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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


Mobile Offshore Drilling Units – New Market Forecast

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


Lithuania Looks to U.S. for Gas

Lithuanian liquefied natural gas (LNG) importer Litgas has signed a preliminary agreement with a U.S. supplier, looking to lessen the Baltic nation's dependence on Russia. Litgas said on Friday it had signed a memorandum of understanding (MOU) with Delfin LNG


ClassNK Updates Guidelines for Floating Offshore Facilities

Photo: Excelerate Energy

ClassNK released a new version of its Guidelines for Floating Offshore Facilities for LNG/LPG Production, Storage, Offloading and Regasification.   Available on the ClassNK website, this second edition is an update to the initial guidelines released in February 2011 which aims to provide


HHI to Add Massive Heavy Lift Vessel

Hyundai-10000 Heavy Lift Vessel (Photo: HHI)

Hyundai Heavy Industries to add 10,000 ton heavy lift vessel to its offshore facility-building infrastructure legion   Shipbuilder and offshore facilities contractor Hyundai Heavy Industries Co., Ltd. (HHI) informs that its shipbuilding affiliate, Hyundai Samho Heavy Industries


Hercules Offshore Shares Fall 33%

  Drilling contractor Hercules Offshore Inc's shares fell as much as 33 percent to a record low on Friday, a day after Deutsche Bank cut its price target on the company's stock to $0.   State-owned oil company Saudi Aramco terminated its contract for one of Hercules Offshore rigs on


Maersk, BP Agree to 5 Year Offshore Rig Training Contract

The view into the dome simulator (Photo courtesy of Maersk Training)

Maersk has signed a five year contract with BP to provide offshore oil rig training at the virtual reality training center the company is currently building in Houston, the companies announced today. Maersk Training will provide BP with advanced training programs for offshore drilling teams at


Songa Offshore Sees Tough Year but Narrows Losses

Q4 operating loss $6.8 mln, against expected $7.3 mln loss. Norwegian rig company Songa Offshore expects a challenging 2015 amid fierce competition for fewer contracts despite reporting a slightly better than expected fourth-quarter operating loss on Friday.


Seacat Services launches Second 26m Catamaran

second 26m Catamaran

  Class-leading offshore energy crew transfer vessel operator Seacat Services today launches Seacat Courageous, the firm’s second 26-metre crew transfer vessel, as it continues to support the growth of the European offshore wind market.


ISS Offers Advice on Philippines' Passenger Charge

ISS GMT offers guidance to marine and offshore workers on Philippines’ International Passenger Service Charge    ISS GMT Manila has issued clarification in respect of a change to the procedure for the collection of the International Passenger Service Charge which was introduced


Ulstein Delivers PSV Blue Queen

Blue Queen (Photo: Ulstein)

Platform supply vessel (PSV) Blue Queen, of Ulstein’s PX121 design, was delivered to Blue Ship Invest from Ulstein Verft on February 24, 2015. This vessel is the first of two for which Norway-based Golden Energy offshore is awarded the ship management contract.


Transocean Shares Poised for Big Move

Photo: Transocean

Transocean Ltd shares are expected to move about 8 percent in either direction following its earnings results on Wednesday, options data showed, but positioning among traders suggests some worry.   This would be the biggest post-earnings move for the shares in at least eight quarters.


USCG Leaders Testify on Budget Requests

USCG Commandant, Master Chief Petty Officer of the Coast Guard testify before the House Subcommittee on Coast Guard and Maritime Transportation   U.S. Coast Guard Commandant Adm. Paul Zukunft and Master Chief Petty Officer of the Coast Guard Steven Cantrell testified Wednesday on the Coast


Van Oord, Falck Ink Safety Training Deal

From left to right: Tjerk Suurenbroek, Commercial Director Falck Safety Services; and John Knoesten, Director Personnel & Organization Van Oord (Photo courtesy of Falck Safety Services)

Van Oord has signed a two year contract with Falck Safety Services for the provision of safety training.   Van Oord, a contractor for dredging, marine engineering and offshore energy projects, including oil, gas and wind, said it has invested in a trainee program for its employees for many


Drying Cabinets Handy On Board Nexus

Nexus (Photo courtesy of Damen)

In 2014, Pronomar equipped Van Oord’s offshore cable laying vessel Nexus with three drying cabinets, each responsible for the drying of eight sets of workwear.   Nexus, a 126-meter Damen Offshore Carrier (DOC) 8500 cable laying vessel was delivered to Van Oord in December and is


Offshore Safety Training from Seagull

Image: Seagull Maritime

 Saegull Maritime has announced the launch of two new computer-based training (CBT) modules, focusing on deck safety for specific types of offshore vessels that will be as useful for seasoned crew as well as newcomers.   The video training program covers deck safety for supply vessels


Dryships in the Red

DryShips Inc

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and operating results for the fourth quarter ended December 31, 2014. Fourth Quarter 2014 Financial Highlights






 
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