Energy News Roundup; Rig Count: U.S. -1 to 592 Canada -17 to 163
London, March 28, 2025 (Oilandgaspress) –- U.S. Rig Count is down 1 from last week to 592 with oil rigs down 2 to 484, gas rigs up 1 to 103 and miscellaneous rigs unchanged at 5.
Canada Rig Count is down 17 from last week to 163, with oil rigs down 10 to 108, gas rigs down 7 to 54 and miscellaneous rigs unchanged at 1.
International Rig Count is unchanged from last month at 905 with land rigs down 2 to 711, offshore rigs up 2 to 194.
| Region | Period | Rig Count | Change |
| U.S.A | 28 March 2025 | 592 | -1 |
| Canada | 28 March 2025 | 163 | – 17 |
| International | February 2025 | 905 | -4 |
| Baker Hughes |
Vestas has secured a 495 MW order from Copenhagen Infrastructure Partners (CIP) for the Fengmiao I offshore wind project off the coast of Taichung, Taiwan. The order includes 33 V236-15.0 MW turbines as well as a long-term comprehensive service agreement designed to ensure optimised performance of the assets. This order marks Vestas’ first firm order for its industry-leading V236-15.0 MW turbine in Taiwan.
“We are honored to deepen our partnership with CIP on the Fengmiao I project, our inaugural venture in Taiwan featuring the V236-15.0 MW turbine. This project marks the start of construction for Taiwan’s first Round 3 offshore wind project and reinforces our commitment to delivering innovative clean energy solutions and supporting Taiwan’s ambitious renewable energy goals. By leveraging our world-class technology and operational expertise, we aim to contribute significantly to the region’s sustainable energy infrastructure and drive the growth of offshore wind energy in Asia Pacific,” said Purvin Patel, President of Vestas Asia Pacific.
“We are proud to collaborate with Vestas for the third time in Taiwan, and even more so to be the first to deploy their cutting-edge V236-15.0 MW turbine,” said Mark Wainwright, Fengmiao I Project CEO. “This milestone reflects our ambition to lead with innovation and set new benchmarks in performance, reliability, and sustainability. We are confident that, together, we will deliver the Fengmiao I project on schedule, safely, and to the highest standards. We look forward to playing a key role in supporting Taiwan’s energy transition and long-term renewable energy goals”.
The construction of the Fengmiao I offshore wind farm is scheduled to be completed by the end of 2027, contributing significantly to Taiwan’s renewable energy infrastructure.
Vestas’ flagship offshore wind turbine, the V236-15.0 MW is built on proven, world-class technology and received its type certification in 2023, ensuring safety and quality. Since its launch, Vestas has secured more than 7 GW of firm orders globally, proving the turbine variant’s competitiveness across offshore markets. . Read Related News
Dolphin Drilling AS (Dolphin Drilling AS, OSE: DDRIL) today announces changes to the Company’s senior management team, following events disclosed on the 29th of January and the 28th of February 2025.
Jon Oliver Bryce has been appointed permanent Chief Executive Officer (CEO), effective immediately.
“I am highly confident that Dolphin Drilling, under Bryce’s steady and experienced leadership, will foster a culture with strong customer focus embracing new business opportunities utilising our unique platform, supported by new strategic investors with a long-term view focusing on creating shareholder value”, said Chairman Ronny Bjørnådal in Dolphin Drilling
Bryce is an established industry figure with more than 30 years experience in the Oil and Gas industry, having previously held senior leadership positions at Awilco Drilling and Odfjell Drilling. He has been the company’s Chief Strategy Officer since November 2023 and interim CEO since January this year. He is also the current chair of The British Rig Owners Association (BROA) and a Supervisory Board Member of the UK Chamber of Shipping.
“I see opportunity for Dolphin Drilling going forward. In the drilling rig sector that we currently operate, supply is at an all time low following a prolonged period of downturn and scrapping. Rig demand, however, is now building due to a combination of macro and basin-specific reasons, creating an ever-tightening market segment. With a highly competent organisation, our 60-year track-record of delivering operational excellence across the globe and now the backing of new major shareholders, the company is uniquely positioned to capitalise on this emerging market imbalance and to create value”, said Bryce.
The new CEO also believes the market will see a consolidation going forward and believes that Dolphin Drilling will play a major part.
“Initially we will focus on the day-job, delivering an improved version of Dolphin Drilling, with a high focus on cost control, organisational optimization and maximising financial efficiency. Moving forward though, we will look to grow and sector-consolidate through opportunistic & accretive M&A, where synergies and economies of scale can further enhance our investment case”, said Bryce.
As announced on the 28th of February 2025, the current Chief Financial Officer (CFO) Stephen Cox will step down. VP Corporate Finance & Investor Relations, Ingolf Gillesdal, has been promoted to CFO, effective from the 15th of April. Cox will stay on until the summer to support the Company and the CFO transition. . Read Related News
SSE plc today announces the appointment of Martin Pibworth as Chief Executive designate, following a competitive recruitment process. Current Chief Executive Alistair Phillips-Davies CBE announced his decision to retire from SSE in November 2024 and Martin will formally take over from Alistair following SSE’s Annual General Meeting (AGM) on 17 July 2025..oday’s announcement follows a robust succession process, led by SSE Chair Sir John Manzoni and the Nomination Committee with the support of independent recruitment specialists Korn Ferry. The process, which considered a strong field featuring internal and external candidates, built upon the Board’s long-term Group Chief Executive succession planning activity.
