offshore drilling

Cultural  

1. The operation of oil wells on the continental shelf, sometimes in water hundreds of feet deep.

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Public debate about offshore drilling concentrates on the possibility that large oil spills will occur, with subsequent damage to the coastal environment.

Example Sentences

Transocean will acquire Valaris in an all-stock deal, creating the largest publicly traded offshore drilling contractor with 73 rigs and $10 billion in contract backlog.

From Barron's

The deal follows a sharp rally in offshore drilling stocks.

From Barron's

Interest costs of nearly $400 million annually have weighed on earnings and slowed debt reduction, even as offshore drilling conditions improved.

From Barron's

Offshore drilling stocks have rallied, with Transocean shares up 44% over the past year and Valaris shares up 20% year-to-date before the merger announcement.

From Barron's

Transocean RIG 9.11%increase; green up pointing triangle agreed to acquire fellow offshore drilling services company Valaris VAL 7.22%increase; green up pointing triangle in an all-stock deal worth $5.8 billion.

From The Wall Street Journal