|Rigg med lysende fremtidsutsikter!
|Oslo (TDN Finans): Baker Hughes International Rig Count steg med 38 enheter
til 1.102 rigger i juni sammenlignet med mai. Offshore var det 321 rigger i
operasjon, opp 16 enheter fra forrige måned.
Det skriver Baker Hughes i en pressemelding tirsdag.
Baker Hughes International Rotary Rig Count er en månedlig opptelling av
antall rigger som aktivt er med i lete- eller produksjonsboring etter olje
eller gass. Rigger i Nord-Amerika, Russland og Kina er ikke med i
Det høyeste antallet i International Rig Count siden 1975 ble notert i
november 1982, da 1.509 rigger var aktive.
I Europa var det 97 aktive rigger i juni, mens det i Nord-Amerika var 1.981
aktive rigger totalt, hvorav 81 offshore og 1.900 på land.
INTERNATIONAL ROTARY RIG COUNT
Europa Midtøsten Afrika Latin-Am. Asia Pac. Totalt
L O L O L O L O L O L O
Juni 45 52 244 33 50 15 309 89 133 132 781 321
Mai 47 54 247 31 52 14 282 85 142 121 770 305
Apr 46 47 244 35 55 18 294 86 138 111 777 297
Mar 48 52 238 31 52 18 302 78 129 106 769 285
Feb 46 35 243 29 42 16 299 74 127 121 757 275
Jan 48 45 241 34 52 16 291 74 130 122 762 291
Des 31 46 235 39 58 16 294 76 127 114 745 291
Nov 34 37 235 30 51 18 271 69 129 118 720 272
Okt 32 50 235 33 54 15 289 66 128 122 738 286
Sep 31 46 339 34 57 16 291 72 129 117 747 285
Aug 26 56 234 36 55 13 285 63 129 112 729 280
Jul 25 54 238 37 46 14 285 75 128 116 722 296
Jun 25 41 235 48 48 17 293 73 129 120 730 285
Mai 28 60 237 31 44 16 277 73 125 116 711 296
Apr 24 63 220 28 49 11 283 66 114 126 690 294
Mar 28 49 230 30 51 14 291 74 111 116 711 283
Feb 27 47 223 29 52 12 276 84 117 114 695 286
Jan 26 48 235 28 52 17 265 70 118 113 696 276
Des 26 39 226 29 47 20 260 69 121 114 680 271
Nov 29 36 229 30 51 18 250 68 120 108 679 264
Okt 28 52 230 27 50 18 265 65 118 112 691 274
Sept 28 48 226 27 47 17 268 64 116 108 685 264
Aug 25 56 226 30 45 18 265 61 115 113 676 278
US ROTARY RIG COUNT
L O L O
Mai 1.795 68 135 0
Apr 1.765 64 105 1
Mar 1.737 60 407 1
Feb 1.709 56 619 1
Jan 1.690 59 492 2
Des 1.749 62 358 2
Nov 1.737 61 369 3
Okt 1.713 49 335 3
Sep 1.718 65 348 3
Aug 1.731 73 341 2
Jul 1.699 78 347 2
Jun 1.692 79 208 2
Mai 1.671 77 105 2
Apr 1.676 75 97 4
Mar 1.668 81 390 2
Feb 1.651 85 633 2
Jan 1.630 84 564 4
Baker Hughes riggstatistikk skiller seg fra andre, ved at den kun teller
med den tiden riggene er i arbeid. Normalt er dette 50 til 75 prosent av
tiden en rigg er under kontrakt. Den tiden riggen utfører mobilisering,
opp-rigging, produksjonstesting eller vedlikehold/workover, tas ikke med.
Statistikken gir et bedre bilde av antall rigger som er ledige for arbeid i
og med at den skiller mellom aktive rigger og rigger på kontrakt. I tillegg
er den et bedre barometer for oljeservice-tjenester.
22 00 11 55
|Underskudd på rigger til 2016......? Fra dagens papir-DN:
Siden 2004 har norske og norskkontrollerte selskaper bestilt nye borerigger for vel 130 milliarder kroner. Nå kan borefartøyene leies ut til skyhøye rater eller selges med solid fortjeneste.
TIDLIG UTE. Bjarne Skeie var en av de første som inngikk kontrakter om bygging av nye oppjekkbare borerigger i Singapore, som her fra KFELS-verftet.
Norske investorer og selskaper har ledet an i byggeboomen for offshore borerigger. Siden årsskiftet 2003/2004 er det bestilt 81 borefartøyer i regi av norske og norskkontrollerte selskaper, de aller fleste uten at det forelå noen avtale om beskjeftigelsen etter levering.
Nå skriker verden etter olje og dagratene for rigger som benyttes til lete- og produksjonsboring har gått i været. Dermed er den spekulative kontraheringsbølgen blitt svært god butikk for mange av dem som var tidlig ute og våget å satse på nybygg beregnet på bruk på store vanndyp.
Ristet på hodet
Amerikanske boreentreprenører ristet på hodet da Bjarne Skeie, søstrene Marianne og Helene Odfjell og Alex Wilhelmsen som de første inngikk kontrakter om bygging av nye oppjekkbare borerigger i Singapore.
Eastern Drilling i kompaniskap med daværende Smedvig og John Fredriksen var først ute med å bestille nye halvt nedsenkbare dypvannsborerigger.
De store børsnoterte boreselskapene i USA ville ikke bygge på spekulasjon og ble lenge sittende på gjerdet. I mellomtiden økte byggeprisene kraftig. En jack-up-rigg av den typen Bjarne Skeie bestilte for Sinvest i 2004 kostet den gangen 110-120 millioner dollar. I dag må man betale bortimot det dobbelte for en tilsvarende enhet. Og dagratene har steget kraftig.
Store halvt nedsenkbare rigger oppnår i dag rater på over 600.000 dollar dagen for lange kontrakter, en tredobling i forhold til inntjeningsnivået i 2004/2005.
John Fredriksens Seadrill, som ble etablert av Frontline-rederens nærmeste medarbeider, Tor Olav Trøim, på et hotellrom i Praha i 2005, har vokst til å bli en av de største boreentreprenørene i verden. Dette har skjedd gjennom en serie oppkjøp og bestillinger av mange nye rigger som nå leveres som perler på en snor fra verft i Korea og Singapore.
Gjennom overtagelsen av Smedvig i Stavanger sikret Fredriksen seg en etablert driftsorganisasjon og en flåte av igangværende rigger. I handlekurven til Seadrill ligger også det første Odfjell Invest-selskapet, Mosvold Drilling og Eastern Drilling.
Seadrill står alene for en fjerdedel av de norske og norskkontrollerte riggkontraheringene med sitt samlede investeringsprogram på 20 borefartøyer; ni oppjekkbare rigger, åtte halvt nedsenkbare rigger og tre boreskip.
Nest størst på nybyggingssiden er Awilhelmsen-konsernets børsnoterte boreselskap Awilco Offshore med sitt program på åtte oppjekkbare og tre halvt nedsenkbare borerigger. Flere av jack-up-riggene er levert og arbeider på gode kontrakter.
En av verdens fremste rigganalytikere, ODS-Petrodatas Gavin Strachan, har flere ganger rost de norske selskapene for timingen av nybyggingsordrene.
På et seminar i regi av Marine Money i Oslo ifjor takket Strachan norske riggselskaper for å ha hindret krise i riggmarkedet.
- Gratulerer, dere gjorde det riktig denne gangen, sa Strachan og viste til de mange nybyggingskontraktene.
- Jeg hater å måtte si det, men nei, jeg ser ingen mørke skyer på rigghimmelen, sa Strachan på vårens Marine Money-konferanse.
Da spådde han underskudd på rigger frem til 2016.
|Fra dagens papir-DN:
Bedre og bedre
En ny rekordkontrakt viser at markedet for dypvannsrigger er sterkere enn noensinne.
Etter børsfallet tirsdag steg kursene både i Oslo og på resten av de europeiske børsene igår. Negativ åpning i USA i kjølvannet av nye bekymringer rundt bankene, tyder imidlertid på at dette nedgangsmarkedet ikke er over ennå.
Den viktigste grunnen til det er at investorer frykter en «earnings recession» - negativ vekst i selskapenes overskudd, som følge av at utsiktene for den globale veksten har blitt mye dårligere på relativt kort tid.
De usikre utsiktene ser ut til å ha stilnet investorenes appetitt på aksjer i sin alminnelighet, også i bransjer hvor det er få tegn til stagnerende vekst. Riggsektoren er et utmerket eksempel i så måte.
Selv om riggselskapene har gjort det relativt mye bedre enn markedet generelt den siste tiden, har sektoren internasjonalt likevel falt med rundt tre prosent den siste måneden, ifølge meglerhuset Kaupthing. Det til tross for at oljeprisen har gått i taket, og at de siste kontraktene som er inngått indikerer at markedet har strammet seg ytterligere til.
Spesielt viser det seg at oljeselskapene er villig til å strekke seg langt for å få tak i rigger som er istand til å operere på såkalte ultradype havområder, det vil si fra 7500 fot og oppover.
Igår inngikk oljeselskapet ENI en kontrakt med det amerikanske riggselskapet Transocean, som illustrerer hvor desperate oljeselskapene er i ferd med å bli. ENI betaler Transocean 1,2 milliarder dollar for å leie «Transocean Pathfinder» i fem år. Det tilsvarer en dagrate på 652.000 dollar per dag, ifølge analytiker Morten Nystrøm i meglerhuset Kaupthing.
Hvor god denne raten er, kan illustreres med følgende regnestykke: La oss si at driftskostnadene utgjør 150.000 dollar per dag. Med en utnyttelsesgrad på 95 prosent, gir dette et årlig driftsresultat før avskrivninger på i overkant av 173 millioner dollar.
Hvor mye det koster så å bygge en ny dypvannsrigg? Det avhenger selvsagt av kapasitet og utrustning. De siste riggene som er kontrahert av norske selskaper, Seadrill og Petrolia Drilling, har for eksempel en byggepris på 640 millioner dollar. Dersom en regner med en nypris på 750 millioner dollar, skulle en få en topp moderne rigg, som også kan bore i værharde områder.
Med denne prisen vil en rate på 652.000 dollar betale ned en ny rigg på drøye fire år. Når vi vet at levetiden er 30-40 år og kanskje enda lenger, forteller det mye om hvor gode tider det er for riggeiere. Spørsmålet er om toppen nå er nådd. Nei, mener Nystrøm. Og han er ikke alene. Flere bransjeeksperter har spådd at ratene for dypvannsrigger om ikke lenge vil passere 700.000 dollar.
Den viktigste grunnen er at tilgangen på slike rigger er begrenset, for å si det mildt. I 2009 finnes det ingen ledige dypvannsrigger, og ifølge Kaupthing er det kun 13 rigger ledig i 2010. Ni av disse er under bygging, og fire vil ikke bli levert før mot slutten av året. For alle praktiske formål er det dermed ikke ledig kapasitet å snakke om før i 2011.
Samtidig har den høye oljeprisen lokket stadig flere oljeselskaper ut på dypt vann, bokstavelig talt.
Rigganalytiker Gavin Strachan i ODS Petrodata har tidligere sagt at han mener det vil være underskudd på dypvannsrigger helt frem til 2016.
