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Jack Ryan News

24 Sep 2017

Transocean Retires Six Floaters

Transocean announced its intent to retire the ultra-deepwater floaters GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express, and Deepwater Pathfinder, and the deepwater floater Transocean Marianas. The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner. All six rigs were previously cold stacked. The company will recognize an impairment charge of approximately $1.4 billion during the third quarter of 2017 associated with these actions. “We continue to enhance the quality of our fleet through the addition of new, high-specification assets, and the retirement of older, less competitive rigs,” said Jeremy Thigpen, President and Chief Executive Officer.

18 Mar 2015

Transocean Issues Monthly Fleet Update Summary

Transocean Ltd today issued a monthly Fleet Update Summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the February 17, 2015 Fleet Update Summary. The total value of new contracts since the last report is approximately $9 million. •             Sedco Express - Awarded a one-well contract extension offshore Nigeria at a dayrate of $300,000 ($9 million estimated backlog). •             Henry Goodrich is idle. •             Ultra-deepwater floaters Discoverer Spirit, GSF Jack Ryan, Deepwater Discovery, and Deepwater Pathfinder are stacked. The rigs were previously idle. •             Estimated 2015 planned out-of-service time decreased by a net 102 days, mainly associated with the Henry Goodrich.

22 Sep 2014

Transocean: Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since August 21, 2014. According to the update, the total value of Transocean’s new contracts since the August 21, 2014 fleet update summary is approximately $115 million. Transocean Honor  was awarded a one year contract extension in Angola at a dayrate of $194,000 ($71 million estimated backlog). The rig's prior dayrate was $155,000. Jack Bates was awarded a one-well contract in an undisclosed location at a dayrate of $440,000 ($26 million estimated backlog). The rig's prior dayrate was $380,000. M.G. Hulme, Jr.

30 Oct 2008

Ultra-Deepwater Drillship Contract

The five-year drilling contract is expected to commence in the fourth quarter of 2010, following shipyard construction. The contract commencement date is contingent on vendor performance and other factors. Contracted revenues related to the five-year contract term are approximately $1.17b to $1.19b, depending on countries of operation during the contract term. Estimated contract revenues represent the maximum amount of revenues that may be earned, excluding revenues for cost escalations, customer reimbursed equipment and miscellaneous adjustments. Construction of the unnamed dynamically positioned, double-hull drillship is scheduled to take place at the Hyundai Heavy Industries shipyard in , with the first steel cutting scheduled in January 2009.

18 Apr 2001

GLM Poised for A Strong 2001

Global Marine (GLM) is a holding company that provides offshore contract drilling services on a dayrate basis and offshore drilling management services on a dayrate or fixed-price basis. The company has an active fleet of 31 mobile offshore drilling rigs and two ultra deep-water drillships under construction. The company also participates in offshore oil and gas exploration and development projects: operations conducted mainly in the U.S., the U.K., Nigeria, Canada and other countries abroad. Contract drilling accounted for 64 percent of 1999 revenues; drilling management services 35 percent and oil and gas, one percent. On January 18 the company reported net income for the year ended December 31, 2000, of $113.9 million on revenues of $1 billion.

19 Oct 2001

Northrop Grumman To Sponsor Naval Institute's Essay Contest

Northrop Grumman Corporation, a co-builder of the U.S. Navy's Arleigh Burke Aegis destroyers, has committed $175,000 over five years to sponsor the U.S. Naval Institute's Arleigh Burke Essay Contest. The announcement commemorates Adm. Burke's 100th birthday on October 19. The Naval Institute's most prestigious essay contest is open to all; for details, visit www.navalinstitute.org. The top three essayists receive $3,000, $2,000 and $1,000, accompanied by gold, silver and bronze medals, respectively. The top-prize winner also receives a life membership in the Naval Institute. The three winning essays will be published in the May 2002 issue of Proceedings. Essays must be postmarked on or before December 1, 2001.

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.

28 Jul 1999

Newpark Shipbuilding Receives Fabrication and Outfitting Contract

Global Marine Drilling Company has awarded a contract to Newpark Shipbuilding for the fabrication and outfitting of two electrical equipment houses for the drillship Glomar Jack Ryan. The buildings, which are being assembled at Newpark's West Pelican Island Facility, will then be barged to Houston for transport to Ireland where the vessel is currently undergoing construction.

24 Aug 2000

H&W Decision To Come Soon

Norwegian offshore group Fred Olsen Energy said it aimed to resolve next week the fate of its Northern Irish Harland shipyard, famed for building the ill-fated Titanic. It said in a statement that its board of directors had met on Thursday to address the "present difficult situation at Harland and Wolff" and that "alternatives were being considered with a view to agree on a way forward during next week". It said the yard's future was at risk due to a refusal by American rig owner, Global Marine, to pay a final delivery installment of $34.09 million on completion of the Glomar Jack Ryan deepwater drillship.

