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Jackup Drilling Rigs Information - Subsea Oil and Gas Directory Fundamentals Explained
from web site
The Hercules Offshore Jackup Rig - PetroRigs.com Statements
On January 30, 2017, we discovered from Offshore, Energy, Today the following: U.S.-based Dleif Drilling has rejected an offer made by Borr Drilling, formerly called Magni Drilling, for the sale of the drillship Serto. Dleif got the deal for the drillship in November 2016 from the then Magni Drilling.
The 6th generation deepwater drillship (2012) used to be owned by the Brazilian bankrupted, Schahin Group and was under long-term charter with the state-owned oil giant Petrobras. The drillship dealt with the Libra field together with Scahin's other drillship, Cerrado, which was bought at an auction by Ocean Rig in April 2016 for $65 million.
This is a significant news for Transocean, since the company will divest its entire non-core jack-up fleet, including its 5 jack-ups under-construction. The financial implications can run deep into RIG balance sheet and it is very important to examine this major move in information. For the ones who wish to refresh their memory, it is very important to read my post about the 4Q' 16.
Barge Rigs for Beginners
First, Transocean will become a "deepwater gamer" specifically, which will not impact substantially earnings. Related Source Here Operating Data for 2016 per Quarter. Section 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 Overall in$ million 974 906 943 1,341 As we can see, RIG 2016 incomes were $ 4,164 million and profits from HS jack-ups were $288 million( $526 million in 2015), representing. RIG ended 2016 with a money and money equivalent of $3. 052 billion and a long term financial obligation of $7. 5 billion (Overall debt$ 8. 546 billion ). Cap, Ex 2016 was $ 1. 344 billion. M. Marc Mey, CFO, stated in the last teleconference: Capital expenditures in 2017 are anticipated to be roughly$ 500 million. In 2018, we expect Cap, Ex of approximately$ 325 million. This includes approximately $100 million in
newbuild Cap, Ex and $245 million for upkeep and other Cap, Ex. Second, by monetizing its non-core Jack-up fleet, RIG will save a considerable amount of Cap, Ex in 2020-2021 and most likely a fair amount of headache also. 1 billion. The rigs are scheduled to be provided gradually from 1Q 2016 to 3Q 2017. Transocean already paid $290 million.
