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Offshore Rig Utilization Declines Slightly
Worldwide offshore rig utilization declined slightly since last week, according to Offshore Data Services' weekly mobile offshore rig count. Two less mobile offshore…
Offshore Rig Counts Make Mixed Moves
Offshore rig counts in the world's largest drilling markets made mixed moves this week, bringing the end to a year that was less than kind to the world's offshore rig owners. The U.S.
Transocean Sedco Forex Merger Establishes World's Largest Offshore Driller
Transocean Offshore Inc. has completed its merger with Sedco Forex, which was spun-off from Schlumberger Limited. The resulting company, Transocean Sedco Forex Inc.…
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…
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.
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.
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.
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.
Global Marine Announces December SCORE
Global Marine's Summary of Current Offshore Rig Economics (SCORE) for December 1999 increased 3.5 percent from a month earlier, with significant improvement of the…
Quarter and Year-End Earnings
Once again, quarter and year-end earnings reported in the offshore market reflected a familiar trend: oil majors saw gains - sometimes significant; while oilfield…
Offshore Stocks Flying High As Boom Nears
It appears that the long awaited, much antipated and greatly debated offshore boom part II is prepared to launch again, as offshore drilling stocks surged on Thursday as U.S.
Chiles Offshore Enters Into Arrangement
Chiles Offshore LLC has begun a bareboat charter arrangement with Perforadora Central of Mexico City, who is the owner of the Mobile Offshore Drilling Unit, Tonala.
Offshore Rig Report
The U.S. and European offshore rig counts increased since last week, according to Offshore Data Services' weekly mobile offshore rig count. In addition, one new…
Oilfield Stocks Take A Hit As Crude Dips Below $30
Profit-taking hit oilfield service and drilling stocks on Monday as U.S. crude oil prices shed over a dollar to dip below $30 a barrel for the first time since February 28.
Proposed Outer Continental Shelf Rules Published
After many years of work, the USCG published a Notice of Proposed Rulemaking (NPRM) for the Outer Continental Shelf Activities, 33 CFR Subchapter N, in December.
News Briefs
First Wave/Newpark Shipbuilding, in Galveston, Texas, has had a busy spring. First, the company was awarded a contract by Diamond Offshore Drilling to install a…
Crescent Towing To Convert 8 Tugs with Bollinger
Bollinger’s Algiers repair and conversion yard has recently embarked on a major conversion project that will convert eight 105-ft. single screw tugs to 4,000 hp twin screw boats.
GlobalSantaFe Sells Offshore Jackup Rig
GlobalSantaFe Corporation sold the Key Bermuda offshore jackup drilling rig to Nabors Drilling International Limited for about $29 million in an all cash transaction.
Bassoe Offshore Launches RigBase
RigBase, a web-based resource for the offshore drilling industry, is launched today by Bassoe Offshore Consultants. RigBase is a rig market information system that…