Noble Drilling Reports Results
Noble Drilling Corporation's reported net income increased 143 percent for the fourth quarter of 2000 to $51.9 million, or $0.38 per diluted share, on operating revenues of $241.2 million, compared to net income, excluding the effects of non-recurring items, of $21.4 million, or $0.16 per diluted share, on operating revenues of $173.5 million for the fourth quarter of 1999. The quarterly results for 1999 included a restructuring charge of $7.5 million ($4.9 net of tax) related to early retirement packages offered to a number of employees and the relocation of the Company's Gulf Coast Marine division office in Lafayette, Louisiana to the centralized office in Sugar Land.
QCI Wins Contract
QCI Marine Offshore LLC, a Joiner/Electrical company, has been awarded the accommodations and electrical work on Noble Drilling’s Clyde Boudreaux semisubmersible drilling rig. The work scope consists of four levels of new construction for 200 POB. The project will consist of complete outfitting and providing all support services. The project will be executed at Signal International’s shipyard in Pascagoula, Mississippi. QCI Marine Offshore has offices in Houston, Texas, Pascagoula/Vancleave, Mississippi and Macae, Brazil. To better service their customers, QCI just recently expanded its’ Electrical/Electronics & HVAC capabilities.
Shell Begins Work In Alaminos Canyon
Shell recently began work in the Alaminos Canyon region of the Gulf of Mexico on the company’s Perdido Regional Development Spar, which is expected to be the deepest spar production facility in the world. The Clyde Boudreaux, a semisubmersible-drilling rig, will drill a 20-well batch set initially. The rig is equipped with two derricks, allowing for dual activity, which means work can be done in half the time it would take a single-activity rig. The Clyde Boudreaux should remain at Perdido through 2010, working even after the spar is installed. First production from Perdido is expected around 2010 with the facility capable of handling 130,000 barrels of oil a day. Three fields will be developed with the Perdido Spar, which is jointly owned by Shell, Chevron and BP.
Transocean Announces Settlement and License Agreement
Transocean Inc. announced that one of its subsidiaries has entered into a settlement and license agreement with Noble Corporation. In the agreement, the Transocean subsidiary granted to Noble a worldwide and non-exclusive license to utilize Transocean's patents for offshore dual activity drilling methods and structures on the semisubmersible rig Noble Clyde Boudreaux which is currently working in the U.S. Gulf of Mexico. The agreement follows a settlement of Transocean's February 2007 patent infringement suit against Noble in the U.S. District Court of the Southern District of Texas, Houston division. In the lawsuit, Transocean alleged that a recent upgrade to the Noble Clyde Boudreaux infringed claims of the Transocean patents.