Er det noe som ligner på en naturlov innen økonomi, så er det at gode tider i sykliske bransjer alltid tar slutt på grunn av overkapasitet. Men det ser virkelig ut som om det vil ta ganske lang tid denne gangen.
vi merker oss: ingen ledige dypvannsrigger å snakke om før i 2011...
Den viktigste grunnen er at tilgangen på slike rigger er begrenset, for å si det mildt. I 2009 finnes det ingen ledige dypvannsrigger, og ifølge Kaupthing er det kun 13 rigger ledig i 2010. Ni av disse er under bygging, og fire vil ikke bli levert før mot slutten av året. For alle praktiske formål er det dermed ikke ledig kapasitet å snakke om før i 2011.
Samtidig har den høye oljeprisen lokket stadig flere oljeselskaper ut på dypt vann, bokstavelig talt.
Rigganalytiker Gavin Strachan i ODS Petrodata har tidligere sagt at han mener det vil være underskudd på dypvannsrigger helt frem til 2016.
[Endret 10.07.08 21:25 av Verbier]
[Endret 10.07.08 21:26 av Verbier]
|Den beste veien å spille på det Verbier sier er: Seadrill og Transocean (Ticker RIG på NYSE)
Disse to er langt foran de fleste peers på dyptvann og Seadrill med JF / Trøim har en outstanding record. Jeg mener at Seadrill virker som en god investering og er heller ikke direkte dyr på multipler selv om NAV ligger omkring 110 og P/E på 10 for 2009. Dette vil være en gigantisk cash maskin!
|Fra International Herald Tribune:
A RALLY IN EUROPEAN OIL SHARES COULD BE NEAR
By Blaise Robinson and Marie Maitre ReutersPublished: July 10, 2008
PARIS: European oil shares have been tracking a sell-off in stock markets since May as surging crude failed buoy the sector, but a rally could be near if investors believe high crude prices are here to stay.
The price of oil has jumped by 50 percent over the past six months to hit a record of $145 a barrel last week, supported by tensions surrounding Iran's nuclear program, the weak U.S. dollar's driving money into commodities, and supply concerns coupled with strong demand in emerging markets.
Market watchers contend that stock analysts, who take a bottom up approach, have been too conservative with their oil price estimates, leading investors to treat the major oil companies too harshly.
While a number of strategists now predict oil could soon pass $200 a barrel, the DJ Stoxx European energy index - home of Europe's oil heavyweights - has lost 13 percent so far this year. It has been affected instead by concerns over production costs, reserve replacement issues and the overall bearish sentiment in equities.
Alexandre Weinberg, of Petercam said fellow analysts and the oil companies themselves had been reluctant to raise their outlook for oil because of worries over the impact a sharp drop in prices on projects under development.
Today in Business with Reuters
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"Investing massively in a field that would be profitable at a level of $100 a barrel would be a huge risk that companies are not willing to take," he said. "That's why the bar for projects' viability is much lower than current oil prices."
But there is a growing view that the current high oil price is not about to reverse course. The International Energy Agency said Thursday that while pressures on oil markets should ease slightly next year, demand for oil was still likely to be strong in developing countries.
"With time, investors will realize that high commodity prices, particularly oil and gas prices, are here to stay for years to come, and even 20 percent below current levels is still very high by historical standards," said Aivaras Abromavicius, a fund manager at East Capital Asset Management.
"Crude oil at $200 by year end suddenly looks plausible, even if analysts resolutely refuse to make higher prices their base case," ING analysts wrote in a note.
For Ian Scott, a Lehman Brothers analyst, the disconnect between oil shares and the price of oil may be mainly due to declines in the wider equity market and the conservative positions taken by equity analysts in their profit forecasts for oil companies. However, solid fundamentals and relatively low share valuations would suggest a rebound in the sector.
On consensus earnings, the sector currently trades on a forward price/earnings ratio of 8.7 times, with the 20-year average being 14 times, Scott wrote in a note. "A normalization in values would imply crude at less than $80," he wrote. According to Reuters data, the average one-year forward price/earnings ratio for stocks in the pan-European FTSEurofirst 300 is 10.2 times. Estimates for 2008 and 2009 imply price/earnings ratios of a little over 8 times for BP, Royal Dutch Shell, Total, ENI and StatoilHydro, a little under 8 times for Chevron and about 9 times for Exxon Mobil.
"On a relative-to-market basis, the sector is on a 7 percent discount compared with its average 5 percent premium," Scott wrote. "The last time we noted the disconnect between financial assets closely linked to oil prices and the oil price itself, this was followed by not only a rally in oil stocks, but the overall market too. We think a similar outcome is likely this time."
A UBS analyst, Jon Rigby, said the energy sector was "dramatically undervalued," pointing out that oil stocks fell despite not only higher crude prices, but also 10 to 20 percent increases on average in consensus earnings-per-share estimates for 2008 and 2009.
"This speaks of an extraordinary de-rating when it has become clearer that the world faces enormous energy challenges," he wrote in a note, estimating the average share upside at 24 percent, based on midcycle multiples.
But analysts acknowledge that there are risks in being too bullish on oil stocks given fears of a slowdown in the global economy. "Profits are on the rise," said Vafa Ahmadi, fund manager at CPR Asset Management, "but at the same time, exploration and exploitation costs are rapidly rising too. So the return on capital employed is not moving up."
Investors fear that buoyant crude prices will trigger a global economic downturn at some point, and that would dramatically curb demand for oil, he said. "Where is the pain zone? $130, or $140, or $150 a barrel? It's very hard to say, but the risk is real."
Pride's Semisub Scores 2-Well Contract in West Africa
Pride International, Inc. Tuesday, July 22, 2008
Pride International, Inc. has announced that its deepwater semisubmersible rig, the Pride South Pacific, has been awarded a two-well, estimated 90-day contract by an international oil and gas exploration and production company for drilling operations offshore West Africa.
The contract is expected to commence during early July 2009, following the completion of an existing contract commitment offshore Angola and mobilization to the new location. The contract also provides for two one-well
Pride South Pacific
(Click to Enlarge)
options that if exercised, would extend the firm period of the contract by an estimated 75 days. Revenues that could be generated over the estimated 90-day firm contract period are approximately $58.5 million, excluding revenues for mobilization, demobilization and client reimbursables.
The Pride South Pacific is one of eight deepwater semisubmersibles and drillships in the Pride International fleet. The rig, which completed a significant upgrade in 1998, utilizes a conventional chain and wire mooring system and is capable of operating in water depths of up to 6,500 feet.
|To nye Mosvold-rigger underveis
Publisert 24.07.2008 10:56:36 av Arild Gilja Mosvold Middle East Jackup skal bygge to jackup-rigger hos MIS for omlag 1,7 milliarder kroner.
MIS skal designe og bygge begge riggene på verftet Sharjah og de vil bli levert i desember 2009 og mars 2010. De har byggeetegnelsen, Hull 106 og Hull 108.
|Knallresultater fra noen av riggkjempene...
Noble Corporation Reports Second Quarter 2008 Earnings of $1.40 per Share on Operating Revenues of $813 Million
July 23, 2008 /PRNewswire-FirstCall/
SUGAR LAND, Texas - Noble Corporation (NYSE:NE) today reported second quarter 2008 earnings of $376 million, or $1.40 per diluted share, versus $290 million, or $1.08 per diluted share, for the second quarter of 2007. Per-share earnings were up 30 percent from the second quarter of 2007 and down 2 percent from the $1.43 per diluted share reported for the first quarter of 2008.
Contract drilling services revenues for the second quarter of 2008 were $783 million, up 19 percent from the second quarter 2007. Contract drilling margin for the second quarter 2008 was approximately 67 percent, generating $443 million in net cash provided by operating activities. The Company invested approximately $291 million in capital projects during the second quarter 2008. The results for the second quarter of 2008 include an after-tax gain on the sale of our North Sea labor contract drilling services business of $0.11 per diluted share and after-tax charges of $0.01 per diluted share related to the ongoing independent investigation of the Company's Nigerian operations.
"We are in the midst of another strong year, with great momentum as we head into the second half of 2008," said Noble Corporation Chairman, President and Chief Executive Officer David W. Williams. "We continue to see healthy demand for all classes of units in all markets. We are particularly pleased with the continued strength of the international jackup business. As we look ahead to the remainder of the year, we anticipate taking delivery of the Noble Hans Deul in September 2008 and seeing that unit enter service in the North Sea, increasing our jackup fleet in that market to eight units."
Debt as a percentage of total capitalization declined to 13.1 percent at June 30, 2008, from approximately 13.6 percent at March 31, 2008.
Earnings for the first six months of 2008 totaled $2.83 per diluted share compared with $2.01 in the same period last year. Earnings for 2008 include the gain on the sale of the North Sea labor contract drilling business, while earnings for 2007 included charges of $8 million related to the sale of non-core business assets. Contract drilling services revenues were $1.6 billion and earnings were $760 million in the first half of 2008, up 28 percent and 41 percent, respectively, from the year-earlier period.
Diamond Offshore Drilling, Inc. Announces Second Quarter 2008 Results; Also Reports Four New Letters of Intent
July 24, 2008 (BUSINESS WIRE)
HOUSTON, Texas - Diamond Offshore Drilling, Inc. (NYSE:DO) today reported net income for the second quarter of 2008 of $416.3 million, or $2.99 per share on a diluted basis, compared with net income of $251.9 million, or $1.81 per share on a diluted basis, in the same period a year earlier. Revenues in the second quarter of 2008 were $954.4 million, compared with revenues of $648.9 million for the second quarter of 2007.
For the six months ended June 30, 2008, the Company reported net income of $706.9 million, or $5.08 per share on a diluted basis, compared with net income of $476.1 million, or $3.46 per share on a diluted basis, for the same period in 2007. Revenue for the six months ended June 30, 2008 was $1.7 billion, compared with $1.3 billion for the first six months of 2007.
The Company also announced that it has received Letters of Intent (LOIs) for four semisubmersible rigs that could earn maximum revenue, excluding un-priced options, totaling approximately $900 million and provide 6.5 rig years of work. The LOIs, which are subject to customary conditions, including the execution of a definitive agreement, include:
* Ocean Ambassador – three years, plus un-priced option, commencing June 2009. Maximum total revenue $285 million.
U.S. Gulf of Mexico
* Ocean Star – 18 months commencing November 2008. Maximum total revenue $285 million.
* Ocean America – one year commencing July 2009. Maximum total revenue $190 million.
* Ocean Victory – one year minimum term commencing May 2009. Maximum total revenue $197 million.
[Endret 25.07.08 07:39 av OldNick]
|ENSCO International Reports Record Second Quarter 2008 Results
July 24, 2008 (BUSINESS WIRE)
DALLAS, Texas - ENSCO International Incorporated (NYSE: ESV) reported net income increased by 17% in the quarter ended June 30, 2008, to a record $296.7 million ($2.07 per diluted share) on revenues of $637.1 million, as compared to net income of $254.4 million ($1.72 per diluted share) on revenues of $548.6 million for the quarter ended June 30, 2007.
For the six months ended June 30, 2008, net income increased to $568.7 million ($3.97 per diluted share) on revenues of $1,217.4 million, as compared to net income of $486.7 million ($3.26 per diluted share) on revenues of $1,062.7 million for the six months ended June 30, 2007.
