Transocean Sedco Forex Inc. Reports First Quarter 2000 Results

Tuesday, April 25, 2000
Transocean Sedco Forex Inc announced that net income for the three months ended March 31, 2000 was $32.5 million on revenues of $300.8 million. The results include a cash settlement of $25.1 million, relating to the previously reported agreement with BP Amoco to cancel the remaining 14 months of firm contract time on the semisubmersible Transocean Amirante.

Net income for the corresponding three months in 1999 was $11.3 million on revenues of $189.2 million. Operating and maintenance expense for the first quarter of 1999 included charges for severance costs and provisions for potential legal claims totaling $42 million.

The December 1999 merger of Transocean Offshore Inc. and Sedco Forex Holdings Limited (Sedco Forex) was accounted for as a purchase, with Sedco Forex as the acquirer for accounting purposes. Therefore, the results for the three months ended March 31, 1999 reflect Sedco Forex historic results only and exclude the historic results of Transocean Offshore Inc.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Hamburg Süd to Acquire CCNI Liner Service

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile, and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg,

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

Offshore

Study: An Arctic Oil Well Blowout Could Spread More Than 1,000km

Oil from a spill or oil well blowout in the Arctic waters of Canada's Beaufort Sea could easily become trapped in sea ice and potentially spread more than 1,000 kilometres to the west coast of Alaska,

Westermeerwind Wind Farm Construction Begins

Mammoet announced today that Westermeerwind BV has reached financial close on July 25 for the turnkey construction of the Westermeerwind wind farm in Ijsselmeer,

Gas Prices Help Offset Statoil's Output Drop

Statoil's second quarter 2014 net operating income was NOK 32 billion, a decrease of NOK 2.3 billion compared to the second quarter of 2013. Adjusted earnings were NOK 32.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators 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: 0.1104 sec (9 req/sec)