Deepwater drilling company Diamond Offshore announced fourth quarter and full-year earnings. Results were solid, with revenues and earnings showing big increases on both a quarterly and an annual basis. Compared to the fourth quarter of 2005, revenues rose 57 percent and earnings per share rose 106 percent. Full year figures demonstrated similarly gaudy growth, as revenues rose 68 percent and earnings per share were up an astronomical 168 percent. Source: The Motley Crew
Horizon Offshore said today that one of its vessels, the lay barge Lone Star Horizon, suffered moderate damage due to a fire while at anchor off Ciudad Del Carmen, Mexico. The vessel crew was evacuated and no injuries requiring medical treatment were reported. The Lone Star Horizon had recently completed the KIX pipeline project for PEMEX, and was preparing for demobilization to the U.S. Gulf of Mexico. The fire, which was limited to the generator control room, occurred at about 3:00 p.m
Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Alabama. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen
Oil and gas explorer W&T Offshore Inc. said its second-quarter profit rose 18 percent on higher revenues from its August 2006 acquisition of Kerr-McGee properties. Net income rose to $45.5 million, or 60 cents per share, from $38.5 million, or 58 cents per share, a year earlier. Revenue rose 64 percent to $272.6 million from $165.8 million. Analysts polled by Thomson Financial expected, on average, earnings of 46 cents per share on revenue of $263.8 million.
Horizon Offshore, Inc. reported net income for the quarter ended September 30, 2001, of $2.8 million. This compares with net income of $3.7 million, for the third quarter of 2000. For the third quarter of 2001, the company reported gross profit of $7.7 million, or 12.6 percent, on contract revenues of $61.0 million, compared with gross profit of $10.3 million, or 18.2 percent, on contract revenues of $56.3 million in 2000.
Coflexip Stena Offshore reported that its new deepwater pipelay and subsea construction vessel, the CSO Deep Blue, has commenced operations for the Williams Banjo/Seahawk project in the Gulf of Mexico after successful completion of her first mobilization at CSO's new spoolbase in Mobile, Ala. The vessel is to install the Boomvang and Nansen fields deepwater export pipelines. The CSO Deep Blue is to undertake the installation contract of the export pipelines from the Boomvang and Nansen fields
Todd Hornbeck, who has quickly yet judiciously built a sizeable marine company at Hornbeck Offshore Services, Inc. in just five years, shares with MarineNews the secrets of his success. by Greg Trauthwein Upon meeting with Todd Hornbeck, President and CEO of Hornbeck Offshore Services, Inc. at the literal epicenter of big oil dollars - the recent Offshore Technology Conference (OTC) in Houston - one is continuously struck with the contrasts of the man and mission
Hyundai Heavy Industries (HHI) is reportedly set to win up to $1.3 billion worth of orders for offshore projects by end-June, according to published reports. The roster of anticipated contracts includes a pending deal for an FPSO in West Africa, an order for a semi-submersible to be deployed in the Sakhalin project, and an order to set up a jack-up production platform in the Caspian Sea, Reuters reported. In 2001, Hyundai Heavy received in excess of $2 billion in offshore project orders
Stolt Offshore reported it has successfully completed the Eugene Island 275A platform salvage project for Total E&P USA, INC., in what is described as the first platform salvage using only mechanical cutting devices. The platform was located on OCS-G-0988, some 70 miles off the Louisiana coast in 180 ft. of water. "Because of environmental and safety objectives, Total E&P USA asked Stolt to conduct the salvage operation without an arc being struck under water
Offshore wind will see $16 billion of capital expenditure in the coming five year period as 4.5 GW of new capacity is installed, according to The World Offshore Wind Report 2008-2012, published by Douglas-Westwood. With just over 1.1 GW of capacity currently installed, this represents significant market growth and leads to an annual capital expenditure of over $5.2 billion by 2012. In comparison to the previous five year period
Petrobras CEO, Maria das Graças Silva Foster – named one of the world’s 100 most influential people by Time magazine in 2012 – will be a keynote speaker for the New Frontiers roundtable at Nor-Shipping’s Agenda Offshore conference on June 5.
Keppel FELS delivered a second KFELS B Class jackup rig to offshore Mexican oil field services company, Integradora de Servicios Petroleros Oro Negro. Named Laurus at Keppel FELS today, the rig was delivered eleven days early and with a perfect safety record, Keppel noted.
Cargotec's MacGregor received €22 million order to deliver a 900-ton active heave-compensated (AHC) MacGregor subsea crane to the South Korean shipyard, Hyundai Heavy Industries Co Ltd. The crane will be installed on a 150m multi-purpose offshore construction vessel (MOCV) ordered
Aberdeen-based standby vessel operator Atlantic Offshore Rescue said it has commissioned what will be the U.K.’s most powerful emergency response and rescue vessel (ERRV). The Ocean Troll – which recently completed a long term charter with Statoil – has undergone a £2
Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced has the award of a contract to supply key modularized components for a major refinery project in Venezuela. The project, known as the Venezuela Puerto La Cruz Refinery Deep Conversion Project
DNV has completely rewritten the standard for Offshore Service Modules certification, commonly referred to as DNV 2.7-2, which was first published in 1995. On June 11, 2013, DNV will roll this out to an industry seminar taking place at the Aberdeen Exhibition and Conference Center
Maritime exhibition offers platform for technical innovators attracted by offshore investments The offshore market remains buoyant, with exploration and production driving new fleet investment, design innovation in vessel efficiency and reduced environmental impact
Jaya Holdings Ltd. reported consolidated revenue of $24.8 million and net profit of $4.0 million for the financial quarter ending March 31, 2013. The group’s total revenue for the quarter under review was $24.8 million, 53% higher than the previous corresponding quarter
Dana Gas PJSC, the Middle East’s largest regional private sector natural gas company, announces financial results for the first quarter ended 31 March 2013. Financial highlights: • Net profit of AED 241 million, up 17% year-on-year
US Firm, Tidewater, agrees with HitecVision to purchase Norway's Troms offshore, including 5 large PSV's. Tidewater say that the acquisition of Troms Offshore, headquartered in Tromsø, Norway, will expand their global footprint into the Norwegian sector of the North Sea and supplement
US shipbuilder & repairer Conrad Industries, announces its first quarter 2013 results and backlog. For the quarter ended March 31, 2013, Conrad achieved net income of $5.9 million and earnings per diluted share of $0.99 compared to net income of $3
The landing has been cushioned by a shift in orders from mainstream-type merchant ships towards specialised offshore segment support vessels. According to the BIMCO analysis the shipyard industry seemed to head straight for the output-abyss just 15 months ago
DNV said its continued focus on safety and service quality and the ability to provide leading-edge technology advice and solutions contributed to its market and financial performance in 2012. The company reported that revenues increased by 27% compared to 2011
Energy advisors Douglas-Westwood will present at All Energy 2013, in Aberdeen, May 22, and Frank Wright, Renewable Energy Manager, will outline findings of the soon to be released Offshore Wind Market Forecast, giving a global overview of the industry through to 2022.
International classification society Bureau Veritas has issued its annual group global Activity Report and its separate Marine and Offshore Business Review. The Bureau Veritas 2012 Activity Report provides a global picture of the group's performance and key achievements in 2012 and highlights