The average day rate for ENSCO’s 44-rig jackup fleet for the quarter ended June 30, 2008, increased to $148,200, as compared to $142,900 in the prior year quarter. Utilization of the Company’s jackup fleet was 95% in the second quarter of 2008 compared to 93% in the second quarter of 2007. The average day rate for the Company’s deepwater rig, ENSCO 7500, increased by 83% in the second quarter of 2008, to $365,500, and utilization of the rig increased slightly to 98% from 97% in the prior year quarter.
Dan Rabun, Chairman, President and Chief Executive Officer, commented on the Company’s results, strategic deepwater initiative and outlook: “Increases in average day rates in all regions and asset classes contributed to the sequential improvement in our second quarter results, and to another record quarter.
“We continue to make good progress on our strategic objective of expanding our deepwater fleet with the announcement of construction of two additional ultra-deepwater semisubmersible rigs, to be named ENSCO 8504 and ENSCO 8505. The first of our six ENSCO 8500 Series® semis now under construction, ENSCO 8500, is scheduled to depart from the shipyard in Singapore during late September and to commence operations in the Gulf of Mexico by mid-first quarter 2009 following completion of rig commissioning, mobilization and final outfitting. The other five 8500 Series rigs are currently scheduled for delivery in 2009 (ENSCO 8501), 2010 (ENSCO 8502 and ENSCO 8503), 2011 (ENSCO 8504), and 2012 (ENSCO 8505). The first four rigs are committed for multi-year operations in the Gulf of Mexico. Although we only recently announced construction of the ENSCO 8504 and ENSCO 8505, we are pleased with the level of customer interest for these two rigs.
“Looking forward to the remainder of the year, we are seeing improvement in backlog and day rates for our U.S. Gulf of Mexico and North Sea jackup fleets, and expect a balanced market for our Asia Pacific rigs. As a result, we anticipate that 2008 will be another record year for ENSCO. With the planned expansion of our active deepwater rig fleet commencing in 2009, and the expected continued strength in markets for our premium jackups, we believe that we are well positioned for continued growth.”
Link til forrige topic: Rigg i et oppadgående marked?
[Endret 25.07.08 07:45 av OldNick]
|US rigs lose six
By Upstream staff
US rig count is down six from last week ending at 1951, said oil services company Baker Hughes.
Canadian rig count is up 16 from last week to 451, while rigs in the US Gulf remained the same at 67 and rigs in North America rose by 10 to 2402.
Of the major oil and gas producing states, Texas lost six, ending at 920 while Colorado increased by four, ending at 114.
Alaska rigs fell by two ending at five, California lost one ending at 43 and New Mexico lost four ending at 80.
Louisiana gained two ending at 189 while Oklahoma remained the same at 207 and Wyoming stayed the same at 76.
The US offshore rig count remained the same at 67
Chevron May Delay $2.8 Billion Brazilian Oil Field (Update1)
By Megumi Yamanaka and Jeb Blount
Aug. 6 (Bloomberg) -- Chevron Corp., faced with falling oil output, and its partners may be forced to delay the start of a $2.8 billion oil project in Brazil by three months because a platform and rig will be delivered behind schedule.
Chief Executive Officer David O'Reilly, 61, has postponed eight major developments in the past two years due to equipment failures and escalating costs, and may struggle to fulfill his pledge to boost production by 3 percent annually through 2010. The second-largest U.S. oil company said on Aug. 1 it may miss this year's output target.
Production at the offshore Frade field in Brazil may only begin in March and reach a peak of about 100,000 barrels a day in two years, said officials at one of the project partners, who asked not to be identified before an announcement. ``If there are any more delays, March sounds right,'' said Luis Felipe Reis, Chevron Brasil's communications manager.
Demand for deep-sea rigs and platforms has increased order backlogs at shipyards in Asia to record levels, with deliveries stretching into 2012. Crude oil's 64 percent gain in a year and depleting reserves in shallower waters are prompting oil companies including Chevron, Exxon Mobil Corp. and Total SA to step up exploration and production.
``It's not unusual to have some slippages in this tight labor and materials market,'' said Victor Shum, senior principal at energy consultant Purvin & Gertz Inc. in Singapore. Delays in commissioning of new fields are ``contributing to the bullish cycle for oil,'' he said.
Frade, operated and 51.74 percent owned by Chevron, is expected to start in 2009, partner Petroleo Brasileiro SA said in a written reply to questions. Brazil's state-controlled Petrobras owns 30 of the project and Japanese investors led by Inpex Holdings Inc. the remaining 18.26 percent.
The field, discovered in 1986, was expected to start pumping oil by December this year, Chevron Brasil's Reis said.
A floating production, storage and offloading vessel, or FPSO, that is being built in Dubai and is delayed, as is a drill rig from Singapore, Reis said in an interview yesterday in Petropolis, Brazil.
The FPSO ship being built in Dubai is due to arrive in Brazil in September, Petrobras's press office said in the written reply. Inpex's Tokyo-based spokesman Kazuya Honda said the field will start some time next year, declining to elaborate.
Frade, which means `monkfish', is located in the north of the Campos Basin, a region responsible for more than 80 percent of Brazil's oil output. The field's wells are located at water depths of between 1,000 and 1,200 meters, according to Petrobras. Campos Basin fields are named after fish.
Chevron's second-quarter profit missed analysts' estimates after output fell and the company's refineries lost more than $8 million a day. The shares fell 0.4 percent to $82.49 yesterday and have declined 12 percent this year.
San Ramon, California-based Chevron said Aug. 1 its oil and natural-gas production dropped to the equivalent of 2.54 million barrels of crude a day, the lowest since the second quarter of 2005. The company won't reach its full-year output target of 2.65 million barrels a day if crude remains above $70 a barrel, spokesman Jim Aleveras told investors on a conference call.
Brazil, South America's second-biggest producer, has opened its doors to foreign investors at a time when international oil companies are struggling to boost output as nations from Russia to Venezuela reduce access to reserves.
``Brazil's getting additional supplies to the market,'' Hirofumi Kawachi, an energy analyst at Mizuho Investors Securities Co. in Tokyo, said by phone. ``It's taking advantage of technology owned by major oil companies to extract oil from fields in the deep sea and places that are hard to reach.''
|High prices boost offshore action
Published: Saturday, August 09, 2008
Brazil and India were the biggest users of offshore oil rigs in July as Petroleo Brasileiro SA drilled the Americas' biggest discovery in three decades and Reliance Industries Ltd. started developing a coastal field.
Brazil deployed 29 rigs and India ordered 28, adding two since June, Baker Hughes Inc., the world's third-biggest oilfield-services provider, said on its website Friday. The countries accounted for 18 per cent of equipment used to drill in waters internationally, excluding the U.S. and Canada.
Benchmark crude prices, which reached a record $147.27 a barrel in New York, have sparked increased offshore exploration efforts. Oil companies including Chevron Corp. and Royal Dutch Shell Plc are hiring vessels to plumb for untapped reserves.
Increased exploration spending has tripled rental rates and kept deep-water rigs operating at near capacity for two years, states the website of Transocean Inc., the world's largest offshore driller.
|Det norske leier oppjekk til Frøy
Det norske har inngått en avtale om en oppjekkbar produksjonsenhet til Frøyfeltet, og forventer å få opp 56 millioner fat olje.
Av Henrik Salthe
DEMONTERT: Elfs Frøyinstallasjon har havnet på
Det norske vil foreløpig ikke opplyse hvem kontrakten er inngått med, men kontraktøren skal stå for konstruksjon og drift av produksjonsenheten som skal til lisens 364.
Tidligere har Elf drevet produksjon på Frøy, men feltet ble stengt i 2001.
Det er forventet at produksjonen skal starte igjen i 3. kvartal 2012, og kontrakten har en varighet på 10 år, med opsjon på fem år til.
- Med dagens oljepriser anslås prosjektet å generere en netto nåverdi på 4 milliarder kroner. Dette utgjør betydelige verdier for både lisenshavere og samfunnet, sier administrerende direktør Eirik Haugane.
Det norske er operatør på feltet med en andel på 50 prosent, mens resten av feltet eies av Premier Oil.
Avtalen som er inngått er en prinsippavtale, og det gjenstår å få godkjenning fra styringskomiteen i lisensen og godkjenninger fra styret hos kontraktøren, Premier og Det norske. I tillegg forutsettes det at PUD for feltet blir godkjent.
|Oslo (TDN Finans): JPMorgan venter at Petrobras neste rigganbudsrunde
trolig vil ha større andel semirigger enn i den seneste anbudsrunden.
Det fremgår av en oppdatering fra meglerhuset torsdag.
Petrobras opplyste i forbindelse med en investorpresentasjon onsdag at
selskapet planlegger å tilføre 63 rigger, hvorav 59 dypvannsrigger, til sin
flåte innen utgangen av 2017. Ifølge JPMorgan er dette nesten det dobbelte
av hva Petrobras har i sin flåte i dag, og 23 flere enn tidligere
Av de 40 riggene Petrobras tidligere har annonsert, er 12 allerede
Mens åtte av de 12 første riggene var boreskip, venter JPMorgan at andelen
semirigger vil bli høyere i den neste anbudsrunden ettersom boreskip
hovedsakelig blir brukt til leting, mens semirigger også blir brukt til
produksjon. Meglerhuset viser også til at nyheten om at Petrobras har behov
for 146 OSVer de neste seks årene, hvorav halvparten AHTSer, tyder på
støtte andel semirigger gitt behovet for AHTSer til å støtte driften av
Petrobras vil starte anbudsrunden for de neste 28 riggene før utgangen av
2008, og disse vil ha leveransedato fra 2013, ifølge JPMorgan.
22 00 11 55
Endret 14.08.2008 14:30 av Lyderhorn
|ENSCO orders seventh ultra deepwater semi at Keppel FELS
Dallas headquartered ENSCO International Inc, (NYSE: ESV) has finalized a construction contract with Singapore's Keppel FELS Limited for the seventh ENSCO 8500 Series ultra-deepwater semisubmersible rig.
To be named ENSCO 8506, the rig's total project cost is currently projected to be $560 million. Delivery is expected in the second half of 2012. The contract follows shortly after the award of the sixth semi, ENSCO 8505, announced on June 1, 2008.
ENSCO 8506 will be part of the company's eight-rig deepwater fleet that includes the ENSCO 7500 deepwater semisubmersible that has been in service since 2000. The first four of the ENSCO 8500 Series rigs to be delivered are contracted to customers for term work commencing upon delivery, and marketing of the three latest ENSCO 8500 Series rigs already is underway.
The first of the seven 8500 Series semis was contracted at Keppel FELS in 2005 and is on track for shipyard delivery in the third quarter of this year. It has been chartered to Anadarko and Eni for operations in the U.S. Gulf of Mexico.
The ENSCO 8500 Series semisubmersibles are based upon an ENSCO proprietary design. Features include a two million pound quad derrick, offline pipe handling capability, automatic station keeping ability to DP2, and 150-man living quarters. The 8500 Series rigs will be capable of drilling in up to 8,500 feet of water. With these capabilities and features, the rigs will be especially well-suited for deepwater development drilling.
Daniel W. Rabun, ENSCO's Chairman, President and CEO, commented: "We continue to execute on our strategy to expand our deepwater presence, and again look forward to working with Keppel FELS on this important project. Our $3.1 billion investment in the ENSCO 8500 Series) rigs demonstrates our commitment to playing a meaningful role in the growing deepwater market. With our current seven rig newbuild program, no other company will have a larger ultra-deepwater semisubmersible rig fleet."
