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Friday, January 19, 2018

Nabors Offshore News

Bisso Awarded Salvage Contract

Bisso Marine Company Inc. New Orleans, has been awarded the salvage contract to remove Nabors Offshore MODU ( Mobile Offshore Drilling Unit), Dolphin 105. The rig capsized during hurricane Lili October 2, 2002. The location of the rig is Ship Shoal 126 south of Morgan City, Louisiana.

HOS Closes Sea Mar Fleet Acquisition

Hornbeck Offshore Services completed its acquisition of 20 offshore supply vessels and their related business from certain affiliates of Nabors Industries Ltd. for $186 million, plus the cost of the fuel inventory on the vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-foot DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The total estimated cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34.0 million, of which $7.3 million was paid to Nabors at closing. All of the vessels acquired by Hornbeck Offshore are U.S. flagged and qualify for U.S.

Hornbeck Completes Sea Mar Fleet Acquisition

Hornbeck Offshore Services, Inc., has completed its previously announced acquisition of 20 offshore supply vessels (OSVs) and their related business from certain affiliates of Nabors Industries Ltd. for cash consideration of $186m, plus the cost of the fuel inventory on such vessels. The Sea Mar Fleet is comprised of ten 200 class DP-1 new generation OSVs and ten conventional OSVs. The company also acquired one 285-ft. DP-2 new generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. The total estimated cost of this newbuild vessel, prior to allocation of construction period interest, is approximately $34m, of which $7.3m was paid to Nabors at closing. All of the vessels acquired by Hornbeck Offshore are U.S.

SEACOR and Nabors Announce Letter of Intent for Offshore Vessel Fleet

SEACOR Holdings Inc. and Nabors Industries Ltd. have entered into a letter of intent to form a new company to own and operate a fleet of 20 offshore support vessels currently owned by a Nabors affiliate. A subsidiary of SEACOR will be the majority owner of the new company, Sea Mar Offshore LLC and will manage its 19 US flag and one foreign flag vessels. Nabors will be a minority owner of Sea Mar, which will qualify for US coastwise trade. Early termination of the waiting period under the "Hart-Scott-Rodino" Anti-Trust Improvement Act of 1976 was granted on June 20, 2007. The transaction is subject to definitive documentation and expected to close on or before July 13, 2007.

Nabors Completes Enserco Acquisition

Nabors Industries, Inc. last week completed the previously announced acquisition of Enserco Energy Service Company Inc., a Tonronto listed company. Gene Isenberg, Chairman and CEO of Nabors said, "I have been particularly impressed with the quality of Enserco's people and assets and look forward to integrating them into what is sure to be the best operation in Canada. The combined companies will possess the most modern and suitable fleet of rigs as well as the financial and technical resources to further expand. These enhanced capabilities will enable us to better fulfill our customers' requirements as they endeavor to find and develop what appears to be the most prospective natural gas province in North America.

Hornbeck to Acquire Sea Mar Fleet From Nabors

Services, Inc. Industries Ltd. such vessels. generation OSVs and ten conventional OSVs. generation OSV currently under construction at a domestic shipyard with an anticipated fourth quarter 2008 delivery. Nabors at closing. All of the vessels to be acquired by Hornbeck Offshore are U.S. and qualify for U.S. of the conventional vessels, which is foreign-flagged. offshore Mexico. expected to be immediately accretive to earnings. projected cash flows from operations. conditions, including third party consents and regulatory approvals, and is expected to occur in early August 2007.

Nabors Posts Quarterly Loss as Drilling Activity Slows

Photo: Nabors

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.1 million, or $3.08 per share, in the fourth quarter ended Dec. 31, compared with a profit of $150.6 million, or 50 cents per share, a year earlier.   Revenue rose 11.1 percent to $1.79 billion.     (Reporting By Darshana Sankararaman in Bengaluru; Editing by Simon Jennings)

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. The Key Bermuda was not considered a core asset in the company's worldwide fleet of offshore drilling rigs. GlobalSantaFe is a leading worldwide oil and gas drilling contractor offering a full spectrum of premium equipment and drilling management services. The company's diverse and technologically advanced fleet of 58 offshore rigs includes premium and heavy-duty, harsh-environment jackups; semisubmersibles; and dynamically positioned, ultra-deepwater drillships. Additionally, the company has two rigs currently under construction and two more on order.

