Vantage Drilling and Eldorado Agree $257.6 Million Merger
1, June 2026
Vantage Drilling and Eldorado Drilling have agreed to merge in a $257.6 million cash transaction, adding to offshore rig market consolidation.
offshore drilling
Europa EG-08 Farm-Out Awaits Final Approval
29, May 2026
Europa Oil & Gas says the EG-08 farm-out offshore Equatorial Guinea has ministry approval, with only Shandong ODI approval still needed before completion.
Borr Drilling Adds Jack-Up Backlog
22, May 2026
Borr Drilling added 13 contracts in 2026, lifting jack-up rig backlog by more than 2,250 days as it expands its fleet and points to stronger long-term offshore drilling demand.
Aker BP Secures North Sea Drill Permit
21, May 2026
Aker BP has secured approval to drill exploration well 15/6-17 in the Norwegian North Sea using Saipem’s Scarabeo 8 rig in June 2026.
Ithaca Signs Harbour Rig Sharing Deal
20, May 2026
Ithaca Energy has signed a rig sharing agreement with Harbour Energy for the Paul B. Loyd, Jr. semisubmersible in the UK North Sea.
ADES Wins $270 Million in Rig Deals
18, May 2026
ADES has secured one new jackup contract in Nigeria and one North Sea extension, increasing its firm backlog by about $270.1 million.
Velesto Wins Malaysia Offshore Rig Contract
16, May 2026
Velesto Energy secured a Malaysia offshore drilling contract with Hibiscus Oil & Gas covering nine firm wells and up to seven optional wells for 2026 operations.
Equinor Receives Approval for Åsgard Drilling Campaign
15, May 2026
Equinor received regulatory approval to use the Transocean Encourage semi-submersible rig for drilling operations at the Åsgard field offshore Norway.
Middle East Conflict Slows Jackup Recovery
14, May 2026
The Middle East jackup market has slowed after escalating regional conflict disrupted offshore drilling activity across the Arabian Gulf. Westwood said rig suspensions, delayed drilling campaigns and contract terminations pushed marketed fleet utilization down sharply, delaying the expected recovery in 2026.