Keppel FELS Limited (Keppel FELS) has won the contract to build the seventh ENSCO 8500 Series¨ deepwater semisubmersible (semi) worth US$560 million. This sum includes equipment specified by the owner.
Mr Choo Chiau Beng, Chairman and CEO of Keppel O&M said, "This contract to build the seventh semi for ENSCO is a vote of confidence from a top-notch drilling contractor for our reliability as a partner of choice. We remain committed to giving ENSCO our full support and contributing to the growth of their high quality deepwater fleet."
|Petrojarl til Frøy
I går ble det kjent at Det norske hadde undertegnet en innledende avtale på leie av en rigg til produksjon på Frøy, og nå er det klart at det trolig er snakk om verdens største jackup, operert av Teekay Petrojarl.
Av Henrik Salthe
Riggen vil ha en solid borepakke, væskeproduksjonskapasitet på 100.000 fat per døgn og oljeproduksjon på 45.000 fat per døgn. Riggen vil også, ifølge kilder Upstream har pratet med, ha en gasskompresjonskapasitet på 2 millioner kubikkmeter per døgn.
Frøy ligger i lisens 364, og skal etter planen starte produksjon i tredje kvartal 2012.
|Keppel FELS delivers jackup ahead of schedule
Singapore's Keppel FELS Limited has delivered a jackup drilling rig to Maersk Contractors three days ahead of schedule.
Named Maersk Resolute today by Ms Anette Bjerge, wife of Mr. Soren Gath Hansen, EVP of Dong Energy, it is the second in a series of four jackups being built by Keppel FELS for Maersk Contractors and has been contracted to Dong Energy for operations in the Danish part of the North Sea for three years.
Mr Claus V. Hemmingsen, CEO of Maersk Contractors, said the early delivery was "yet another significant milestone in the longstanding cooperation between Keppel FELS and Maersk Contractors," adding that "Keppel's track record of delivering projects on time and within budget was a factor for choosing the yard for our massive investment program."
The series of high efficiency rigs have a maximum operating depth of 350 feet and are suitable for drilling deep, high temperature/ high pressure wells of 30,000 feet. They are also highly automated for safe operations.
Deliveries are scheduled at half-yearly intervals. The first rig, Maersk Resilient, was delivered in February this year and has commenced operations for Dubai Petroleum at the Fateh U platform in Dubai waters.
Maersk Contractors is part of the A.P. Moller - Maersk Group and is a significant drilling contractor and supplier of floating production solutions. The fleet counts 26 drilling rigs and four FPSOs including five high efficiency jack-up rigs, three deepwater development semi-submersibles and one FPSO vessel under construction. Maersk Contractors employs an international staff of 3,500 well-trained people.
Keppel FELS is a wholly-owned subsidiary of Keppel Corporation Limited, through Keppel O&M, a leader in offshore rigs, shiprepair and conversion and specialised shipbuilding. Keppel O&M's near market, near customer strategy is bolstered by a global network of 20 yards in the Asia Pacific, Gulf of Mexico, Brazil, the Caspian Sea, Middle East and the North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry
|8/11/2008 10:02:41 PM GMT
High energy prices have continued to buoy demand for jackups, particularly cantilever jackups. According to ODS-Petrodata's World Rig Forecast, jackup demand will continue to rise steadily over the next 12 months at least.
Demand continues to drive new construction. A total of 87 jackup rigs are currently under construction. Independent-leg cantilever rigs rated 300-foot (91-m) to 360-foot (110-m) account for 42 of the jackups under construction at the moment.
Shipyards worldwide are taking advantage of the demand for jackups. SembCorp Marine's PPL Shipyard in Singapore has secured an order worth US$220 million from Egyptian Drilling Co. (EDC) for a newbuild jackup. Delivery is scheduled for mid-2010, about six months after the scheduled delivery of another unit ordered by EDC in December 2009. EDC's jackup with PPL will be built based on the shipyard's Baker Marine Pacific Class 375 Deep Drilling design.
Seadrill also ordered two jackups from PPL Shipyard to be based on the Baker Marine Pacific Class 375 Deep Drilling design. The rated water depth of the rigs will be 375 feet (114 m) and drilling depth capability will be 30,000 feet (9,144 m). Deliveries are scheduled in March and November 2010. The total contract price for the units is around US$430 million.
United Arab Emirates-based engineering company Lamprell has been awarded a US$186 million contract from Riginvest for the construction of a LeTourneau Super 116E jackup drilling rig. The rig will be delivered in June 2010.
Lamprell's contract is for the construction and delivery of a completely outfitted and equipped jackup with a triangular hull and three 477-foot (145.3-m) truss type legs. Each leg will have a rack and pinion elevating system, allowing for drilling in water depths of up to 350 feet (106.7 m).
Arab Emirate's Maritime Industrial Services Co. Ltd. Inc. (MIS) secured a US$335 million contract from Mosvold Middle East Jackup (MEJU) involving the detailed design and construction of two offshore jackups. The rigs, Hull 106 and Hull 108, will be rated for a drilling depth of 30,000 feet (9,144 m) plus operating water depth capability of 300 feet (91 m).
Hull 106 is scheduled for delivery in December 2009, with the second to follow in March 2010. They will be built at MIS' Sharjah shipyard.
Utilization rates for the worldwide slot jackup fleet rated for water depths of 250 feet (76 m) or greater have recovered from lows of 73.2 percent in the first quarter of the year, now settling at around 80.0 percent for the past three months, according to ODS-Petrodata's online RigBase market intelligence tool. Total fleet is at 40, down from a recent high of 41. At least 32 rigs have been consistently under contract since April.
The number of cantilever jackups rated for water depths of 250 feet (76 m) or greater has continued to rise over the past 12 months. Since August 2007, 16 new rigs have entered the market, bringing total fleet size to 277. Fleet utilization since January has stayed high, with a brief drop to 95.9 percent recorded in April.
The number of outstanding jackup requirements worldwide continues to grow, according to RigBase. A total of 297 outstanding jackup requirements are known at present, excluding the U.S. Gulf of Mexico.
With a large number of jackups under construction, rising demand is likely to be met with little difficulty over the next few years as new rigs enter the market.
|Ole Slorer med sterk tro på det europeiske riggmarkedet, Seadrill er blant favorittene:
|- Aksjerally i oljeservice sektoren:
"Toppanalytiker spår aksjerally Ole Slorer i Morgan Stanley spår rally i oljeservicesektoren.
- Amerikanske og europeiske oljeservice- og utstyrsaksjer fremstår som billige over hele linjen, skiver analytiker Ole Slorer i det amerikanske meglerhuset Morgan Stanley.
NA24 - din næringslivsavis
I en fersk rapport fra sitt kontor på Manhattan i New York skriver Slorer at aksjene er priset lavt, og et rally står for dørene innen oljeservice.
Analytikeren fremholder i sin siste rapport at på kort sikt kan det utfordrende makrobilde påvirke sektoren, men tror på en solid oppside på litt lengre sikt.
- Gitt at det ikke blir en betydelig nedgang i oljeprisen eller en fullskala resesjon, tror vi at den amerikanske og europeiske oljeservicesektoren er klar for rekyl, skriver Slorer i rapporten. Men har stor fokus på kortsiktig utvikling i det amerikanske makrobildet.
Les også: Spår fest for Røkke og Fredriksen
Mandag sendte Norges største meglerhus SEB Enskilda ut sin tiende lete- og produksjonsrapport (E&P) hvor det også spår «hey-days» i oljeservicesektoren.
Med økte leteinvesteringer med 19 prosent i og 13 prosent til neste år tror SEB sektoren har et potensial på 23 prosent.
Slorer skriver i sin rapport at Morgan Stanley også tror den europeiske oljeservicesektoren skal opp like mye til neste år, og 19 prosent i 2010.
- Det er fem og ni prosent over konsensus, skriver Slorer.
Les også: Spår solid hopp i oljeprisen
Wall Street-analytikeren anbefaler fem kandidater i Amerika, og fem europeiske aksjer som har stort oppside potensial.
Den argentinske stålprodusenten til oljesektoren Tenaris, teknologiselskapet Smith International Inc., oljeservicegiganten Schlumberger Ltd, oljeserviceselskapet Baker Hughes Inc, og riggdesignselskapet Dril-Quio inc. er blant hans favoritter.
I Europa er reder John Fredriksens Bermuda-baserte riggselskap Seadrill først på listen. Deretter kommer den franske ståltubeprodusenten Vallourec, og oljeserviceselskapet Subsea 7 og samt produksjons- og boreselskapet Sevan.
19.08.08 15:24, ny 19.08.08 15:25"
Endret 19.08.2008 17:41 av Verbier
|COSL's newly-built jack-up drilling rig delivered for operation in Dalian
Published Aug 20, 2008
China Oilfield Services says that its second 400-feet cantilever jack up drilling rig, "COSL942" which built by Dalian Shipbuilding Industry Co., Ltd (DSIC), had been delivered for operation in Dalian. Upon delivery of COSL942, COSL saw its vessel fleet expanded to 16 vessels, comprising 13 jack-ups and 3 semi-submersibles.
COSL commissioned DSIC to build COSL942 in October 2006. Positioned as a sister vessel of COSL941 delivered in May 2007, COSL942 boasts itself as the most advanced 400-feet rig in Asia. During the building process, COSL walked through with DSIC difficulties including a shortage of supporting resources, long delivery cycle of major components and tight construction period, etc. The construction process pioneered a number of new engineering solutions, including dragging on the slipway and launching into the water, installing the core cantilever equipment onto the rig. These solutions ensured on-time delivery.
COSL942 has met the stringent requirements stipulated by both the China Classification Society and the American Bureau of Shipping. It was the second drilling rig in China that is able to operate in waters of 122 meters in depth and perform drilling operations into depths of more than 9,000 meters. Once commencing operation, it can operate on 50 wells within a single positioning exercise within a specific operating area. It is the second drilling rig in China that deploys full varying frequency drive technology, centralized control of electronic drills and other drilling platform equipment. It is capable of performing operations into high pressure, high temperature wells.
Speaking at the delivery ceremony, Mr. Yuan Guangyu, Vice Chairman, CEO and President of COSL, said: "COSL has been investing heavily in the past few years in expanding its capacity in line with market dynamics. COSL942 is COSL's second cantilever jack-up rig after COSL941. Commencement of its operation will boost COSL's operating capability and competitiveness, and bring COSL closer to its goal of becoming the world's leading oilfield service provider by reinforcing its leading position in the offshore China market.
COSL942 will be dragged to Yellow Sea to service the turnkey contract for for Devon Energy (China) Ltd.
|Receives Letter of Commitment for Offshore Freedom
HAMILTON, BERMUDA - 20 August 2008
Scorpion International Ltd., a wholly-owned
subsidiary of Scorpion Offshore Ltd.
(the `Company`), through its Saudi Arabian venture
partner, Odfjell Drilling Services LLC, received a
letter of commitment for the Offshore Freedom for
operations in the Arabian Gulf beginning late
first quarter 2009. The proposed contract is for 4
years and is anticipated to generate approximately
US$ 282 million in revenue. Scorpion Offshore
Ltd.`s revenue backlog, through 2018, now exceeds
The Offshore Freedom is currently being
constructed at Lamprell in Sharjah and is
scheduled for delivery at the end of the first
The letter of commitment is subject to the
execution of a contract, presentation of a
mobilization bond and provision of proof of
|Det blir vel rundt 200K$ pr. dag i fire år, det må vel kunne sies
å være bra.
|Gray Wolf er vel hovedsaklig et landrigg-selskap.
