BAE Systems Plc warned that future employment prospects at its Govan shipyard near Glasgow are wholly dependent on new orders being won. The group was announcing completion of the $3.6 million rescue acquisition of Govan from Norway's Kvaerner agreed in July. BAE has agreed a 20 year lease of the land and buildings in a joint deal with port services group Clydeport Plc, which will own the site.
Ithaca Energy Inc. announced completion of flow test operations on the third development well on the Stella field, with the well achieving a flow rate of 12,492 barrels of oil equivalent per day. Well 30/6a-B1Z (“B1”) is the third development well drilled on the Stella field. The well was drilled to a total measured depth subsea of 16,185 feet, with a 2,147 foot gross horizontal reservoir section completed in the Palaeocene Andrew sandstone reservoir
Genco Shipping & Trading Limited announced that it has agreed to acquire six drybulk vessels with an average age of approximately 2 years from affiliates of Evalend Shipping Co. S.A. for an aggregate purchase price of approximately $336m. The acquisition is subject to the completion of customary additional documentation and closing conditions. Genco plans to finance the acquisition through borrowings under its $1.4b revolving credit facility.
Hercules Offshore, Inc. said that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. The contract for the Hercules 260 is expected to commence in late first quarter 2008 following the completion of shipyard work on the
Canyon Offshore, Inc., has announced that it has been awarded drill support contracts on board the drilling rig Rowan Midland for its new electric Work Class ROV, Quest #3. In June, Canyon mobilized the new built Quest #3 on board the rig for Energy Resource Technologies, Inc. (ERT) to support ERT’s re-entry well work on East Cameron block 374. Upon completion of the ERT contract, Canyon will provide ROV services to Remington Oil & Gas at East Cameron 377 to support drilling and completion
Spirit of New Jersey Schedules $1.5 Million Renovation for Completion in Spring 2012. Entertainment Cruises, the largest harbor cruise company in the United States, today announced that plans are underway for a $1.5 million renovation of the Spirit of New Jersey, scheduled for completion in time for the spring/summer season. It will feature quality improvement initiatives aimed at modernizing the vessel and providing a fresh and trendy dining and entertainment experience.
Northrop Grumman Corporation announced that the nation's newest and most advanced nuclear-powered aircraft carrier, Ronald Reagan (CVN 76), has successfully completed acceptance sea trials. The Reagan is the ninth Nimitz-class carrier built by Northrop Grumman's Newport News sector. The acceptance trials are conducted with representatives of the U.S. Navy Board of Inspection and Survey for testing and evaluation of the ship's systems and performance.
Atwood Oceanics, Inc., (NYSE:ATW) a Houston-based international drilling contractor, announced that the Richmond has been awarded a contract by Applied Drilling Technology, Inc. to drill one well in the U.S. Gulf of Mexico at a dayrate of $52,500. This well (estimated to take 40 days to complete) will be drilled immediately following the completion of the rig's current contract which is expected to terminate in late April 2009 or early May 2009.
Golar LNG announced an agreement to sell its existing interest in new building DSME hull number 2244 to Maran Gas for $92.5m, this represents an implicit vessel price of $201 million. Golar estimates that its book cost of investment in this vessel at completion of the sale will be approximately $51.5 million and this transaction therefore represents a significant return on investment for shareholders.
Aries Maritime Transport Limited announced that it expects to complete repairs to the Bora, a 2000-built double-hull products tanker, before the end of the second week of October 2006 at a total cost of approximately $1.3 million. Following the completion of repairs, Aries plans to initially employ the vessel in the spot market prior to securing a period charter. The Company's previous time charter arrangement with FR8
Rolls-Royce today announced the completion of its acquisition of Rolls-Royce Power Systems (RRPS). The move follows an announcement made on March 7, 2014 that the Board of Management of Daimler AG had decided to exercise the put option relating to its 50% equity interest in RRPS and the
Elliott Bay Design Group (EBDG), a naval architecture and marine engineering firm with offices in Seattle, New Orleans and Ketchikan, Alaska, today announced the completion of the M/V Columbia repower. EBDG provided design services and ongoing owner support services for the ferry's repower
The US Department of Defense informs that it has awarded Boh Bros. Construction Co., LLC, New Orleans, Louisiana, a US$116,956,672 firm-fixed-price contract with options for the Southeast Louisiana Urban Flood Control Project's widening of the Florida Avenue Canal, Phase II and III, Orleans Parish
Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, announced that its wholly owned subsidiary, Chariot Brasil Petróleo e Gás Ltda., has signed a farm-out agreement with AziLat Limited through its local subsidiary AziBras
The Board of Commissioners of the Port of New Orleans awarded a $13.3 million construction contract to Metairie, La.-based Hard Rock Construction LLC today for the Mississippi River Intermodal Terminal improvement project at its monthly meeting
The Defense Threat Reduction Agency announces the successful completion of the Cape Ray's mission to destroy Syria's chemical weapons components at sea. The Defense Threat Reduction Agency/U.S. Strategic Command Center for Combating Weapons of Mass Destruction (DTRA/SCC-WMD) is pleased to
Star Bulk entered into a definitive agreement with Excel Maritime Carriers Ltd., and as a result, will acquire 34 drybulk vessels for an aggregate of 29.917 million shares of common stock of Star Bulk and $288.39 million in cash. Star Bulk Carriers Corp
Liquefied Natural Gas Limited has advised that the U.S. Department of Energy has revised procedures that could result in faster approval of applications to export LNG to non-Free Trade Agreement (Non-FTA) countries. The company had in October 2013 applied for approval to export 8
Bergen Group ASA announced it has signed an agreement with Calexco S.a.r.l. regarding sale of the remaining 30 % shares in NorYards AS for a price of $4 million. The completion of the transaction is expected to take place by end of August 2014
Fastnet the UK and Irish listed E&P company focussed on near-term exploration and appraisal acreage in Morocco and the Celtic Sea, is pleased to announce that it has entered into an amended exclusive option agreement with PSE Kinsale Energy Limited ("Kinsale Energy")
GasLog Partners LP and GasLog Ltd. announced today that they have entered into an agreement for the Partnership to purchase from GasLog, the sole member of the Partnership’s general partner and the Partnership’s majority unitholder
Irving Shipbuilding’s Halifax Shipyard Modernization Program, a two-year engineering and construction investment to prepare the company’s facilities to build Canada's future combatant ships, is well underway. View a time lapse video of the yard modernization progress via the
American Power Group Corporation (APG) announced they will be working with Marine Fuel Conversions, LLC (MFC) to evaluate potential applications and opportunities for APG’s dual fuel solution specifically in marine applications including on-board prime and ancillary power as well as port
Fortis Inc. and UNS Energy Corporation announced today the issuance of the final written approval by the Arizona Corporation Commission of the Corporation's agreement to acquire UNS Energy. As a result, all conditions precedent to completing the Acquisition have been fulfilled other than
Canada-based Aecon Group Inc. has reported its financial results for the second quarter of 2014, excerpted as follows: Highlights Revenue was $590 million for the second quarter of 2014 compared to $698 million for the same period of 2013