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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

TDDCL Seeks Input for New Repair Yard

Trinidad Dry Dock Company to develop new ship repair yard at Port of Spain; company requests Expressions of Interest for Environmental Impact Assessment and Geotechnical

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Maritime Training Five Years from Now: A Look Ahead

For anyone involved in maritime training, now is an incredibly exciting time full of opportunity. More than ever before, there are new advanced techniques and technologies

Finance

NORDEN CEO: Bulk Market Challenges to Continue

Klaus Nyborg, interim CEO at Denmark-based dry bulk and product tanker shipping company Dampskibsselskabet NORDEN A/S, expects difficult dry cargo market conditions

Turkey Maritime Sector Alive & Kicking

Located on the periphery of two great continents, Turkey has benefitted from being in a favored position right at the center of an assertive and fast growing economic area.

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.

Offshore Energy

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

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.

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

Underwater Engineering

Statoil: Polarled Pipe-Laying Kicks Off

On 26 March, the Solitaire pipe-laying vessel started on the first stage of the Polarled installation project. The 482-kilometre long pipeline will transport gas

Submerged Politics in Aussie's $39 bln Submarine Plan

Australian government plans to spend 50 billion Australian dollars (US$39.39 billion) on powerful new submarines, has become a political football at home, reports Reuters.

Moskito to Recover Oil from Sunken Wrecks

A tool for removing oil in submerged vessels was developed in Norway by Miko Marine. Moskito is designed to address the pollution threat that exists with the

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.2044 sec (5 req/sec)