Precision Drilling buys Grey Wolf
JOHN PARTRIDGE, GLobe and Mail
Aug 25, 2008
Refusing to take "no" for an answer has paid off for Precision Drilling Trust, Canada's biggest oil and gas driller.
Precision confirmed early Monday that it has reached an approximately $2-billion (U.S.) cash-and-stock deal to buy U.S. driller Grey Wolf Inc. after the Houston company rejected several earlier unsolicited bids from the Canadian suitor.
The news came five weeks after Grey Wolf's shareholders rejected a proposed merger with well-servicer Basic Energy Services Inc. that management had favoured. The vote against that deal opened the door for Precision to resubmit its offer.
In addition to $5 in cash, Grey Wolf shareholders will receive 0.1883 new Precision Trust units for each of their shares. That works out to a total of about $9.41 a share based on the $22.23 (Canadian) at which Precision's units finished Friday on the Toronto Stock Exchange and the U.S. dollar's closing price Friday of just under $1.05 (Canadian).
This will bring Precision's total cash outlay to $1.11-billion (U.S.) and increase the number of new units it will issue by about 4.5 per cent to 42 million, giving Grey Wolf shareholders about 25 per cent of the combined company.
The Calgary company had sweetened its offer to about $10 a share last month from $9.
Precision chief executive officer Kevin Neveu called the purchase a "perfect strategic fit" for both companies.
"Grey Wolf's customer base, experienced employees and rig fleet will be enhanced by Precision's high performance systems and. . . rig technology," Mr. Neveu said in a news release Monday. "Together we can deliver high-value services that will provide significant value to our customers, employees and security holders."
Grey Wolf chairman and CEO Thomas Richards said the company's board believes the "improved" offer from Precision is in the best interests of shareholders, customers, and employees.
"Grey Wolf shareholders will be able to receive immediate value for a portion of their shares through the cash component of the merger consideration and will have the opportunity to participate in the upside as security-holders in a combined company whose scale, financial strength and strategic advantages position it well for future growth." he said in the news release.
Precision said the two companies' combined U.S. operations will be run from Houston, with a management team headed as president by David Crowley, currently Grey Wolf's chief operating officer and executive vice-president.
|Northern Offshore Ltd. was awarded a one-year drilling contract by AGR Peak Well Management Ltd. valued at about $155 million.
The contract calls for Houston-based Northern Offshore to use its semisubmersible GSF Arctic II in the North Sea. AGR is a subsidiary of AGR Group ASA.
Northern Offshore expects to begin the contract before the end of the year.
The semisubmersible is part of Northern Offshore's $750 million rig acquisition from Transocean Inc.
|Pride orders new ultra-deep-water drillship
By Upstream staff
Houston-based Pride International has placed an order for the construction of a fourth advanced-capability, ultra-deep-water drillship with an expected cost of about $745 million.
The latest drillship, like the company's three previously announced projects, will be constructed at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea on a fixed-price basis and is expected to be delivered in the fourth quarter of 2011, following construction, commissioning and system-integrated testing.
The new drillship, to be named at a later date, is based on an SHI proprietary hull design measuring 750 feet long, 140 feet wide and offering a pay load in excess of 20,000 metric tonnes.
The unit is designed for drilling in water depths of up to 12,000 feet, with a total vertical drilling depth of 40,000 feet, and will have off-line tubular stand building capabilities, as well as feature dynamic positioning in compliance with DPS-3 certification.
The rig, which will be initially equipped for drilling in water depths of up to 10,000 feet, will also have expanded drilling fluids capacity, a 1000 tonne capacity hoisting system and living quarters for up to 200 personnel.
The company expects to fund the construction of the unit with available cash, cash flow from operations and borrowings.
Pride International operates a fleet of 47 offshore rigs, including two deep-water drillships, 12 semi-submersible rigs, 28 jack-ups and five managed deep-water rigs.
The company also has four ultra-deep-water drillships under construction with expected deliveries in 2010 and 2011.
Ocean Rig is being tipped as a strong bet to be the first rig owner to pass the $700,000 per day mark for a drilling contract, as high oil prices and a painfully tight rig market continue to push the limits of what oil companies are willing to pay to drill.
The Stavanger-based company - whose semi-submersibles Eirik Raude and Leiv Eiriksson are two of the largest and most sophisticated rigs on the market - has proven itself a trail-blazer when it comes to setting records.
"Eirik Raude was the first rig over $600,000 and it will be no surprise if Leiv Eiriksson is the first over $700,000," said a veteran Norwegian rig broker.
While the Raude recently commenced its lucrative three-to-five-year charter with Tullow Oil off Ghana, the Eiriksson is scheduled to finish its current contract to Shell in the North Sea in the fourth quarter next year.
It will then be "the only rig with such (deep water) capacities available in 2009", the broker asserted. In this situation, he added, Ocean Rig "is counting on being well paid".
Another broker concurred, saying Ocean Rig is not willing to accept any offers beneath $700,000 per day at this stage.
One market observer pointed out that a surge to beyond $700,000 per day, if indeed that barrier is broken, could prove short-lived.
Several deep-water semisubs and drillships are due for delivery in 2010 and 2011, which could - depending on how demand evolves - lead to a reduction in rates.
Times are also good for owners of premium jack-up rigs. Scorpion Offshore just secured a contract worth $282 million over four years for its ultra premium newbuild jack-up Offshore Freedom. After mobilisation, the contract equates to $185,000 per day, marking an industry record.
"No other jack-up has been contracted for four-year period at such a high dayrate," according to a market report issued by Dahlman Rose & Company.
|US rig count rises by 33
The number of rigs actively exploring for oil and natural gas in the US rose by 33 this week to 2031.
Of the rigs running nationwide, 1606 were exploring for natural gas and 416 for oil, Houston-based Baker Hughes reported. Nine were listed as miscellaneous.
A year ago, the rig count stood at 1829, said Reuters.
Of the major oil- and gas-producing states, Texas gained 27 rigs, New Mexico 14, Oklahoma three and Wyoming two. Louisiana lost 11 rigs and Colorado lost one.
Alaska, North Dakota, California, Arkansas and Alaska were unchanged.
|Ensco moves deep-water rig to Australia
US drilling contractor Ensco International will move an ultra-deep-water drilling rig from the Gulf of Mexico to Australia under a new contract with Chevron, the company said.
The Ensco 7500 semi-submersible rig is expected to complete its current contract with Chevron in the Gulf in September and will then move to west Australia under the new contract.
It will earn a rate of $365,000 per day while it is being moved and an operating rate of $550,000 per day under the contract that runs through April 2010, said Reuters.
|Lamprell set to build third jack-up
By Upstream staff
Rowan Companies offshoot LeTourneau Technologies has sealed a deal to furnish a kit and licence to United Arab Emirates-based Lamprell Energy to build a third Super 116E class jack-up rig.
The rig will be built at Lamprell's Jebel Ali facility in the UAE with delivery expected in June 2010.
Lamprell currently has two Super 116E class jack-up units being built under licence from LeTourneau.
The delivery of the kit, which includes the rig's legs, jacking system, cranes and certain other components, will occur in stages in line with the rig schedule. The initial delivery is expected to occur in the fourth quarter this year with final delivery scheduled during the second quarter next year.
LeTourneau built the world's first jack-up drilling rig in 1955 and has designed or built about one-third of all jack-up rigs in service
The Super 116E rig is designed to drill in up to 350 feet of water in moderate environmental sites and can be outfitted to handle high temperature/high pressure wells.
|Får 515.000 dollar dagen
Transoceans dypvannsrigg Transocean Rather setter ny raterekord.
Det er fortsatt hett i riggmarkedet
Foto: Gunnar Eilertsen
Transocean har sluttet dypvannssemiriggen "Transcoean Rather" på britisk sokkel i en måned fra oktober 2009 til en dagrate på 515.000 dollar. Raten kan endres på grunn av kostnadsøkning. Forrige dagrate for riggen var 436.000 dollar.
Det fremgår av Transoceans flåteoppdatering onsdag.
Innen mid-water-segmentet er "Sedco 704" sluttet fra februar 2010 til januar 2012 for Shell på britisk sokkel til 420.000 dollar pr dag. Også denne raten kan justeres på grunn av kostnadsinflasjon. Forrige rate for riggen var 371.000 dollar pr dag.
"Sedco 700" er sluttet fra august til november i år i Kongo for Total til en dagrate på 421.000 dollar. Deretter går riggen på en kontrakt frem til august 2009 til en rate på 410.000 dollar pr dag.
Innen standard jackup-segmentet er det gjort en rekke slutninger. Blant annet er "GSF Labrador" sluttet i en måned fra november 2008 til 210.000 dollar pr dag. "Shelf Explorer" er sluttet fra november 2008 til mai 2010 til 150.000 dollar pr dag.
Publisert: 03.09.2008 - 12:58 Oppdatert: 03.09.2008 - 12:59
|West Taurus klar
Seadrills "West Taurus" gjør seg nå klar for arbeid utenfor Brasil når riggen nå er klar fra Jurong Shipyard i Singapore.
Av Henrik Salthe
TIL BRASIL: "West Taurus" skal på kontrakt for
Petrobras. (Foto: SEMBCORP)
Riggen ble døpt 6. september, og er den andre av fire som selskapet har bestilt fra verftet. Den første, som også er basert på Friede & Goldmans Ex-D Millennium Class design, var "West Sirius" som var ferdig i mars. De neste to riggene vil leveres i 2010 og 2011, skriver Jurong Shipyards eiere Sembcorp i en pressemelding.
Riggen skal være klar for leveranse i november. Riggen har plass til et mannskap på 180 personer, og kan bore i nesten 1.000 meter dypt vann. Riggen kan bore ned til et dyp på nesten 12.000 meter.
- "West Taurus" blir et uvurderlig tillegg til flåten vår, og vi er overbevist om at verftet vil fortsette å levere slike strålende resultater på de neste to riggene vi har bestilt fra dem, sier Seadrills president Alf Thorkildsen
DDI Holding AS (tidligere Sinvest) har sluttet den nye oppjekkbare boreriggen Deep Driller 7 på en kontrakt utenfor Thailand. Riggen skal mobilisere til kontrakten i løpet av september
Kontrakten har en fast periode på 3 måneder, men kan forlenges med ytterligere 6 måneder. Verdien på den faste delen er satt til 18 millioner dollar, som gir en dagrate på 200.000 dollar.
|September 8, 2008
Sembcorp Marine gets two rig jack-up order from Egypt
Singapore's PPL Shipyard, a subsidiary of Sembcorp Marine, has secured a contract from Egyptian Offshore Drilling Company, S.A.E. (EODC) for the construction of two jack-up rigs for a total around US$425 million.
The first unit is scheduled to be delivered at the end of the fourth quarter of 2010 while the second will be delivered by end of the first quarter of 2011. On deliveries, these rigs will be contracted for offshore operations in Egypt.
