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”)
Singapore-based rig builder Keppel Offshore & Marine saw profits fall for last year along with revenues. It also revealed work had slowed on rigs being built for Sete Brasil with the Brazilian company not making payments in over a year.
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered Halul, a KFELS B Class jackup rig, to Gulf Drilling International Ltd. (q.s.c) (GDI) of Qatar. Completed on 21 January 2016, ten days ahead of schedule, and on budget
Wärtsilä, the leading global supplier of flexible and efficient power plant solutions and services, has signed a maintenance agreement with Ensco, a global provider of offshore drilling services to the petroleum industry. The agreement, signed in September 2015
Zentech Incorporated of Houston, Texas, USA signed contracts with CSSC Huangpu Wenchong Shipbuilding Company Limited for the construction of (2) Z-210 Mobile Offshore Units. These contracts were finalized based on the Letter of Intent received by CSSC Huangpu Wenchong Shipyard on September 23,2015
A policy of safety enhancement has resulted in Odfjell Drilling recruiting the expertise of Miko Marine to design and manufacture a complete package of sea chest covers and cofferdams that use magnetic holding technology for increased efficiency.
A consortium of Japanese shipyards decided to sell its stake of Ecovix, which controls the Rio Grande Shipyard, reports Reuters. Mitsubishi Heavy Industries, four other shipbuilders said in October 2013 acquired 30% of Ecovix-Engevix Construcoes Oceanicas in a deal reportedly worth
The U.S. oil rig count this week dropped to the lowest level in over five years as energy firms stepped up the rate of idling rigs after one of the worst years in almost 30 years for drilling, data showed on Friday. Drillers removed 20 oil rigs in the week ended Jan
International law firm Ince & Co has announced that it has advised Fugro on a sale and lease back agreement with ICON Investments regarding two of its geotechnical drill ships Fugro Scout and Fugro Voyager. ICON financed the acquisition of the vessels by loan facilities from a syndicate of
Launched in March 2015, the CJ54 cantilever drilling jack-up has recently received full Basic Design Approval from two major international offshore drilling classification societies; ABS and DNV GL. Designed in accordance with the required safety standards of both ABS and DNV GL
Webb Institute has appointed Benjamin H. Scott as the Assistant Professor of Marine Engineering. Scott is a design engineer with over 30 years of experience in thermal and hydraulic analysis, heat exchanger design, thermal performance testing and fluid system design.
U.S. energy firms this week continued to cut the number of rigs drilling for oil to the lowest in nearly six years, data showed on Friday, suggesting drillers were preserving cash as they evaluate spending plans as crude prices hover near 12-year lows.
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, today announces that in conjunction with its partners AziNam (20%), NAMCOR (10%) and Ignitus (5%), it has commenced a 3D seismic acquisition survey of approximately 2
In mid-2014, rig caused worst breakdown in ties in decades. China's Foreign Ministry said on Wednesday that a $1-billion deepwater oil rig was not drilling in disputed territory in the South China Sea, in response to a warning from Vietnam against such activity.
Huangpu Wenchong Shipbuilding has secured newbuild contracts for a 17,000dwt asphalt carrier and a 38,800dwt bulk carrier. The eco-friendly bulk carrier is scheduled to be delivered from the shipyard by end-2017. Financial details of the deal were not disclosed.
Chinese maritime officials on Friday removed an online notice giving the location of a $1-billion deepwater oil rig in the South China Sea two days after issuing it, following a warning from Vietnam about drilling in disputed waters. Vietnam closely tracks the movement of the oil rig