Rignet Inc News

RigNet, Inc. announced that it has reached a settlement with Inmarsat Global Limited that concludes the GX Arbitration pending before the International Center for Dispute Resolution. Pursuant to the settlement, RigNet will pay Inmarsat $45 million immediately, $5 million in the third quarter of 2019, and $750,000 in the third quarter of 2020.“We are glad to put this matter behind us. While we are disappointed in the panel’s Phase I findings that a take or pay obligation under our January 2014 agreement had commenced, we believe that settling this matter reduces risk for our shareholders, customers, and employees. We were able avoid additional costs related to the arbitration and to secure value for our counterclaims which offsets Inmarsat’s additional claims…

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry, today announced that it has signed an agreement with Inmarsat to offer Fleet Xpress, the maritime version of its Global Xpress service, to the oil and gas maritime sector. The agreement will enable RigNet to extend high-speed communications to offshore service and supply vessels within the oil and gas industry across the globe. “RigNet differentiates itself in the oil and gas industry by providing fit-for-purpose technologies to help our energy customers operate remotely in a more productive, efficient and safe manner,” said Mark Slaughter, RigNet’s CEO and President.

VT iDirect, Inc. say that RigNet, Inc. has deployed an iDirect Series 5IF Universal Satellite Hub in Guaratiba, Brazil, which will enable RigNet to accelerate its penetration of the region's growing oil and gas and energy maritime markets. Based on the network expansion, RigNet will offer a managed service for energy, deep-water maritime and remote applications such as VoIP, Internet, video-conferencing and video services. The network delivers Ku-band bandwidth over iDirect's Evolution iDX 3.1 software and X5 remote.

Inmarsat plc, provider of global mobile satellite communications services, & RigNet, Inc. global provider of managed remote communications solutions to the oil and gas industry, agree a wide-ranging strategic transaction involving the appointment of RigNet to distribute Inmarsat’s Global Xpress and L-band services to the energy sector & the sale of Inmarsat’s retail energy business to RigNet. Under the terms of the agreement, RigNet will become a key Global Xpress distribution partner for the global energy sector and will offer Global Xpress and L-band services to RigNet’s growing customer base. In connection with the appointment, RigNet has entered into to a significant 4-year Global Xpress capacity pre-purchase.

RigNet, Inc., specialitsts in managed remote communications signs reseller agreement with Norwegian maritime & offshore  infotainment company SnapTV. "We are at a point in the oil and gas industry when media management systems, including those for crew welfare, are becoming more important," said Marcus D. Waters, global product manager for collaboration services at RigNet. "With SnapTV, we can provide robust and flexible media systems to our customers and enable immediate access to infotainment and media management solutions as a result of this agreement. SnapTV has specialized in media management for bandwidth-restricted environments and supports fleet-wide management of audio and video for applications such as crew infotainment…

RigNet, Inc., provider of managed remote communications to the oil and gas industry, makes management appointments. The company appoint Molly McGuirk as Region Manager, United States,  & Mike Neugebauer as Director, Global Operations & QHSE. McGuirk, who has been serving as director – global operations & QHSE, will have profit-and-loss responsibility for RigNet's operations in the United States, both offshore and onshore, as well as for international operations in the Gulf of Mexico.

Simmons & Co in Aberdeen completed 14 deals in 2012 valued $2.3-billion, more than double the 2011 total value. The corporate finance advisers to the energy sector have played a significant role in many of the most prominent transactions that took place across the oil and gas service sector in 2012 including deals subsea, well services, drilling and completions sectors. Colin Welsh, chief executive officer at Simmons said: "Getting the best result for our clients in the current environment has been challenging because the market dynamics keep changing as new buyers emerge and the sector becomes more geographically diverse. It helps that we focus exclusively on energy because our market intelligence is always current".

Morten Hagland Hansen appointed Vice President - Business Services, & Boyd Skelton as  Director – Products and Solutions. RigNet, Inc., a leading provider of managed remote communications solutions to the oil and gas industry made the new appointments and Mark Slaughter president and CEO of RigNet said: "I am delighted to be announcing these two leadership appointments; Morten Hansen has demonstrated success in several important roles over his long tenure at RigNet. Coming out of a planning role, Boyd Skelton is well-positioned to lead our renewed efforts to develop innovative solutions for our oil and gas customers. In his new role, Mr.

Nessco appointment keeps a weather eye on MetOcean opportunities. Nessco Group, a RigNet company (NASDAQ: RNET), has appointed Phil Goodall to grow the Company’s international offshore weather monitoring business. Mr Goodall, who takes up the position of business development manager for MetOcean, will oversee the globalisation of the company’s unique offering in meteorology and weather data systems. The MetOcean system gathers accurate weather information that is critical to aviation and marine operations in the oil and gas industry. The bespoke Nessco Integrated MetOcean System (NIMOS) software processes the data in real time to support weather dependent operations offshore.

RigNet, Inc. has announced that Mark Slaughter, Chief Executive Officer and President, will present at the Jefferies 2012 Global TMT Conference in New York on Wednesday, May 9, 2012, at 8:00 a.m. EDT. RigNet is a leading provider of managed remote communications, networks and collaborative applications dedicated to the oil and gas industry, focusing on offshore and onshore drilling rigs, energy production facilities and energy maritime. RigNet provides solutions ranging from fully-managed voice and data networks to more advanced applications that include video conferencing and real-time data services to remote sites in over 30 countries on six continents, effectively spanning the drilling and production industry.

RigNet, Inc., a provider of managed remote communications solutions for the upstream oil and gas industry, recently announced the expansion of its contract with Hercules Offshore to provide managed remote communications to its fleet of jackup drilling rigs and U.S. Gulf of Mexico-based inland barges. Under the previous contract, RigNet provided managed communication services to most Hercules Offshore rigs operating outside of the United States. This recent agreement expands the contract to include the company's jackup rigs and inland barges in the U.S. Gulf of Mexico, including the recently-acquired rigs from Seahawk Drilling. With managed communications solutions provided by RigNet, Hercules Offshore's remote personnel can now access critical enterprise data, voice and broadband Internet.

Edward Muller has been appointed to serve as a member of the Board of Directors of RigNet Inc. Paul Gundersen, RigNet chairman and CEO, said, "Ed Muller brings a valuable blend of industry knowledge and business experience to RigNet. Mr. Edward Muller was elected to the Global Marine Board of Directors in February 1997, and now serves on the GlobalSantaFe Board. A private investor, Mr. Muller was President and Chief Executive Officer of Edison Mission Energy, the wholly owned global power subsidiary of Edison International, from 1993 until 2000. In addition to RigNet, Mr. Muller currently serves as a Director for Interval, Inc., Strategic Data Corp. and The Keith Companies, Inc.

RigNet Inc., a privately held provider of managed communications services to the oil and gas industry, announced it has renewed its contract with ENSCO Offshore Company to provide voice and high-speed data services to ENSCO's fleet-wide drilling operations in the Gulf of Mexico. As part of this renewal, RigNet will now be the sole communications provider for ENSCO's Gulf of Mexico fleet, replacing Caprock Communications who had provided satellite communications. As part of the agreement with ENSCO, the RigNet communications solution will continue to be available on each of ENSCO's 19 rigs operating in this region. (Source: Houston Chronicle)