Leiv Eiriksson News

While the average person may have a little trouble placing the name Jan De Nul, as in “JDN Group”, that’s not necessarily the case throughout parts of Europe and in nautical circles. There the Belgium-based company is known for its dredging capabilities and high-profile projects in Dubai and the Suez Canal.In addition to dredging, JDN is building a reputation as a global player in its other business segments: offshore services, civil engineering, and environmental. Today, the company continues to invest heavily in all areas of the business.

Oil and gas companies Equinor and ConocoPhillips on Friday received approvals for drilling of offshore wells in the North Sea, and the Norwegian Sea, respectively.Equinor has been given a regulatory approval from the oil and gas safety body PSA Norway to drill a sidetrack in an exploration well 35/11-24 in the North Sea, at the Swisher prospect.The well 35/11-24 B will be drilled in the water depth of 356 meters. Equinor will use Seadrill’s 2008-built West Hercules semi-submersible drilling rig. The drilling is expected to take 63 days to complete.The drilling of the Swisher follows a recent success by Equinor at the Atlantis well, using the same rig, also in the North Sea.

Jan De Nul group of the beginning of work on dredging and expansion on an internal ship canal and a turning circle in port of Nouadhibou (Mauritania), one of the largest centers through which iron ore from the country is exported, is told in the group message.With the deepening and widening of the 25-km long entrance channel to the mineral terminal of Port of Nouadhibou, the National Industrial and Mineral Authority of Mauritania (Société Nationale Industrielle et Minière or SNIM) opens the port for vessels with a capacity of up to 250,000 tonnes.One of Jan De Nul’s largest Cutter Suction Dredgers Zheng He arrived in the first week of October on site.

The international contractor of offshore deepwater drilling services Ocean Rig UDW  has entered into a new drilling contract with Chariot Oil & Gas Limited for a one-well drilling program, for drilling offshore Namibia.The contract is expected to commence in direct continuation of the previously announced program with Tullow Namibia Limited in the third quarter of 2018 and will be performed by the Ocean Rig Poseidon.Ocean Rig has entered into a Letter of Intent (LOI) with a European Major Oil Company for a firm two-wells program plus two optional wells, for drilling offshore West Africa.The contract is expected to commence in direct continuation of the program with Chariot Oil & Gas Limited in the fourth quarter of 2018 and will be performed by the Ocean Rig Poseidon…

Ocean Rig UDW, contractor of offshore deepwater drilling services, has announced that Lundin Norway AS, has declared their third option to extend the existing contract of the Leiv Eiriksson. In addition, Ocean Rig has granted Lundin 2 additional options to drill further wells in the future. As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options, currently un-declared, the rig could be employed until the first quarter of 2019. The total expected revenue backlog, including all the optional wells, is expected to be $85 million.

Damen Shiprepair & Conversion (DSC) has recently completed works in Vlissingen and Brest on two major vessels in the fleet of dredging and marine construction specialist Jan de Nul Group. One of these is the Vole au vent, a 140-meter jack-up vessel built specifically for the installation of the latest generation of offshore wind turbines. The other is the trailing suction hopper dredger Leiv Eiriksson. Both vessels are among the largest in their classes, anywhere in the world.

Ocean Rig UDW Inc, the offshore drilling contractor, posted revenue of $452.6 million in the second-quarter, beating Wall Street forecasts. Three analysts surveyed by Zacks expected $385.7 million. The company has reported second-quarter profit of $155.6 million. The company said it had profit of $1.83 per share. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share. "Despite the continued positive operational performance of the Company (fleet utilization for the second quarter of 96.3%) the market conditions remain extremely negative. Oil companies continue to reduce their offshore budgets and as more floaters come off contract in the next six months…

Nakilat-Keppel Offshore & Marine (N-KOM), the joint-venture shipyard of Keppel Offshore & Marine and Nakilat, continues to see strong interest for its ship repair services in 2015, having already delivered more than 450 projects for shipping and oil and gas companies over the past four years. Among the shipyard’s list of customers are Odfjell, Maran Gas Maritime, Diamond Shipping, Springfield Shipping, Maran Tankers, Donnelly Tankers, Synergy Maritime, Euronav, Dynacom Tankers, Jan de Nul, V Ships, Synergy Maritime, NYK Shipmanagement and many others.

