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Globalsantafe Corporation News

08 Dec 2014

Energy Sector Volatility Affects Middle Market M&A Activity

Market volatility for the petroleum sector provides a backdrop to an evolving Merger & Acquisitions environment for the Offshore Sector. In the 3Q edition of Maritime Professional, this series of articles examined the overall evolution of maritime and offshore M&A activity since 2010, tracing the flow of deals in the post-financial crisis era. In this edition, we take a closer look at relevant U.S. offshore energy industry deal flow and market movements as they relate to oil prices over time, and highlight some recent middle market transactions.

20 Feb 2009

Transocean Reports 4Q & 2008 Results

Transocean Ltd. (NYSE:RIG) reported net income for the three months ended December 31, 2008 of $800m, or $2.50 per diluted share. Revenues for the fourth quarter 2008 totaled a record $3.3b. The results compare to net income of $1.05b, or $4.17 per diluted share, for the three months ended December 31, 2007. For the three months ended December 31, 2007, revenues were $2.1b. •    $17m of write-offs for uncollectible accounts receivable associated with the Sedco 712 rig contract after the operator announced it had been placed into administration (a form of bankruptcy protection under U.K. •    Partially offset by $21m of income related to the sales contract termination fee on the Transocean Nordic and income from the TODCO tax sharing agreement.

12 Dec 2008

Rowan - Ralls CEO, Lentz COB

Rowan Companies, Inc. (NYSE: RDC) announced that, effective January 1, 2009, its Board of Directors has named W. Matt Ralls as the company's new President, Chief Executive Officer and member of the Board of Directors, succeeding D.F. McNease, who announced his retirement in late October 2008. Mr. Ralls, 59, most recently served as Executive Vice President and Chief Operating Officer of GlobalSantaFe Corporation, an international contract drilling company, from June 2005 until the completion of the merger of GlobalSantaFe with Transocean, Inc. in November 2007. Prior to that time Mr. Ralls served as Senior Vice President and CFO of GlobalSantaFe. He joined Global Marine, Inc.

19 Aug 2003

GlobalSantaFe SCORE Down for July

GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for July 2003 was down 0.2% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980-1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested. In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets, a separate SCORE is calculated for certain types of rigs and certain regions to indicate the relative condition of rig markets.

20 Nov 2001

Global Marine and Santa Fe International Corporation Complete Merger Of Equals

Houston-based GlobalSantaFe Corporation announced that Global Marine Inc. and Santa Fe International Corporation completed their merger of equals. The ordinary shares of GlobalSantaFe will begin trading on the New York Stock Exchange on November 21, 2001, under the symbol "GSF". Global Marine and Santa Fe International shareholders approved the merger during separate shareholder meetings held earlier today. into 0.665 of an ordinary share of GlobalSantaFe. ordinary shares will trade as GlobalSantaFe ordinary shares. The combined company will have approximately 233 million shares outstanding. "This merger of two great companies creates the world's premier drilling contractor," GlobalSantaFe chairman, Robert E. "Bob" Rose, said.

05 Dec 2001

GlobalSantaFe Assists Crew From Offshore Rig in Mediterranean

Houston-based offshore drilling contractor GlobalSantaFe Corporation reported that an 84-person crew was evacuated from one of its offshore drilling rigs that encountered a severe storm in the Mediterranean Sea offshore Israel. The Italian Navy and U.S. evacuation efforts. The offshore drilling rig remains afloat approximately 50 miles offshore Israel. At the time of the storm, the rig, named Key Singapore, was in the process of moving to a new location offshore Egypt. storm caused two of the three tugboats moving the rig to lose their towline connections. Four tugboats are currently on location, with one still attached to the rig. At this time, GlobalSantaFe said that it does not know of any significant damage to the rig. Previous media coverage erroneously reported the rig had sunk.

28 Aug 2003

GlobalSantaFe to Present at CEO Energy/Power Conference

GlobalSantaFe Corporation Chief Executive Officer Jon Marshall will present at 8:40 a.m. CDT in New York on Thursday, September 4, 2003, at the Lehman Brothers Seventeenth Annual CEO Energy/Power Conference. Interested parties may listen to the presentation live over the Internet at http://www.lehman.com/conferences/200309ceo-energy-power/presenters.htm# . To listen to the live presentation, please go to the Web site at least 15 minutes early to register and to download and install any necessary audio software. A replay of the presentation will be available shortly after the conclusion of the presentation through GlobalSantaFe's Web site (http://www.gsfdrill.com/ ) until 5 p.m. CDT September 15, 2003.

