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Deepwater Program

GAO – USCG Deepwater Program

The Government Accountability Office (GAO) issued a Report concerning the Coast Guard's Deepwater Program to improve its offshore vessels and aircraft and related assets. The report found significant improvement in program management, but recommends continued vigilance. GAO-06-546 Source: HK Law


USCG Announces Deepwater Decision

The U.S. Coast Guard announced a 43-month award term extension of the performance-based contract for its Integrated Deepwater System (Deepwater) fleet modernization and recapitalization program. Integrated Coast Guard Systems (ICGS), a joint venture between Lockheed Martin and Northrop Grumman, received notification of the award today. The performance period of the award term will begin at completion of the base period in June 2007 and end in January 2011


Coast Guard Meets with Lockheed, Northrop

U.S. Coast Guard Commandant Adm. Thad Allen met last week with chief executive officers from Lockheed Martin Corp. (LMT) and Northrop Grumman Corp. (NOC) to discuss his agency's $24b modernization program, which has struggled with rising costs and technical difficulties. Lockheed Martin CEO Robert Stevens and Northrop Grumman CEO Ron Sugar met with Allen to talk about the Deepwater program's new management plan, the Coast Guard said.


Key Pieces of Coast Guard Legislation Passed

U.S. Congressman Elijah E. Cummings (D-MD), Chairman of the Subcommittee on Coast Guard and Maritime Transportation, today (June 26, 2007) convened the Subcommittee to mark up the Integrated Deepwater Program Reform Act, H.R. 2722 and the Coast Guard Authorization Act of 2007, H.R. 2830, which would reauthorize the Coast Guard. Both bills were adopted by voice vote. Congressman Cummings said, "The Integrated Deepwater Program Reform Act, H.R


USCG Awards $144M Deepwater Contract

The U.S. Coast Guard awarded a contract totaling $144 million to Integrated Coast Guard Systems for production and deployment of the Coast Guard’s second Maritime Security Cutter Large. The WMSL is the largest of three new cutter classes -- and the first under construction -- within the Coast Guard’s Integrated Deepwater System acquisition program. The Deepwater program will improve the Coast Guard’s counter terrorism, maritime homeland security and overall mission performance capabilities


Deepwater Funding at $724m in FY05 Budget

“Amid extraordinary challenges, our determination, our courage, and our common purpose remain steadfast.” The new appropriations bill provides $6.3 billion for the Coast Guard for FY 2005, an 8.6 percent ($500 million) increase over 2004, and a 66 percent ($2.5 billion) increase over 2001 levels. As part of funding for Coast Guard programs, the appropriations bill includes $724 million for the Deepwater multi year acquisition to modernize and recapitalize the Coast Guard’s inventory of


Future of USCG Deepwater Clouded

In the wake of Coast Guard Commandant’s Thad Allen’s report to Congress regarding the Coast Guard and the 2008 budget, question linger as to the progress and future direction of the Integrated Deepwater System (IDS), the Guard’s far-reaching but recently embattled plan to replace or modernize major Coast Guard cutters, offshore patrol boats, fixed-wing aircraft, multi-missioned helicopters and the communications equipment, sensors, and logistics systems.


Coast Guard Beefs up Deepwater Project Oversight

U.S. Coast Guard will beef up oversight of a $24 billion modernization project run by a Lockheed Martin Corp. and Northrop Grumman Corp. joint venture, amid mounting delays, soaring costs and design flaws, sources familiar with the move said on Monday. The venture, Integrated Coast Guard Systems (ICGS), will continue work on the program to overhaul Coast Guard ships, helicopters, airplanes and communications, known as Deepwater.


Bill to Reform Deepwater Acquisition Passes Committee

The House Committee on Transportation and Infrastructure passed the Deepwater Integrated Program Reform Act, H.R. 2722, authored by Congressman Elijah E. Cummings (D-MD), Chairman of the Subcommittee on Coast Guard and Maritime Transportation. The Committee also passed the Coast Guard Authorization Act of 2007, H.R. 2830, authored by the Chairman of the full Transportation Committee, James Oberstar (D-MN) and by Congressman Cummings. Both bills passed on voice votes.


