Transocean Inc. announced that a five-year contract has been executed with a client for a previously announced ultra-deepwater newbuild drillship equipped for drilling in up to 10,000 feet of water depth, upgradable to 12,000 feet of water depth with additional equipment, and constructing wells up to 40,000 feet total depth. The rig is listed in [...]
Northern Offshore, Ltd. announced that it has entered into a drilling contract with AGR Peak Well Management Limited, a subsidiary of AGR Group ASA (Oslo Bors: AGR.OL) for the use of the semisubmersible GSF Arctic II in the North Sea. As previously announced, Northern Offshore has entered into an agreement with an affiliate of Transocean, [...]
As announced on July 28, 2008, Northern Offshore, Ltd. has entered into agreements with affiliates of Transocean Inc. to acquire the semisubmersible drilling rigs GSF Arctic II and GSF Arctic IV.
The Company prepared an Information Memorandum in connection with the acquisition of the Rigs, as required by Section 3-5 of the Oslo Stock Exchange’s rules [...]
Transocean Inc has published reporting that the company announced that certain of its subsidiaries have entered into agreements to sell the GSF Arctic II and GSF Arctic IV semisubmersible rigs to Northern Offshore, Ltd. for total proceeds of approximately $750 million. The divestitures will complete Transocean’s previously announced undertakings to the Office of Fair Trading [...]
Northern Offshore, Ltd told the press that the company has entered into agreements with affiliates of Transocean, Inc. (NYSE: RIG ) to acquire the semisubmersible drilling rigs GSF Arctic II and GSF Arctic IV currently operating in the U.K. North Sea (collectively the “Rigs”). The total acquisition price for the two rigs is approximately US$750 [...]
Northern Offshore Ltd told the press that the company entered into a $750 million deal with affiliates of Transocean Inc. to buy a pair of semisubmersible drilling rigs in the North Sea.
Under the deal, which is expected to close in the second half of 2008, GSF Arctic II and GSF Arctic IV will be owned [...]
Transocean Inc. issued an updated fleet status report covering the company’s 137-unit offshore drilling fleet.
Drilling rig status and contract information on the company’s offshore drilling fleet has been condensed into a report titled “Transocean Fleet Status Report,” which is available through the company’s Worldwide Web address at http://www.deepwater.com. The report can be accessed from the [...]
Transocean Inc. today announced that its deepwater moored semisubmersible Transocean Marianas, capable of drilling in water depths up to 7,000 feet, has been awarded a two-year contract by a subsidiary of Eni. The contract is scheduled to commence in December 2009 following completion of the rig’s existing contract commitments in the U.S. Gulf of Mexico.
Estimated [...]
Goldman Sachs upgraded the oilfield services sector to “Attractive” from “Neutral,” predicting strong profit growth due to greater drilling activity and high oil prices.
Analyst Charles Minervino expects earnings to grow in the double digits through 2011 as high oil prices lead to more rapid rig construction, and both drilling activity and the rates oil companies [...]
Major oil companies “have their backs against the wall” when it comes to getting offshore drilling contracts, according to Dahlman Rose & Co. managing director Omar Nokta.
Nokta says Brazil’s national oil company, Petrobras, has aggressively locked up a significant amount of rig capacity. As a result, dayrates have been pushed to record levels.
“We expect the [...]
