Seadrill announces favourable first quarter 2013 financial results. Highlights • Seadrill records its best operating quarterly result ever and generates first quarter 2013 EBITDA*) of US$713 million • First quarter 2013 net income of US$440 million and earnings per share of US$0.87 • Increases the ordinary quarterly cash dividend by 3 cents to US$0.88 • Economic utilization for floaters increased to 92% in Q1 2013 from 86% in Q4 2012 • Economic utilization for the jack-up fleet in Q1 2013 was 99%, up from 94% in Q4 2012 • Seadrill ordered four jack-ups for a total estimated project price of US$230 million per rig, with deliveries in 2015 • Completed the acquisition of the ultra-deepwater semi-submersible rig Songa Eclipse for a total consideration of US$590 million • Secured a 2-year extension for the ultra-deepwater semi-submersible rig West Leo with a total estimated revenue potential of US$430 million • Completed the sale of the jack-up rig West Janus for US$73 million recording a gain on sale of US$61 million
Keppel FELS Limited has entered into a cooperation agreement with Smedvig Asia Limited (Smedvig Asia) to build a Semisubmersible Drilling Tender (SSDT) with Keppel Offshore & Marine’s proprietary design. Developed by the Deepwater Technology Group (DTG), the KFELS SSDT3600-GOM-C42 will be the fourth vessel in the series of successful SSDTs that have been gainfully deployed in this region. Valued at $94 million, Keppel FELS and Smedvig Asia will own and operate the ultra deepwater semi
Two oil and gas players, SapuraCrest Petroleum Bhd and Ramunia Holdings Bhd, announced major contracts related to the industry worth $120 million and $24 million respectively. SapuraCrest said its 51%-owned unit Tioman Drilling Co Sdn Bhd had been awarded a contract from Carigali-Triton Operating Co Sdn Bhd (CTOC) for the provision of two drilling units– Teknik Berkat and a new mobile drilling vessel, known as T-10 – to CTOC.
Unocal Thailand Ltd. has issued a letter of intent to Smedvig Asia Ltd. for the assignment of the self-erecting tender rig T-4. The production drilling assignment has a duration of five years, and the contract value is estimated at approximately $73 million. The contract includes an incentive arrangement that could increase the contract value. The proposed contract includes early termination provisions after three years against payment of an early termination fee.
Seadrill - North Atlantic Drilling Ltd. announces extension of Statoil contract for the harsh environment jack-up rig 'West Epsilon'. North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announce that Statoil has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is US$215 million.
In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter. Seadrill explains that the decrease in operating profit is a result of higher operating expenses due to new rigs entering the fleet and higher general and administrative expenses due to the consolidation of Sevan Drilling.
Schlumberger Limited and Transocean Offshore Inc. have signed a definitive merger agreement under which the offshore contract drilling business of Schlumberger (Sedco Forex Offshore) will be spun off and promptly combined with Transocean Offshore in a merger of equals. The resulting company, Transocean Sedco Forex, will be the world's largest offshore drilling company and is projected to become the fourth largest oilfield service company in terms of market capitalization
Smedvig reported consolidated operating profit of NOK 161 million for the first quarter as compared to NOK 226 million in the previous quarter. The decrease is primarily attributable to lower utilization of the mobile units. Net financial expenses for the first quarter was NOK 9 million as compared to NOK 68 million in the previous quarter. Net income for the first quarter was NOK 129 million as compared to NOK 144 million in the previous quarter.
StatoilHydro is terminating its procurement process for rig hire for operations on the Norwegian continental shelf due to high rig rates. ”We focus on reducing costs and making strict priorities,” says Anders Opedal, head of procurements in StatoilHydro. The invitation to submit tenders for rig hire was distributed during the summer of 2008, and covered both semi-submersible mobile rigs and jack-up drilling rigs with contract start at the end of 2012.
COSCO (Guangdong) Shipyard Co. contracted by Energy Drilling Pte Ltd to construct a semi submersible tender assist rig. The contract is valued at over US$ 200-million, with an option for a second tender. The turn-key contract includes the supply of the DES (Derrick Equipment Set) and the delivery is set for June 2015. The rig is a GustoMSC Ocean400 TD design equipped to work alongside specialized deepwater trussed spars, tension leg platforms
Keppel FELS Limited (Keppel FELS) celebrated the naming of their third consecutive accommodation semisubmersible (semi) rig built for Floatel International Ltd (Floatel). The rig will be delivered more than four months ahead of schedule and within budget.
Kvichak Marine Industries, Inc. was recently awarded a contract by Norton Sound Economic Development Corporation (NSEDC) to build an all-aluminum 66’ Shallow Draft Tender to be used for multiple fisheries in and around Norton Sound, Ak.
Hercules Offshore, Inc. published the November Fleet Status Report. The report includes the Hercules Offshore Rig Fleet Status (as of November 21, 2013), which contains detailed contract information for each of the company's drilling rigs
With 3.4 million square nautical miles of U.S. waters to survey and chart, Coast Survey is up against some big challenges in keeping nautical charts current, consequently NOAA joins hands with the US Coast Guard to provide the best possible safety service to shipping.
Rolls-Royce has signed a contract to supply thrusters and deck machinery for two semi-submersible drilling rigs to be built at Samsung Heavy Industries in Korea for Stena Drilling. Rolls-Royce reported the value of the contract to be around £22.5 million.
Navios Maritime Acquisition Corporation announced that the company and Navios Acquisition Finance (U.S.) Inc., its wholly owned finance subsidiary, intend to offer through a private placement, subject to market and other conditions, approximately $600 million of first priority ship mortgage
The crew of the Coast Guard Cutter 'Smilax' worked with personnel from the North Carolina Department of Cultural Resources to recover 5 cannons and multiple barrel hoops from the 'Queen Anne's Revenge' in Beaufort Inlet, N.C. The Queen Anne's Revenge was the ship of the pirate Edward Teach
DryShips Inc. (NASDAQ:DRYS) provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore deepwater drilling services, announce the results of its 2013 Annual General Meeting of Shareholders.
International contractor of offshore deepwater drilling services, Ocean Rig, announce its unaudited financial and operating results for the third quarter ended September 30, 2013, reporting a net loss of $21.5 million, or $0.16 basic and diluted loss per share
Aker Solutions ASA publish their third-quarter results 2013 showing a fairly even performance in the group's sectors, but in subsea widening its profit margin to 10.9 percent from 8.7 percent a year earlier. Financial Highlights Sales were NOK 10
Delta Rigging & Tools recently held a groundbreaking ceremony to celebrate the start of construction on a 27,000-square-foot multipurpose building located on 3.7 acres of land in Pasadena, Texas. Representatives from Capital Commercial Investments, Tomorrow Planning
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
In a recent ceremony Predrag Berlafa, 'Maersk Completer' Rig Manager, was pleasantly surprised to receive Shell’s international 'Jack-up of the Year' award for the second time in a row. Maersk Completer’s award was achieved despite having to provide personnel for Maersk
Lion Containers Ltd. announced that it has joined Achilles FPAL, the supplier management community supporting the European oil and gas industry. Achilles FPAL is a community used by major buying organizations within the oil and gas sector
Chinese shipyards, which are subsidiaries of the Company’s 51% owned subsidiary COSCO (Singapore) Shipyard Group Ltd, have secured contracts to build two jackup drilling rigs and a bulk carrier as follows: 1. COSCO (Dalian) Shipyard Co