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
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
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 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 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.
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.
Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June
Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered a KFELS B Class jackup rig to Mexican national oil company, Petróleos Mexicanos (PEMEX), safely, on time and on budget.
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices. Offshore drilling company Ensco said it had received notice to terminate BP-operated rig DS-4 in the Gulf of Mexico
China has been building artificial islands on reefs in the many disputed areas around the South China Sea. The unprecedented land reclamation currently being conducted by China is increasing tensions with the U.S. and its allies, according to Pacific Fleet Commander Harry Harris.
A federal court ruled on Wednesday that BP well site leaders on the Deepwater Horizon oil rig cannot be charged with seaman's manslaughter in the deaths of eleven workers that died during the 2010 rig explosion because they were not seamen.
Royal Boskalis Westminster N.V. (Boskalis) has been awarded a contract from Compañía Insular Americana, S.A. to construct a second artificial island off the coast near the residential area of Punta Pacifica in Panama City
The falling number of rigs drilling for oil in the United States is pointing to a decline in U.S. oil production in the second quarter, Goldman Sachs analysts said on Monday. Rig count in the United States fell by 56 last week to 866, the fewest since March 2011
Fleet Optimization is a broad term which might be described as the best practices and equipment that will make any collection of vessels more environmentally correct, economical and yes, attractive to prospective charterers. In this edition, it means whatever I say it means
A fire has broken out aboard the motor vessel Grey Shark at Homeport Pier in Staten Island, New York, Wednesday, The U.S. Coast Guard (USCG) reported. The USCG, FDNY, NYPD and the ship’s owners are working together to extinguish the blaze that ignited Sunday aboard the 360-foot
Transocean Ltd today issued a monthly Fleet Update Summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the February 17, 2015 Fleet Update Summary
The $50 billion Nicaragua Canal scheme promises to bring huge economic benefits to Central America's poorest country. But environmentalists and peasant farmers strongly oppose the project. And many are wary of the Chinese company that is to construct the canal.
Drydocks World, the international service provider to the shipping, offshore, oil, gas and energy sectors, have simultaneously berthed 11 rigs in the Dubai yard, breaking its record of nine rigs at the yard set in February this year.
Budget constraints are jeopardising Malaysia's defence spending plans, which include replacing ageing fighter jets and beefing up its maritime capabilities, at a time when Beijing is growing more assertive in the disputed South China Sea.
There’s a digital disconnect offshore. The communication standards we take for granted on land are cut adrift at sea; hampering data transfer for businesses, while severing individuals’ lifelines to social media networks. What’s to ‘like’ about that? Frode
Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said. Western sanctions against Russia, and Rosneft in particular