Bristow Group News

Helicopter services firm Bristow Group said Friday it was embarking on a new 10-year relationship with the Dutch Coastguard, delivering helicopter SAR operations for people and communities across the country through its affiliate, Bristow Netherlands B.V."At 1 p.m. Central European Time on November 4, 2022, two new custom-designed SAR bases officially went on-line at Den Helder and Midden Zeeland Airports, where specialist Bristow teams with SAR-configured helicopters now stand ready to respond to emergency events and critical government taskings in all weather…

The first storm to hit oil-producing regions of the U.S. Gulf of Mexico this year sent workers fleeing offshore oil platforms and cut some production.A weather disturbance in the central Gulf of Mexico was expected to become a tropical storm on Friday. It was moving north at about 14 miles per hour (22 kmh) and could bring up to 12-inches of rain to the central U.S. Gulf Coast by Saturday, the National Weather Service said.Equinor ASA on Friday said it had removed staff and shut production at its Titan platform, which is about 65 miles (105 km) off the coast of Louisiana.

Offshore helicopter services provider Bristow Group filed for chapter 11 bankruptcy protection after reaching a deal with senior bondholders on a plan to slash its debt load.The struggling Houston-based helicopter operator for offshore oil and gas industry looks to cut debt after reaching deal with senior bondholders, as it attempts to restructure its crippling debt load.The Chapter 11 filing, dated 11 May, covers only six US- and two Cayman Islands-registered businesses, with overseas operations – including Bristow Helicopters in the UK – unaffected.The Texas-headquartered company said in a release that all its subsidiaries will continue to operate as normal while the financial restructuring is carried out.Bristow Group President and Chief Executive Officer, L.

A pickup in offshore drilling is swelling the orderbooks of the handful of helicopter operators that shuttle oil workers to and from remote rigs. Their stock prices, depressed after Big Oil's recent spending cuts, could also be readying for take-off. Bristow Group Inc plans to invest $1 billion this year to procure just some of the 300 new helicopters that Barclays estimates will be needed by the oil and gas industry over the next five years. "We will invest more in this one year than in the last two-and-a-half years combined," said Jonathan Baliff, the chief financial officer of Bristow who will take over as CEO on July 31. With a market value of $2.7 billion…

Bristow Group awarded a new Department for Transport contract to provide civilian Search & Rescue (SAR) services for all of the UK. The SAR services contract has a phased-in transition period beginning in April 2015 and continuing to July 2017 and a contract length of approximately ten years. Under the terms of this contract, Bristow Helicopters will provide 11 Sikorsky S-92 and 11 AgustaWestland AW189 helicopters that will be located at ten bases across the UK. Each SAR base will operate either two S-92s or two AW189s. In addition to the ten bases with 20 aircraft, there will be two fully SAR-equipped training aircraft that can be deployed to any base as needed.

According to a June 10 report from the Associated Press, Bristow Group, which provides helicopter service to the offshore oil industry, said revenue from deep water drilling operations in the Gulf of Mexico may slide as much as 85% by the end of June because of the six-month moratorium on deep water drilling in the Gulf. The company, which has large international operations, said that revenue from the Gulf generates about six percent of its operating income. Part of the loss of revenue is being offset by new work from oil company BP PLC, which is trying to contain a massive oil spill that prompted the moratorium. (Source: Associated Press)