Oil prices have continued to move upward in recent weeks, and that has spurred the talk of rig counts possibly increasing and production coming back online. As oil prices flirt with the $50 mark, this may become a reality to onshore producers in the U.S.

However one important area of production is still struggling to find solid footing: offshore oil and gas.

Offshore drilling and exploration has been hit hard in 2016, and the hits just keep on coming. On May 23, Seadrill Ltd. (ticker: SDRL) announced that the company had received notice t...

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