Offshore Rig Firms See End to Historic Downturn
rigs may need to be scrapped before day rates improve. M&A Eying a market upturn, some executives are now busy seeking mergers and acquisitions. London-based Ensco's shareholders will vote on Thursday on whether to approve the board's proposal to buy smaller rival Atwood Oceanics. Some shareholders have questioned the timing and the value of the deal, but the management has defended it. "We believe the offshore drilling sector is entering a recovery phase following an extended downturn ...," Ensco's Chief Executive Carl Trowell told investors
Atwood Delays Drillship duo by Two Years
Atwood Oceanics, Inc. announced today that it has agreed with Daewoo Shipbuilding & Marine Engineering Co. ("DSME") to delay the requirement to take delivery of Atwood's two newbuild ultra-deepwater drillships, the Atwood Admiral and the Atwood Archer, by two years to September 30, 2019 and June 30, 2020, respectively. In connection with the delay, Atwood will make a payment of $125 million for the Atwood Archer on or before December 15, 2016, as well as a payment of $15 million on the earlier of June 30, 2018 or the delivery date. In respect of the Atwood Admiral, Atwood will
18 O&G Leaders Appointed to NOIA Board
Bill Flores, Senior Vice President Engineering, Houston Energy, LP Lynne Hackedorn, Vice President Government and Public Affairs, Cobalt International Energy Richard Lunam, Vice President Exploration and Production, North America, ConocoPhillips Rob Saltiel, President and CEO, Atwood Oceanics, Inc. Richard Williams, Global Business Line Manager, Construction Support, Fugro
DSME Wins New Drillship Order
DSME signed a contract with Atwood Oceanics, a U.S.-based ocean drilling company, for the construction of one drillship. This is the option of last year’s contract with a value of approximately $570 million and it will be delivered at the end of 2015. DSME and Atwood Oceanics also agreed in principle to an additional drillship contract. The newly ordered drillship is a DSME-12000 type drillship which was developed using DSME’s own technology. It is able to drill down to a maximum of 12km in water up 3,600m in depth and will possess dual derricks so pipe assembly work and drilling
Atwood Gets Jack-up Rig Contract Extension
An Atwood Oceanics, Inc. subsidiary awarded year's contract extension by Salamander Energy for the jackup 'Atwood Mako'. The extension is priced at a day rate of $155,000 and begins September 9, 2013. The Atwood Mako commenced its initial twelve month drilling services contract with Salamander on September 9, 2012 for operations offshore Thailand. With the extension, the Atwood Mako's firm commitment extends through September 9, 2014. Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells.
February 2024
