W&O Supply has secured contractual agreements with Transocean Offshore, Inc. and Teekay Shipping, two recognized leaders in the offshore exploration and marine shipping industries. The general service agreements designate W&O Supply as primary provider of marine valves and related products for Teekay Shipping’s fleet and Transocean’s offshore drilling rigs. W&O Supply’s reputation for distributing quality marine products quickly and efficiently were major factors in the company being awarded both contracts. Valves, pipe and fittings are critical components of ships and offshore rigs and their failure can lead to costly interruptions in operations. W&O Supply will enable Transocean Offshore and Teekay Shipping to service their vessels and rigs as needed by minimizing downtime through the supply of these critical items.
Transocean Offshore Inc. announced one of its operating subsidiaries has been awarded a 30-month contract commitment by Petróleo Brasilerio S.A. (Petrobras), the state oil company of Brazil, for deepwater, dynamically positioned drillship Discoverer Seven Seas. The contract is expected to commence during August 1999, following the completion of the rig's current drilling assignment in the U.S. Gulf of Mexico and an estimated 40-day mobilization period to Brazil
Transocean Offshore Inc. posted earnings for the second quarter that just beat expectations as low oil prices early in the year caused continued depressed exploration and production spending worldwide. Transocean reported net income for the second quarter of $56.4 million on revenues of $235.6 million. For the corresponding three months in 1998, Transocean reported net income of $69.7 million. Transocean Chairman and CEO J
Transocean Offshore Inc.'s drillship Discoverer Enterprise has been accepted by BP Amoco and has begun work under a five-year contract with BP Amoco valued at more than $360 million. Dynamically positioned Discoverer Enterprise is the first of a new class of advanced, ultra-deepwater drillships employing the company's proprietary dual-activity drilling system. The vessel has completed equipment appraisal and testing in more than 6,100 ft. of water at BP Amoco's Neptune location in the U.S
Transocean Inc. announced that it has reached an agreement in its dispute with contract driller GlobalSantaFe over patent infringement of Transocean's offshore dual activity drilling technology. The agreement follows an amended final judgment entered last month by a federal district court against GlobalSantaFe. The judgment awarded damages to Transocean and permanently enjoined GlobalSantaFe from further infringement of the Transocean dual activity patents.
Keppel FELS Limited has secured a repeat order from Transocean Offshore Deepwater Holdings Ltd, a subsidiary of Transocean Ltd., valued at $195 million. Following its order of two jack-up rigs from Keppel FELS on February 17, Transocean is exercising its option to build another high-specification jack-up rig based on the KFELS Super B Class Bigfoot design for delivery in 3Q2013. This rig is designed with larger spud cans, expanding its operational coverage to more places
ING Barings has raised its ratings of the shares of several oil and gas companies. ING raised Burlington Resources to strong buy from hold, Transocean Offshore to strong buy from buy and Ocean Energy Inc. to buy from hold. On Transocean, analyst Stephen Gengaro wrote: "We believe the stock has lagged the group because of the relatively high level of contract rollovers over the next six months, which includes some of the company's high-specification semis currently working at high day rates
Discoverer Enterprise is known as the world's largest, most technologically advanced drillship designed for the reduction of ultra-deepwater well-construction costs with developments that elevate the process to a new level of operational efficiency. With more than 20 years of favorable deepwater experience behind them, Transocean's revolutionary drilling vessel has been engineered from the top of the derrick - to the thrusters - to optimize ultra-deepwater well-construction and field
Transocean Inc. (NYSE:RIG) announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet has been updated as of October 30, 2007. Drilling rig status and contract information on Transocean Inc.'s offshore drilling fleet has been condensed into a report titled "Transocean Fleet Update," which is available through the company's Worldwide Web address at www.deepwater.com.
Transocean Sedco Forex Inc., the world's biggest offshore driller, said one of its rigs was damaged by a gas blowout while drilling a well offshore Indonesia for Australia's Santos Ltd. Transocean said all 92 crewmen aboard the jack-up rig Trident IX were evacuated without injury to a service vessel. It said it expected insurance to cover the cost of the damage that appeared to be limited to the drill floor area. The incident which occurred on Thursday in the Madura Straits, offshore East Java
Kongsberg was awarded an offshore integrated monitoring and control system contract with Daewoo Shipbuilding & Marine Engineering (DSME). The contract covers deliveries to four Transocean owned newbuild drillships, with an option for Kongsberg to deliver products and services for six more
The Board of Directors of the company elected Ian C. Strachan to serve as Chairman of the Board effective May 18, 2013. Mr. Strachan replaces J. Michael Talbert who was not re-elected at the company's annual general meeting held on May 17, 2013.
New contracts, significant changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since April 18, 2013 are included. Highlights are as follows: Deepwater Millennium - Awarded a two-year contract for work offshore Australia at a dayrate of
Transocean Ltd. announced that J. Michael Talbert has advised the Board of Directors that, if reelected at the company's upcoming Annual General Meeting (AGM) on May 17, he will retire from the board no later than the company's 2014 AGM. To facilitate an orderly transition of leadership
Rolls-Royce's milestone 100th contract is to deliver drillship propulsion systems to a Transocean rig. In recent months Rolls-Royce has won orders to supply propulsion systems for seven new drillships totaling close to £100 million, including options
Transocean Ltd. commented on a report issued by proxy advisory service Institutional Shareholder Services (ISS) regarding the company's Annual General Meeting, which will be held on May 17, 2013. The company issued the following statement in response to the ISS recommendation:
Offshore U.S. Gulf energy operators have already paid a steep price; more pain could come. Drilling in the Gulf of Mexico is now close to levels seen before the April 2010 Macondo spill that took 11 lives and caused the nation’s worst offshore oil spill
A Marine Sanitation Device (MSD) by ACT2 Technologies, of Ft. Lauderdale Florida has been fitted to Transocean's 'Discoverer Enterprise'. The Discoverer Enterprise is leased to BP and owned by Transocean. ACT2 say that they are also working on additional units for Transocean in the 200
Tug Fairmount Sherpa has safely delivered rig GSF Arctic I in Las Palmas. The rig was towed from offshore Rio de Janeiro, Brazil, to Las Palmas de Gran Canaria, Spain. GSF Arctic I is a semi-submersible drilling rig for deepwater operations, owned by Houston based Transocean
Transocean Ltd. announced that certain Funds affiliated with Carl Icahn submitted to the company for vote at its 2013 Annual General Meeting of Shareholders (AGM) a dividend proposal of $4.00 per share. Additionally, the Funds provided a notice of nomination of three director candidates for
Transocean pleads guilty, sentenced to pay $400-million in penalties for criminal conduct leading to the disaster. Transocean Deepwater Inc. has pleaded guilty to a violation of the Clean Water Act (CWA) for its illegal conduct leading to the 2010 Deepwater Horizon disaster
The company's update includes new contracts, significant changes to contracts, & changes to estimated times out of service. Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors
Keppel FELS complete two rigs early for Transocean and Asia Offshore Drilling, earning a combined US$1.5-milliion bonus. Over two consecutive days Keppel FELS held naming ceremonies for twin jackup rigs built for Transocean, and another jackup rig built for Asia Offshore Drilling (AOD)
Transocean's current status & contract information for the company's entire fleet of offshore drilling rigs. The value of new contracts or extensions since the December 17, 2012 fleet update summary is approximately $235 million. Estimated 2012 out of service time decreased by a net 15
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the April 20, 2010, accident involving the Deepwater Horizon in the Gulf of