Rig Equipment News

Modern American Recycling Services, Inc. (M.A.R.S.) has acquired the DP3 diving support construction vessel “Caballo Marango” and will rename the vessel to 'Captain America.'"The acquisition of this vessel represents a substantial investment in the offshore market and will further increase the company’s footprint worldwide. This move highlights M.A.R.S. commitment to its customers, our future customers, and supports the continued growth of the offshore decommissioning and subsea installation industry," M.A.R.S. said Thursday.The vessel will be owned by M.A.R.S.

Nimble and quick, unmanned aerial vehicles have evolved into a valuable tool for marine and offshore applications.When a U.S. oil tanker conducts a Critical Area Inspection Plan (CAIP) as required by ABS, it is an onerous process. For example, each tank requires seven days of set up with scaffolding and staging. An ABS inspector and UDT technicians must access, and be carefully lowered into the tank with instrumentation and tools. Inspection points in far reaching places are surveyed.

Mermaid Maritime and China Merchants Industry Holdings (CMIH) have mutually agreed to cancel the construction contract  for the construction of tender assist drilling rigs to be named ‘MTR-3’ and ‘MTR-4’  respectively. All pre-paid installments and associated costs were already recorded as asset-impairments in Mermaid’s 2015 Financial Statements. No further payments are due to the Builder. The contract price for each of the Rigs (which is inclusive of rig equipment spares) was USD 149 Million). This is equivalent to USD 298 Million for both Rigs. The Owners had made a pre-paid installment of US$ 44 Million for both Rigs pursuant to the Construction Contracts.

Rolls-Royce has signed a contract to supply thrusters and deck machinery for two semi-submersible drilling rigs to be built at Samsung Heavy Industries in Korea for Stena Drilling. Rolls-Royce reported the value of the contract to be around £22.5 million. Rolls-Royce is a supplier of large thrusters and deck machinery to the offshore drilling market. So far the company has delivered 1,200 thrusters to close to 200 rigs and drillships, and mooring systems to 25 rigs. The rigs, two Moss CS60 harsh-environment semi-submersible drilling rigs…

Chevron Corp. and Transocean Ltd. are being sued for $22 billion in environmental damages in Brazil, double initial claims, after a federal prosecutor filed a second lawsuit over oil spills off the nation’s coast, according to Bloomberg. Chevron committed “a series of errors” which led to the March spill at Frade, the second incident at the offshore oil project, the federal prosecutors’ office said yesterday. Prosecutor Eduardo Santos de Oliveira is also seeking to halt operations at Frade and block San Ramon, California- based Chevron from transferring profits from Brazil. “The oil spill at the Frade field hasn’t been contained,” Oliveira said.

International oil services group Aker Solutions is about to open North America's most advanced drilling equipment simulator in Houston, Texas. The simulator will be available to rig operators with the objective of making offshore drilling operations safer and more cost effective. Aker Solutions is investing USD 2.5 million in the new state-of-the-art drilling equipment simulator, which will be available 24/7 for North American based rig operators and oil companies. It will double the capacity of the current training centre located in Katy near Houston.

Keppel FELS Limited (Keppel FELS) has secured contracts to build two high-specification KFELS B Class Bigfoot jackup rigs from returning customer Gulf Drilling International Ltd. (q.s.c.) (GDI) of Qatar, worth about US$393 million. These latest contracts follow closely after Keppel FELS was awarded a newbuild jackup rig contract by one of GDI's Shareholders, Japan Drilling Company, in March this year. Scheduled for delivery in the third quarters of 2013 and 2014, the two latest rigs mark GDI's first new orders in six years, and will increase the company's jackup fleet count to seven units.

The following statement was released from U.S. Chemical Safety Board Chairman Dr. On the one-year anniversary of the Deepwater Horizon oil rig accident I would like to take this opportunity to remember the 11 workers who were killed as a result of this catastrophic explosion and fire. We also wish to express our condolences to the families and coworkers whose lives will be forever impacted. The CSB’s investigation of this accident continues to examine a number of critical offshore oil and gas process safety issues. Currently CSB investigators are focusing on evaluating physical evidence, including participating in the first phase of the blowout preventer testing.