House Judiciary Committee Approves FY 2008 Coast Guard Bill

The House Judiciary Committee approved the Fiscal Year 2008 authorization bill for the U.S. Coast Guard. The legislation has already cleared the House Homeland Security Committee and the House Transportation and Infrastructure Committee. Prior to final approval, the Judiciary Committee added language strengthening the Coast Guard’s ability to combat maritime smugglers of illegal immigrants and would rachet up security at ports and liquefied natural gas facilities


Oil Spill Conference Names Keynote Speaker

Eric J. McNulty: Photo courtesy of Harvard NPLI

Eric J. McNulty, Director, Research and Professional Programs, Harvard’s National Preparedness Leadership Initiative will deliver the Keynote Address at CLEAN GULF, the conference & exhibition focused on the latest trends and best practices in response operations oil spill prevention


DryShips Suspends Market Equity Offering

Photo: DryShips

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, announced that it has suspended purchases under its previously announced program of at the


DryShips to Resume Market Common Share Offering

Image courtesy of DryShips

Greece's NASDAQ-listed DryShips Inc. says it intends to resume sales under its previously announced $200 million program of 'at the market issuances' of its common shares through Evercore Group L.L.C. as its sales agent. To date, the Company has issued 6,892


Transocean Estimates 18-24 Months to Recovery

Reuters - Transocean Ltd, owner of the world's largest offshore drilling fleet, said it could take up to 18-24 months for demand to recover as customers delay drilling programs. Demand for offshore rigs is tapering as major oil companies trim exploration and production budgets in the face of


U.S. Coast Guard Recapitalization Briefing

Depicted: Coast Guard National Security Cutter

Uncertainty over budget talks leaves Coast Guard leadership to hedge their bets on future fleet mix, total numbers of hulls and operational capabilities.   On Wednesday, members of the media were invited to join Coast Guard senior leadership for a discussion about recent acquisition efforts


Ocean Rig UDW Inc. Announces Drilling Contract

Nicosia, Cyprus – Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has signed a new drilling contract for its semisubmersible drilling rig Eirik Raude with an independent operator, for work offshore West Africa.


Salazar Directs Deepwater Oil & Gas Containment Exercise

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MWCC to Deploy Capping Stack for Exercise in the Gulf.    As part of the Obama administration’s ongoing efforts to strengthen the oil and gas industry’s ability to respond in the event of a deepwater blowout and ensure that offshore oil and gas production can continue to


Ultra-Deepwater Program Funding for Remora

The Research Partnership to Secure Energy for America (RPSEA) selects Norway's Remora for negotiations leading to funding awards The Statement of Work (SOW) covers a 1 year study involving US operators and execution of Industry related work shops addressing various HiLoad DP offloading scenarios


Jones Act OSV New-build Program Expanded by Hornbeck Offshore

A Hornbeck OSV: Photo courtesy of Hornbeck Offshore

Hornbeck Offshore expands OSV new-build program, anounces retrofits & other related developments. The Company has exercised the first four of its 48 options to build additional HOSMAX vessels at an aggregate incremental cost of approximately $180 million


Semi-submersible Rig 'Erik Raude' Contracted

Ocean Rig UDW Inc.  has received a Letter of Intent to contract one of its semi-submersible drilling rigs, “Eirik Raude”, from an oil major. The Letter of Intent is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland


$14m Up For Grabs in RPSEA R&D Program

RPSEA Releases Ultra-Deepwater Program RFP  to fund research & development projects to secure energy for America. The Research Partnership to Secure Energy for America (RPSEA) announces the release of the remaining 2011 Ultra-Deepwater Program request for proposals (RFP) to award $14


Ocean Rig Charter Out 'Erik Raude'

Rig Erik Raude: Photo credit Ocean Rig

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland


By the Numbers: Oil Spill Response

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The Coast Guard’s Incident Specific Preparedness Review (ISPR) – January 2011 An explosion aboard the Mobile Offshore Drilling Unit Deepwater Horizon on April 20, 2010 set off a chain of events that led to its sinking and subsequent oil spill


Ocean Rig Updates on Financing, Newbuildings & Contracts

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, has announced the following: $1.35 billion Bank Facility The Company announced that it has signed a supplemental agreement to amend certain provisions in its $1.35b Senior Secured Facility dated February 28, 2013


Halliburton Guilty Plea in Deepwater Horizon Case

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Halliburton Pleads Guilty to Destruction of Evidence in Connection with Deepwater Horizon Disaster and Is Sentenced to Statutory Maximum Fine; Former Halliburton Manager Is Charged.   Halliburton Energy Services Inc. (Halliburton) pleaded guilty today to destroying evidence pertaining to


 
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