COLUMN - Do it yourself: oil companies buy rigs and boats in bargain  basement (except Energean) [Offshore Accounts] - Baird Maritime

Houston Co-Headquartered Drilling Co Bolsters ADES Ties - Truths

On January 30, 2017, we discovered from Offshore, Energy, Today the following: U.S.-based Dleif Drilling has declined an offer made by Borr Drilling, previously understood as Magni Drilling, for the sale of the drillship Serto. Dleif received the offer for the drillship in November 2016 from the then Magni Drilling.

SpaceX bought former Valaris oil rigs to build Starship launchpads

The sixth generation deepwater drillship (2012) used to be owned by the Brazilian bankrupted, Schahin Group and was under long-lasting charter with the state-owned oil giant Petrobras. The drillship worked on the Libra field together with Scahin's other drillship, Cerrado, which was purchased an auction by Ocean Rig in April 2016 for $65 million.

This is a considerable news for Transocean, due to the fact that the company will divest its whole non-core jack-up fleet, including its five jack-ups under-construction. The monetary ramifications can run deep into RIG balance sheet and it is essential to analyze this significant move in information. For the ones who wish to revitalize their memory, it is very important to read my article about the 4Q' 16.

Cosco delivers abandoned jack-up rig for drilling work offshore China -  Upstream Online

The Main Principles Of Noble Corporation Completes Sale Of Four Jackups In Saudi

First, Transocean will become a "deepwater gamer" specifically, which will not affect significantly profits. Fleet Operating Data for 2016 per Quarter.  Oil Rigs Now Houston  4Q '16 $ million 3Q '16 $ million 2Q '16 $ million 1Q '16 $ million UDW 560 583 556 621 HE Floaters 100 103 100 181 Deepwater 35 43 51 85 Midwater 30 87 133 138 HS JU 66 66 74 82 Termination charge 169 9 9 4 Contract intangible 2 4 4 209 Client Reimbursable 12 11 16 21 Total in$ million 974 906 943 1,341 As we can see, RIG 2016 earnings were $ 4,164 million and incomes from HS jack-ups were $288 million( $526 million in 2015), representing. RIG ended 2016 with a cash and money equivalent of $3. 052 billion and a long term financial obligation of $7. 5 billion (Overall financial obligation$ 8. 546 billion ). Cap, Ex 2016 was $ 1. 344 billion. M. Marc Mey, CFO, said in the last conference call: Capital expenditures in 2017 are anticipated to be roughly$ 500 million. In 2018, we anticipate Cap, Ex of approximately$ 325 million. This includes approximately $100 million in
newbuild Cap, Ex and $245 million for maintenance and other Cap, Ex. Second, by monetizing its non-core Jack-up fleet, RIG will conserve a substantial quantity of Cap, Ex in 2020-2021 and probably a reasonable amount of headache also. 1 billion. The rigs are arranged to be provided progressively from 1Q 2016 to 3Q 2017. Transocean already paid $290 million.