The rise in the rig count this week was the biggest increase since April 2014. It was, however, only the third addition over the past 33 weeks, bringing the total rig count up to 659, the highest since late May.

The jackup rig renter cut 15% of workforce, or 324 jobs, in November. More than two-thirds of the holders of its outstanding debt support imminent bankruptcy protection filing, Reuters said. 

Snyder, Texas-based Patterson-UTI said its margins were improving and its U.S. rig count was stabilizing, while Calgary-based Precision Drilling said it expected its market share to improve due to demand for high-tech rigs.

FLNG, Quest Offshore, FPSO, Shell, Prelude, Golar

Quest Offshore called the outlook for nine FLNG orders through 2019 “positive” despite the figure being 25% lower than the previous forecast due to today’s market conditions.

Companies shoulder much of costs for large-scale redundant platform decommissioning as sales in ageing oil fields remain few, Reuters said. Urgency to sell assets has grown on low oil prices.

Pressure will be boosted at the Midgard and Mikkel reservoirs tied to the Aasgard Field, helping increase total production by 306MMboe, or 45.9Bcm of gas, Reuters said.

Under the terms of the contract, ConocoPhillips is obligated to pay Ensco termination fees monthly for two years equal to the operating day rate of about $550,000, which may be partially defrayed should Ensco re-contract the rig within the next two years and/or mitigate certain costs.

The Stones development is about 320km offshore Louisiana in the Walker Ridge area, in 2,896m (9,500ft) of water. Turritella will be the world’s deepest FPSO.

The Edvard Grieg topside installation consisted of lifting four modules onto the pre-installed jacket—the main deck frame, the utility and living quarters module, the processing module and the flare boom with a total weight of 22,000 tonnes, Lundin Norway said in a news release.

Fennica is one of two ice management vessels in Shell's nearly-30 ship fleet for Chukchi Sea, Reuters said. It contains the capping stack to contain a blown-out undersea well.

Located on the northeast coast of Russia’s Sakhalin Island, the Berkut oil platform is one of the world’s largest floatover platforms and is designed so that the topsides are isolated from the base using friction pendulum bearings, a news release said.

The contract, which begins in mid-March 2016, secures work for West Phoenix through the end of August 2016, NADL said in a news release.

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