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Offshore Pay

Major Shallow Water Oil and Gas Find

Sperry-Sun, a Division of Dresser Industries, Inc., participated in drilling a significant crude oil and natural gas discovery in Anadarko Petroleum Corp.'s subsalt exploration program. This discovery - called Tanzanite - is located in the Gulf of Mexico at Eugene Island South Addition Block 346 in 314 feet of water about 75 miles offshore Louisiana. Anadarko believes the Tanzanite field contains at least 140 million boe. Sperry-Sun provided pressure-while-drilling (PWD) services from 11,000 ft. MD to TVD of 14,350 ft. in drilling the exploration well (the OCS-G 14482 No. 1) and provided full "triple combo" services from 11,800 ft. MD to 13,643 MD. In this latter portion of the well, 450 ft. of continuous hydrocarbon pay were encountered; three additional pay zones totaling approximately 70 ft. of net pay are also present in the wellbore. Sperry-Sun's triple combo services provided the log of record for the hole.


Hornbeck Completes Sea Mar Fleet Acquisition

Hornbeck Offshore Services, Inc., has completed its previously announced acquisition of 20 offshore supply vessels (OSVs) and their related business from certain affiliates of Nabors Industries Ltd. for cash consideration of $186m, plus the cost of the fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-ft


NOIA Applauds Passage of HR 1230

NOIA.bmp

Washington, D.C. – The National Ocean Industries Association (NOIA) congratulates the U.S. House of Representatives for the bipartisan passage today of H.R. 1230, “Restarting American Offshore Leasing Now Act.”  If enacted by the full Congress and signed into law by the President, the bill requires that federal offshore lease sales that have been delayed start up again in the Gulf of Mexico and off the east coast of the United States.


DOI Signs Agreement on 1998/1999 Lease

s ssistant Secretary of Land and Minerals Management, C. Stephen Allred signed agreements with BP, ConocoPhillips, Marathon Oil Company, Shell, and Walter Oil and Gas Corporation, addressing deepwater Gulf of Mexico offshore oil and gas leases issued in 1998 and 1999. Under the agreements these companies will pay royalties on oil and gas produced under leases issued in 1998-1999. Revenue will be received for products starting from October 1, 2006 onward.


Swissco Enters Offshore Rig Charter Business

Swissco Group expanding upstream into the offshore rig chartering business with the acquisition of Scott and English Energy. Scott and English Energy is in the business of owning and leasing mobile offshore drilling units and service rigs to support major oil and gas corporations in their exploration and production (E&P) activities. Operational synergies expected with the acquisition, providing Swissco Group with a diversified earnings base with stable, recurring income


Centrica, Dong Form Wind-Farm Venture for Irish Sea Projects

Centrica Plc. and Dong Energy A/S said that they had formed a joint venture to develop offshore wind farms in the Round 3 Irish Sea Zone. Dong Energy will pay Centrica as much as 40 million pounds in cash for a 50 percent interest in the venture, according to a regulatory statement today. (Bloomberg)  


Offshore Oil-Production Royalties to Rise Under New Budget

According to a Feb. 14 report from Bloomberg, Royalties paid to the U.S. by oil and gas companies for offshore production are forecast to increase 68 percent under President Barack Obama’s 2012 budget. Receipts will reach $5.97 billion in the year that starts Oct. 1, from $3.56 billion in 2010. Obama also is proposing $25 million in fees from energy companies that hold nonproducing oil and gas leases, part of the administration’s effort to provide taxpayers with higher revenue from


Strategic Marine Sells Two Crewboats

Two more aluminum crew boats being constructed “on spec” by Australian shipbuilder Strategic Marine have been sold, indicating the company’s calculated decision to meet rising demand for offshore vessels in international shipping markets is paying dividends. The new order from Malaysian offshore servicing company Dinastia Jati Sdn Bhd, is for two 40m utility vessels which will be built at Strategic Marine’s yard.


Pelosi: Case Needed for Offshore Drilling

House Speaker Nancy Pelosi said that expanded oil drilling in federal waters could be included in a broader energy bill if advocates can prove its effectiveness as a solution to 's energy problems. In a television interview yesterday, Pelosi said the oil industry and its allies in Congress also would have to agree to pay royalties on oil profits to fund the development of renewable energy resources. The California Democrat


Tax Moves Hurt UK Seafarers

Accountant Moore Stephens says changes to National Insurance rules for UK companies employing British seafarers announced last week may threaten British jobs. Shipping tax partner, Philip Parr, says, "From October 6, 2003, shipping companies using British resident seafarers and which operate mainly in UK waters face a payroll cost increase of 13 per cent, and increased costs of administration." On April 23, 2003 the Paymaster General announced that with effect from


Rederij Groen Takes Delivery of 7-Waves

Photos courtesy of Damen Shipyards

Rederij Groen’s entire SRSV fleet built by Damen Maaskant Shipyards Stellendam. Dutch offshore services company Rederij Groen has taken delivery of the 7-Waves, the second of a total three identical Seismic Research Support Vessels. Once the third of these so-called offshore chasers will


Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers, although the industry is warning of a short-term sales dip.  


