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

People & Company News

Odfjell Names Mørch President, CEO

The board of directors of Odfjell SE has appointed Kristian Mørch as the company's new president and CEO. He will succeed current president and CEO Tore Jakobsen by November 1, 2015.

IMCA Publishes Guidelines for DP OSV Safe Operations

Reliable and robust methods of positioning are required for safe vessel operations in close proximity to offshore installations. Dynamic positioning (DP) is well-established

MAN GenSets for Chilean Fishing Vessel

MAN Diesel & Turbo received an order for three MAN 6L21/31 gensets to power a wellboat newbuilding for Patagonia Wellboat, the Chilean fish-farming operator. The

Finance

LNG Tanker Due in UK Around May 6

Britain's Isle of Grain liquefied natural gas (LNG) import terminal is set to receive the GDF Suez Point Fortin tanker on around May 6, live ship-tracking data on Reuters Eikon shows.

Maersk Meets Iranian Officials over Seized Vessel

Maersk Line said on Monday it had met again with the Ports & Maritime Organization (PMO) in Iran regarding the seizure of the vessel Maersk Tigris but has yet to

6,800 Migrants Rescued as Med Seas Abate

One of busiest weekends for sea crossings this year. Around 6,800 migrants were rescued from overcrowded boats crossing to Europe over the weekend, including

Offshore Energy

OTC 2015: ABS Addresses Improved Jackup Safety

Multi-pronged program promotes safe jackup operations.   ABS, a leading provider of maritime and offshore classification services, is investing in research and

Lamprell Delivers Rig to National Drilling Co.

Lamprell announced the construction of the jackup drilling rig, the “Butinah”, and delivery to Abu Dhabi’s National Drilling Company (NDC) safely and within budget.

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

Underwater Engineering

Lamprell Delivers Rig to National Drilling Co.

Lamprell announced the construction of the jackup drilling rig, the “Butinah”, and delivery to Abu Dhabi’s National Drilling Company (NDC) safely and within budget.

Research Award to Honor Outgoing ABB Chairman Gruenberg

ABB, the leading power and automation technology group, has created an international research award to honor Hubertus von Gruenberg, who is stepping down after

DNV GL's Walk to Work Guidelines for Offshore Personnel

Offshore facility operators can now consider an alternative and more cost-effective means to transfer personnel to and from their facilities, which is safe, efficient and regulatory compliant.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Simulators Winch
rss | archive | history | articles | privacy | 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: 0.2622 sec (4 req/sec)