Former CIA Spy Ship Becomes Victim of Oil Slump
disaster in U.S. history, condemned the GSF Explorer in April. Altogether, the company is scrapping some 20 vessels, shelving deliveries of new ultra-deepwater drillships, forecasting $2 billion in writedowns and cancelling its interim dividend. Houston's Diamond Offshore and London's Noble Corp have also consigned about a dozen ships to scrap since last year. "We've seen the largest number of floaters being scrapped over two consecutive years," said Rystad Energy analyst Joachim Bjorni in Norway. But no "floater" destined for the world's scrap yards
Diamond Offshore Revenue Rises on Ultra-deepwater Demand
a 13 percent rise in revenue on average. "Diamond Offshore have been taking delivery of new assets ... the rigs that were ordered few years ago are starting to be delivered, so it's driving revenue higher in the near term," ISI Group analyst James West said. Offshore drillers such as Noble Corp, Transocean Ltd and Ensco Plc are taking a hit because their customers are moving away from expensive offshore production. Hercules Offshore Inc reported a 1.5 percent drop in its third-quarter revenue on Wednesday due to softened drilling activities and lower rigs utilization. Offshore drillers
Justice Dept to Consider Shell Arctic Rig Shortcomings
Coast Guard found 16 violations on the Noble Discoverer, one of Shell’s two drilling rigs for Alaska’s Arctic waters. The company’s other rig, the Kulluk, has its own troubles, reports the Anchorage Daily News. The Noble Discoverer is a converted log carrier owned and operated by Noble Corp. for Shell’s Arctic efforts. The 514-foot-long rig was built in 1966 and converted into a drilling ship 10 years later. It has been upgraded and refurbished to work in the Arctic at a cost of $193 million. The vessel dragged its anchor and nearly grounded in Dutch Harbor, Alaska, before the
February 2024
