Marine Link
Friday, March 29, 2024
SUBSCRIBE

Atwood Oceanics News

08 Oct 2018

Ensco to Buy Rowan in $2.38 Bln Deal

©  Lukasz Z / Adobe Stock

Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal since OPEC-led efforts boosted oil prices in the second half of 2016. Ensco bought rival Atwood Oceanics in a similar deal last year.Rowan shareholders will receive 2.215 Ensco shares for each share held.

09 Oct 2017

Ensco Completes Acquisition of Atwood Oceanics

Ensco plc announced today that Ensco shareholders voted to approve the allotment and issuance of Ensco Class A ordinary shares to shareholders of Atwood Oceanics in connection with the all-stock acquisition of Atwood at the Company’s general meeting of shareholders on 5 October 2017. The final results of the general meeting of shareholders held today indicate that 65% of the shares cast at the meeting voted in favor of this proposal. Carl Trowell, Ensco’s President and Chief Executive Officer, said, “We are extremely pleased that Ensco shareholders recognized the strategic and financial merits of our combination with Atwood. "By acquiring Atwood at a pivotal time in the market cycle…

04 Oct 2017

Offshore Rig Firms See End to Historic Downturn

Aker BP recently awarded a contract worth up to $68 million to Odfjell Drilling for the lease of the semi-submersible drilling rig Deepsea Stavanger in the Norwegian Sea and the Barnts Sea (Photo: Aker BP)

Demand for offshore rig rental globally is starting to recover from its worst ever downturn, led by oil firms' growing demand for harsh-environment exploration and triggering multi-billion dollar tie-ups among drillers hoping to profit, executives said. While the 2014-2016 oil price crash caused firms to cut exploration budgets, ending a boom in rig demand and bankrupting many owners, energy companies are now seeking to replenish their hydrocarbon reserves. The nascent demand for harsh-environment rigs…

07 Dec 2016

Atwood Delays Drillship duo by Two Years

Atwood Oceanics, Inc. announced today that it has agreed with Daewoo Shipbuilding & Marine Engineering Co. ("DSME") to delay the requirement to take delivery of Atwood's two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer, by two years to September 30, 2019 and June 30, 2020, respectively. In connection with the delay, Atwood will make a payment of $125 million for the Atwood Archer on or before December 15, 2016, as well as a payment of $15 million on the earlier of June 30, 2018 or the delivery date. In respect of the Atwood Admiral, Atwood will make a payment of $10 million on the earlier of September 30, 2017 or the delivery date.

28 May 2015

Executive Changes at Transocean

Transocean Ltd. today announced that, as mutually agreed with the company, Esa Ikaheimonen is stepping down as Executive Vice President and Chief Financial Officer effective immediately. Mr. Ikaheimonen has also resigned his company-appointed position as the Chairman of the Board of Directors of Transocean Partners LLC, a subsidiary of Transocean. Additionally, the company announced that Mr. Mark Mey has been appointed as Executive Vice President and Chief Financial Officer effective May 28, 2015. "Esa brought a fresh and unique perspective to Transocean when he joined the company almost three years ago and he has contributed materially to the company's capital structure…

27 Mar 2015

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators. Now, with oil prices down by half since June, many have become a burden on their owners as drilling activity slows. Drillship operators face a more brutal hit to margins than they did after the oil-price crash of 2008 because of the huge cost of maintaining the more than $10 billion worth of state-of-the-art vessels that have been idled at sea, analysts say. Noble Corp Plc, Ensco Plc and Transocean Ltd are among companies that have invested in advanced rigs which, unlike older jack-up rigs that attach to the ocean floor, rely on dynamic positioning systems using thrusters to keep them in position.

12 Dec 2013

DSME Delivers Vessel to Atwood Oceans

Atwood Oceanics, Inc. announced today the delivery of the Atwood Advantage from the Daewoo Shipbuilding & Marine Engineering Co., Ltd. (DSME) shipyard in South Korea. The Atwood Advantage has departed the DSME shipyard and commenced its drilling services contract with Noble Energy, Inc. Following its mobilization to the U. S. Gulf of Mexico, the Atwood Advantage will conduct a three year drilling program with Noble Energy. Rob Saltiel, Atwood Oceanics President and CEO, commented, "We are very pleased to take delivery of the Atwood Advantage, the first of four 'A-Class' ultra-deepwater drillships that we are building at the DSME shipyard in South Korea. Atwood Oceanics, Inc.

01 Jul 2013

DSME Wins New Drillship Order

DSME signed a contract with Atwood Oceanics, a U.S.-based ocean drilling company, for the construction of one drillship. This is the option of last year’s contract with a value of approximately $570 million and it will be delivered at the end of 2015. DSME and Atwood Oceanics also agreed in principle to an additional drillship contract. The newly ordered drillship is a DSME-12000 type drillship which was developed using DSME’s own technology. It is able to drill down to a maximum of 12km in water up 3,600m in depth and will possess dual derricks so pipe assembly work and drilling operations are possible at the same time. This will increase its effectiveness and reduce working hours by 25% when compared to a single derrick system.

