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Monday, January 22, 2018

Ultra Deepwater News

Samsung Heavy to Build Ocean Rig UDW Drillship

Ocean Rig UDW Inc. sign contract for Samsung Heavy Industries to construct a 7th Generation Ultra Deepwater (UDW) Drillship. This 7th Generation drillship is a sister ship to the three currently under construction at Samsung, and is scheduled to be delivered to the company in January 2015. Ocean Rig Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra-deepwater and harsh-environment segment of the offshore drilling industry. The company owns and operates 10 offshore ultra deepwater drilling units…

Subsea Ultra-Deepwater Market Alliance

Technip and Heerema Marine Contractors sign a worldwide alliance agreement to share in offshore sector activities. The two companies intend to combine their capabilities to help their clients best address the fast growing subsea ultra-deepwater market. Ultra-deepwater projects are expected to be the fastest growing part of the subsea market over the next several years, developments expected to have significant challenges for clients. For example, ultra-deepwater infield pipelines are forecast to grow at a yearly pace more than 15% between 2012 and 2017. •    S-Lay and Reel-Lay assets of both companies, as needed. Technip and Heerema teams start to work together immediately to implement this exclusive agreement.

Transocean Puts Off Deliveries of Two New Drillships

GSF CR Luigs Ultra-Deepwater Drillship courtesy Transocean

Transocean Ltd. announced today a mutual agreement with its customer, Shell EP Wells Equipment Wells Services B.V. (Shell), and the shipyard, Daewoo Shipbuilding & Marine Engineering Co. (DSME), to delay the operating and delivery contracts of two newbuild ultra-deepwater drillships - the Deepwater Pontus and the Deepwater Poseidon - by 12 months each. The delay has no impact on the duration or dayrate of the original 10-year operating contracts for each of the two newbuild ultra-deepwater drillships. Parties will be compensated for the postponement. The specific terms are not disclosed.

Ocean Rig Charter Out 'Erik Raude'

Rig 'Erik Raude': Photo credit Ocean Rig

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, signs contract with an oil major for the semi-submersible drilling rig 'Erik Raude'. The drilling contract is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately US$112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the second quarter of 2013, in direct continuation from its previous contract in West Africa.

Ocean Rig UDW Commences Trading on NASDAQ

Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that its common shares are expected to commence “when issued” trading today on the Nasdaq Global Select Market under the ticker symbol “ORIGV”. The Company’s common shares are expected to commence “regular way” trading on the Nasdaq Global Select Market under the ticker symbol “ORIG” on October 6, 2011, the next trading day after the distribution date for the partial spin off of October 5, 2011. Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, and specializing in the ultra-deepwater and harsh-environment segment of the offshore drilling industry.

Ocean Rig Ultra-Deepwater Drillship Contract Confirmed

Ocean Rig Skyros: Photo DryShips

Greece's DryShips, says that its wholly-owned subsidiary, Ocean Rig UDW, has signed definitive documentation, following the previously announced contract award for the 6-year contract for drilling operations offshore Angola for its ultra deepwater drillship the 'Ocean Rig Skyros'. The contract is for drilling operations offshore Angola for Total E&P in its Angola Block 32, and is expected to commence in the third quarter of 2015 with an estimated backlog value of $1.3 billion. DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide.

Semi-submersible Rig 'Erik Raude' Contracted

Ocean Rig UDW Inc. has received a Letter of Intent to contract one of its semi-submersible drilling rigs, “Eirik Raude”, from an oil major. The Letter of Intent is for a one-well program, with an estimated duration of up to 6 months, for drilling offshore Ireland, with an estimated backlog of approximately $112 million, including mobilization and demobilization. The rig is scheduled to commence this contract in the first quarter of 2013, in direct continuation from its previous contract in West Africa. Ocean Rig is an international offshore drilling contractor providing oilfield services for offshore oil and gas exploration, development and production drilling, specializing in the ultra-deepwater and harsh-environment segment of the offshore drilling industry.

R&B Falcon Completes $270 Million Project Financing

Deepwater Drilling II L.L.C., a limited liability company owned by affiliates of R&B Falcon Corporation and Conoco, has concluded a $270 million project financing. The project financing proceeds will be used to finance the construction cost of ultra deepwater drillship, Deepwater Frontier, which was delivered from Samsung Shipyard in South Korea in March 1999. The 10,000-ft. water depth capable Frotnier has already drilled one well in New Zealand and is currently mobilizing to another location offshore West Africa. A Bank of America affiliate, BA Leasing & Capital Corporation, was the agent for the transaction. Paul B. Loyd, Jr., R&B Falcon's chairman and CEO…

Singapore Shipyard Contracted for Ultra-deepwater Drill Rig

Photo courtesy of Sembcorp Marine

Sembcorp Marine, Jurong Shipyard gets US$ 568-million contract for semi-submersible deepwater rig for North Atlantic Drilling Ltd. The new rig will be constructed based on the Moss Maritime CS60 design – an enhancement of the Moss Maritime CS50E MKII harsh-environment ultra-deepwater semi-submersible rigs West Pegasus and West Leo which were delivered by Jurong Shipyard to Seadrill in March 2011 and January 2012 respectively. Delivery is scheduled no later than the first quarter of 2015.

