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”)
Maersk Drilling delivered a profit of USD 164m (USD 218m) in the second quarter of 2016. The result is positively impacted by a strong operational performance with an average uptime of 98% and savings on operating costs, however partly offset by more idle days
Semco Maritime has welcomed the recent arrival of two Maersk Drilling high specification jack-up rigs to its Invergordon shipyard facility. Maersk Reacher will be berthed in the Queens Dock facility for an undisclosed duration, carrying out necessary upgrades and modifications
South Africa has become the seventh state to ratify the 2012 Cape Town Agreement. The treaty, which implements the Torremolinos Protocol, covers various fishing vessel safety requirements including radio communications, life-saving appliances and arrangements, and emergency procedures
Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based leading provider of fabrication, engineering and contracting services to the offshore and onshore oil and gas and renewable energy
Global integrated drilling waste management and environmental services firm, TWMA, has recently secured a £1.5 million contract with Apache on the WilPhoenix platform in the North Sea Beryl field. As part of TWMA’s fully integrated waste management solution
Royal IHC and Tompkins UK Limited are strengthening their strategic cooperation with IHC’s acquisition of a majority stake in Tompkins, the parent company of Modus Seabed Intervention and a partner in the TI Geosciences joint venture (that IHC and Tompkins created in 2015).
Kongsberg Maritime Ltd, the UK subsidiary of global marine technology company Kongsberg Maritime, welcomed customers to its Aberdeen training centre on Thursday 30th June for a seminar on the future of Dynamic Positioning Operator (DPO) Training and Certification
The Irish Coast Guard coordinated a successful Marine Search and Rescue demonstration on Saturday 16th July. The exercise in Moville Co Donegal involved some of Ireland’s principal Search and Rescue resources. Participants included Donegal based volunteer Coast Guard units
China and Russia will hold "routine" naval drills in the South China Sea in September, China's defence ministry spokesman Yang Yujun told a news conference on Thursday. The drills come at a time of heightened tension in the contested waters after an arbitration court in the Hague
U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast doubts on a substantial recovery in drilling this year with crude prices heading for their biggest monthly loss in a year.
On April 11, 2016 the U.S. Coast Guard (USCG) released the revised 2016 National Preparedness for Response Exercise Program (PREP) Guidelines. The new guidelines will become effective on June 10, 2016. Established under the Oil Pollution Act of 1990
The July 2015 grounding of icebreaker Fennica near Dutch Harbor, Alaska was found to be caused by inaccuracy of nautical charts in the area, according to the U.S. Coast Guard’s Report of Investigation (ROI). The Finnish multipurpose icebreaker, owned by Arctia Offshore
U.S. drillers this week added oil rigs for a sixth consecutive week, according to a closely followed report on Friday, despite crude prices falling to April lows below $40 a barrel this week. Some producers are still boosting spending on expectations for higher prices in the future.
DNV GL has welcomed the world’s largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered at Hyundai Heavy Industries in Ulsan, South Korea. Owned by the Houston-based drilling contractor Diamond Offshore
Gazpromneft Shelf, a subsidiary of Gazprom Neft, brought on production two more wells in Prirazlomnoye field in the Pechora Sea, bringing crude oil output to more than 6,000 tonnes/day. The company now has four production wells at its ice-resistant rig, located 60 km offshore