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
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, 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
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
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 $5.2 billion by 2012. In comparison to the previous five year period
A research report estimates the value of the global mobile offshore drilling market to be US$ 48.1-billion in 2012 An excerpt from the report follows: Oil and gas production from offshore resources is of considerable importance for energy companies as existing base resources are being depleted at a rapid rate. New significant oil discoveries are becoming less common, with the majority of major finds being offshore
The company says it created history in marine and offshore operations when they lifted the 10,000-tonne topside of the first gravity base of the semi-submersible (and world’s largest offshore HVDC platform structure) 'DolWin Beta' to a height of 52.8 metres from the dock bottom.
As Congress considers extending critical federal incentives for wind energy this month, leaders from the Virginia Offshore Wind Development Authority, the City of Norfolk, and the Virginia Ship Repair Association joined Environment Virginia to detail the economic and environmental benefits of
The government is to make big changes to the way it subsidises renewable energy, with subsidies for windfarms set to rise at the expense of onshore options, reports BBC News. The BBC reports Government ministers as stating that they will cut support for onshore wind and solar energy
This past week in California, HGH Infrared Systems participated in the Offshore Platform Security Threat Awareness and Response (OPSTAR) program, developed and conducted by the Naval Postgraduate School’s Center for Asymmetric Warfare, and designed to explore the homeland security
Two AHTS (80 metric ton bollard pull with dynamic position capability) One 36 meter fast utility/crew boat with option for a second vessel Continues its fleet renewal and expansion program to capitalise on strong demand for offshore support vessels
Singapore's Terra Weather say that Offshore planners and asset managers will now be able to plan critical offshore activities with greater confidence and accuracy, by taking advantage of a first ever cloud-based weather planning tool that allows users to get real-time
Gibraltar ship repair facility Gibdock say that it has been operating close to full capacity throughout 2013, with offshore sector business the main driver. Edited comments by Richard Beards , Managing Director, Gibdock follow: "We have seen a number of high profile offshore
The Offshore Marine Service Association announced that Ben Billings has officially assumed the position of President and Chief Executive Officer. Billings comes to OMSA from Washington, D.C. where he has worked for the past nine years on maritime issues in the U.S
Global business risk consultancy Drum Cussac Ltd. delivered an antipiracy training program for the Malagasy Navy at the Naval Base in Diego Suarez, Madagascar. It is the first time that a private company has been permitted to partner with the Malagasy Navy.
MacGregor, part of Cargotec, is to deliver a package of three cranes to a new offshore accommodation & construction vessel being built at Chantier Davie Canada, with delivery scheduled for the end of Spring 2015. The vessel is the first in a series of dynamically positioned offshore
Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American
Shuttle tankship owners and operators KNOT Offshore Partners report net income of $6.4 million and operating income of $9.4 million for the third quarter of 2013, as compared to net income of $0.2 million and operating income of $9.1 million for the same period in the prior year.
In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter.
Bureau Veritas has awarded certification to Statoil for meeting the Safety and Environmental Management Systems (SEMS) protocols developed by the Center for Offshore Safety (COS), an enhanced set of requirements in the offshore oil and gas industry.
Edison Chouest Offshore and Island Offshore are ordering two new OCV vessels through the company Island Ventures II LLC. One vessel will be built at Ulstein Verft, Norway, and the other in the United States. Constructing at Ulstein Verft