The two high performance jack-up rigs will be built based on PPL Shipyard's Pacific Class 375 proprietary design and proprietary components. Each will be equipped to drill high pressure and high temperature wells at 30,000 feet whilst operating in 375 feet of water and will have accommodations with full catering and amenities for 120 persons.
|Påfallende at rigg med betydelig økende inntekter i NOK (dem som har positiv EDITDA...) faller 8-16% her hjemme mens OSX da trekker ned til støtte rundt 250 og et fall lik omkring 3% i dag på oljens dans rundt $100. Dette mens visitbiliteten i rigg ikke har endret seg og når utsiktene fremdeles ser likedanne ut som for noen uker siden og bedre enn for 4 måneder og for et år siden...
Endret 09.09.2008 18:31 av Crone
|Nå falt ikke de toneangivende riggaksjene mer enn 4-5% da.
|AmFels hands keys to Scorpion
By Upstream staff
Keppel Offshore & Marine unit Keppel AmFels has delivered Scorpion Offshore's fourth newbuild jack-up drilling rig, the Offshore Vigilant.
The yard received a bonus of $1.35 million upon the successful delivery of the jack-up.
The Offshore Vigilant is one of five LeTourneau Super 116 jack-ups commissioned by Scorpion in 2005.
Two units, Offshore Courageous and Offshore Defender, were delivered last year and the third, Offshore Resolute, in May this year. All were completed on time. The fifth unit is expected to be completed next year.
All five rigs are identical. Each incorporates a 70 foot cantilever, the maximum reach currently available for all but a few harsh environment units.
Each is capable of working in 350 feet of water as outfitted or in water of depths of up to 400 feet through the installation of extra leg sections. The drilling depth is about 30,000 feet.
The Offshore Vigilant has been chartered by Gazprom for its maiden operations off Venezuela, beginning next month.
Presently, Keppel AmFels is building rigs for Diamond Offshore, Atwood Oceanics, Perforadora Central and Rowan Companies.
|Seadrill bullish over drill market
"In fact, I see better market conditions today than I have ever seen," Thorkildsen said in an interview on the sidelines of an oil and offshore conference.
| Et kritisk år for riggeiere
Rigg-guru Gavin Strachan mener finanskrisen kan skape problemer for nybygg.
- Krisen kan bli svært viktig. Året vi går inn i nå blir veldig avgjørende, sier Gavin Strachan om finanskrisen som uroer markedene.
Strachan er en av verdens fremste rigganalytikere og leder i det amerikanske selskapet ODS Petrodata.
- Det er klart finansiering påvirker markedet, et nybygg koster mellom 700 millioner og en milliard dollar. Finansieringen tar lenger tid. Bankene vil være mer opptatt av å velge de gode prosjektene. Gode prosjekter får alltid finansiering, slik er det alltid, sier han til DN Energi etter foredraget på Paretos offshorekonferanse i Oslo i dag.
Rigganalytikeren fylte hovedsalen på konferansen til randen. Den forhåndsmeldte tittelen på foredraget hans var "When will the good times end for the offshore drilling market?". Det er hovedsamtaleemnet til de 1500 deltagerne som er svært preget av aksjekursenes kollaps.
- Som dere ser og vet er det en sammenheng mellom aktiviteten i riggmarkedet og oljepris, innledet Strachan, og viste en graf over markedet for dypvannsrigger de siste årene.
Men han avviser foreløpig krisen med stor sikkerhet. Nedgangen fra 140 dollar fatet til 100 dollar fatet er dramatisk, men 100 dollar fatet er fremdeles høyt.
60 dollar endrer markedet
Strachan mener at den kritiske oljeprisen er på 60 dollar - men personlig tror han ikke at vi kommer dit. I tillegg kan det skje noe dersom oljeprisen faller mindre, men raskt.
- Dersom oljeprisen faller mye i månedene fremover kan det påvirke budsjettene som legges av oljeselskapene. Jeg tror det vil skje endringer i oljeselskapenes planer dersom prisen faller til 80 dollar fatet før jul. For at neste års pris skal bli avgjørende trengs det en lang periode med lave priser, sier han.
Dessuten mener han det vil komme en rekke oppkjøp og fusjoner i riggindustrien i tiden som kommer. Delvis på grunn av mangel på finansiering, og delvis fordi det er naturlig når det er mange små aktører med nybygg.
Mye å gå på
- Det avgjørende er til slutt hvilken oljepris som er lagt til grunn for prosjektene, understreker han.
Exxon opererer nå med 35 dollar fatet som kritisk for prosjekter. Total har 80 dollar og BP 60 dollar. I følge den siste undersøkelsen til BP er det gjennomsnittelige kritiske punktet 85 dollar fatet for nye prosjekter.
Publisert: 11.09.2008 - 12:28 Oppdatert: 11.09.2008 - 12:48
ODS-Petrodata tror norske riggeiere har mange gode år foran seg. Dagratene kan snart nå 700.000 dollar.
Av Henrik Salthe
Gavin Strachan i ODS-Petrodata tror dagratene kommer til å holde seg høye lenge, selv om det etter hvert er mange rigger på vei inn på markedet. Høyere dagrater begynner også å bli en nødvendighet, i og med at riggene blir stadig mer avanserte og dyre.
Strachan sier ifølge Dagens Næringsliv at det særlig er dypvannsrigger med kapasitet over 3500 fots dybde det er størst behov for. Jack up-etterspørselen vil derimot avta noe om tre år.
|Brukbar kontrakt for denne 2 gen riggen av typen Aker H-3.
Får $334k/dag (2 x 365 d).
Riggen går nå på $255k/dag for ENI utenfor Congo.
Pride International, Inc., Announces Contract Award for Semisubmersible Rig Sea Explorer
Sept. 11, 2008 (GlobeNewswire via COMTEX)
HOUSTON - Pride International, Inc. (PDE.N) announced today that its second generation semisubmersible rig, the Sea Explorer, has been awarded a two-year contract with OGX Petroleo e Gas Participacoes SA for work offshore Brazil. The contract is expected to commence in August 2009, following the completion of an existing contract commitment in the Republic of Congo and mobilization to the new location. Revenues are expected to be $244 million excluding revenues for mobilization, demobilization and client reimbursables.
The Sea Explorer is one of 14 semisubmersibles and drillships in the Pride fleet. It is a conventionally moored semisubmersible rig and is capable of operating in water depths of up to 1,000 feet.
|Ensco 74 missing in action
By Upstream staff
Ensco International has reported that its jack-up rig Ensco 74 is missing, following visual inspection of its Gulf of Mexico rig fleet that lay in the path of Hurricane Ike.
The rig had been located in around 230 feet of water 92 miles from shore in South Marsh Island Block 149.
Aerial reconnaissance and a boat dispatched to the location failed to locate the rig.
All personnel had been safely evacuated from the rig ahead of the storm.
The rig is insured for $100 million and Ensco has a $50 million per occurrence retention for Gulf of Mexico windstorm damage losses with an aggregate annual limit of $155 million, said the company in a statement.
All of the company's other jack-up units have been located with no damage. Eight of the 13 units have also been re-manned.
|Mer tap av rigg. Ikke av de mest verdifulle, men allikevel...
Man kan jo lure på om forsikringsselskapene har penger til å dekke tapsforsikringen ?
Pride International, Inc. Provides Update On Status of Gulf of Mexico Fleet Following Hurricane Ike
Sep 16, 2008 (GlobeNewswire via COMTEX News Network)
HOUSTON -- Pride International, Inc. (NYSE:PDE) reported today that the Pride Wyoming, a 250-foot mat slot jackup rig operating in the U.S. Gulf of Mexico, is missing and expected to be a total loss following Hurricane Ike. The rig's last location was at Ship Shoal 283, approximately 90 miles south of Houma, Louisiana. All rig personnel had been safely evacuated prior to the arrival of the storm.
The company noted that the insured value of the rig is $45 million, with a $20 million loss retention. In addition, the company is fully insured for costs associated with the removal of wreckage, if necessary.
Air reconnaissance of the remaining rigs in Pride's U.S. Gulf of Mexico fleet indicated no visible damage. The company has begun the process of boarding these units to conduct a more thorough inspection and to commence reactivation.
Ike muzzles Mad Dog
By Upstream staff
Sept. 16, 2008
UK supermajor BP said the drilling derrick on its Mad Dog oil platform in the Gulf of Mexico was toppled and resting on the seabed after Hurricane Ike.
"Mad Dog's drilling derrick, which sits atop the platform, was toppled and is on the sea bed," the company said in a press release.
The company added that overflights and on site inspections found minimal signs of damage to most of its other platforms in the Gulf of Mexico.
BP said there were no signs of flooding at its oil refinery in Texas City and that inspections of critical systems at the plant were under way.
Endret 16.09.2008 13:51 av OldNick
|Noble reboards drifting rigs
By Upstream staff
Sept. 16, 2008
US drilling contractor Noble said it had reboarded two of their rigs which broke free of its moorings as Hurricane Ike punished the Gulf of Mexico last week.
Noble said it had landed crew on the semi-submersibles Noble Paul Romano and Noble Amos Runner and restored power, while tugs were standing by to help moor and restart the rigs.
The rigs were closely monitored by the Minerals Management and the US Coast Guard after breaking their moorings during the storm, but had not posed any threat to oil infrastructure in the US Gulf.
A third rig, Noble Lorris Bouzigard, reported damage to its mooring systems but had not drifted from its site.
Noble said that apart from damage to the mooring systems, the rigs appeared to have little other significant damage.
The company said crews had returned to all its rigs operating in the US Gulf except the Noble Clyde Boudreaux, which would be reboarded tomorrow.
The rigs appeared not to have suffered significant damage, and the company reported no injuries or environmental damage.
Noble is the biggest driller contractor operating in the deep-water Gulf of Mexico.
Diamond rig takes Ike hit
By Upstream staff
Sept. 15, 2008
US drilling contractor Diamond Offshore Drilling said one of its shallow-water drilling rigs had been damaged by Hurricane Ike and it was still trying to assess the condition of another that was in a Galveston shipyard.
The company said a visual inspection done by air showed its jack-up rig Ocean Tower had lost its drilling package, including the derrick, in the hurricane, which swept onto the Texas coast over the weekend.
The Ocean Tower, which was directly in the path of the storm, operates in water up to 350 feet deep and can drill to a depth of 25,000 feet.
The company added the Ocean Drake jack-up rig was in the Galveston shipyard but had not yet been inspected because it has not been able to access the area.
|Rowan Reports on Condition of Gulf of Mexico Fleet Following Hurricane Ike
Sept. 16, 2008 (BUSINESS WIRE)
HOUSTON -- Rowan Companies, Inc. (RDC.N) announced today that it has completed an initial aerial survey of its nine rigs in the Gulf of Mexico. All of the Company's rigs were on location, with the exception of the Rowan-Anchorage. The Company is undertaking efforts to locate the rig but believes it may have capsized and sunk at its pre-storm location offshore Louisiana. All appropriate regulatory agencies have been notified.
In addition, Rowan's Sabine Pass, Texas facility encountered a significant storm surge and is expected to be out of commission for some time. The Company's newbuild jack-up, Rowan-Mississippi, which is stationed there for final outfitting, was apparently struck by another vessel during the storm. The Company's initial assessment is that the damage is limited and should not delay the rig's scheduled delivery.
Rowan's other rigs in the Gulf Coast area appear to have sustained minimal damage but a complete evaluation of their condition will require a closer inspection upon the return of the Company's drilling personnel. Crew members have begun returning to their assigned rigs and normal operations should resume as soon as possible.