Alistair Phillips-Davies will continue to serve as Chief Executive until the AGM, at which point he will step down from the Board before leaving SSE in November 2025. He will remain as non-Executive Chair of SSEN Distribution during this time.. Read Related News
BW Energy enters into new increased Reserve Based Lending facility
BW Energy is pleased to announce an up to USD 500 million Reserve Based Lending (RBL) facility. The new facility replaces the USD 200 million RBL from 2022, which was increased to USD 300 million in 2023. The funds will be used together with cash-flow from operations to finance the further development of the Company. The facility has an initial commitment of USD 400 million, which can be expanded with an additional USD 100 million. The senior secured long-term debt facility matures on 1 October 2030.
“We are pleased to conclude the amend, extend and increase of the RBL with strong interest from several international banks. The increased facility provides further liquidity to finance BW Energy’s development activities and drive our future production growth and long-term value creation, at a competitive interest margin,” said Brice Morlot, the CFO of BW Energy. Mauritius Commercial Bank Limited is the Facility Agent for the RBL facility, while SCB and Rand Merchant Bank are Joint Technical banks. The syndicate further includes NedBank Group and ABSA Group (documentation bank), alongside SHELL, the offtaker of oil from the Dussafu license. . Read Related News
Vestas has secured a 495 MW order from Copenhagen Infrastructure Partners (CIP) for the Fengmiao I offshore wind project off the coast of Taichung, Taiwan. The order includes 33 V236-15.0 MW turbines as well as a long-term comprehensive service agreement designed to ensure optimised performance of the assets. This order marks Vestas’ first firm order for its industry-leading V236-15.0 MW turbine in Taiwan.
“We are honored to deepen our partnership with CIP on the Fengmiao I project, our inaugural venture in Taiwan featuring the V236-15.0 MW turbine. This project marks the start of construction for Taiwan’s first Round 3 offshore wind project and reinforces our commitment to delivering innovative clean energy solutions and supporting Taiwan’s ambitious renewable energy goals. By leveraging our world-class technology and operational expertise, we aim to contribute significantly to the region’s sustainable energy infrastructure and drive the growth of offshore wind energy in Asia Pacific,” said Purvin Patel, President of Vestas Asia Pacific.
“We are proud to collaborate with Vestas for the third time in Taiwan, and even more so to be the first to deploy their cutting-edge V236-15.0 MW turbine,” said Mark Wainwright, Fengmiao I Project CEO. “This milestone reflects our ambition to lead with innovation and set new benchmarks in performance, reliability, and sustainability. We are confident that, together, we will deliver the Fengmiao I project on schedule, safely, and to the highest standards. We look forward to playing a key role in supporting Taiwan’s energy transition and long-term renewable energy goals”.
The construction of the Fengmiao I offshore wind farm is scheduled to be completed by the end of 2027, contributing significantly to Taiwan’s renewable energy infrastructure. . Read Related News
Vestas Wind Systems A/S, Aarhus, Company Announcement No. 12/2025
On 5 February 2025, Vestas announced the initiation of a share buy-back programme, ref. Company Announcement No. 03/2025. The programme is implemented in accordance with Regulation No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (MAR) and the Commission’s delegated regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour” rules).
Under the programme, Vestas will buy back shares for an amount up to DKK 746m (approx. EUR 100m) in the period from 6 February 2025 to 28 March 2025.
The following transactions have been made under the programme on 27 March 2025:
| Number of shares | Weighted average purchase price, DKK | Transaction value, DKK | |
| Previously accumulated under the programme | 6,855,000 | 103.50 | 709,483,094.50 |
| Transactions during the period: | |||
| 27 March 2025: | 358,000 | 101.99 | 36,511,381.80 |
| Total accumulated during the week | 358,000 | 101.99 | 36,511,381.80 |
| Total accumulated under the programme | 7,213,000 | 103.42 | 745,994,476.30 |
Details of all the transactions relating to the share buy-back programme during the period are presented in the attached appendix. The share buy-back programme initiated on 6 February 2025 is hereby finalised. . Read Related News
Diesel flows to the Atlantic Basin have surged to seasonal highs on multiple occasions in 2024, with the same trend continuing in early 2025. Last year, high run rates in the US Gulf, steady exports from East of Suez refiners and an increasing volume of Russian barrels reaching the South Atlantic were just some of the factors contributing to ample supplies to net-importers in Europe and Latin America. . Read Related News
Island Drilling Company AS has been awarded a three-year contract for well plugging on Equinor-operated fields on the Norwegian continental shelf (NCS) using the Island Innovator semi-submersible rig. In addition, the oil service companies Archer Oiltools and Baker Hughes Norge have won framework agreements for plugging services. Island Innovator is a mobile rig specially designed for well plugging. The Norwegian rig company will now be on assignment for Equinor for several years, start-up scheduled for early 2026.
The contract, worth an estimated near USD 330 million, also carries five one-year options. The scope of work under the contract includes mobilisation, planned upgrading and certain integrated drilling services. . Read Related News
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $69.36 | Down |
| Crude Oil (Brent) | USD/bbl | $73.57 | Down |
| Bonny Light 28/03/25 CBN | USD/bbl | $76.66 | Up |
| Dubai | USD/bbl | $72.45 | Up |
| Natural Gas | USD/MMBtu | $4.06 | Up |
| Murban Crude | USD/bbl | $75.43 | Up |
| OPEC basket 27/03/25 | USD/bbl | $76.11 | Up |
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole @oilandgaspress.
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