21 Sep 2000

H&W Announces Restructuring Plans, Cuts 600 Jobs

Following the positive award from the Arbitration Panel in relation to monies owed by Global Marine in respect of the delivery instalment for the Glomar Jack Ryan drillship, the board and management of Harland and Wolff have been considering how best to progress the restructuring of the group in such a manner as to afford the maximum opportunity to establish a profitable, viable and sustainable shipbuilding business at Harland and Wolff and also to further progress the development of Titanic Quarter. As a result, Harland and Wolff Holdings plc will proceed with a restructuring of operations which seeks to meet these objectives based on current workload. An immediate down-sizing to a core workforce of approximately 600 employees will occur, necessitating a redundancy of some 600 personnel.

06 Sep 2000

FirstWave/Newpark Shipbuilding Awarded Contract by GLM

FirstWave/Newpark Shipbuilding has been awarded a contract from Global Marine Drilling Company of Houston, Texas for final commissioning of drilling equipment and other miscellaneous completion work on the newbuild drillship Glomar Jack Ryan. The vessel left builder Harland & Wolff Shipyard in Belfast, Northern Ireland, on August 20 and is scheduled to arrive at FirstWave's East Pelican Island Facility in Galveston early September.

13 Sep 2007

GlobalSantaFe Orders New Ultra-Deepwater Drillship

GlobalSantaFe's new ultra-deepwater drillship, to be constructed in Ulsan, Korea, by Hyundai Heavy Industries for delivery in 2010. GlobalSantaFe Corporation has made an agreement with Hyundai Heavy Industries, Ltd. delivery in September 2010. total approximately $740m. suppliers and deliver the drillship to GlobalSantaFe for a fixed price. successful GSF C.R. service in 2000. depths up to 10,000 feet and is upgradeable to 12,000 ft. provides significantly more space than previous-generation drillships.

30 Jan 2007

BP Makes Makes New Discovery

Sociedade Nacional de Combustíveis de Angola (Sonangol) and BP Exploration (Angola) Limited announced the Terra oil discovery in ultra-deepwater Block 31, offshore Angola. Terra is the twelfth discovery that BP has drilled in Block 31. The well is located approximately 30 km NW of the recently announced Titania discovery. Terra was drilled by the Jack Ryan drill ship, in a water depth of 2,328 metres, some 411 kilometres northwest of Luanda and reached a total depth of 6,118m TVD below sea level. This is the third discovery in Block 31 where the exploration well has been drilled through salt to access the oil-bearing reservoir beneath. Well test results indicate anticipated flow capacity in excess of 5000 barrels a day under production conditions.

08 Aug 2001

Offshore Inland: Poised to Pounce on Offshore Upturn

Offshore Inland Marine & Oilfield Services of Mobile, Ala., is a wholly owned subsidiary of Offshore Inland Services that commenced operations on December 1, 2000. The fledgling operation timed its entrance into the market perfectly, and despite its short time of operation it is considerably long on references. Offshore Inland Marine & Oilfield Services - which is ISO 9000 compliant - primarily is involved in the following business operations: turn-key hydraulic system engineering; hydraulic/pneumatic tubing & piping; steel renewals & fabrications; inside & outside machinists; and providing class certified welders. The organization's expertise has been utilized on many of the world's most sophisticated offshore structures and vessels.

02 Nov 1999

Is It Back?

To say the Gulf of Mexico maritime business had a down year would be a major understatement. But rags-to-riches-to-rags experience of the past has resulted in a consolidated, resourceful group of companies poised to pounce on the next market upturn … which should be very soon. The business trends of consolidation and globalization that have largely defined the late 1990s have touched every level of business in the U.S., including the Gulf of Mexico maritime industry. Companies that had largely depended on "business as usual" are generally out of business today. The result: a resilient industrial base that is poised to prosper in good times and bad. "Business is bad right now, as the oilfield is our primary source of business," said Ralston P.

12 Nov 1999

No Relief Yet

Oilfield service companies were not nearly as lucky as their oil producing counterparts. While net income in the oil producing industry was up over the 1998 third-quarter, oilfield service companies were still feeling the pain of the low oil prices from earlier in the year. While the stock market - the global business measuring stick - has generally been positive on the offshore oilfield sector throughout much of the year, there has been a relapse of sorts in October, as uncertainty surrounding OPEC output quotas has largely dampened the year's progress. In fact, a major tracker of offshore industry stocks, Warburg Dillon Read, in mid-October cut its ratings of four oilfield equipment and services companies.

02 Mar 2000

Quarter and Year-End Earnings

Once again, quarter and year-end earnings reported in the offshore market reflected a familiar trend: oil majors saw gains - sometimes significant; while oilfield service companies continued to struggle, compared to the year-earlier marks. Unocal Corporation reported fourth quarter 1999 preliminary unaudited net earnings of $97 million and adjusted net earnings (excluding special items) of $77 million. The fourth quarter results compare with a reported loss of $29 million for the same period a year ago. Adjusted net earnings for the fourth quarter 1998 were $28 million. The fourth quarter earnings reflect higher oil and gas prices, offset partially by lower net oil and gas sales volumes and a higher international tax rate.