Tidewater Elects Larry Rigdon as Chairman
Tidewater, which owns and operates the largest fleet of offshore support vessels in the industry, announced that Larry T. Rigdon has been elected Chairman of the Board effective October 28th.Rigdon replaces Dr. Thomas R. Bates, Jr., who has recently resigned from the board, said a press note.Rigdon has been a member of the Tidewater Board of Directors since August 2017. He has extensive prior experience as an executive at Tidewater. Rigdon served as Interim Chief Executive Officer…
Transocean 2013 Success Story: Dividend Up 34%
In a letter to shareholders chairman, Ian C. Strachan and Steven L. Full year 2013 net income attributable to controlling interest was $1.4 billion on total revenues of $9.5 billion, increases versus 2012. During the year we added approximately $7.9 billion in backlog, including a five-year contract with Chevron for the newbuild ultra-deepwater drillship, Deepwater Conqueror, to be delivered in the second quarter of 2016. Our industry-leading backlog of over $27 billion provides…
Transocean Executive V-P Resigns
Transocean Ltd. say that Executive Vice President, Chief of Staff. Ihab Toma, has resigned with effect from 31, December 2013. Transocean adds that with Mr. Toma's departure, the position of Chief of Staff will be eliminated and responsibilities redistributed. Effective immediately, the company's Board of Directors has designated the Chief Executive Officer, Steven L. Newman; the Executive Vice President and Chief Financial Officer, Esa Ikaheimonen; and the Executive Vice President and Chief Operating Officer…
Transocean Appoint Lars Sjobring Senior V-P & General Counsel
Mr. Sjobring will join the company upon completion of the notice period with his current employer and will be based in Geneva, Switzerland. In the interim, Mr. Allen Katz will continue to serve as the company's Interim Senior Vice President and General Counsel. His qualifications include over 15 years of law practice in international settings, and he received his education in both Europe and the United States. Mr. Sjobring has been serving as the Vice President Legal Affairs, General Counsel and Secretary of Autoliv, Inc., an automotive safety supplier, since 2007.
Keppel Wins US$1-Billion Transocean Jackup Rig Order
Keppel FELS Limited has secured a repeat order from a subsidiary of Transocean Ltd. (Transocean) to build 5 KFELS Super B Class jackup rigs for US$1.1 billion. The rigs are scheduled to be delivered progressively from 1Q 2016 to 3Q 2017. In addition, Transocean has options to build up to another five similar jackup rigs with Keppel FELS. Tailored to suit Transocean's requirements, the KFELS Super B Class rigs are designed to operate in 400 feet water depth and drill to 35,000 feet.
Transocean Disagrees with Proposed ISS Board Nominees
Transocean Ltd. commented on a report issued by proxy advisory service Institutional Shareholder Services (ISS) regarding the company's Annual General Meeting, which will be held on May 17, 2013. "Transocean strongly disagrees with ISS's decision to reject only one of Icahn's three nominees, particularly due to their lack of relevant experience and their affiliations with Mr. Icahn. Transocean does not believe that Icahn or his nominees have offered a plan or strategy for the company other than the extraction of an unsustainable dividend that the company believes would be detrimental to shareholder value, and which ISS sensibly rejected.
Transocean General Counsel Resigns
Transocean Ltd. announce Nick Deeming has resigned as Senior Vice President, General Counsel and Assistant Corporate Secretary. Mr Deeming resigned for personal reasons, and the company expressed its gratitude for his service. Effective immediately, Mr. Deeming's responsibilities as General Counsel will be assumed by Michael F. Munro, Vice President, Deputy General Counsel and Chief Compliance Officer, and David Schwab, Senior Associate General Counsel, Global Head of Dispute Resolution. Messrs. Munro and Schwab will report to Steven L. Newman, President and Chief Executive Officer. Mr. Munro joined Transocean in 2008 as Associate General Counsel and Chief Compliance Officer. He was named Vice President in February 2010 and Deputy General Counsel in May 2012. Mr.
Shell Charters Four Transocean New Drillships
Transocean Ltd. awarded 10-year contracts for four newbuild dynamically positioned ultra-deepwater drillships by Royal Dutch Shell (Shell). Shipyard delivery for the first drillship is scheduled for mid-2015. The remaining three drillships are expected to be delivered from the shipyard at approximately six-month intervals thereafter. After customer acceptance, the contracts are expected to commence in 2015 and 2016, contributing an estimated revenue backlog of $7.6 billion, excluding mobilization. The aggregate capital investment for the four newbuild rigs is an estimated $3.0 billion, excluding capitalized interest. All four drillships have advanced capabilities: each is designed to operate in water depths of up to 12,000 feet and drill wells to 40,000 feet.
Transocean to Focus on Floaters, Jackups, Sells 38 Shallow Water Rigs
Transocean Ltd. to sell 38 shallow water drilling rigs to Shelf Drilling International Holdings, Ltd. for approximately US$1.05-billion. Shelf Drilling is a newly formed company sponsored equally by Castle Harlan, Inc., CHAMP Private Equity and Lime Rock Partners. "This agreement marks an important milestone in our asset strategy to increase our focus on high-specification floaters and jackups, improving our long-term competitiveness," said Steven L. Newman, President and Chief Executive Officer of Transocean Ltd. The sales price includes approximately $855 million in cash, subject to working capital and other closing adjustments, and $195 million in seller financing. Seller financing will be in the form of preference shares issued by an affiliate of Shelf Drilling.
