Tag: Valaris

Charles Dickens offered only A Tale of Two Cities. This week, I offer a tale of no less than six restructurings, as the crisis in the offshore sector comes to a head. One ..

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Sometimes it is not only easier to walk away, but actually better The deepwater drilling industry is in crisis, as you know. In 2020, four major owners of deepwater rigs ..

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After announcing in October that it would liquidate the subsidiary that owns the FPSO Umuroa, and hand the idle vessel to the company administrators to maintain, remove ..

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In Part One (here) we looked at how the biggest names in the offshore sector, Tidewater and Bourbon have drastically shrunk their fleets in the face of pressure from ..

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We have previously seen unwanted deepwater rigs scrapped in the breakers yards of Turkey, or held for conversion into subsea mining vessels by Allseas, as the drilling ..

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All dictators seem to use the same playbook. They lock up or kill their opponents, purge their enemies, censor the press, bend the judiciary to their will, and in the ..

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