Transocean Reports Q2 2013 Revenue Increase

MarineLink.com
Wednesday, August 07, 2013
Photo courtesy of Transocean

Transocean's second quarter 2013 revenues were US$2.397-billion, compared with US$2.197-billion in the first quarter of 2013.

Financial highlights:

  • Operating and maintenance expenses for the second quarter were $1.393 billion, compared with $1.375 billion in the first quarter of 2013;
  • Second quarter 2013 net income attributable to controlling interest was $307 million, which included $85 million of net unfavorable items. This compares with the first quarter 2013 net income attributable to controlling interest of $321 million, which included $16 million of net unfavorable items;
  • Second quarter Annual Effective Tax Rate(1) was 23.5 percent, compared with 19.2 percent in the first quarter of 2013;
  • Second quarter 2013 net income attributable to controlling interest was $0.84 per diluted share.  After adjusting for net unfavorable items, adjusted earnings from continuing operations were $392 million, or $1.08 per diluted share;
  • Cash flows from operating activities were $416 million in the second quarter, compared with $106 million in the first quarter of 2013;
  • Revenue efficiency(2) was 93.1 percent in the second quarter, compared with 88.0 percent, in the first quarter of 2013. Ultra-deepwater revenue efficiency was 91.1 percent, compared with 83.8 percent in the prior quarter;  
  • Total fleet rig utilization(3) was 80 percent in the second quarter, unchanged from the first quarter of 2013; and
  • Contract backlog was $27.3 billion as of the July 17, 2013 Fleet Status Report.  Since July 17, 2013, additional contracts totaling $460 million were secured.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

Côte D’Ivoire Invests in O&G Safety Training

Thegrowth in oil and gas activity in Côte D’Ivoire has seen investment in standardized safety training in the region far outstrip that of other hydrocarbon-rich West African countries,

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Offshore

Sea Trucks Returns to the Gulf of Mexico

Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico,

Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.

IRSHAD Acquires Damen Shoalbuster 2308

Abu Dhabi Petroleum Ports Operating Company (IRSHAD), a part of the ADNOC Group of Companies, has taken delivery of a Damen Shoalbuster 2308, named Al Marfa 1.

Finance

Matson Pumps $30 Million into Alaska Operations

Ocean cargo shipper Matson, Inc. said it is moving quickly to fund improvements in its new Alaska operations following its May 29 acquisition of Horizon Lines' Alaska services.

General Dynamics Tops Q2 Estimates

General Dynamics Corp, a maker of ships, tanks and business jets, reported higher-than-expected quarterly earnings and revenues on Wednesday, and sharply raised its outlook for full-year profit.

Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.

Offshore Energy

Sea Trucks Returns to the Gulf of Mexico

Offshore installation services provider Sea Trucks Group announced it has been awarded a charter contract for its accommodation construction vessel Jascon 31 to operate in the Gulf of Mexico,

Next Wave of FLNG Projects on the Horizon

There will be significant growth in both investment and activity in the FLNG market over the next seven years, with Douglas-Westwood (DW) forecasting total expenditure of $58.

'Kayaktivists' to Launch Blockade of Shell Icebreaker

A small group of protesters and activists are gathering at the Cathedral Park boat ramp in Portland, preparing to stay for a 24-hour vigil as they wait for Royal Dutch Shell Oil's icebreaker ship,

Underwater Engineering

New Load Measurement Solution for Port of Dampier

Strainstall designs and delivers a load measurement solution for the world’s largest floating wharf at Port of Dampier.   Strainstall, part of James Fisher and Sons plc,

IMCA Appoints Faure as President

Bruno Faure, Group Senior Vice President Subsea Projects and Operations at Technip  has taken over the role of President of the International Marine Contractors Association (IMCA),

Seabed Geosolutions Bags Two Contracts

Seabed Geosolutions will soon mobilise for the variation order that was signed today by Abu Dhabi National Oil Company (ADNOC) with CGG to conduct a shallow water seabed survey.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair 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: 0.1774 sec (6 req/sec)