The Rowan-Anchorage was a LeTourneau 52-class slot jack-up rig. The rig had been secured at its pre-storm location in Vermillion Block 201 and all personnel were evacuated prior to the arrival of Hurricane Ike. It was insured for $60 million, less a $17.5 million windstorm deductible, and had a carrying value of approximately $4.5 million. The rig had been operating under a well-to-well contract at a day rate of approximately $60,000.
Noble says 2 rigs drifted after Hurricane Ike
Sept. 16, 2008 (AP)
Noble Corp. said Tuesday that mooring equipment on two of its offshore platforms failed during Hurricane Ike, but that it is making repairs.
The Noble Paul Romano and Noble Amos Runner rigs drifted from their original locations after the mooring failed, and the Noble Lorris Bouzigard's mooring system was damaged, but that rig remained in the "area of its primary location," the company said.
Ike slammed into the Gulf Coast early Saturday with sustained winds of about 110 mph, tearing through homes, streets and public infrastructures.
The storm destroyed at least 10 offshore platforms in the Gulf of Mexico and left refineries and pipelines idled or destroyed throughout the region.
Noble said it has startup crews on all other active rigs in the Gulf, except the Noble Clyde Boudreaux, which is set to be remanned on Wednesday.
|Sembcorp bags first rig deal with Sinopec
By Upstream staff
Singapore's Sembcorp Marine is primed to build Chinese giant Sinopec's first jack-up rig built outside of China in a deal worth $229 million.
Sembcorp's PPL Shipyard will build the unit which is scheduled for delivery in the first quarter of 2011.
The Pacific Class 375 offshore jack-up rig order was placed by Sinopec's Hong Kong-listed international arm.
Shanghai Offshore Petroleum Bureau, which is an offshoot of Sinopec, will own and operate the unit.
The rig will be equipped to drill high pressure and high temperature wells to 30,000 feet, while operating in 375 feet of water and can accommodate 120 people.
"This is significant as it will be the first jack-up drilling rig to be constructed outside China for (Sinopec)," PPL Shipyard's senior general manager Tan Kim Yung said in a statement today.
To date PPL Shipyard has received a total of 27 jack-up orders based on Pacific Class 375 design, with 13 units delivered and 14 units currently under various stages of construction with deliveries till 2011.
|Aban mulls Oslo after canning Singapore
By Upstream staff
Indian drilling company Aban Offshore is contemplating listing its Singapore offshoot on the Oslo Stock Exchange after ruling out a public issue in the island republic due to lagging markets.
Aban's managing director Reji Abraham told shareholders yesterday that the proceeds of the initial public offering, which would have been the largest by an Indian company in Singapore, were to be used to pay off debt incurred from the purchase of Norwegian drilling outfit Sinvest in 2006.
Aban now feels that it may get better valuations in Norway, where the Oslo exchange is widely regarded as the best in the world for petroleum companies.
Aban Offshore is also planning to raise equity itself in the domestic and foreign markets, reported The Hindu's Business Line.
The paper reported Abraham saying that the company has orders on hand worth $2.8 billion.
Aban Offshore owns seven rigs, while Aban Singapore owns 14, ten of which came through the Sinvest deal. Two of the 14 units are still being built, while three are under refurbishment, with the rest in operation.
|Jindal to take stake in deep-water game
By Damon Evans
Indian contractor Jindal Drilling & Industries is set to dive into the country's deep-water sector as it seeks to seal a joint venture agreement with Norwegian outfit Sevan Marine to build a rig for India's Oil & Natural Gas Corporation (ONGC).
A well-placed source close to the negotiations said that if the deal goes through, oilfield services group Sevan Marine will hold a 77.5% interest with Jindal taking the remaining 22.5%.
Jindal has been eyeing the ballooning deep-water market and earlier this year formed an alliance with an unnamed technically strong foreign company, the New Delhi-based company's managing director said.
"We forged our alliance together and they've been awarded a three-year contract with ONGC, and we shall be working together with this project ... this and more to come," Naresh Kumar told Upstreamonline in an interview.
The deep-water rig, which is expected to be operational within the next three years, will be capable of operating in water depths of 10,000 feet and drilling down to 50,000 feet.
Sevan Marine will operate the rig with Jindal playing a supporting role, providing services as the local partner.
The Norwegian outfit has an existing deal to charter one of its cylindrical drilling units, being built by Chinese yard Cosco, to ONGC for a deep-water campaign off the east coast of India, for three years from December 2010
Jindal will become the first Indian drilling outfit to take a stake in a deep-water unit capable of operating in 10,000 feet of water, beating rivals Aban Offshore and Great Offshore. Aban's deep-water rigs can drill at depths of about 7000 feet, but the company has plans for more units able to operate at greater depths.
The joint venture will be funded through internal finance but an initial public offering is also a real possibility, potentially in Singapore.
Last week, Jindal took delivery of the first of two new-build jack-ups on order from Singapore's Keppel Fels yard.
Kumar said that an initial public offering is on the cards for a third or fourth jack-up rig, but for the first two units, Discovery I and Virtue I, all the finance is tied up with leading foreign banks.
As well as the deep-water and jack-up markets, Kumar foresees exponential demand for directional drilling and aims to build on Jindal's recent experience in this area.
Jindal currently operates two jack-up drilling rigs in partnership with US-based Noble Drilling, which will double with the arrival of Discovery I and Virtue I, which are both set to start work for ONGC this year.
HOUSTON - The number of rigs actively exploring for oil and natural gas in the United States fell by 13 this week to 2,018.
Of the rigs running nationwide, 1,589 were exploring for natural gas and 417 for oil, Houston-based Baker Hughes Inc. reported Friday. Twelve were listed as miscellaneous.
A year ago, the rig count stood at 1,769.
Of the major oil- and gas-producing states, Wyoming gained two rigs while Arkansas, Louisiana and Mexico gained one apiece. Oklahoma lost five rigs, and Texas lost two. North Dakota lost one. Alaska, California and Colorado were unchanged.
|Petroleos Mexicanos, the state-owned oil company, awarded a contract to a unit of Noble Corp., the third-largest U.S. offshore oil driller, for the use of an offshore jack-up rig to boost production at its Cantarell field.
The $131.9 million contract is for 731 days beginning Feb. 10, 2009, the Mexico City-based company said in an e-mailed statement. The rig can operate in 250 feet of water and can drill at least 20,000 feet, it said.
Pemex, as the company is known, also awarded a pair of contracts for $27.7 million and $26.4 million to units of Nabors Industries Ltd. for onshore drilling equipment and drilling services, according to the statement. Work will begin in December of this year and January 2009 and last 302 days, it said.
Chevron Corp. plans to drill 15 "subsalt" wells in the Gulf of Mexico in the 2008-2012 period.
Oil companies have found about 16 billion barrels of oil in deep-water Gulf of Mexico fields and will produce about 14 billion barrels of those by 2016, said Steve Thurston, vice president for deep-water exploration and production.
"About 16 billion barrels have been found so far in deep water, and there's no reason we aren't going to find more," Thurston said. "The structures we are studying certainly contain the potential for 16 billion more barrels."
Chevron so far has drilled 46 deep-water offshore wells in the Gulf of Mexico, Thurston said. Success rate in the Wilcox area, a geological structure that lies beneath a layer of salt in the Gulf of Mexico, has shown a 60 percent success rate in striking oil, Thurston said.
Exxon Mobil Corp. and PT Pertamina may have 300 billion cubic feet of proven gas reserves at the Cepu field in Java, 82 percent lower than an initial forecast, said an official from the Indonesian state oil company.
The proven gas reserve at the nation's biggest untapped oil deposit is below an initial estimate of 1.7 trillion cubic feet, Karen Agustiawan, director of exploration and development, said.
Cepu may start pumping 6,000 barrels of oil per day in December, lower than the government-set target of 20,000 barrels, Agustiawan said.
|Gode poster Kev, om du kunne linket med kilder også hadde det vært helt supert!
|49 plattformer, fem ledninger, tre jackuper
Det er nøkkeltallene i skaderegnskapet til amerikanske Minerals Management Service (MMS) etter orkanen Ikes herjinger i Mexicogulfen.
Av Henrik Salthe
Ifølge MMS er hele 49 produksjonsplattformer ødelagt av orkanen, og tre jackuper ble også satt ut av spill. Disse tre er "Rowan Anchorage", "Pride Wyoming" og "ENSCO 74". Både "Rowan Anchorage" og "ENSCO 74" har sunket, men det er foreløpig litt usikkert hva som har skjedd med "Pride Wyoming". Pride International, som eier riggen, regner den dog som tapt i stormen.
I tillegg til dette har fem rørledninger blitt innrapportert som skadet, men omfanget av ødelagt gassledninger er vanskelig å si noe om før operatørene har fullført komplett testing av ledningene sine.
Endret 22.09.2008 12:17 av kev
|Rig rates strong, seen rising
Published Sep 22, 2008
Drilling day rates and prospects for rig companies continue to strengthen and improve, as oil companies pile up exploration wells to match a recent focus on production-well drilling.
One by one, rig contractors continue to clear the hurdles once seen curbing their momentous rise into "money machines", as Seadrill's Norwegian owner, John Fredriksen, once called them.
Delays, cost-overruns and blown oil-company contracts have yet to kick in ahead of the peak of rig-deliveries in 2010, judging by a Scorpion Offshore message to shareholders at the weekend.
"Worldwide jack-up and floater demand and dayrates are strong and strengthening," a statement from the company said. It said drilling contract durations were also increasing, as oil companies race to capitalize on oil prices still near the $100 dollar a barrel mark.
Scorpion it was "encouraged by the level of customer inquiries" and the prospects for long-term contract awards for its unbuilt premium jack-ups. The company said the first four of its rigs have been nearly on time but on-budget. Scorpion's order book shows $1.8 billion in backlog, or 2.5 times the company's current market capitalization.
Oil industry analysts still see pressures on yards and rig-company-sent yard overseers for complete the world's remaining newbuilds in good order. Meanwhile, the price of jack-up in the North Sea hovers at an average $149,000, judging by recent contract awards. For comparison, rates for semi-submersibles offshore Brazil start at $340,000 to $420,000 a day, but have ranged higher.
Semi's in the North Sea begin at $430,000 and range up to nearly double that.
|Noble hands out $585m drillship deal
By Upstream staff
Korea's STX Heavy Industries and Dutch design and construction group Huisman have landed a $585 million deal to build and equip a new harsh-weather ultra-deepwater drillship for US contractor Noble Drilling.
Houston-based Noble said today it had signed contracts for the dynamically positioned Globetrotter class drillship, to be built at STX's new facility in Dalian, China, and to be equipped by Huisman in the Netherlands.
Delivery is scheduled for the second half of 2011. The vessel will move to Europe under its own steam for the installation of the topsides equipment.
The deal includes options for three further Globetrotters, exercisable over the next 90, 120 and 180 days.
The contracted vessel will be 625 metres long with a beam of 105 feet. It will be capable of drilling to depths of 40,000 feet in water up to 10,000 feet deep.
The drillship will have berths for a crew of 180. Huisman will equip the vessel with its multi-purpose tower design capable of both drilling and pipe assembly work.