25 Jun 2013

Korean Yard to Build Fourth Atwood Ultra-deepwater Drillship

Atwood Deepwater Drillship: Photo courtesy of Atwood Oceanics

An Atwood Oceanics subsidiary has entered into a turnkey construction contract with Daewoo Shipbuilding & Marine Engineering to construct a fourth ultra-deepwater drillship, to be named 'Atwood Archer'. The Atwood Archer is expected to be delivered by December31, 2015 at a total cost, including two blowout preventers , project management, drilling and handling tools and spares, of approximately $635-million. Upon delivery, the new rig will become the seventeenth mobile offshore drilling unit owned by the Company.

22 Jan 2013

Offshore Thailand Drilling Contract for 'Atwood Orca'

An Atwood Oceanics subsidiary awarded drilling services contract by Mubadala Petroleum. The Atwood Orca, currently under construction at PPL Shipyard in Singapore, will have a rated water depth of 400 feet, 1.5 million pound hook load capacity, accommodation for 150 personnel and significant offline handling capabilities. The agreement is for a firm duration of two years. The Atwood Orca is expected to be delivered from the PPL shipyard in early May 2013, ahead of its scheduled June delivery after which it will mobilize for a period of approximately ten days to its first location offshore Thailand. This contract adds $116 million in revenue backlog, bringing Atwood's total revenue backlog to approximately $2.6 billion as of January 22, 2013. Atwood Oceanics, Inc.

21 Dec 2012

Atwood Gets Jack-up Rig Contract Extension

An Atwood Oceanics, Inc. subsidiary awarded year's contract extension by Salamander Energy for the jackup 'Atwood Mako'. The extension is priced at a day rate of $155,000 and begins September 9, 2013. The Atwood Mako commenced its initial twelve month drilling services contract with Salamander on September 9, 2012 for operations offshore Thailand. With the extension, the Atwood Mako's firm commitment extends through September 9, 2014. Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The company currently owns 12 mobile offshore drilling units and is constructing three ultra-deepwater drillships and one high-specification jackup.

04 Oct 2012

Coastal Energy Charters Atwood Manta Rig

Coastal Energy Company contracts 'Manta' jackup drilling rig from an Atwood Oceanics subsidiary for operations in the Gulf of Thailand & offshore Malaysia. In accordance with the contract, US-based Coastal will pay a $145,000 day rate throughout the 12 month firm duration. The Company anticipates delivery of the Manta by late November. "We are pleased to announce the signing of this contract with Atwood and are eager to commence drilling with the Manta later this year. The addition of a second drilling rig is an important milestone for Coastal, as it will allow us to conduct our development and exploration programs simultaneously.

28 Sep 2012

Atwood Oceanics Orders Third Ultra-Deepwater Drillship

'Atwood Advantage': Photo credit Atwood Oceanics

The Atwood Admiral is expected to be delivered by March 31, 2015 at a total cost, including two blowout preventers ("BOPs"), project management, drilling and handling tools and spares, of approximately $635 million. The design of the Atwood Admiral will be identical to the previously ordered Atwood Advantage and Atwood Achiever – all three are DP-3 dynamically-positioned, dual derrick ultra-deepwater drillships rated to operate in water depths up to 12,000 feet and drill to a depth of up to 40,000 feet.

17 Sep 2012

Fairmount Sherpa Tows Rig Atwood Condor

Fairmount Marine’s tug Fairmount Sherpa has delivered rig Atwood Condor fast and safely in Port of Spain, Trinidad. The semi submersible rig was towed from Port Louis, Mauritius, over a distance of 8,100 nautical miles with an average speed of 8.5 knots. The Atwood Condor is a 2012 Singapore build dynamically positioned semi submersible drilling unit capable of operating in 3,050 meters of water and drilling depths up to 12,200 meters. The 118 meter long state-of-theart rig has a accommodation capacity for up to 200 persons. The rig is owned by Atwood Oceanics, headquartered in Houston, US.

19 Jul 2012

Aker Solutions Wins Drilling Riser Contract

Aker Solutions has won a contract to deliver a deepwater drilling riser system to Atwood Oceanics, the drilling operator. The contract value is undisclosed. The deepwater drilling riser system will be manufactured and delivered from Aker Solutions' manufacturing plant in Port Klang, Malaysia. "We are very pleased to be delivering an Aker Solutions CLIP riser system to Atwood for the fifth time," says Thor Arne Håverstad, head of Aker Solutions' drilling technologies business. The drilling riser system is scheduled to be delivered in the autumn of 2013. Aker Solutions has previously delivered risers to the Atwood Osprey and Atwood Condor drilling units. Another two drilling riser systems are currently being produced for the Atwood Advantage and Atwood Achiever units.

