Tuesday, January 7, 2025
With contracts canceled and debts mounting, offshore oil drillers face another shakeout-oil and gas 360

With contracts canceled and debts mounting, offshore oil drillers face another shakeout

Reuters DENVER/OSLO – The companies that operate offshore drilling rigs for major oil producers face a second wave of bankruptcies in four years amid a historic drop in energy prices that likely will leave surviving drillers more closely tied to big oil firms. A collapse of the offshore industry will have broad impact. Drillers and their suppliers have driven innovation