Seadrill Steers a Steady Course in Q1 2013

By George Backwell
Wednesday, May 28, 2014
Drillship photo courtesy of Seadrill

In its first quarter 2014 financial results Seadrill reported revenues were US$1,221 million compared to $1,469 million in the fourth quarter of 2014.  The decrease is primarily due to the deconsolidation of the Seadrill Partners and downtime on the West Alpha, West Phoenix, West Pegasus, and West Polaris.  Offsetting these items was the inclusion of the West Auriga, West Tellus, West Vela, West Castor, and West Telesto for a full quarter.  On a consolidated basis revenues for the first quarter were US$1,436 million.

Operating profit for the quarter was US$890 million compared to US$568 million in the preceding quarter. The increase is primarily a result of the gain on sale for the West Auriga and new rigs entering service.  On a consolidated basis operating profit for the quarter was US$574 million.

Net financial and other items for the quarter showed a gain of US$2,239 million compared to a loss of US$286 million in the previous quarter. The gain is primarily related to the gain recognized with the deconsolidation of Seadrill Partners, income received from Seadrill Partners of US$39 million and from Archer of US$5 million.

Details at: www.seadrill.com
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World Receives 1st Scheduled Vessel at New Terminal

DP World has yesterday welcomed the first scheduled vessel to call at its new Container Terminal 3 in Jebel Ali, Dubai, as it gears up to serve customers at the state-of-the-art facility.

Kalmar 5th Generation Gloria Reachstackers Enter US

Kalmar, part of Cargotec, is launching its highly acclaimed range of reachstackers, called Gloria into the Americas. The eagerly awaited launch follows the successful

Foster Wheeler & MDM Engineering Merged

Foster Wheeler AG announced today that an indirect wholly owned subsidiary of the Company has completed the acquisition of MDM Engineering Group Limited (“MDM”)

Finance

UASC Targets Expansion to Beat Container Market Blues

UASC expects to reach volume of 2.35 mln TEU in 2014 Global carriers still struggling with weak conditions United Arab Shipping Company (UASC) is on a major expansion drive,

Ecoships Claims 15% Ship Efficiency Gain

Ecoships introduced a customized version of the Six Sigma DMAIC approach to process and performance evaluation in order to optimize the energy-efficiency of the vessels under its management.

Singapore Bunker Meter Mandate Targets 'Frothy Fuel'

Singapore, the world's biggest bunkering port, plans to end the so-called "cappucino effect" in ship fuelling through new meters designed to stop suppliers from short-changing customers,

Offshore Energy

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

A History of U.S. Oil Export Controls

On Oct. 20, 1973, King Faisal of Saudi Arabia imposed a total embargo on oil shipments to the United States among other countries in response to their support for Israel during the Arab-Israeli war.

Three Dead in Offshore Platform Accident

Three workers were killed and one is still missing after an accident at one of the offshore oil and gas platforms in the Caspian Sea in Azerbaijan, Azeri state energy company SOCAR said on Thursday.

Underwater Engineering

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Pemex Suspends Eviction of Workers in Campeche

Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1233 sec (8 req/sec)