustments for reduced operating costs and demobilization…
Murphy Oil Corporation (NYSE:MUR) ("the Company") announced today that it has entered into a variable term, capped accelerated share repurchase transaction (the "ASR") with Wells Fargo Bank, National Association, to repurchase an aggregate of $250 million of the Company's common stock. The ASR is part of the board authorized program…
Crude oil prices have increased following a rise in demand in the first half of this year.Brent crude futures stood at $48.82 per barrel, a 45 cents rise, while the US West Texas Intermediate (WTI) futures were at $45.69 a barrel, up 60 cents, Reuters reported.Based on national estimates submitted…
Geophysical services company Electromagnetic Geoservices (EMGS) has signed an extended charter agreement with Norway-based BOA SBL for its BOA Thalassa and BOA Galatea vessels with new and improved commercial terms.According to EMGS, the new terms are valid as of 1 October 2015.EMGS CEO Stig Eide Sivertsen said: "We are very…
The Californian Senate has passed a new law to ban new offshore oil drilling in a nearby marine protected area in the Santa Barbara Channel known as Tranquillon Ridge.The latest approval comes two weeks after a ruptured pipeline led to an oil spill along the Santa Barbara County coastline.An underground…
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