SENER has commemorated the 50th anniversary of FORAN, its CAD/CAM/CAE system for designing naval vessels and marine structures, created by SENER’s cofounder José Manuel de Sendagorta in the 1960s. Today it is the world leader in marine technology and, since its inception, it has served as the prime example of SENER’s ability to innovate and export. The event was held at Madrid’s Casino on the evening of Thursday, June 11, under the auspices of SENER’s founder and Honorary President…

The FORAN System celebrates half a century in 2015. With 50 years of active service, FORAN is the longest standing CAD/CAM/CAE software on the market and a technological asset for the engineering and technology group SENER, which has placed its trust in this project throughout its history as a hallmark of its identity. To commemorate this anniversary, SENER will host an event in Spain with the presence of FORAN customers worldwide. FORAN, an acronym of FORmas ANalíticas (ANalytic FORms)…

The FORAN System celebrates half a century in 2015. With 50 years of active service, FORAN is the longest standing CAD/CAM/CAE software on the market and a technological asset for the engineering and technology group SENER, which has placed its trust in this project throughout its history as a hallmark of its identity. To commemorate this anniversary, SENER will host an event in Spain with the presence of FORAN customers worldwide. FORAN, an acronym of FORmas ANalíticas (ANalytic FORms), is a complete CAD software for the design, construction and engineering of all kinds of ships and marine units. FORAN allows for the efficient creation of a complete and detail 3D virtual model of the vessel…

RWE Dea Norge AS, operator of production licence (PL)420, is completing drilling operations on appraisal well 35/9-11-S and sidetrack 35/9-11-A on the Titan discovery, 16 kilometres west of the Gjøa Field in the North Sea. The purpose of the well was to delineate the Titan discovery towards the south and to reduce the uncertainties in reservoir thicknesses and reservoir properties. With the appraisal well, oil was proven in the Heather Formation, the Brent Group, the Drake Formation, the Cook Formation and the Statfjord Formation. RWE Dea Norge carried out extensive data collection and sampling of the reservoir, including five so-called mini-DSTs.

Ocean Rig UDW Inc international contractor of offshore deepwater drilling services reports unaudited losses in Q4 & year-end 2912 financial results. For the year ended 2012, the Company reported a net loss of $132.3 million, or $1.00 basic and diluted loss per share. ◦    Costs associated with the 10-year class survey for the Eirik Raude of $65.5 million, or $0.50 per share. Excluding the above items, the Company's net results would have amounted to a net loss of $66.8 million, or $0.50 per share. •    The Company reported Adjusted EBITDA of $354.4 million for the year ended 2012, as compared to $387.9 million for the year ended 2011.

Ocean Rig UDW Inc. provider of offshore deepwater drilling services announce that Pankaj Khanna, Chief Marketing Officer, has left the company. Mr. Khanna departed on 2, October 2012 to pursue other interests and his duties will be absorbed by the existing management team. Ocean Rig, headquartered in Cyprus, owns and operates 6 Drilling Units, the 2 drilling rigs Leiv Eiriksson and Eirik Raude and the 4 drill ships Ocean Rig Corcovado, Ocean Rig Olympia, Ocean Rig Poseidon and Ocean Rig Mykonos. All 6 units are constructed for Ultra Deep Waters and Harsh Environment. In addition it has 3 Ultra Deep Water Drillships under construction, capable to work in 12, 000 feet water depth.

Ocean Rig UDW Inc. (NASDAQ:ORIG) signed a new drilling contract for its semisubmersible drilling rig “Leiv Eiriksson” with a consortium coordinated by Rig Management Norway for drilling on the Norwegian Continental Shelf. total revenue backlog is estimated at $653 million for a minimum period of 1070 days. The new contract is a well-based contract for 15 wells and will commence in the fourth quarter of 2012 or the first quarter of 2013. The contract includes three options of 6 wells each that have to be exercised well in advance of the expiry of the firm period. George Economou, Chairman and Chief Executive Officer of Ocean Rig UDW Inc commented “We are pleased to announce this long-term contract with a strong consortium for work on the Norwegian Continental Shelf…

