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CLIFFS DRILLING

R&B Falcon Reports 3Q Results

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


Quick Modification of Offshore Jack-Up Drilling Rigs

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.


Passenger Vessels:To the North, South —And A Little Island Sheltered

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


Nine Convicted Over 2007 Greek Cruise Sinking

Sea Diamond sinking off Santorini, Greece (AP photo / Christos Bekiaris)

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.


Titan Salvage Caps Busy First Quarter

Titan1_web.jpg

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


McDermott, Bay Begin Alliance at Harbor Island Facility

J. Ray McDermott, Inc., a subsidiary of McDermott International, Inc., and Bay Ltd. have formed a strategic alliance to pursue fabrication projects in the offshore oil and gas industry, using McDermott's Harbor Island facility near Corpus Christi, Texas. Under the alliance, J. Ray McDermott will provide overall project management, engineering and procurement services, as well as the assembly areas, lifting equipment dredged slip and bulkhead at Harbor Island.


M/Y Ronin Begins Refit at Knight & Carver

M/Y Ronin, the 192 ft. Lurssen owned by Oracle Corporation founder/CEO Larry Ellison, has arrived at Knight & Carver Yacht Center and is now undergoing a refit project scheduled for completion by August 2005. According to Captain Steven Bates, the project's emphasis will be on extensive audio/visual and IT upgrades, cabinet carpentry throughout all state rooms, re-caulking of the teak decks and hull paintwork. A full-time crew of Knight & Carver's tradesmen has been assigned to Ronin


GSSC Shipfitter Boot Camp Produces 18 for Industry

12 Graduate from GSSC Shipfitter Boot Camp and Have Jobs Waiting for Them. In November 2011, 18 individuals started an intensive 10-week shipfitter boot camp that was developed by the Gulf States Shipbuilders Consortium (GSSC) to prepare workers for entry-level employment in the maritime industry.  Before an invitation was extended to participate in the training program, candidates completed prequalification activities that included drug testing, WorkKeys® assessments


Container Cliff’ Imminent as Contract Negotiations Break Down

NRF Calls on President Obama to Immediately Intervene to Prevent Port Strike.   The National Retail Federation has issued the following statement from NRF Vice President for Supply Chain and Customs Policy Jonathan Gold on the breakdown of contract negotiations between the International Longshoremen’s Association and the United States Maritime Alliance, Ltd.: “It is extremely disheartening to learn that the two sides failed to reach an agreement during today’s


Bill Allowing Offshore Drilling Introduced in Congress

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


Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope would create jobs and boost national security, a spokesman for one of the companies and a lobbyist for another one said on Friday.


Rosneft Will Continue Arctic Drilling

The Kara-Winter-2014 Ice Expedition. (Photo Courtesy Rosneft)

Russia's biggest oil producer Rosneft will continue drilling in the Arctic Kara Sea on its own after the departure of its partner, U.S. oil major ExxonMobil, due to sanctions, the company's head Igor Sechin said on Friday.  


New Oil Field Found in British North Sea

Oil find

  GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f (licence P1588) and BP operated block 30/1c (licence P363) was flow tested at a maximum rate of 5


Sea Dispute Sparks China Diplomat to Vietnam Visit

Secretary Kerry Shows Chinese State Councilor Yang Overview of Boston Hometown. [State Department photo/ Public Domain]

China's top diplomat to visit Vietnam again amid sea dispute   China's top diplomat will visit Vietnam next week, China said on Friday, five months after he last visited during a period of tension over a Chinese oil drilling rig working in part of the South China Sea both countries claim.


New Dual Use Piracy Barrier Launched

Guardian Greenwater

Guardian Maritime launched Guardian Greenwater, a new product that was developed to deal with the issue of greenwater on-board deck following turbulent weather conditions, but also serves as piracy barrier but . It will be fitted onboard a tanker next month, its first installation.


Statoil: New Oil in the Grane Area

(Image: Statoil)

Statoil has together with PL169 partners proved new oil resources in the D-structure in the vicinity of the Grane field in the North Sea.   Well 25/8-18 S, drilled by the rig Transocean Leader, proved an oil column of 25 m in the Heimdal Formation


Offshore Oil: Lamprell Completes Caspian Sea Drilling Unit

(Jim Moffat, CEO of Lamprell. Source: Lamprell)

UAE-based Lamprell said that it completed construction of the second Caspian Sea jackup drilling rig, Mercury, for service in the Caspian Sea.   "I am delighted to report that we have completed the second drilling rig for use in the Caspian Sea


Messer to Debut MetalMaster Xcel

Image: Messer Cutting Systems

Messer Cutting Systems said it has answered the call from manufacturers that have been demanding a faster, more accurate way of producing cut parts. Messer’s MetalMaster Xcel features traversing speeds of 3,000 IPM, a robust design, with high acceleration drives


Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships. Petrobras, as the Brazilian oil company is known, will get the ships


Mærsk Deliverer's Contract extended

Maersk Deliverer

Cabinda Gulf Oil Company Limited, a Chevron subsidiary in Angola, has extended the current contract for the ultra deepwater semi-submersible Mærsk Deliverer expiring in June 2015 by two years. Mærsk Deliverer has since 2012 been working for Chevron and its partners on the Tombua


Transocean to Raise Money with Caledonia Offshore Offering

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that Transocean Inc., its wholly-owned subsidiary, intends to proceed with an unregistered offering of shares of Caledonia Offshore Drilling Company, a wholly owned subsidiary of Transocean, in connection with an offering being made to eligible


RH Petrogas’ Gets Green Light on Fuyu 1 Block

The approved ODP allows KRL to operate and drill up to 1,008 wells in Fuyu 1 Block over a course of five years. RH Petrogas Limited, which is engaged in the business of exploration, development and production of oil and gas resources, said that the Group’s Overall Development Plan for the


Early Contract Termination for Loke Viking

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As previously communicated, Viking Supply Ships has entered into an agreement with a major oil company for the charter of four AHTS vessels. The contract applies to the drilling seasons 2014 and 2015, with options for the drilling seasons 2016 and 2017


MacGregor Mooring Systems for Tender Rigs

Image of tender rigs

  MacGregor, part of Cargotec, has won new contracts that will see electrically-driven versions of its mooring systems fitted to two new tender assist drilling rigs for Thailand-based Mermaid Maritime Public Company Limited. The Self-Erected Drilling Tender (Hull No


Ocean Rig Partners Files for IPO

  DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc. of offshore deepwater drilling services, today announced that Ocean Rig’s wholly-owned subsidiary, Ocean Rig Partners LP  filed a Registration Statement on Form F-1 with the Securities and Exchange






 
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