Transocean Opens Kuala Lumpur Training Center
Transocean officially opened its state-of-the-art training center and offices in Kuala Lumpur, Malaysia. The training center and offices were opened by Dato’ Wee Yiaw Hin, Executive Vice President, Exploration and Production, of PETRONAS, and Steven L. Newman, President and Chief Executive Officer of Transocean. “It is exciting to celebrate the opening of our Kuala Lumpur facilities, and we are honored to have Dato’ Wee join us for this event,” said Steven Newman. The 32,000-square-foot Transocean offices and training center are located in the G Tower in downtown Kuala Lumpur, close to the PETRONAS Towers. Approximately 120 Transocean personnel work in the Kuala Lumpur facilities.
Transocean Ltd. Announces Management Appointments
Transocean Ltd. announced the following management appointments, effective immediately. Ricardo H. Rosa has been named Executive Vice President and Chief Financial Officer. Prior to being named to his current position, Mr. Rosa served as Senior Vice President and CFO. Arnaud A.Y. Bobillier has been named Executive Vice President, Operations Integrity, responsible for driving continuous improvement companywide. Before being named to his current position, Mr. Bobillier served as Executive Vice President, Asset and Performance. Ihab Toma has been named Executive Vice President, Operations, responsible for global business and asset and performance. He has assumed the function of principal operating officer of the company. Before being named to his current position, Mr.
R. Thaddeus Vayda Rejoins Transocean Ltd.
Transocean Ltd. has named R. Thaddeus Vayda Vice President, Investor Relations, effective July 20, 2011. Based in Houston, he will report to Transocean Ltd. President and Chief Executive Officer Steven L. Newman. Vayda rejoins Transocean, where he served in various roles from 1995 to 2000 in Marketing, Engineering and Operations and as Director, Corporate Planning and Financial Analysis. From 2000 to 2011, Vayda worked in senior sell-side energy equity research analyst and industry expert roles, covering the energy and oilfield services and equipment industry, most recently for Stifel, Nicolaus & Company, First Albany Capital and RBC Capital Markets. Prior to 1995, Vayda served as Senior Analyst in the Fleet Planning Group of Northwest Airlines, Inc.
Transocean Ltd. to Present at Howard Weil Energy Conference
ZUG, SWITZERLAND, Mar 17, 2011 (MARKETWIRE via COMTEX) -- Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that Steven L. Newman, President and Chief Executive Officer of the company, will address attendees at the Howard Weil Energy Conference in New Orleans, LA. Mr. Newman is scheduled to present on Monday, March 28, 2011 at 9:15 a.m., CT. A copy of the presentation materials will be available on the company's web site prior to the start of the discussion on March 28, 2011 and will be accessible at www.deepwater.com.
Talbert, Toma & Bobillier Join Transocean Board
Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that the Board of Directors has named J. Michael Talbert as non-executive Vice Chairman of the Board, Arnaud A.Y. Bobillier as Executive Vice President, Asset and Performance, and Ihab Toma as Executive Vice President, Global Business, effective immediately. As non-executive Vice Chairman, Talbert is expected to succeed Robert E. Rose as Chairman of the Board of Directors when Rose retires at the end of his current director term at the company's 2011 Annual General Meeting of Shareholders. Bobillier will be responsible for the company's Engineering and Technical Support; Asset Management, Performance, Global Supply Chain and IT functions.
Transocean On Post-Explosion Treatment of Crew
On May 11, Transocean Ltd issued a statement in response to several reports that detail Transocean's (NYSE: RIG) (SIX: RIGN) treatment of crew members immediately following the April 20, 2010 explosion aboard the Deepwater Horizon, including erroneous allegations that crew members were asked to sign waivers. The company would like to clarify the series of events that transpired that evening and the days after the incident. -- U.S. Coast Guard, as on-scene incident command, not Transocean, in control of rescue vessel: All decisions aboard the rescue boat, the Damon Bankston, were made solely by the Coast Guard and all efforts to transport crew members from the rig to shore were coordinated by the Coast Guard according to standard maritime procedures.
Newman Transocean CEO in March
Transocean Ltd. (NYSE:RIG) announced the effective date for Steven L. Newman to become CEO is March 1, 2010. As previously announced, Newman will succeed Robert L. Long, who is retiring as CEO. In keeping with current corporate governance best practices, Long will also be resigning from the company's Board of Directors effective February 28, 2010. Newman will be included on the Annual General Meeting of Shareholders agenda in May as a candidate for election as a member of the Board of Directors. Newman has served as President and Chief Operating Officer since May 2008. He previously served in various senior management roles, including Executive Vice President of Performance…
Newman New CEO of Transocean
Transocean Ltd. (NYSE:RIG) announced that Robert L. Long will retire as Chief Executive Officer in the first quarter of 2010. The Board of Directors has named Steven L. Newman, currently President and Chief Operating Officer, to succeed Mr. Long upon his retirement as CEO. Commenting on Mr. Newman's appointment to the position of CEO, Long said, "Since joining the company in 1994, Steven has proven that he is a solid leader with a deep understanding of the offshore drilling business and a strong commitment to our shareholders, customers, employees, host countries and local communities.
Transocean Appoints New President, COO
Transocean Inc. has named Jean P. Cahuzac as president and Steven L. Newman as chief operating officer. Cahuzac, who previously served as executive vice president and chief operating officer of the company, will report to Robert L. Long. Long was president and CEO but will now continue as CEO and as a director of the company. Cahuzac joined a predecessor company of Transocean in 1979 and has held various international technical and senior management positions in the oil and gas industry during the past 27 years. Newman, who previously served as senior vice president of human resources and information process solutions, joined Transocean in 1994. Transocean also appointed David J. Mullen as senior vice president of marketing and planning and Robert "Rob" J.