Land Rig

GlobalSantaFe Announces First Quarter Results

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported net income for the first quarter ended March 31, 2004, of $8.7 million, or $0.04 per diluted share, on revenues of $380.0 million, as compared to net income of $45.9 million, or $0.20 per diluted share, on revenues of $424.4 million for the same quarter in 2003. Net income for the first quarter 2003 included $22.1 million, or $0.10 per diluted share, from the settlement of a claim filed in 1993 with the United Nations Compensation Commission. Revenues for the first quarter of 2004, and 2003, exclude $26.9 million and $28.6 million, respectively, related to revenues from land rig drilling operations, which are reflected as discontinued operations. As previously reported, GlobalSantaFe has entered into an agreement to sell its worldwide land drilling assets, with the transaction expected to be completed during the second quarter of 2004.

Parker Drilling Report on Barge Rig Fleet

Parker Drilling Company (NYSE: PKD) has posted a report on the company's Gulf of Mexico barge rig fleet updating rig status and contract information as of February, 2009. The company expects to update this report monthly. The report is intended to provide analysts and investors with information about activity in Parker's U.S. Barge Drilling segment. The report "Gulf of Mexico Barge Rig Fleet" is available through the company's Web site at www.parkerdrilling.com

Current Onshore Rig Boom Could Be Halted By Next Year

The boom in U.S. onshore oil and natural gas drilling has yet to peak, bolstering forecasts of continued strong demand for rigs, analysts and executives said this week. But growth in the onshore rig market is likely to slow down next year, and activity in the offshore market is already tailing off, with some companies sending rigs away from the Gulf of Mexico to other countries where profits may be better. "We expect to see 30 to 33 percent growth in the total U.S

GlobalSantaFe Announces 3Q Earnings

Worldwide oil and gas drilling contractor GlobalSantaFe Corp. reported net income for the third quarter ended September 30, 2003, of $15.1 million, or $0.06 per diluted share, on revenues of $458.1 million, as compared to net income of $75.0 million, or $0.32 per diluted share, on revenues of $514.4 million for the same quarter in 2002. For the nine months ended September 30, 2003, GlobalSantaFe reported net income of $104.9 million, or $0.45 per diluted share, on revenues of $1,408

Rowan 3Q Operating Results

For the three months ended September 30, 2008, Rowan Companies, Inc. (NYSE: RDC) generated net income of $114.1m or $1.00 per share, compared to $130.8m or $1.16 per share in the third quarter of 2007 and $120.6m or $1.06 per share in the second quarter of 2008. Revenues were $527.1m in the third quarter of 2008, compared to $502.2m in the third quarter of 2007 and $587.1m in the second quarter of 2008. The third quarter 2008 results included $21.4m, or $0

Hercules Offshore 4Q and 2008 Results

On Feb. 10, Hercules Offshore, Inc. (NASDAQ:HERO) reported income from continuing operations of $37.4m, or $0.42 per diluted share, on revenues of $313.5m for the fourth quarter 2008, excluding the effects of non-recurring items, compared with income from continuing operations of $32.8m, or $0.37 per diluted share, on revenues of $244.2m for the fourth quarter 2007. Income from continuing operations for the twelve months ended December 31, 2008, was $95.7m, or $1

No Relief Yet

Oilfield service companies were not nearly as lucky as their oil producing counterparts. While net income in the oil producing industry was up over the 1998 third-quarter, oilfield service companies were still feeling the pain of the low oil prices from earlier in the year. While the stock market - the global business measuring stick - has generally been positive on the offshore oilfield sector throughout much of the year, there has been a relapse of sorts in October

Sembcorp Marine Acquires A 50 Percent Stake In PPL Shipyard

SembCorp Marine has signed a Sale and Purchase Agreement with PPL Holdings Pte Ltd to acquire a 50 percent equity stake comprising 10,000,000 shares of $1.00 each in PPL Shipyard Pte Ltd. (PPLS) for $16 million. PPLS' business is primarily in oil rig and vessel construction as well as steel fabrication. It has recently secured a contract for the construction of two jack-up drilling rigs, each having a value of $125 million, from Sante Fe International Corp

SembCorp Lands Dual Rig Contract

SembCorp Marine Ltd, a subsidiary of SembCorp Industries Ltd said on Wednesday it had secured two rig contracts from Santa Fe International Corporation worth about $570 million. SembCorp said that its associated company PPL Shipyard Pte Ltd would construct two deepwater semisubmersible drilling rigs plus options for two additional drilling units. The first two rigs will cost approximately $285 million each, with the option rigs priced slightly higher.

Hercules Closes Sale of Fleet

Houston-based Hercules Offshore Inc. reported it has closed the previously announced sale of its fleet of nine land drilling rigs and related assets to Petrex Sudamerica Sucursal de Venezuela S.A. and Saipem Perfuracoes e Construcoes Petroliferas Lda. for $107 million. Hercules operates a fleet of 33 jack-up rigs, 27 barge rigs, 65 liftboats, three semisubmersible rigs, one platform rig and fleet of marine support vessels.