The results of the national poll of Americans who were asked about their view on the Obama Administration’s moratorium on deep-water drilling are very telling, with nearly three-fourths, or 73 percent, saying “a ban is unnecessary, calling the worst oil spill in U.S. history a 'freak accident,'” according to Bloomberg. The moratorium to halt drilling will cut the legs out from under a Gulf Coast economy that is already reeling from the initial spill. It will cause a ripple effect from the offshore workboat operators who supply oil rig equipment all the way down to the grocery stores who supply food for the mariners. The moratorium is short-sighted and will cripple an already hard-hit maritime industry operating in the Gulf Coast region.

The Department of the Interior issued a directive to oil and gas lessees and operators on the Outer Continental Shelf implementing stronger safety requirements that Secretary of the Interior Ken Salazar recommended in his 30-day safety report to the President. The Notice to Lessees focusing on safety measures (Safety NTL) issued applies to both deepwater and shallow water operations, although drilling operations in water deeper than 500 feet remain under a six-month moratorium. Shallow water drilling operations and production activity in both deep and shallow waters are not under a moratorium and will continue, provided they are in compliance with the new safety requirements.

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $25.7 million, or $0.64 per diluted share for the three months ended March 31, 2010, versus net income of $24.7 million, or $0.63 per diluted share for the first quarter of 2009. The first quarter 2010 results include an after-tax charge of $3.9 million, or $0.10 per diluted share, related to the settlement of pending assessments, dating back to 2007, regarding state tax on the importation of goods into the State of Rio de Janeiro, Brazil. Total revenues were $142.5 million during the quarter ended March 31, 2010 as compared to $127.5 million for the same period in 2009. The increase…

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $28.7 million, or $0.72 per diluted share for the three months ended December 31, 2009, versus net income of $25.0 million, or $0.64 per diluted share for the fourth quarter of 2008. Total revenues increased to $141.3 million for the quarter ended December 31, 2009 from $135.5 million for the same period in 2008. The increase in revenues resulted from increases of $15.6 million in subsea equipment revenues and $0.7 million in service revenues, offset by decreases of $8.2 million in revenues related to offshore rig equipment and $2.3 million in surface equipment revenues. Operating income was $36.6 million in the fourth quarter of 2009 compared to $33.4 million in the fourth quarter of 2008.

Dockwise Ltd. announced eleven near-and longer term contracts awarded to its subsidiary, Dockwise Shipping, for the transportation of jack-up drilling rigs, semi submersible rigs and port & marine infrastructure. Total revenues for the contracts are approx $63m, adding $33m to the backlog end of Q1 2009. Dockwise Shipping, in company with industry partners, is to transport the jack up drilling rigs COSL Craft, Shelf Explorer (forth and back), Seajacks Leviathan and Gorilla III to their new assignments in China, Sakhalin, Netherlands and Canada respectively. On behalf of various clients, Dockwise Shipping has been contracted to transport four cranes, dredging equipment, a jack up working platform and an accommodation barge to USA, Equatorial Guinea, Egypt and Angola respectively.

Dockwise Ltd. announced nine near-term contracts awarded to its subsidiary, Dockwise Shipping, for the transportation of a jack-up drilling rig, dredging equipment, military and various other cargoes. Total revenues for the contracts, including the previously announced first quarter transportation of the HMS Endurance, are approx $42m. Dockwise Shipping, in company with industry partners, is to transport the drilling rig Soraya to its new assignment in Thailand. On behalf of various clients, Dockwise Shipping has been contracted to transport three dredging cargoes to Japan, Angola and Bahrain, various barges to Angola and Nigeria, cranes and gantries to United Arabic Emirates as well as a project for the Canadian navy. All projects are for execution in the first half of 2009.

Galliano-based Edison Chouest Offshore will build a storage and preservation facility for BP in Houma next year, according to Edison Chouest corporate communications director Lonnie Thibodeaux. The 122,000 square-foot facility, located at on the northeast quadrant of the intersection of La. 311 and U.S. 90, will consolidate BP’s deepwater equipment assets into one facility from more than 100 storage locations, said Thibodeaux. Additionally, the U.S. 90-La. 311 intersection is a link-up with Morgan City and Thibodaux. Chouest will probably subcontract parts of the BP building and in-house personnel will work on other aspects, officials said. Construction, which will probably consume a year, is slated to begin in January.