Ocean Rig UDW Inc. Announces Drilling Contract

Nicosia, Cyprus – Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has signed a new drilling contract for its semisubmersible drilling rig Eirik Raude with an independent operator, for work offshore West Africa. The expected total backlog to complete the two-well program is estimated at $ 67.5 million for a period of 84 days. The new contract is expected to commence after the rig completes its scheduled 10-year special survey. The customer has the option to extend the contract for one additional well for an estimated duration of approximately 40 days. Ocean Rig owns and operates nine offshore ultra deepwater drilling units…

Dryships to Raise Stockmarket Cash

Greece's DryShips Inc. is to offer the public 5-million of the common shares it holds in Ocean Rig UDW. Following the completion of the offering, DryShips is expected to own approximately 61.3% of Ocean Rig’s outstanding shares (Ocean Rig is a provider of offshore deepwater drilling services). Deutsche Bank Securities and Credit Suisse are acting as joint book-running managers for the offering. DryShips Inc. is an owner of drybulk carriers and tankers that operate worldwide. Through its majority owned subsidiary, Ocean Rig UDW Inc., DryShips owns and operates 10 offshore ultra deepwater drilling units, comprising of 2 ultra deepwater semisubmersible drilling rigs and 8 ultra deepwater drillships…

SHI to Build Eighth Drillship for Pacific Drilling

Pacific Drilling exercises contract option for Samsung Heavy Industries to construct another Ultra-Deepwater Drillship. The drillship will have a rated water depth of 12,000 feet, be equipped for 40,000 feet drilling depth, have accommodation for 200 personnel and be equipped to support dual gradient drilling. The total cost, excluding capitalized interest, will be approximately $620 million and delivery is scheduled for March 16, 2015. Financing for the construction of this rig is expected to be provided by a combination of cash flows from ongoing operations and long-term debt. “We are extremely pleased to announce the order of our eighth ultra-deepwater drillship,” stated Pacific Drilling CEO Chris Beckett.

Great Ship - Discoverer Enterprise

Discoverer Enterprise is known as the world's largest, most technologically advanced drillship designed for the reduction of ultra-deepwater well-construction costs with developments that elevate the process to a new level of operational efficiency. With more than 20 years of favorable deepwater experience behind them, Transocean's revolutionary drilling vessel has been engineered from the top of the derrick - to the thrusters - to optimize ultra-deepwater well-construction and field development performance. Transocean Offshore owns the vessel, which was constructed at El Ferrol, Spain. Supplementary to this is Ingalls Shipbuilding's test and trials contract with BP-Amoco Corporation. The Pascagoula-based shipyard completed the rigs outfitting and erected all of its major modules.

Atwood Oceanics Orders Third Ultra-Deepwater Drillship

'Atwood Advantage': Photo credit Atwood Oceanics

The Atwood Admiral is expected to be delivered by March 31, 2015 at a total cost, including two blowout preventers ("BOPs"), project management, drilling and handling tools and spares, of approximately $635 million. The design of the Atwood Admiral will be identical to the previously ordered Atwood Advantage and Atwood Achiever – all three are DP-3 dynamically-positioned, dual derrick ultra-deepwater drillships rated to operate in water depths up to 12,000 feet and drill to a depth of up to 40,000 feet.

Dryships Option to Contruct Four UDW Drillships

DryShips Inc. (NASDAQ: DRYS) a global provider of marine transportation services for drybulk cargoes and off-shore contract drilling oil services, announced today that it has entered into an agreement with a major South Korean shipyard, for the option to construct up to four ultra deepwater drillships. The new orders would be sisterships of the drillships under construction with further upgrades to the specification. Each of the four options can be declared within twelve months of this agreement, with deliveries ranging from 2013 until 2014. The total project cost is estimated to be about $600m per drillship. The agreement includes a non-refundable slot reservation fee of $24.8m per drillship that will be applied to the drillship contract price if the options are exercised.

