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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


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


Titan Salvage Caps Busy First Quarter

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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


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.


ABB Wins Offshore Contracts of $150m

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


First Riser-Drilling in Earthquake Zone

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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 Delivers PV Drilling III Jackup Early

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


Alaska Drill Rig Refit Contract Terminated

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”)


Statoil Launches New Subsea Concept

Cap-X Image by  Statoil

 Norwegian oil major Statoil presented a new subsea concept that is designed to reduce cost and increase efficiency. The concept is called Cap-X.   The  concept was presented by Margareth Øvrum, executive vice president for technology, projects and drilling in Statoil.


Transocean Provides Fleet Status Report

Photo: Transocean Ltd

 Transocean, the world's leading offshore drilling contractor with 61 rigs in its fleet, has issued a Fleet Status Report that provides the current status of and contract information for the company's entire fleet of offshore drilling rigs.   


Ocean Rig buys Cerrado drillship

Photo: Ocean Rig

 Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April.  


Orion Marine Concepts Launches Q-Strata Software

Aiming to provide niche control over managed/owned vessels, Indian maritime based software provider Orion Marine Concepts has released a strategic intelligence software suite approved by DNV GL.   Orion Marine along with Chembulk Tankers


Schlumberger Led Consortium Wins Malaysia Offshore Survey

Image: TGS

 Malaysia has opened an area of its offshore waters to the multi-client seismic model for the first time. The move is a result of a new initiative by Petronas to stimulate offshore E&P investment activity.   “A consortium comprising of PGS, TGS and Schlumberger WesternGeco


Schlumberger, Cameron Merger Complete

Park Towers South Houston Texas headquarters of Cameron

Schlumberger Limited (NYSE:SLB) announced today that it has closed its merger with Cameron International Corporation. As previously announced, each Cameron stockholder is entitled to receive 0.716 shares of Schlumberger common stock and $14.44 in cash, in exchange for each Cameron share


Vietnam to China: Shift Rig, Abandon Drilling Plans

Vietnam demanded China move a controversial oil rig on Thursday and abandon plans to start drilling in waters where jurisdiction is unclear, the latest sign of festering unease among the two communist neighbours. The $1 billion rig, which was at the centre of a fierce diplomatic stand-off


US Oil Drillers Cut Rigs to Nov 2009 Lows

U.S. energy firms cut oil rigs for a third week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms keep slashing spending despite crude futures prices jumping roughly 50 percent  since hitting a near 13-year low in February.


Obama to Issue New Offshore Drilling Rules

(White House photo)

The Obama administration will announce Thursday safety regulations for offshore oil and natural gas drilling to prevent the kind of explosion that happened six years ago on a BP rig in the Gulf of Mexico, an official told Reuters. The Department of Interior will unveil the final version of its


Six Years after BP Spill, US Sets New Offshore Oil Safety Rules

Gas from the damaged Deepwater Horizon wellhead is burned by the drillship Discoverer Enterprise in May 2010, in a process known as flaring. (U.S. Coast Guard photo by Patrick Kelley)

The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf of Mexico.   The Interior Department's Bureau of Safety and Environmental Enforcement announced the finalized regulations


DNV GL's Examines the next Decade's Tech Outlook

Every five years, DNV GL publishes a Technology Outlook report providing insights into the technology landscape of the next decade. Its latest report focuses extensively on top tech trends and the future outlook for maritime, oil and gas, energy, and life sciences.  


Italians Go to polls for Drilling Referendum

Prime Minister Matteo Renzi Photo MatteoRenzi website

Italy went to the polls on Sunday for a referendum on off-shore oil and gas drilling rights, a complex issue that the government hopes voters will shun. For the ballot to be valid, more than 50 percent of the Italian electorate must vote and Prime Minister Matteo Renzi has urged people to stay


Repair of Two Semi-submersible MODU Completed

Repair of Polyarnaya Zvezda and Severnoye Siyaniye, semi-submersible mobile offshore drilling units (MODU) of the sixth generation, has been completed under survey of Russian Maritime Register of Shipping (RS) at Yantai CIMC Raffles Offshore Shipyard Ltd. in Yantai, China. Mr


Long Joins SEACOR Holdings as Executive VP

SEACOR Holdings Inc. has appointed William “Bill” C. Long as the company's Executive Vice President, Chief Legal Officer and Corporate Secretary, effective immediately. He will report directly to Charles Fabrikant, SEACOR's Executive Chairman and Chief Executive Officer.  


Cyprus LNG Terminal Non-starter?

Cypriot President Nicos Anastasiades. Photo: Cyprus Govt

 Cypriot President Nicos Anastasiades has said that building an LNG terminal in Cyprus will depend on discoveries and the results of the country’s third licensing round.   Discussing the Cyprus Exclusive Economic Zone’s third licensing round






 
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