BSEE Panel to Probe Offshore Fatality

BSEE Gulf of Mexico Region Director Lars Herbst has formally established an Investigative Panel. Image BSEE

The Bureau of Safety and Environmental Enforcement (BSEE) continues its investigation into the March 10, 2016 death in the Gulf of Mexico of Roy Miller, a Nabors Drilling offshore worker. The fatal injury took place on the Nabors platform rig during maintenance activities for Whistler Energy LLC. "My heartfelt condolences go out to the family of Roy Miller," said BSEE Director Brian Salerno. "Our thoughts and prayers are with you during this difficult time. BSEE Gulf of Mexico Region Director Lars Herbst has formally established an Investigative Panel.

Nabors Reports Higher-Than-Expected Earnings

Nabors Industries Inc. on Thursday reported better-than-expected first-quarter earnings, propelled by a surge in demand for its drilling rig fleet and services. The Houston-based driller earned $.51 per diluted share on a quarterly record operating income of $124 million, compared with $.12 a share on $33.2 million in the year-ago quarter. Wall Street analysts polled by Thomson Financial/First Call had estimated first-quarter earnings of 45 cents a share. evenues for the quarter reached $513.8 million compared with $279.1 million in the prior year. "These results only begin to demonstrate our potential, with global rig utilization at only 60 percent during the quarter and average pricing still well short of current leading edge rates," company officials said.

ASRY Rig Division’s Deliveries All on Time in 2014

In 2014, ASRY Offshore Services completed every one of its repair scopes within schedule, on-budget, and with leading safety standards. ASRY, a ship and rig repair yard in the Arabian Gulf, has confirmed that its Offshore division, which specializes in rig repairs, achieved 100% on-time delivery of all the rig projects completed in 2014. Global clients including Saudi Aramco, Saipem, Nabors Drilling, Egyptian Drilling Company and more chose ASRY for their rig repair projects last year, which totaled 17 rigs, and all took delivery of its vessels on schedule, and within budget. “With competition rising in the region, rig customers are more focused on ensuring that the maintenance of their assets is completed as efficiently as possible,” said ASRY Chief Executive, Nils Kristian Berge.

New CEO, Co-CEO to Lead MHI Vestas Offshore Wind

Photo: Vestas Wind Systems A/S

Mitsubishi Heavy Industries (MHI) and Vestas Wind Systems (Vestas) have appointed Philippe Kavafyan to Chief Executive Officer (CEO) and Lars Bondo Krogsgaard to Co-Chief Executive Officer (Co-CEO) of MHI Vestas Offshore Wind. The appointments will take effect on 1 April, 2018, and are made in accordance with the joint venture agreement's principle of changing its leadership every four years. Under the leadership of out-going CEO Jens Tommerup and Co-CEO Tetsushi Mizuno, MHI Vestas Offshore Wind has established itself as a leading player in offshore…

SBM Offshore Hands over FPSO Turritella to Shell

Turritella (Photo: Shell)

SBM Offshore said it has completed the transaction related to the sale of floating production storage and offloading (FPSO) vessel Turritella to Shell E and P Offshore Services B.V.   Shell exercised an option to purchase the FPSO from SBM Offshore in summer 2017.    The Turritella FPSO is contracted for the Stones deepwater development in the Gulf of Mexico, which began production in 2016.   The vessel has a daily production capacity of approximately 60,000 barrels of oil and 15 million cubic feet of natural gas.

Vroon Offshore Vessel Undergoes Modification Work

Photo: Damen Shiprepair

Damen Shiprepair Oranjewerf has completed final outfitting and modifications on a second subsea-support walk-to-work (W2W) vessel for Vroon Offshore Services (VOS). VOS Stone was built at Fujian Southeast Shipbuilding in China before coming to the Netherlands for completion. This follows a similar project successfully completed in July this year at Oranjewerf, involving sister ship VOS Start. The eight-week program for VOS Stone involved a wide range of activities, including installation of a 50-tonne active heave-compensated…

VOS Stone Equipped with Ampelmann W2W Gangway

Ampelmann A400 (Photo: Ampelmann)

Vroon Offshore Services and Ampelmann have joined forces to deploy a Walk to Work (W2W) solution for the Arkona offshore wind farm, located in the German Baltic Sea. Vroon’s VOS Stone vessel, the newest addition to its offshore-support fleet, will be mobilized with an Ampelmann A400 gangway system. The gangway, launched in 2017, will be utilized for the first time for W2W operations during array cabling work and commissioning of the Arkona offshore wind farm. The A400 gangway system…

G E Shipping Sells Supramax

Photo: The Great Eastern Shipping Co. Ltd.

