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Offshore Reports

Diamond Offshore Reports 4Q Results

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 Reports Barge Incident

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


CSO Deep Blue Starts Work in the GOM

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


W&T Offshore Reports 2Q Results

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 Reports Third Quarter Earnings

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.


CSO Deep Blue Starts Work in the GOM

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


FEATURE: Staking a Claim in GOM and Beyond

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


Stolt Offshore Completes Platform Salvage

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: A $16B Business

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


European Offshore Wind Faces Make-or-break 2020 -Report

Wind power companies such as Vestas, Siemens and Dong need Europe's installed offshore capacity to more than double and costs to be cut by a fifth within five years to compete with other fuels, an industry report said on Tuesday.   The Ernst & Young report described 2020 as a make-or-break year for the offshore wind power industry, which must install more than 20 gigawatts (GW) of capacity generating electricty for about 100 euros ($107) per megawatt-hour (MWh), against 140 euros now


HMC Helps Fine-tune Damen Offshore Carrier

Damen Offshore Carrier (Image: HMC)

Damen Shipyards has presented a new shipping concept to the market: the Damen Offshore Carrier (DOC) is specifically designed as a smaller heavy transport vessel suitable for offshore installations.   In cooperation with Damen, independent engineering and consultancy organization HMC


SoCal Beach Cleanup Could Take Months

The U.S. Coast Guard captain overseeing cleanup of oil spilled from a pipeline rupture that closed two California state beaches and fouled offshore waters near Santa Barbara said on Thursday it may take months to restore the area to its natural condition.


US Oil Platform on Fire in Gulf Of Mexico

An oil platform caught fire and was evacuated in the U.S. Gulf of Mexico offshore Louisiana in the early hours of Friday, though no injuries were reported, the U.S. Coast Guard said.   Fire-fighting crews worked to contain the fire on Friday near Breton Island


Mobil Says Oil Discovery off Guyana is 'Significant'

Photo by ExxonMobil

 Unlike almost all its neighbors, Guyana isn’t an oil producer yet. But the energy giant Exxon Mobil recently announced it had discovered “significant” oil off the coast.     The discovery could put Guyana on oil and gas Map and the country could become a player


Vard in Red

Siem Stingray. Photo: Vard Holdings

 Offshore shipbuilder Vard Holdings reported a net loss of $40mln in the first quarter, on back of unrealized foreign exchange losses from a 15-year USD-denominated yard construction loan in Brazil.   Net foreign exchange losses in the quarter amounted to $37mln


ULSTEIN Reports ‘Good Results’ for 2014

Ulstein Verft (Photo: ULSTEIN)

Ulstein Group said it achieved a “good result” for 2014, with an operating turnover of NOK 2.7 billion compared to 2013’s NOK 2.3 billion.   Meanwhile, the group’s operating profit of NOK 184.1 million comes in under the NOK 317


Offshore Oil & Gas: Floating Production Market a Bright Spot

Safe stroll: crew aboard the Maersk Peregrino FPSO off Brazil (and above) Photo: Oeyvind Hagen Statoil

Despite industry gloom about the offshore market, orders for production floaters continue to flow.  Over the past few weeks a speculatively-ordered FLNG found use off Africa, negotiations began to convert a third LNG carrier to an FLNG, an FSRU was ordered and a modified LNG tanker has been


RINA: Energy, Marine Propel Growth

International testing, inspection, certification and consulting engineering group RINA reports it has grown strongly during 2014, propelled by an upturn in marine, acquisition in the energy sector and international diversification. Turnover for 2014 grew 13 percent to Euro 333 million


Drydocks World Wins Turret Fabrication Contract

Photo: Drydocks World

Drydocks World has secured a contract from Orwell Offshore to fabricate an external Turret for FPSO Layang.   Drydocks World said its team will play an integral role in facilitating project completion during this fast track project expected to be delivered in the first quarter of 2016.


Tanker Attacked in Gulf Collided with Iran Oil Platform in March

A Singapore-flagged oil products tanker fired at by Iranian craft on Thursday had previously collided with an Iranian oil drilling platform in March and efforts have since been made to resolve the issue, the owner said on Friday.   The Alpine Eternity was attacked by a number of small craft


Ampelmann Gangway for New Wind Farm Support Vessel

Acta Orion (Image courtesy of Ampelmann)

Ampelmann, developer of motion compensated access solutions, has reported a contract with Acta Marine for its newbuild wind farm support vessel, the Acta Orion.   Ampelmann’s motion compensated gangway will provide Acta Orion with a stable platform in sea states of up to 2


NAO Head: PSVs Ready for Mediterranean Rescue

Photo: Nordic American Offshore

Nordic American Offshore Ltd. executive chairman Herbjorn Hansson weighs in on Mediterranean Sea migrant crisis, stating his company’s PSVs are capable and ready to perform rescue operations, if contracted.   We are all too familiar with the tragedy that is unfolding in the


Singapore Demands Investigation into Shooting Incident

Alpine Eternity Photo: South Maritime Pte Ltd

 Singapore Maritime and Port Authority (MPA) has condemned Iranian forces for firing warning shots in the Gulf at a Singapore-flagged Alpine Eternity which it said was in international waters, calling it a “serious violation of international law”.  


Block Island Wind Crew Transfer Contract Awarded

Photo courtesy of Seacat Services

Agreement enables high-speed catamaran ferry company Rhode Island Fast Ferry to commission first US-built crew transfer vessel, to be built by Blount Boats, and launch Atlantic Wind Transfers, its commercial wind support services division.  


STX Bags Order for Eight LR1 Tankers

LR1 tanker. Image by STX Offshore & Shipbuilding

 South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million.    The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships






 
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