Drillers cut five oil rigs this week, bringing the total count down to 763, Baker Hughes, a GE company (NYSE: BHGE), said in its report on Aug. 18.

The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.

Drillers have added rigs in 56 of the past 63 weeks since the start of June 2016. The rig count is an early indicator of future output.

Atwood said one of its subsidiaries agreed to a one-well contract with Kosmos for operations offshore Northwest Africa. The day rate was not disclosed.

The current U.S. oil and gas rig count is 954, according to Baker Hughes. That compares with an average of 509 in 2016 and 978 in 2015.

The world’s biggest oilfield service provider Schlumberger took a 20% stake via a private placement in the company managed by former Seadrill executives in March.

Technology, regulations and more are required for an effective abandonment and decommissioning strategy for aging offshore facilities.

Planning and collaboration help ensure smart, safe handling of COCs during facility decommissioning.

The total U.S. rig count increased by eight to end the week of July 28 with 958 rigs compared to last week, according to the latest report from Baker Hughes, a GE company (NYSE: BHGE). That’s up from 463 a year ago.

U.S. rigs targeted oil and gas each fell by one, bringing the total U.S. rig count down to 950.

The total rig count in the U.S. was unchanged this week at 952 as the nation’s drillers added two oil rigs but took away just as many gas rigs, according to the latest rig report from Baker Hughes (NYSE: BHGE).