India’s largest private sector shipping company  Great Eastern Shipping Company Limited (G E Shipping) has contracted to sell its 2003 built Supramax Dry Bulk Carrier Jag Rahul of about 52,364 dwt. G E Shipping said that the vessel will be delivered to the new buyer in Q4 FY 2017-18. The Company’s current fleet (including Jag Rahul) stands at 48 vessels, comprising 32 tankers (12crude carriers, 17 product tankers, 3 LPG carrier) and 16 dry bulk carriers (1 Capesize, 8 Kamsarmax, 7 Supramax) with an average age of 10.24 years aggregating 3.93 mn dwt.

Bibby Offshore Recapitalization Completed

Bibby Offshore chief executive Howard Woodcock (Photo: Bibby Offshore)

Subsea services provider Bibby Offshore Holdings Limited said it has completed the recapitalization of its balance sheet announced on December 5, 2017. The agreement to recapitalize the balance sheet was approved January 10 by 98.7 percent of noteholders of the £175 million (approximately $243 million) 7.5 percent senior secured notes, and makes noteholders the new owners of the group. “The completion of the recapitalization will be transformational for Bibby Offshore and is a major milestone for our business,” said Howard Woodcock, chief executive of Bibby Offshore.

Jumbo Orders LNG-powered Heavy Lift Ship

(Image: Ulstein Design & Solutions B.V.)

Dutch transportation and installation contractor Jumbo said it has signed a Letter of Intent (LOI) with shipbuilder China Merchants Industry Holdings (CMIH) for the construction of a new heavy lift crane vessel (HLCV) scheduled for delivery in the first quarter of 2020. The DP2 vessel will feature dual fuel engines capable of operating on liquefied natural gas (LNG), and will be built to serve the offshore wind and the offshore oil and gas industries. “Despite the current offshore climate, we are committing to this industry long term,” said Jumbo managing director, Michael Kahn.

Salazar Visits GOM Rigs, Observes Inspections & Safety

Secretary of the Interior Ken Salazar visited three offshore drilling rigs in the Gulf of Mexico July 28, where he received updates on the improved inspection process and additional safety requirements for blowout preventers and well construction. “We are quickly and thoughtfully implementing safety reforms for offshore energy operations to ensure workers, communities, and the environment are protected as the nation develops its energy supplies,” said Salazar. “Today, we saw production activities and shallow water drilling operations that are implementing the new standards as they continue their operations. The Secretary was accompanied by Deputy Secretary David Hayes, Director of Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM) Michael R.

Seacor Announces JV with Cosco Shipping Affiliates

File photo: SEACOR Marine

Offshore services vessel operator SEACOR Marine Holdings Inc. said it has formed a jointly owned company with affiliates of the world’s largest ship owner, COSCO Shipping Group. The Marshall Islands company, SEACOSCO Offshore LLC, entered into contracts for the purchase of eight Rolls-Royce designed new construction platform supply vessels (PSV) from COSCO Shipping Heavy Industry (Guangdong) Co., Ltd. Six of the PSVs are of UT 771WP design (4,400 tons deadweight), and two are of UT 771CD design (3,800 tons deadweight).

Bourbon, Bureau Veritas Partner on Digitalization

Bourbon Explorer 508 (Photo: Bourbon)

Under a new strategic partnership agreement, French offshore services firm Bourbon and testing, inspection and certification services provider Bureau Veritas will develop and deploy new digital technologies, including solutions for automation, real time fleet monitoring and mitigating cyber risks. For dynamic positioning systems in particular, the partnership will aim to deliver advanced automation of to enable real-time advisory tools for bridge operators and remote support for onshore teams…

Op/Ed: DPP a Benchmark Toward US Energy Dominance

© kesterhu / Adobe Stock

National Ocean Industries Association (NOIA) president Randall Luthi comments on the U.S. Department of the Interior’s (DOI) 2019-2024 National Offshore Oil and Gas Leasing Draft Proposed Program, which seeks to open nearly all U.S. offshore waters to oil and gas drilling. With 94 percent of our nation’s outer continental shelf (OCS) currently and unnecessarily off limits to oil and gas leasing and exploration, NOIA welcomes the bold and broad offshore leasing proposal released January 4 by the Department of the Interior.

BW Offshore Gets Contract Extension for FPSO Polvo

BW Catcher . Photo: BW Offshore

BW Offshore has signed an agreement with Petrorio for a one-year extension for the lease and operation of the FPSO Polvo. The firm period has been extended to Q3 2019 (from Q3 2018), with options until Q3 2022. The company has also announced that BW Catcher FPSO received the First Oil Certificate following the successful completion of the 72-hour interim performance test subsequent to the introduction of hydrocarbons on 23rd December 2017. BW Catcher FPSO is owned and operated by BW Offshore and the First Oil Certificate confirms the commencement of a seven-year fixed term contract…

Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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