R&B Falcon Corporation reported a loss from continuing operations of $22.4 million for the three months ended September 30, 1999, compared with a loss from continuing operations of $28.2 million for the three months ended September 30, 1998. The loss for the quarter is directly attributable to reduced demand for drilling services, particularly in the shallow and inland water segments. Average fleet utilization for the third quarter of 1999 was 39 percent compared to 64 percent for the same quarter in the preceding year. For the nine months ended September 30, 1999 average fleet utilization was 40 percent compared to 77 percent for the same period in 1998. Revenues were $29.3 million lower in the third quarter of 1999 compared to the same quarter in the preceding year despite contributions of $62 million from Cliffs Drilling Company which was acquired in December, 1998. Revenue decreases were primarily related to the shallow water and inland water segments and resulted from lower dayrates and rig utilization. Operating expenses were $56.4 million lower in the current quarter than in the same quarter of the prior year. Excluding $57.4 million of third quarter operating expenses attributable to Cliffs Drilling Company, operating expenses were $113.8 million lower in the third quarter of 1999 compared to the same quarter of the prior year and reflects cost reductions, lower rig utilization and the cold stacking of some units
Bollinger Fourchon, LLC, a subsidiary of Bollinger Shipyards, demonstrated its ability to modify or repair offshore jack-up drilling rigs quickly and cost effectively, with three recently completed projects. One project, for R&B Falcon Drilling, Inc., involved the replacement of jet piping (which blows away sand and mud around the rig legs for easier movement) and the fabrication and erection of an interior bulkhead on the Cliffs 150 rig in just eight days.
To those not familiar with the New York metropolitan area — the eastern end of Long Island is demographically multi-faceted. Traveling east on the Long Island Expressway, (the Island' main thoroughfare), the 118-mile long island, splits into two "forks," the North and the South. With the hamlets of Greenport and Orient Point situated on the easternmost points of the island on the north, the South Fork boasts the tony Hampton villages and the historical village of Montauk Point — literally the
An effort to open Virginia's coast to offshore drilling gained new momentum in Congress when Virginia's senators introduced legislation giving states the option to drill for natural gas. The bill would give governors of coastal states the power to opt out of a federal moratorium that prohibits offshore drilling in most U.S. coastal waters. The new legislation comes one week after the Bush administration signaled its support for such proposals by calling for a study of potential gas and oil
With the arrival of calmer springtime weather, Titan Salvage has resumed wreck removal operations in Gibraltar on the New Flame following a busy first quarter in which the company responded to eight salvage opportunities. Among them were the re-floating of the bulk carrier Fedra's forward section in Gibraltar, the re-floating of a general cargo vessel grounded on environmentally-sensitive coral reefs of southern Belize; and the safe delivery of a tank ship involved in a collision and fire off
Multiple news sources have reported that Greek court has convicted nine officers and shipping company officials of negligence in the sinking of a cruise ship off the resort island of Santorini more than six years ago. Sea Diamond, a Louis Hellenic cruise vessel, was carrying roughly 1,600 people when it hit rocks off Santorini’s cliffs and sank in April 2007. Two French passengers were never found and are presumed drowned.
