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S&P Raises Transocean Offshore Ratings
Standard & Poor's raised its ratings for Transocean Offshore Inc., renamed Transocean Sedco Forex Inc. (See chart page 2, related story page 8) At the same time…
GOM Well Fire Addressed
Callon Petroleum Co. reported that all equipment and manpower were in place to bring the fire on its South Marsh Island Block 261 well in the Gulf of Mexico under control.
Magnum Hunter Expands Gulf of Mexico Drilling Program
Magnum Hunter Resources, Inc. has significantly expanded its drilling program in the Gulf of Mexico through several recent acquisitions and the commitment of new capital.
Texaco Discontinues Appraisal Drillings
Texaco has discontinued appraisal drilling of the Fuji and adjacent McKinley prospects in the Gulf of Mexico. Fuji is located 150 miles southwest of New Orleans. The No.
R&B Falcon Reports 3Q Results
R&B Falcon Corporation reported a loss from continuing operations of $22.4 million for the three months ended September 30, 1999, compared with a loss from continuing…
Frink Retires From Parker Drilling
Shelby Frink, vice-president of operations support, retired from Parker Drilling Company after 43 years of service with the company. He began his career with Parker…
Moody's Ups Transocean Offshore
Moody's Investors Service upgraded the senior unsecured debt ratings of Transocean Offshore, Inc. to A3 from Baa1 to reflect the significant benefits that the company…
Offshore Oilfield Stocks Rally
Offshore oilfield service stocks, to put it mildly, have endured a wild ride for much of 1999. The once high-flying sector actually hit the skids in concert with the late 1997 Asian financial crisis…
Singapore Yard Completes $250M Transocean Rig
Singapore's Promet Private Ltd. (PPL) Shipyard completed construction of a $250 million semi-submersible oil drilling rig for offshore drilling contractor Transocean Sedco Forex.
Stratos Announces Expansion
Stratos Global Corporation has entered into a definitive agreement to acquire Shell Offshore Inc.'s telecommunications subsidiary, Shell Offshore Services Company (SOSCo).
Mr. Bice Salvaged
Drilling jackup Mr. Bice was finally brought to shore by Bisso Marine Co.'s Salvage team. The 4,000 ton jackup capsized and sank 15 miles southwest of Grand Isle, La.
Noble Drilling Files Suit
Noble Drilling Corporation, along with its subsidiaries Noble Drilling Services Inc. and Noble Drilling (U.S.) Inc., has filed suit against Samedan Oil Corporation and Mariner Energy, Inc.
Chiles Offshore LLC Completes Finance Moves To Free Up Cash
Chiles Offshore has raised $15 million through the sale of equity interests to its current equity holders. The proceeds were used by the company to repurchase and…
E&P Spending 2000: A Disappointing Gain?
While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint.
S&P Raises Transocean Offshore Ratings
Standard & Poor’s raised its ratings for Transocean Offshore Inc., renamed Transocean Sedco Forex Inc. (See chart page 2, related story page 8) At the same time…
Marine Drilling Reports Fourth Quarter Results
Marine Drilling Companies Inc. reported fourth quarter 1999 net income of $2.5 million, or $0.04 per share, on revenues of $44.8 million, compared to net income of $7.0 million…
E&P Spending 2000: Boom or Bust?
While the theoretical jury deciding which direction the offshore drilling market will take is still out, recent data suggests that the level of spending internationally will disappoint.
Noble Drilling Completes Fifth Conversion
Noble Drilling Corporation announced its fifth successful EVA-4000TM semisubmersible conversion, Noble Max Smith, commenced its mobilization to its first location…
ENSCO Completes Financing Facility
ENSCO International Incorporated announced the closing of a new $195 million loan facility guaranteed by MARAD. The facility will be used to finance the ENSCO 7500…
Mr. Bice Salvaged
Drilling jackup Mr. Bice was finally brought to shore by Bisso Marine Co.'s Salvage team. The 4,000 ton jackup capsized and sank 15 miles southwest of Grand Isle, La.