Applied Drilling Technology Inc News

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that the Board of Directors has named J. Michael Talbert as non-executive Vice Chairman of the Board, Arnaud A.Y. Bobillier as Executive Vice President, Asset and Performance, and Ihab Toma as Executive Vice President, Global Business, effective immediately. As non-executive Vice Chairman, Talbert is expected to succeed Robert E. Rose as Chairman of the Board of Directors when Rose retires at the end of his current director term at the company's 2011 Annual General Meeting of Shareholders. Bobillier will be responsible for the company's Engineering and Technical Support; Asset Management, Performance, Global Supply Chain and IT functions.

Atwood Oceanics, Inc., (NYSE: ATW) a Houston-based International Drilling Contractor, announced that the Richmond has been awarded a contract by Helis Oil & Gas Company LLC being turnkey drilled by Applied Drilling Technology Inc. for one well in the U.S. Gulf of Mexico, at a dayrate of $33,500. The drilling of this well is estimated to take 60 to 80 days to complete. Additional contract opportunities following the completion of the drilling of this one-well commitment in early to mid February 2010 are currently being pursued.

Transocean Ltd. (NYSE:RIG) announced that Ihab Toma has been named Senior Vice President of Marketing and Planning, reporting to Robert L. Long, Chief Executive Officer, effective mid-August 2009. Based in Geneva, Toma will be responsible for marketing and planning for the company's fleet of 133 mobile offshore drilling units worldwide. He will also oversee Transocean Solutions, which offers clients a complete package for well construction and field development needs, and two company subsidiaries, Applied Drilling Technology Inc. (ADTI), and Challenger Minerals Inc. (CMI).

Atwood Oceanics, Inc., (NYSE:ATW) a Houston-based international drilling contractor, announced that the Richmond has been awarded a contract by Applied Drilling Technology, Inc. to drill one well in the U.S. Gulf of Mexico at a dayrate of $52,500. This well (estimated to take 40 days to complete) will be drilled immediately following the completion of the rig's current contract which is expected to terminate in late April 2009 or early May 2009. (www.atwd.com)

Global Marine Inc. reported net income for the quarter ended September 30, 2001 was $62.1 million, or $0.34 per diluted share, on revenues of $314 million. For the corresponding 2000 quarter, the company reported net income of $32.3 million, or $0.18 per diluted share, on revenues of $272 million. $1.03 per diluted share, on revenues of $965 million. million, or $0.12 per diluted share, on the second quarter 2001 sale of a special-purpose rig. This compares to net income of $73.0 million, or $0.41 per diluted share, on revenues of $707 million for the nine months ended September 30, 2000. Bob Rose, Global Marine Chairman, President and CEO, said, "Global Marine's financial and operating performance was strong.

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.

Hyperdynamics has contracted with Applied Drilling Technology, Inc. (ADTI), a wholly owned subsidiary of GlobalSantaFe, to provide a detailed assessment of drilling infrastructure, support services and operating environment offshore the Republic of Guinea, West Africa. The ADTI study will be used in conjunction with a well design to produce an estimated project cost and a comprehensive drilling management services proposal to support a planned exploration program by Hyperdynamics under its previously announced agreement with the Republic of Guinea. Hyperdynamics signed a new agreement last month with the Republic of Guinea to explore its offshore area which is one of the world's largest under-explored regions.

Three years ago Marine Drilling Companies weathered a challenging year, posting its first operating lost in four years. Today the company has conquered those challenges, positioning Marine to make the most of a world of opportunities in fiscal 2000. Marine Drilling Companies, Inc. is engaged in offshore contract drilling of oil and gas wells for independent and major oil and gas companies. Operations are conducted in the U.S. Gulf of Mexico and internationally. The company owns and operates a fleet of 17 offshore drilling rigs consisting of five independent leg jack-up units, four of which have a cantilever feature, 10 mat supported jack-up units, five of which have a cantilever feature, and two semi-submersible units.

GlobalSantaFe Corporation announced that its board of directors has elected Jon A. Marshall as president and chief executive officer of the company. In addition, Mr. Marshall was elected a director at the company's annual meeting of shareholders. Mr. Marshall, who previously held the title of chief operating officer, succeeds C. Stedman "Sted" Garber, Jr., who, earlier this year, announced his intention to retire from his position as president, chief executive officer and a director. Marshall joined the company in 1979 and has held numerous operational and management roles over his 24-year career. In 1992, he became president of Applied Drilling Technology Inc. (ADTI), the company's turnkey drilling service subsidiary and Challenger Minerals Inc.