ABB, a power and automation technology group, recently won six contracts collectively worth more than $150m to supply main electrical systems for drilling rigs and drill-ships built in Asia. The orders were booked during the third quarter of 2008. Among the new orders are three deepwater drilling rigs now under construction at the Jurong Shipyard in Singapore, two drill-ships (Stena DrillMAX ICE and the Pride #4 drill-ship) to be built at Samsung Heavy Industries and another drill-ship for
Despite harsh weather and ocean conditions, and complex geological characteristics of its drill site, the deep-sea drilling vessel Chikyu, for the first time in the history of scientific ocean drilling, conducted riser-drilling operations to drill successfully down to a depth of 1,603.7 meters beneath the seafloor (at water depth of 2,054 meters). Engaged in the Integrated Ocean Drilling Program (IODP) Expedition 319, the Chikyu is drilling deep into the upper portion of the great Nankai
Keppel FELS Limited (Keppel FELS) has been awarded a bonus of $460,000 for delivering the KFELS B Class jackup rig, PV Drilling III, early to PetroVietnam Drilling & Well Services Corp (PV Drilling). Completed 1.5 months ahead of schedule, without incidents, PV Drilling III has departed Keppel FELS for Vietnam to begin a five-year contract with Vietsovpetro in the Bach Ho field, offshore Vietnam. PV Drilling III completes the series of three KFELS B Class jackup rigs ordered by PV
Buccaneer Energy contextualizes termination of its contract with Archer Drilling as project manager of work on one of its jack-up rigs. The contract was for Archer Drilling to act as project manager of modifications and repairs to the Endeavour-Spirit of Independence jack-up rig owned by Kenai Offshore Ventures, LLC, which is a joint venture between Buccaneer, Singapore based Ezion Holdings Limited and the Alaska Industrial Development and Export Authority (“AIDEA”)
The Chinese navy has announced 10 days of military training in the waters near eastern Hainan Island in the South China Sea starting on Wednesday, amid heightened tensions in the region. Playing down the significance of the exercises, the Chinese military said the drills
China said on Friday it had every right to drill in the East China Sea close to waters disputed with Japan, adding that it did not recognise a "unilateral" Japanese median line setting out a boundary between the two in the waters.
After extensive review and under a robust array of safety requirements, Bureau of Safety and Environmental Enforcement (BSEE) Director Brian Salerno today announced that Shell has received conditional approval of two Applications for Permits to Drill (APD) to conduct limited exploratory
The Chinese navy played down recent military drills in the South China Sea and criticised other countries for "illegally" occupying islands in the area, the official Xinhua news service reported on Saturday. China has launched a naval drill in waters to the east of Hainan
Environmental activists in the U.S. prepare to take their so-called “kayaktivism” nationwide as they urge lawmakers to revoke oil and gas exploration leases in the Chukchi Sea, says environmental group Friends of the Earth. The group’s “Shell No” day on July 18
Shell Oil Co. marine vessels Noble Discoverer and the semisubmersible drilling unit Transocean Polar Pioneer were inspected by two Bureau of Safety and Environmental Enforcement (BSEE) personnel in Dutch Harbor, Alaska July 7-12, BSEE announced.
ConocoPhillips said on Thursday it will reduce future spending on deepwater drilling due to low crude oil prices while raising its dividend one cent. The largest spending reductions will come in the Gulf of Mexico, where the Houston-based company said it will terminate a three-year
ConocoPhillips today for its convenience provided a notice of termination for the three-year ENSCO DS-9 drillship contract. Under the terms of the contract, ConocoPhillips is obligated to pay Ensco termination fees monthly for two years equal to the operating day rate of approximately $550
Dive and salvage teams worked to remove debris used as anchor blocks by environmental activists protesting Shell’s Arctic drilling aboard a barge in Seattle’s Alki Seacrest Park on May 19. A dive team from Global Diving & Salvage, Inc
China has launched regular military exercises in the Yellow Sea and the Bohai Strait, says the Chinese People's Liberation Army's Daily, the Chinese military's official newspaper. The China's military newspaper reported that eight days of "military missions" had begun on
Maersk Drilling has been awarded a 5-year contract extension for the semi-submersible Heydar Aliyev rig with BP Exploration (Shah Deniz) Limited acting as Operator of the Shah Deniz field . The rig will continue working on the development of the Shah Deniz field in the Caspian Sea
A pair of workers were sealed inside the ballast tank of a nuclear submarine in Plymouth, it has emerged, reports BBC. Colleagues had mistakenly sealed the tank at Devonport base in Plymouth, where Britain's nuclear submarines are refitted
The U.S. Interior Department on Wednesday granted Royal Dutch Shell two final permits to explore for crude in the Arctic this summer, but said the company cannot drill into the oil zone until required emergency equipment arrives in the region.
A piece of legislation aiming to stop offshore Arctic drilling was introduced last week by Oregon Senator Jeff Merkley. The legislation, entitled Stop Arctic Ocean Drilling Act of 2015, would prevent new or renewed leases for the exploration, development or production of oil
DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes, and through its subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, has announced the agreement with one of its charterers to write-off about $16