Tuco Debuts New Wind Farm Service Boat

Image courtesy of Tuco Marine

Less than a week before the Offshore Energy 2014 Exhibition and Conference in Amsterdam the coming week, Tuco Marine disclosed the newest vessel in the ProZero series of Fast Rescue Boats, Daughter Crafts and Workboats; The New ProZero 11m Wind Farm Service Boat.


Wärtsilä Expects 5% Sales Growth

Wärtsilä announced its third quarter results, reporting that it sees good development in order intake and profitability. According to Wärtsilä, third quarter highlights include Order intake increased 21% to €1,309 million (1,086)


MacGregor Reorganizes into 7 Operative Divisions

MacGregor, part of Cargotec, announces changes in its operative structure and starts a reorganization into seven operative divisions which will become effective on January 1, 2015. The six new operative divisions together with Global Lifecycle Support as the seventh one will enable MacGregor to


Ocean Installer Enters Australian O&G Market

Normand Vision & Normand Mermaid.

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy


Chief of Naval Personnel Visits Naval Special Warfare

Chief of Naval Personnel speaks with Naval Special Warfare service members on Joint Expeditionary Base Little Creek-Fort Story during an all-hands call to discuss topics

Chief of Naval Personnel (CNP) Vice Adm. Bill Moran visited Naval Special Warfare (NSW) Sailors during an all hands call on Joint Expeditionary Base Little Creek-Fort Story, Oct. 21. Moran discussed a variety of topics, including enlisted retention boards, retirement, and compensation.


Coast Guard Foundation to Honor USCG in Miami

Admiral Thad Allen, 23rd Commandant, U.S. Coast Guard (Ret.)

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that its annual Tribute to the United States Coast Guard Seventh District will take place on November 13 at the Marriott Biscayne Bay in Miami


Ocean Rig, Petrobras Agree to $1.1b Drill Ships Lease

Cyprus-based Ocean Rig UDW Inc said on Monday that it signed a $1.1 billion three-year contract with Brazil's state-run oil company, Petroleo Brasileiro SA, to extend a lease on two ultra-deepwater drilling ships. Petrobras, as the Brazilian oil company is known, will get the ships


Autonomous Technology for Offshore Wind Farm

ASV Ltds C-Worker

  ASV Ltd in association with Planet Ocean Ltd, have received funding from the GROW:OffshoreWind initiative to investigate how the use of Autonomous Surface Vehicles (ASVs) could reduce the costs of offshore wind farm support. The project will look at using ASVs to reduce the cost of


GeoSea acquires HOCHTIEF Offshore Assets

HOCHTIEF is selling offshore assets to marine contractor and long-term partner GeoSea

DEME’s marine engineering specialist GeoSea acquires offshore assets of HOCHTIEF, one of Germany’s leading international construction groups. HOCHTIEF is selling offshore assets to marine contractor and long-term partner GeoSea


US, ATP-IP Reach Settlement over Unauthorized Oil Discharges

Offshore Oil Platform Owner to Improve Safety and Operations in Gulf of Mexico Following Unauthorized Oil Discharges; EPA and Bureau of Safety and Environmental Enforcement secure settlement in first joint judicial enforcement action under Clean Water Act and Outer Continental Shelf Lands Act


Donohoe Welcomes Ships’ Light Dues Arrangements

Minister for Transport, Tourism and Sport Paschal Donohoe T.D., announced today that he has agreed arrangements with his U.K. counterpart, Minister John Hayes MP, for light dues paid by ships coming into ports in Ireland and the United Kingdom from April 2015


Final Payment on Fortis Debentures

  Fortis Inc. announced that holders of its 4% convertible unsecured subordinated debentures represented by instalment receipts  that the final instalment payment of $667 per $1,000 principal amount of Debentures is due by October 27, 2014


Floating Storage at Sea Stalls Despite Falling Oil Prices

Falling oil prices still to attract large scale storage at sea Oil tanker rates gaining ground after years in doldrums Despite falling oil prices, traders in recent weeks have booked just a few tankers to store cargoes at sea as higher freight costs outweigh any profit play for now






 
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