Valaris (NYSE:VAL) has entered into a definitive all stock merger agreement to be acquired by Transocean. The combination is set to create the largest offshore oil rig company in the public markets.

A massive oil drilling rig that was set to explore Alaska's North Slope this winter will instead be dismantled and sent to be recycled after it crashed onto snow-covered tundra last month, a ...

America’s most productive oil patch is now grappling with a problem it cannot drill its way out of: mounting underground pressure from billions of barrels of dirty water. What began as a quiet ...

In February 1982, the Ocean Ranger, the world’s largest semi-submersible oil rig, faced one of the most violent North Atlantic storms ever recorded. The crew of 84 men trusted their floating fortress ...