04 Nov 2003

GlobalSantaFe to Present at Global Energy Conference

GlobalSantaFe Corporation Chief Executive Officer Jon Marshall will present at 8:25 a.m. EST in New York on Wednesday, November 5, 2003, at the Merrill Lynch 2003 Global Energy Conference.

18 Nov 2003

GlobalSantaFe Worldwide SCORE Slightly Down

October 2003 was down 0.2% from the previous month's SCORE. 1981 peak of the offshore drilling cycle. invested. relative condition of rig markets. calculations for the U.S. Southeast Asia.

16 Dec 2003

GlobalSantaFe Board Approves Quarterly Cash Dividend

GlobalSantaFe Corporation announced that its board of directors has approved a regular cash dividend of $0.05 per ordinary share. This dividend is payable on January 15, 2004, to shareholders of record as of the close of business on December 31, 2003.

16 Dec 2003

GlobalSantaFe Worldwide SCORE Continues to Show Decline in Semi Market

GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for November 2003 was down 3.5% from the previous month's SCORE. 1980-1981 peak of the offshore drilling cycle. dollars invested. relative condition of rig markets. calculations for the U.S. Southeast Asia.

08 Jan 2004

GlobalSantaFe to Hold 4Q Conference Call and Webcast

GlobalSantaFe Corporation has scheduled a conference call to discuss its fourth-quarter and year-end financial results at 11:00 a.m. CST (12:00 p.m. EST) Wednesday, January 28, 2004. The results are scheduled to be released publicly prior to market opening on the New York Stock Exchange that same day.

28 Apr 2004

GlobalSantaFe Announces First Quarter Results

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported net income for the first quarter ended March 31, 2004, of $8.7 million, or $0.04 per diluted share, on revenues of $380.0 million, as compared to net income of $45.9 million, or $0.20 per diluted share, on revenues of $424.4 million for the same quarter in 2003. Net income for the first quarter 2003 included $22.1 million, or $0.10 per diluted share, from the settlement of a claim filed in 1993 with the United Nations Compensation Commission. Revenues for the first quarter of 2004, and 2003, exclude $26.9 million and $28.6 million, respectively, related to revenues from land rig drilling operations, which are reflected as discontinued operations.

18 May 2004

Offshore SCORE Continues Decline

GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for April 2004 was down 4.5% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested. In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets, a separate SCORE is calculated for certain types of rigs and certain regions to indicate the relative condition of rig markets.

06 Dec 2001

GlobalSantaFe Board Approves Cash Dividend

Houston-based offshore drilling contractor GlobalSantaFe Corporation announced that its board of directors has approved a regular quarterly cash dividend of $0.0325 per ordinary share. The dividend is payable on January 15, 2002, to shareholders of record as of the close of business on December 31, 2001. In connection with a recent merger, former Global Marine Inc. shareholders were mailed a transmittal form for the surrender of their common stock in exchange for GlobalSantaFe ordinary shares. Those shareholders who have not surrendered their common stock certificates and transmittal form for exchange by the payment date, will receive their dividend from the exchange agent when the shares are exchanged.

19 Dec 2001

GlobalSantaFe Receives ISM Certification

Houston-based GlobalSantaFe Corporation announced it has become one of the first offshore drilling contractors to receive the full International Safety Management (ISM) certification for its shore-based facilities and self-propelled offshore rigs. flags. The American Bureau of Shipping (ABS) audited GlobalSantaFe for compliance to the code. Robert Kremek, president of ABS Americas, presented the company's first ISM Document of Compliance certificate to GlobalSantaFe executives in a ceremony held on December 18 in Houston. "We have always been absolutely committed to the safety of our people and the marine environments where we operate," Bob Rose, GlobalSantaFe chairman, said. "The ISM certification is further evidence of our commitment.

