Transocean-Valaris Tie-Up to Create $17B Offshore Drilling Major with 73 Rigs
Offshore drilling contractor Transocean has agreed to acquire Valaris in an all-stock transaction valued at about $5.8 billion, creating one of the world’s largest offshore drilling contractors with a fleet of 73 drilling rigs.The combined company will have an enterprise value of roughly $17 billion, with Transocean shareholders expected to own about 53% of the merged entity and Valaris shareholders the remaining 47% on a fully diluted basis.The transaction will combine fleets to form a portfolio of 73 offshore rigs…
Gulf Marine Services Lines Up First Fleet Addition in 10 Years
Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has agreed to acquire a new mid-class self-propelled, self-elevating support vessel, marking its first vessel acquisition in a decade.The vessel is expected to join the company’s fleet of 14 vessels within the next two weeks and is intended to support GMS’ strategy of doubling its 2024 adjusted EBITDA by 2030.The acquisition was partly financed through a $37.4 million 90-day interim loan provided by a Middle Eastern bank that is part of the company’s existing lending syndicate…
ASRY Completes Multiple Rig Upgrades for ADES
The Arab Shipbuilding and Repair Yard Company (ASRY) has completed several rig repair and upgrade projects for Saudi-based ADES Holding, strengthening the partnership between the two companies.In 2025, several ADES jack-up rigs underwent major works at ASRY’s facilities in Bahrain.The ADM-501 and ADM-504 units were prepared earlier in the year for drilling operations in Nigeria, while upgrade works on ADM-503 and ADM-511 were recently finalized ahead of upcoming drilling campaigns…
Gulf Marine Hooks Multi-Year Jack-Up Vessels Charter in Europe
Gulf Marine Services (GMS), a provider of jack-up support vessels to the offshore energy industry, has secured a contract covering two of its large-class vessels in Europe.The contract spans a total of 1624 days and will see the vessels continue to support offshore operations across the region.Following this award, GMS’s contracted backlog has increased to $540 million, according to the company.“We are delighted to have secured this contract, which once again highlights the strong…
Poseidon Jackup JV Targets North American Modular Jack-Up Market
Combifloat Group of the Netherlands and Poseidon Barge of the United States, with the backing of Marine Equipment Solutions (MES), have launched a new joint venture (JV) under the name of Poseidon Jackup to bring ‘world-class’ modular jack-up technology to North America.The partnership will offer Jones Act compliant solutions tailored to the needs of U.S. and Canadian marine contractors.Poseidon Jackup introduces purpose-built, modular jack-up barge systems engineered for performance…
KENC to Outfit Jack-Up Vessel Bound for Work at UK Offshore Wind Farm
KENC Engineering has secured multiple contract awards from an unnamed transport and installation (T&I) contractor to provide engineering work for a jack-up vessel set for operations at U.K. offshore wind farm.KENC’s scope of work includes the design and engineering of a hose reel platform that houses the HPU (hydraulic power unit), a hose saddle, a control cabin work frame and a gangway platform. The challenge was to come up with custommade solutions that were light, stable and strong to fit the deck requirements of the jack-up vessel.Engineering is already well underway…
Northstar Partners with Laredo Offshore to Support US Offshore Wind
New Jersey-based Northstar Marine announced Wednesday it is gearing up to support emerging offshore wind development projects in the Northeast U.S., having recently acquired a pair of specialized support vessels and formed a partnership with with Laredo Offshore Services, based in Belle Chasse, La.The marine services provider announced Wednesday it has acquired a 145-foot class liftboat, the Northstar Voyager, currently undergoing a refit and USCG recertification in the Gulf of Mexico ahead of its first project in the Northeast in mid-April of this year.
Jack-Up Barge Solutions Target Offshore Efficiency
Dutch offshore self-elevating platform and services provider Jack-Up Barge BV believes innovative and cost-efficient solutions are needed now more than ever across the offshore oil and gas and renewables businesses.The current market faces challenges, from the COVID-19 pandemic and low oil prices to wind farms that have spiraled in size from 2-3 MW turbines to 12 MW turbines in just a few years. It’s a constantly changing landscape, and the risk is that if the industry keeps doing things the same way, it’ll get the same results, says Jack-Up Barge.
Fred. Olsen Windcarrier Picks Jack-Up for 1600t Huisman Crane
Offshore wind turbine installation company Fred. Olsen Windcarrier back in March said it had struck a deal to equip one of its jack-up installation vessels with a 1600t crane for next-gen offshore wind turbines. While the company at the time did not say which vessel exactly would sport the new crane, it Friday revealed that the jack-up unit picked is the Brave Tern. "We can now announce that the new crane will be installed on Brave Tern! With her new crane and additional improvements to deck space and stability…
Keppel Delivers New Jack-Up Drilling Rig to Borr Drilling
Singapore-based offshore drilling rig builder Keppel Offshore & Marine has delivered a newbuild jack-up drilling rig to Norway's Borr Drilling.The rig, named Hild, was built to Keppel's KFELS Super B Class design. The Hild is the sixth jack-up that Keppel has delivered to Borr Drilling, out of the 11 that have been ordered. It is capable of operating in 400 feet water depth and drilling to 35,000 feet. The jack-up is equipped with a maximum combined cantilever load of 2,700 kips and high capacity hook loads of two million poundsFollowing this delivery…
