Diamond Offshore Receives Ocean Baroness

Thursday, April 18, 2002
Diamond Offshore Drilling Inc. reported net income of $22.6 million, or $0.17 per share on a diluted basis, on revenues of $193.7 million for the first quarter of 2002, compared to net income of $36.8 million, or $0.27 per share on a diluted basis, on revenues of $205.2 million for the first quarter of 2001. Diamond Offshore also announced the delivery of the "Ocean Baroness," an ultra-deepwater upgraded semisubmersible, which began its short term contract with Murphy Sabah Oil Co. Ltd. offshore Malaysia in March 2002. Baroness has been upgraded for operations in excess of 7,000 ft. of water and is designed for development and extended reach drilling. The cost to complete the ultra-deepwater upgrade of the "Ocean Baroness" rig was approximately $170 million. The adaptability and structural soundness of the original Victory Class hull design contributed to the cost-effectiveness and timeliness of the upgrade. A second Victory Class rig, the "Ocean Rover," arrived in a Singapore shipyard in January 2002 to begin its upgrade to similar deepwater specifications. The upgrade is expected to be completed in the third quarter of 2003 at a cost of approximately $200 million. Diamond Offshore has a fleet of 45 offshore drilling rigs consists of 30 semisubmersibles, 14 jack-ups and one drillship. The fleet operates in the waters of six of the world's seven continents.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Japan, U.S. Look to Expand Naval Cooperation

Japanese Prime Minister Shinzo Abe's push to allow Tokyo to come to the aid of an ally under attack will pave the way for closer cooperation between U.S. and Japanese forces across Asia, a top U.

BP Terminates GoM Rig Contracts

BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.

MacGregor Appoints Høyesen as VP

MacGregor reorganized into seven operative divisions in the beginning of 2015 to improve customer focus.   Offshore Mooring and Loading Division drives the development

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2641 sec (4 req/sec)