23 Jan 2002

GlobalSantaFe Reports 4Q and Full Year Results

Houston-based worldwide drilling contractor GlobalSantaFe Corporation reported net income for the quarter ended Dec. 31, 2001, of $11.7 million, or $0.07 per diluted share, on revenues of $384 million, as compared to net income of $40.9 million, or $0.34 per diluted share, on revenues of $332 million for the same quarter in 2000. For the year ended Dec. 31, 2001, the company reported net income of $198.8 million, or $1.50 per diluted share, on revenues of $1.3 billion. This compares to net income of $113.9 million, or $0.95 per diluted share, on revenues of $1.0 billion for the year ended Dec. 31, 2000. Net income for the fourth quarter…

17 Apr 2002

GlobalSantaFe Reports 1Q Results

GlobalSantaFe Corporation reported net income for the quarter ended March 31, 2002, of $77.1 million, or $0.33 per diluted share, on revenues of $464.0 million. This compares to net income of $40.7 million, or $0.34 per diluted share, on revenues of $274.8 million for the quarter ended March 31, 2001. The 2001 financial results reflect only historical Global Marine, prior to the merger that formed GlobaSantaFe, so some comparisons to these results may not be meaningful. Santa Fe International into an industry leader," GlobalSantaFe President and CEO Sted Garber said. recording operating income of $97.5 million. largely insulated from the comparatively weak U.S. Gulf of Mexico drilling market.

24 Jul 2002

GlobalSantaFe Reports Second Quarter Results

GlobalSantaFe Corporation reported net income for the quarter ended June 30, 2002, of $73.4 million, or $0.31 per diluted share, on revenues of $501.7 million. For the corresponding 2001 quarter, the company reported net income of $84.3 million, or $0.69 per diluted share. For the six months ended June 30, 2002, GlobalSantaFe reported net income of $150.5 million, or $0.63 per diluted share, on revenues of $990.4 million. This compares to net income of $125.0 million, or $1.03 per diluted share, for the six months ended June 30, 2001. Comparisons to the 2001 financial results may not be meaningful as they reflect only the performance of Global Marine prior to the November 2001 merger that formed GlobalSantaFe.

21 Sep 2004

GlobalSantaFe Worldwide SCORE Takes Downward Turn

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for August 2004 was down 1.9% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested. In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets…

20 Oct 2004

GlobalSantaFe Corporation to Hold Third-Quarter 2004 Earnings Conference Call

GlobalSantaFe Corporation has scheduled a conference call to discuss its third-quarter financial results at 10:00 a.m. CDT (11:00 a.m. EDT) Wednesday, October 27, 2004. The financial results are scheduled to be released publicly prior to market opening on the New York Stock Exchange that same day.

08 Dec 2004

Jurong Delivers Milestone Semi-Sub Rig

Jurong Shipyard, a subsidiary of SembCorp Marine achieves a significant milestone today when the newly constructed semi-submersible rig will be officially named .GlobalSantaFe Development Driller II. by Lady Sponsor, Mrs Yvette Sprague, wife of Mr Jonathan Sprague, the Atlantis Wells Delivery Manager of BP. The GlobalSantaFe Development Driller II is the second of two Friede and Goldman ExD-designed fifth-generation dynamic positioning ultra deepwater semi-submersible rig built by Jurong Shipyard for GlobalSantaFe Corporation (GSF), a leading worldwide oil and drilling contractor. The first unit, .GSF Development Driller I. was earlier named on October 12, 2004 by Mrs Christina Bruton in a christening ceremony held in the shipyard.

20 Jan 2005

GlobalSantaFe SCORE Improves

Worldwide oil and gas drilling contractor GlobalSantaFe Corporation reported that the company's worldwide SCORE, or Summary of Current Offshore Rig Economics, for December 2004 was up 3.6% from the previous month's SCORE. GlobalSantaFe's SCORE compares the profitability of current mobile offshore drilling rig dayrates to the profitability of dayrates at the 1980- 1981 peak of the offshore drilling cycle. In the 1980-1981 period, when SCORE averaged 100 percent, new contract dayrates equaled the sum of daily cash operating costs plus approximately $700 per day per million dollars invested. In addition to a worldwide SCORE covering key types of competitive offshore drilling rigs in key drilling markets…