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India's Aban Offshore March-qtr consol loss widens

Monday, 29 May 2017 05:14am EDT

May 29 (Reuters) - Aban Offshore Ltd ::March quarter consol net loss 3.37 billion rupees.March quarter consol total income from operations 3.91 billion rupees.Consol net loss in March quarter last year was 2.02 billion as per ind-as; consol total income from operations inr 6.29 billion.

Seadrill Partners eyes agreement with banks during June

Wednesday, 24 May 2017 08:39am EDT

May 24 (Reuters) - Seadrill Partners LLC :Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring.Says plans to make a decision regarding the distribution to its members when the agreement is reached.Says plans to maintain its current distribution level once an agreement is reached with its lending banks.Seadrill Partners has deferred its first quarter 2017 distribution decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring.

Seadrill Partners eyes agreement with banks during June

Wednesday, 24 May 2017 08:39am EDT

May 24 (Reuters) - Seadrill Partners LLC :Says discussions with its lending banks are well advanced and they are targeting execution of an agreement during June 2017, prior to implementation of broader Seadrill Limited restructuring.Says plans to make a decision regarding the distribution to its members when the agreement is reached.Says plans to maintain its current distribution level once an agreement is reached with its lending banks.Seadrill Partners has deferred its first quarter 2017 distribution decision until an agreement is reached with its lending banks to insulate itself from potential events of default by Seadrill Limited should Seadrill Limited require the use of in court processes, such as schemes of arrangement or chapter 11 proceedings, to implement its restructuring.

Seadrill q1 EBITDA above forecast, keeps restructuring talks

Wednesday, 24 May 2017 02:24am EDT

May 24 (Reuters) - Rig firm Seadrill Ltd ::Seadrill q1 ebitda $291 million (Reuters poll $271 million).Seadrill q1 revenues $569 million (Reuters poll $551 million).Seadrill limited's order backlog $3.4 billion at end-q1 versus $2.5 billion at end-q4.Seadrill ltd: our priority continues to be to implement our restructuring plan with right structure and terms for our stakeholders.Seadrill ltd: ebitda will be lower for the second quarter, at around $240 million.Seadrill ltd: the company is now in advanced discussions with certain third party and related party investors and its secured lenders on the terms of a comprehensive recapitalization.While discussions with secured lenders and certain investors have advanced significantly, a number of important terms continue to be negotiated and no assurance can be given that an agreement will be reached.As previously disclosed, we continue to believe that implementation of a comprehensive restructuring plan will likely involve schemes of arrangement or chapter 11 proceedings, and we are preparing accordingly.Seadrill ltd repeats currently expects that shareholders are likely to receive minimal recovery for their existing shares.In April, the Company reached an agreement with its bank group to extend the comprehensive restructuring plan negotiating period until 31 July 2017.Net interest bearing debt $8.2 bln at end Q1 vs $8.5 bln at end q4 2016.

Seadrill appoints new CEO

Wednesday, 24 May 2017 02:03am EDT

May 24 (Reuters) - Seadrill Ltd :Anton Dibowitz appointed CEO from July 1.Dibowitz will succeed Per Wullf who will remain a director of the company.Dibowitz said: "There are short term challenges to overcome in Seadrill and the industry but I look forward to playing my part in returning Seadrill to growth, together with the great team we have working here.".Anton Dibowitz joined Seadrill in 2007, has led the Commercial function within Seadrill since 2010 and was appointed Executive Vice President in June 2016 with the responsibility for day-to-day business administration of the company.

Paragon offshore announces approval of administration application and appointment of joint administrators in the United Kingdom

Tuesday, 23 May 2017 09:28am EDT

May 23 (Reuters) - Paragon Offshore Plc : :Paragon Offshore announces approval of administration application and appointment of joint administrators in the United Kingdom.Paragon Offshore -Paragon's U.S. chapter 11 confirmation hearing scheduled to begin June 7, 2017 with chapter 11 emergence targeted for early July.Paragon Offshore PLC says english court places Paragon Offshore PLC in administration as part of ongoing chapter 11 process.

Patterson-UTI Energy sees 2017 capex $450 mln

Tuesday, 23 May 2017 06:21am EDT

May 23 (Reuters) - Patterson-UTI Energy Inc ::Patterson-UTI Energy Inc - sees 2017 capex $450 million, as of April 27.

Helmerich & Payne to buy MOTIVE Drilling for $75 mln payable at deal closing

Monday, 22 May 2017 03:15pm EDT

May 22 (Reuters) - Helmerich And Payne Inc :Helmerich & Payne Inc announces acquisition of MOTIVE Drilling Technologies Inc .Deal for $75 million.Deal includes up to an additional $25 million in potential earnout payments based on future performance during next few years .

Sinopec Oilfield Service updates on unusual price movements in A shares trading

Monday, 22 May 2017 05:48am EDT

May 22 (Reuters) - Sinopec Oilfield Service Corp <600871.SS>:Confirms current productions and operations of company and its controlled subsidiaries are running smoothly.Co is not aware of any media coverage or market rumors which may have a material impact on trading price of co's shares.

Jasper Investments posts quarterly profit attributable US$234,000

Friday, 19 May 2017 11:23am EDT

May 19 (Reuters) - Jasper Investments Ltd :Qtrly revenue $300,000 versus $247,000.Qtrly profit attributable $234,000 versus $40,000.

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