DryShips Takes Delivery of First Newbuilding Drillship

DryShips Inc. (NASDAQ: DRYS) announced that its 78% owned subsidiary Ocean Rig UDW Inc. took delivery of its newbuilding drillship, the Ocean Rig Corcovado. The Ocean Rig Corcovado is the first to be delivered of the four sister drillship vessels that are being constructed at Samsung Heavy Industries. The construction of all vessels is progressing well and according to schedule. The vessels are sixth generation advanced capability ultra-deep water drillships, each with a drilling capability of 10,000 feet. The naming ceremony of the first two vessels, Ocean Rig Corcovado and Ocean Rig Olympia, was held in December 2010, at Samsung shipyard.

DryShips to Resume Market Common Share Offering

Image courtesy of DryShips

Greece's NASDAQ-listed DryShips Inc. says it intends to resume sales under its previously announced $200 million program of 'at the market issuances' of its common shares through Evercore Group L.L.C. as its sales agent. To date, the Company has issued 6,892,233 common shares under the program resulting in gross proceeds of $24.1 million. DryShips adds that a prospectus supplement related to the offering has been filed with the Securities and Exchange Commission. DryShips owns a fleet of 42 drybulk carriers (including newbuildings)…

DryShips to Make US$500-Million Notes Offering

Greece's DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc., informs that it intends to offer $500 million in aggregate principal amount of senior notes due 2019 in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to certain other persons outside of the United States in reliance on Regulation S under the Securities Act. Ocean Rig says it intends to use the net proceeds from the offering of the Notes, together with other available funds, to fund the repurchase or redemption of its 9.5% Senior Unsecured Notes due 2016, for which it is conducting a concurrent tender offer, and to pay related fees and expenses. DryShips Inc.

Ultra-deepwater Drillship Arrives Brazil From Korea

QGOG Constellation announces the arrival in Brazil waters of the ultra-deepwater drillship, 'Amaralina Star'. 'Amaralina Star' is to be operated by its subsidiary, Queiroz Galvão Óleo e Gás (QGOG). The unit was built to operate in ultra-deepwaters to water depths of up to 10,000 feet and to drill wells depths of up to 40,000 feet. It will be able to operate in the Brazilian pre-salt area. The Amaralina Star was built by the Samsung Heavy Industries shipyard, in South Korea. The shipyard is also currently building the Laguna Star drillship, which belongs to QGOG Constellation and will be operated by QGOG. The two units have been chartered to Petrobras under a six-year contract, with options to renew for six additional years. Drilling services will be provided by QGOG.

Korean Yard to Build Fourth Atwood Ultra-deepwater Drillship

Atwood Deepwater Drillship: Photo courtesy of Atwood Oceanics

An Atwood Oceanics subsidiary has entered into a turnkey construction contract with Daewoo Shipbuilding & Marine Engineering to construct a fourth ultra-deepwater drillship, to be named 'Atwood Archer'. The Atwood Archer is expected to be delivered by December31, 2015 at a total cost, including two blowout preventers , project management, drilling and handling tools and spares, of approximately $635-million. Upon delivery, the new rig will become the seventeenth mobile offshore drilling unit owned by the Company.

Pacific Drilling Extends Utra-Deepwater Drillship Option

Pacific Drilling S.A. agrees with Samsung Heavy Industries to extend an option to construct an eighth ultra-deepwater drillship. The contractual option has been extended until January 18, 2013, on the same commercial terms, including delivery scheduled for the first quarter of 2015. Pacific Drilling says it is a fast growing company that is committed to becoming the industry’s preferred ultra-deepwater drilling contractor. Their fleet of seven ultra-deepwater drillships will represent one of the youngest and most technologically advanced fleets in the world. The company currently operates four recently delivered drillships under customer contract and has three drillships under construction at Samsung, two of which are under customer contract.

Coflexip Stena Signs Contract With Hyundai Mipo

Coflexip Stena Offshore came to an agreement with Hyundai Mipo Dockyard for the construction of its newbuild ultra deepwater pipelay and construction vessel, scheduled to begin operations in the second quarter 2001. The future multipurpose vessel, which will be named later on, is designed for subsea construction and for laying rigid and flexible pipe and umbilicals down to 2,500 m. The newbuild will offer a wide range of capabilities covering subsea construction and installation in any deep and ultra deepwater fields in West Africa, the Gulf of Mexico and Brazil.

Pacific Drilling Releases Fleet Status Report & Revenue Guidance

Image courtesy of Pacific Drilling

Pacific Drilling says that the latest in its fleet of 5 of new ultra-deepwater drillships is in service. Two additional drillships are under construction at Samsung Heavy Industries for delivery in 2014, and an eighth rig is under construction for delivery in March 2015. Pacific Drilling is a fast growing company that says it is committed to becoming the industry’s preferred ultra-deepwater drilling contractor.

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

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