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 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
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
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
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
U.S. energy firms cut oil rigs for a third week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms keep slashing spending despite crude futures prices jumping roughly 50 percent since hitting a near 13-year low in February. Drillers cut 8 oil rigs in the week to April 8, bringing the total rig count down to 354, Baker Hughes said in its closely followed report.
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
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.
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
U.S. drillers this week added oil rigs for a third week in a row for the first time since August, according to a closely followed report on Friday, as producers seek more drilling permits after crude prices hit an 11-month high over $51 a barrel last week. Despite a decline in U.S. crude futures to one-month lows to under $47 this week, analysts and producers have said oil over $50 was a key level that would trigger a return to the well pad and drilling permits are a leading indicator
RSC Bio Solutions, a global leader in environmentally acceptable lubricants (EALs) and cleaners, has recently launched a new education campaign aimed at informing the industry and the general public on the causes and dangerous effects of petroleum-based oil spills and leaks on both land and water
Following the accident involving COSLInnovator on 30 December 2015, some 100 semi-submersible rigs approved by DNV GL will be reviewed. Preliminary assessments indicate that a limited number of rigs will be subjected to modifications or operational limitations.
Final preparations for moving the Transocean Winner rig onto the Hawk vessel are continuing and good progress has been made on the operation in Broad Bay. The anchors have now been disconnected and the rig is being held on four tugs about half a mile from the Hawk.
U.S. oil drilling has seen its best quarter since crude prices tumbled two years ago mainly due to small operators returning to the well pad, but analysts say the continued recovery in the rig count depends on whether OPEC's output reduction plan can bring the market back to $50 a barrel.
Singaporean rig builder Sembcorp Marine Ltd said it had agreed to buy the 15 percent of PPL Shipyard Pte Ltd it did not already own for about $115 million from PPL Holdings Pte Ltd and E-Interface Holdings Ltd. "This will enable the company to optimally manage the businesses
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
Cosco (Dalian) Shipyard Co., Ltd., a subsidiary of its 51 percent owned Cosco Shipyard Group Co., Ltd., has delivered two jackups to the Foresight Group of companies through United Arab Emirates-based drilling and rig management services firm Hallworthy International FZC.
There is growing concern regarding the environmental impact and associated costs of petroleum based fluid discharges. Petroleum is persistent and toxic. It damages living organisms including plants, animals and marine life for many years. While many believe that the bulk of this environmental
DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will see the start of a barren period for the offshore OFS and OFE sectors.
Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC) have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf, reports Press TV.
Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9. The Bureau of Safety and Environmental Enforcement (BSEE) said its Hurricane Response Team is activated and monitoring the operators’ activities
Evoqua Water Technologies will launch an updated version of its Chloropac Marine Growth Prevention System (MGPS) at maritime trade show SMM Hamburg on September 6, 2016. Designed to provide owners and operators with a cost competitive electrochlorination alternative to copper anode
1800 - During the Quasi-War with France, the schooner, USS Experiment, commanded by Lt. Charles Stewart, captures the French privateer Deux Amix off Barbuda, West Indies. 1814 - The sloop-of-war, USS Wasp, commanded by Johnston Blakely, sinks the British brig sloop, HMS Avon
ASRY, a ship and rig repair yard in the Arabian Gulf, has welcomed its 100th rig repair job to the yard, as 2016 posts the highest number of rig repair contracts in the yards history. The project is on the high specification jack-up rig ‘Bob Palmer’
U.S. drillers this week added oil rigs for an 11th week in the past 12, according to a closely followed report on Friday, although the rate of increases has slowed as crude prices remain below the key $50 a barrel level that spurs a return to the well pad.