Before giving Nabors Industries(NBR) Chairman Eugene Isenberg credit for giving up his right to a $100 million payment that was due to him for doing nothing more than retiring, keep in mind that this is a CEO who made $109 million in the past three years alone, during a period of time when his company woefully underperformed peers. High oil prices have done nothing to help Nabors' market performance as Isenberg has helped himself to the company coffers. Nabors Industries Chairman Gene Isenberg gives up $100 million, but he's already done quite well for himself at the expense of shareholders. Also bear in mind that Nabors is undergoing a Securities and Exchange Commission investigation into excessive corporate perks at the expense of shareholders, as well as lawsuits brought by shareholders against the company and its board alleging similar abuse of shareholder money. [Read the full article]

Pacific Drilling S.A. (NYSE: PACD - News) (NOTC: PDSA) announced today that its ultra-deepwater drillship the Pacific Mistral commenced operations in Brazil on February 6, 2012. The drillship is contracted for a three-year term to Petrleo Brasileiro S.A. (Petrobras) (NYSE: PBR - News).The Pacific Mistral is capable of operating in water depths of up to 12,000 feet and drilling wells 37,500 feet deep.With its best-in-class drillships and highly experienced team, Pacific Drilling is a fast growing company that is committed to becoming the industry(TM)s preferred ultra-deepwater drilling contractor. Pacific Drilling(TM)s fleet of six ultra-deepwater drillships will represent one of the youngest and most technologically advanced fleets in the world. [Read the full article]

Pioneer Southwest Energy Partners L.P. (Pioneer Southwest or the Partnership) (NYSE:PSE - News) today announced financial and operating results for the quarter ended December 31, 2011.Pioneer Southwest reported a fourth quarter net loss of $7 million, or $0.21 per common unit. The net loss included unrealized mark-to-market derivative losses of $33 million, or $0.98 per common unit. Without the effect of this item, adjusted income for the fourth quarter was $26 million, or $0.77 per common unit. Cash flow from operations for the fourth quarter was $28 million.Oil and gas sales for the fourth quarter averaged 6,995 barrels oil equivalent per day (BOEPD), a decrease of 6% compared to the third quarter of 2011. Third quarter production benefited from an inventory draw of 175 BOEPD related to the addition of oil transport trucks to cover a second quarter transport truck shortage. [Read the full article]

ZUG, Switzerland, Feb. 6, 2012 /PRNewswire/ -- Noble Corporation (NYSE: NE - News) today announced that Bernie G. Wolford has been named to the position of Senior Vice President - Operations. Wolford will be responsible for increasing Noble's organizational capabilities, advancing the Company's culture of safety and ensuring operational excellence throughout the Noble fleet. Wolford will report to David W. Williams, Chairman, President and Chief Executive Officer. "Bernie is a results driven professional, with a proven track record of exceeding goals," said Mr. Williams. [Read the full article]