Ocean Rig in the Red Q3 2013 But Increase Drilling Revenues

MarineLink.com
Monday, November 04, 2013

International contractor of offshore deepwater drilling services, Ocean Rig, announce its unaudited financial and operating results for the third quarter ended September 30, 2013, reporting a net loss of $21.5 million, or $0.16 basic and diluted loss per share. However, Revenues from drilling contracts increased by $42.8 million to $328.5 million for the three-month period ended September 30, 2013, as compared to $285.7 million for the same period in 2012.

Recent highlights reported by Ocean Rig

  • Achieved 98.4% average fleet wide operating performance for the third quarter of 2013.
  • On November 4, 2013, the Ocean Rig Mylos commenced drilling operations under the three year contract with Repsol Sinopec Brazil S.A.
  • The deliveries of the newbuildings Ocean Rig Skyros and Ocean Rig Athena are rescheduled for January 2014 and February 2014 respectively, due to the late delivery of third party and sub- supplier equipment.
  • On October 29, 2013, we agreed with a major oil company to extend for 60 days the expiration of the previously announced Letter of Award for our ultra deepwater drillship Ocean Rig Skyros.

George Economou, Chairman and Chief Executive Officer of the Company commented:
“We are very pleased with the 98.4% average operating efficiency of our fleet in the third quarter. Although unscheduled rig downtime is an unavoidable industry fact, our consistent efforts over the past year and our ongoing focus on operational excellence have resulted in three consecutive quarters of strong performance. We remain dedicated to our plan of becoming the preferred drilling contractor for our clients.
 


People & Company News

MN100: All American Marine, Inc.

The Company: All American Marine Inc. was founded in 1987 and specializes in the construction of custom tailored aluminum boats from 30 to 150 feet LOA. Today,

Five Minutes with Paul Switzer

Five minutes with Paul Switzer - Manager, Shipbuilding & Offshore, Viega   For readers not familiar with Viega, please give a ‘birds eye’ view, putting the company

MN100: Reintjes GmbH

The Company: Founded in 1979, Reintjes GmbH is an independent propulsion technology company that manufactures thousands of gearboxes annually. More than 90,000

Offshore

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Cathelco MGPS for Latest Lamprell-built Jack-up

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication,

Finance

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

European Owners Lead in Buying Up Secondhand Tonnage

With European owners leading the pack in buying up vessels, the sale and purchase market appears to have been notably active in recent years, reveals Clarkson Research Services Limited.

Monjasa Bags Credit Facility from Société Générale

Danish bunker fuel supplier and shipping firm Monjasa has signed a credit facility with French bank Société Générale for USD 80 million.    A statement from

Offshore Energy

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

MISC Enters Thai Offshore O&G Market

Energy related maritime solutions and services provider MISC Berhad (MISC) has made inroads into Thailand’s offshore oil and gas market for the first time.

Cathelco MGPS for Latest Lamprell-built Jack-up

Cathelco will provide a marine growth prevention system (MGPS) for the latest in a series of jack-up drilling rigs to be built by Lamprell, the UAE based  leading provider of fabrication,

Underwater Engineering

Fugro, US Army Corps of Engineers Ink Mapping Deal

Fugro has been awarded a photogrammetric and LIDAR surveying and mapping contract by the U.S. Army Corps of Engineers, St. Louis District, Missouri. The agreement

Next Geosolutions Surveys Roman Ports

Next Geosolutions, an independent geoscience and engineering service provider, has secured a €1.25million (£1million) mapping and survey contract with Naples Port

First ISDS for DNV GL Classed Ocean Greatwhite

DNV GL has welcomed the world’s largest semi-submersible drilling rig into class recently. Ocean Greatwhite is 123 metres long and 78 metres wide and was delivered

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.1267 sec (8 req/sec)