15 Jul 2012

Watermakers for Newbuild Drillships Ordered from Hatenboer-Water BV

Demitec® is the trade name of Hatenboer-Water RO type watermakers. These are heavy duty installations specially designed for 24/7 operation in maritime and offshore applications. These drillships, currently under construction, will be able to drill to a water depth of 12,000 ft (3 km) and are on order from DSME by Vantage Energy, Atwood Oceanics and two for Aker Solutions. The watermakers work on the principle of reverse osmosis (RO) and have a capacity of 50 m3 per day. Drilling at great depths demands an extremely high quality of product water. The installations can supply water with a purity of only 10 ppm TDS. To obtain such a standard, the installation is in a two-stage configuration, with two RO installations in-line.

02 May 2012

Atwood Oceanics Announce Q1 2012 Financial Report

Atwood Oceanics Inc. has announced  that the Company earned net income of $59.5 million or $0.90 per diluted share, on revenues of $171.6 million for the quarter ended March 31, 2012 compared to net income of $65.5 million or $1.00 per diluted share on revenues of $184.7 million for the quarter ended December 31, 2011 and compared to net income of $70.6 million or $1.08 per diluted share, on revenues of $159.1 million for the quarter ended March 31, 2011. For the six months ended March 31, 2012, the Company earned net income of $124.9 million or $1.90 per diluted share, on revenues of $356.3 million compared to net income of $123.5 million or $1.89 per diluted share, on revenues of $305.4 million for the six months ended March 31, 2011.

27 Apr 2012

ABS Elects New Council

At the 150th Annual Meeting of the Members of ABS, three industry leaders were elected to the ABS Council. Following the Annual Meeting, the ABS Council met and elected industry leaders to both its Marine and Offshore Technical Committees. Individuals serving on the ABS Council and the Technical Committees help guide the class society in fulfilling its mission of promoting the security of life, property and the natural environment. “Classification represents the concept of self-regulation for the marine and offshore industry,” said ABS President and CEO Christopher J. Wiernicki.

31 Jan 2011

Daewoo Drillship Order from U.S.

According to a Jan 31 report from Reuters, Daewoo Shipbuilding & Marine Engineering said that it had won an order to build a drillship from Atwood Oceanics Inc. (Source: Reuters)

06 Jul 2011

Aker Solutions Awarded $50 Million Contract

Aker Solutions has been awarded a contract for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea. The riser package will be delivered to offshore drilling company Atwood Oceanics' drill ship. The contract value is approximately $50 million and includes an option for another two units.   The 10,000 ft deepwater drilling riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang, Malaysia. Delivery of the first drilling riser system is scheduled for June 2013. Aker Solutions currently has 15 drilling riser systems in operation, of which six complete drilling riser systems have been delivered this year. The contract has been signed and booked as order intake in Q2 2011.

09 Jan 2012

Aker Solutions Wins Drilling Riser Contract

Aker Solutions has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DSME) for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea. The riser package will be installed on Atwood Oceanics, Inc.'s ultra-deepwater drillship, the Atwood Advantage. The contract value is approximately $48 million. The 10 000 ft deepwater drilling riser system will be manufactured and delivered out of Aker Solutions' manufacturing plant in Port Klang, Malaysia. Delivery of the drilling riser system is scheduled for March 2014.

07 Feb 2012

Atwood Oceanics Wins Contract Offshore Israel

Atwood Oceanics sadi that one of its subsidiaries has been awarded a drilling services contract by Shemen Oil and Gas Resources Ltd., an Israel-based oil and gas company, for the Atwood Beacon. The day rate for work offshore will be $151,000, with contract commencement expected in September 2012 in direct continuation of the current contract. The costs for the mobilization will be covered by provisions in the current rig sharing group contract. The award has a firm duration of 180 days. With the award of this contract, the firm contractual commitments for the Atwood Beacon are expected to extend through February 2013.

26 Jan 2010

Athens Group Third Year of Growth

Athens Group announced a 64% increase in year-over-year revenue for 2009 as well as a 225% increase in booked business for 2010. Athens Group is experiencing a growing demand for its Drilling Technology Assurance (DTA) Services on newbuilds and existing fleets as drilling contractors and operators become increasingly aware of the need for control systems and software engineering expertise on today’s high-specification assets. In 2010, Athens Group’s Proven Practices Methodology will be used by a growing base of customers to reduce Non-Productive time (NPT) and improve safety during all phases of the rig lifecycle including construction, operations, annual audits, and refurbs.