DryShips Inc. (NASDAQ: DRYS) announced its unaudited financial and operating results for the second quarter and six month period ended June 30, 2011. For the second quarter of 2011, the company reported a net loss of $114.1m, or $0.33 basic and diluted loss per share. Included in the second quarter 2011 results are infrequently occurring and non-cash items, totaling $131.5 million, or $0.37 per share which are described below. Excluding infrequently occurring and non-cash items, the Company’s net results would have amounted to a net income of $17.4 million or $0.04 per share. - Impairment losses from the sale of vessels La Jolla, Conquistador, Samsara, Brisbane and Toro, net of gain from the total loss of the Oliva, amounting to $87.0 million, or $0.25 per share.

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced today that Ocean Rig UDW Inc., its majority owned subsidiary, has secured further backlog, as Borders & Southern plc have declared two optional wells under the existing drilling contract for the harsh environment drilling rig Leiv Eiriksson. The two optional wells have been assigned to Falkland Oil and Gas (FOGL) and provide an additional contract duration of approximately 90 days.

DryShips Inc. (NASDAQ: DRYS), or the Company, a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, today announced its unaudited financial and operating results for the first quarter ended March 31, 2011. * On May 12, 2011, the Company was awarded contracts for the Ocean Rig Corcovado and the Ocean Rig Mykonos by Petróleo Brasileiro S.A (“Petrobras”) for drilling offshore Brazil.

According to a report from PennEnergy, on April 21, a group of 11 Greenpeace protesters climbed the Leiv Eiriksson semisubmersible drilling rig  to stop its mobilization. The Leiv Eiriksson was slated to depart Turkish waters for a drilling campaign in the Baffin Bay offshore Greenland. Cairn Energy contracted the rig to perform exploration drilling in the Arctic waters offshore Greenland in an ongoing effort to establish the region as a new oil and gas province.   (Source: PennEnergy)

DryShips Inc. (NASDAQ: DRYS) announced that its subsidiary Ocean Rig UDW Inc. has entered into firm contracts with Cairn Energy PLC for the Leiv Eiriksson and the Ocean Rig Corcovado for a period of approximately 6 months each. The total contract value including mobilization for the Leiv Eiriksson is approximately $95m. The mobilization period will start in direct continuation from the agreed release date from Petrobras. The total contract value including mobilization and winterization of the Ocean Rig Corcovado is approximately $142m. George Economou, Chairman and Chief Executive Officer of DryShips commented:  " Following the signing of these contracts we are only left with one open drillship, the Ocean Rig Mykonos, that delivers in the fourth quarter of 2011.

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced that its subsidiary Ocean Rig UDW Inc. has entered into a drilling contract for its 3rd drillship newbuilding Ocean Rig Poseidon. As part of this agreement, the Leiv Eiriksson will be released early from the existing contract and will be made available in Q2 2011. The firm contract period is for about 600 days plus a mobilization period. The total contract value including mobilization is $353m.

October 2009 saw the launching of the dredger, Leiv Eiriksson, from Spain’s Basque country. A sister ship to the record-breaking Cristóbal Colón that was launched in July 2008, the Leiv Eiriksson shares common specifications, featuring two MAN 16V48/60B medium-speed main engines and complete propulsion trains. The two vessels were ordered by Dredging and Maritime Management S.A., a subsidiary of leading dredging contractor, the Jan de Nul Group, based in Luxembourg. Construction took place at the La Naval shipyard in Sestao, Spain, part of Spanish shipbuilder Construcciones Navales del Norte.

DryShips Inc. (NASDAQ: DRYS), a global provider of marine transportation services for drybulk cargoes and offshore oil deep water drilling, announced its unaudited financial and operating results for the third quarter and nine month period ended September 30, 2009. "We are pleased to report another quarter of profitable operating results for DryShips as both our drilling and drybulk units continued to perform at high utilization rates. We are particularly pleased with the high utilization rates achieved by the Eirik Raude, which is drilling off Ghana at the Jubilee field for Tullow Oil. The Leiv Eiriksson is expected to complete its assignment with Shell in the North Sea during October and commence mobilization for drilling operations in the Black Sea under a 3-year contract for Petrobras.