David Williams, chief executive of Noble Corporation, Noble Drilling's parent, said the company saw "robust" demand for ultra-deepwater rigs continuing into 2012.
|Democrats to let offshore drilling ban expire
WASHINGTON: Democrats have decided to allow a quarter-century ban on drilling for oil off the Atlantic and Pacific coasts to expire next week, conceding defeat in an months-long battle with the White House and Republicans set off by $4 a gallon gasoline prices this summer.
|COSL corks Awilco takeover
By Upstream staff
China Oilfield Services (COSL) has successfully completed its $2.5 billion takeover bid for Norway's Awilco Offshore.
The deal represents the largest 100%-stake overseas acquisition in the non-oil and gas category in the energy sector in China to date.
From now on the once-Oslo listed Awilco is included as part of COSL Norwegian offshoot.
Following the deal, COSL will have the world's eighth largest rig fleet, comprising 34 operating rigs, including those being built.
|Så får vi se da om en del av aksjonærene som solgte sine AWO aksjer til en god pris,velger å reinvestere i øvrige riggaksjer på OSE. Nå på billig salg :-))
|Finnes det noe annet enn SeaDrill og FOE/BON/GRO da ?
|Nevner man Sevan, Petromena, Petrolia Drilling og Songa så er det ikke mye igjen. OSE er snart ribbet for rigg-selskaper der inntjeningen vil definere disse selskapene som inntjeningsvinnere uansett bransje de neste 10 årene.
Endret 24.09.2008 16:31 av Crone
|Får vel ta med Petrojack, Petroprod og da.
|MIS bags $364m jack-up job
By Upstream staff
United Arab Emirates-based Maritime Industrial Services (MIS) has bagged its largest contract to date, to build two newbuild jack-ups for Menadrill, valued at $364 million.
The units will be built at Maritime's yard in Sharjah.
The two rigs, Hulls 109 and 110, will be supplied by MIS on a turnkey basis and are scheduled for delivery on 30 September 2010 and 31 December 2010, respectively.
MIS said the rigs will be built according to a Friede & Goldman Super M2 design with 30,000 foot rated drilling depth and an operating water depth capability of 300 feet.
MENAdrill, headquartered in Bahrain and launched by First Energy Bank, will focus on offshore exploration and development drilling in the Arabian Gulf region, North Africa and South-East Asia. Hulls 109 and 110 are the anchor investment in the MENAdrill fleet, MIS said.
MIS managing director Jerry Smith said: "With this contract, MIS is now looking at a backlog of $1 billion. We expect this strong interest in our new-build programme to continue over the next few years in line with the increase in demand for production in the region."
MIS now has seven offshore jack-up drilling rigs under construction in its newbuild programme.
Hull 104, contracted to SeaWolf Oilfield Services, and the first jack-up drilling rig to be built in the Middle East, is scheduled for delivery in November, while its sister unit, the SeaWolf Onome, is to be delivered in January next year.
Endret 25.09.2008 10:04 av Villtotningen
|De Amerikanske riggselskapene som har stor eksponering i GOM vil nok kunne komme med PW i forbindelse med nedetid på sine enheter under orkanene vi nylig har hatt der nede.
Her er førstemann.
|9/25/2008 12:10:46 PM GMT
MILAN: Saipem has been awarded three new offshore drilling contracts worth a total of US$830 million. The contracts are for the charter of Saipem's semisubmersibles Scarabeo 7, Scarabeo 3 and Scarabeo 6 in West Africa and Egypt.
Eni will use Saipem's Scarabeo 7 off the coasts of West Africa for 3 years, with work due to begin towards the end of 2011. Scarabeo 7 is capable of operating in water depths of up to 1,500 metres (4,921 feet) and drilling to depths of up to 8,500 metres (28,000 feet).
Addax Petroleum will be extending its charter of Saipem's semisubmersible Scarabeo 3 for a further two years for use off the coast of Nigeria.
Scarabeo 3 can operate in water depths of up to 500 metres (1,640 feet) and can drill to depths of up to 8,000 metres (26,240 feet).
Burullus Gas Co. wants to extend its charter of Saipem semisubmersible Scarabeo 6 for use in Egyptian waters for one year, beginning at the start of 2010. Scarabeo 6 operates in water depths of up to 780 metres (2,560 feet) and drilling to depths of up to 7,500 metres (24,606 feet).
|Utviklingen går mot oljeleting i stadig nye områder. Ingenting kan stoppe søking etter det sorte gull etterhvert som en oljehungrig verden forbruker mer og mer, og alternativer finnes neppe, de kan bare ikke "vedtas". Rigg er stedet å være i minst 20 -30 år fremover, og spesielt dypvann er bankers:
|Ratene holder seg
fremdeles helt uavhengig av de rådende forhold. Fast del av kontrakt på jackup-en her tilsier 215K i dagrate.
|- Fortsatt behov for flere rigger
- Per i dag er det 3.684 subseabrønner verden over. Dette kan tredoble seg innen 2020, forutsatt at det bygges langt flere rigger, sier Jarand Rystad i rådgivningsselskapet Rystad Energy.
Jarand Rystad peker blant annet på at brønnene blir dypere
og dypere. Foto: Alf Inge Molde
Av Alf Inge Molde
Jarand Rystad har tro på en kraftig vekst for subseabrønner i årene som kommer, både på grunt og dypt vann. Han påpeker imidlertid at det kan bli vanskelig å oppnå denne veksten hvis det ikke bygges flere rigger.
- Mesteparten av riggene blir i dag brukt til å holde produksjonen oppe, og ikke til å lete etter nye funn. Nå har industrien investert i 85 nye rigger, og ser ut til å være fornøyd med det. Men det holder ikke, sier han, og legger til at det trengs 90 prosent flere rigger for å levere en produksjonsøkning i forhold til dagens nivå.
Framtidsutsiktene ble presentert hos FMC Technologies i Asker onsdag. Selskapet kombinerte åpningen av det nye senteret for økt oljeutvinning fra subseabrønner med et eget IOR-seminar hvor en rekke aktører fra bransjen delte erfaringer og tanker om veien videre på havbunnen.
Rystad la også til at industrien trolig vil se en voldsom økning innen spesialbygde fartøy, som blant annet kan brukes til å intervenere subseabrønner. Ifølge Rystads tallmateriale bruker bransjen bare fem prosent av kostnaden ved å få en subseabrønn på plass på å vedlikeholde den.
Endret 26.09.2008 16:54 av kev
EU: - Dumskap å ikke bore i Arktis
Europakommisjonen vil åpne hele Arktis for oljevirksomhet. Utspillet kan få grensetvistene til å blusse opp.
- Arktis er ikke hellig, hvor ellers skal vi hente energi fra? Boring etter olje og gass må støttes politisk og finansielt for EUs energisikkerhet, sier EUs energikommissær Andris Piebalgs til EUobserver.
Utspillet kommer samtidig som både Russland, Canada, Norge og USA kjemper om eierskap til deler av havområdet, og kom på et seminar i regi av tenketanken Friends of Europe og StatoilHydro, skriver Dagens Næringsliv.
Delelinjetvisten mellom Norge og Russland, i såkalt omstridt område, har pågått i nærmere 40 år uten at den nærmer seg en løsning. Området, som er på 183.000 kvadratkilometer, antas å ha store olje- og gassressurser.
- Det er en spennende utvikling at EU legger press på leting etter olje i Arktis. Dette kan også føre til økt press for å finne løsninger på grensetvister i havet, sier havrettsekspert Øystein Jensen ved Fridtjof Nansens Institutt.
Han understreker at selv om utviklingen har en energipolitisk dimensjon er det havretten som avgjør statens rettigheter og forpliktelser i Polhavet, ikke EUs vurderinger.
StatoilHydro gleder seg over utspillet. De opplever at oljefunnene langs norskekysten er mindre enn for ti år siden.
- De store elefantene finnes ikke langs norskekysten lenger. Europa har ikke noe annet valg enn å se til Arktis, sier konsernsjef Helge Lund i StatoilHydro.
Rig sektoren kommer nok til å vere sterk i mange år fremmover vis det åpnes i nordområdene.
|Riggmarkedet på mellomdypt vann er bedre en noensinne.
Etter at FOE satte rekord på Norsk sokkel i sommer med en 4 års kontrakt på over 500 000 USD pr dag, så klemmer de til i dag med en 3 års kontrakt til 410 000 USD pr dag. Eventyrlig :-))
TRE ÅRS BOREKONTRAKT FOR BYFORD DOLPHIN
Dolphin Drilling Ltd., et datterselskap av Fred. Olsen Energy ASA, har inngått avtale om en tre års borekontrakt for den halvt nedsenkbare boreriggen Byford Dolphin i britisk del av Nordsjøen. Avtalen som er inngått med forbehold om endelige kontrakt, forventes å bli påbegynt i første kvartal 2010 etter at riggen har gjennomført fem års klassing. Estimert kontraktsverdi er USD 449 millioner.
|Skulle tro dagens usikerhet rundt oljeprisen vs. finanskrisen og saktere fart i verdensøkonomien påvirket ratene. Det skjer bare ikke, ser vi her. Fantastisk!
Rowan gets commitments for two jack-ups
Oct. 2, 2008, 9:40AM
Rowan Cos., the oil and natural-gas driller that builds its own equipment, said it received commitments from Royal Dutch Shell Plc and W&T Offshore Inc. for the use of two jack-up rigs.
Shell Egypt will use the J.P. Bussell rig, scheduled for completion in November, to drill two wells beginning in the third quarter of 2009, and W&T will employ the Gorilla IV rig for two wells after it becomes available early in the first quarter of 2009, Houston-based Rowan said in statements today.
"This commitment underlies our continued confidence in the strength of the global drilling market," Rowan Chief Executive Officer Danny McNease said in the statement on the Shell deal.
Rowan expects revenue of about $111 million over 20 months for the J.P. Bussell rig lease and about $30 million for a minimum of 150 days for Gorilla IV.
The company's offshore rigs are in service from the Gulf of Mexico to the Middle East. Its fleet includes 20 shallow-water jack-ups, so named because they have retractable legs that can extend to the seafloor.
Rowan fell $1.73, or 5.9 percent, to $27.41 at 9:43 a.m. in New York Stock Exchange composite trading, joining other drilling companies that tumbled. The Standard & Poor's Oil & Gas Drilling Index was down 6.1 percent with all five companies in the index trading lower.
|Det mangler ikke på spennende kjøp på OSE bare det bunner ut. Men når gjør det det?
|Hvor langt fram har de fleste selskapene sikret kontrakter for nå? Det må jo være frykt for hva som skjer når de utløper som gjør at kursene faller.
|Trenger 400, får 10.000 søknaderSelv om Odfjell Drilling i Bergen ikke annonserer etter folk, får selskapet årlig 10.000 søknader fra mennesker som ønsker jobb.
Personalansvarlig Bengt Alvar Olsen tror han ville druknet i søknader om jobbene som offshorepersonell ble lyst ut i media. Pågangen er så stor at det må settes inn ekstrabemanning for å ta unna søknadene.
- Vi er ekstremt privilegert som har en slik pågang av mennesker som ønsker å jobbe hos oss, sier Olsen
Odfjell Drilling er det siste av de store privateide drillingselskapene i Norge, og det største norskeide.
Konsernet sysselsetter i dag 2700 personer.
- Vi har vokst med rundt 300 hvert år de siste årene, og regner med å ha behov for 400 nyansatte hvert av de neste tre-fire årene, sier Olsen.
140 søknader kom inn da Odfjell Drilling skulle ansette en sykepleier. Olsen tror dette skyldes en attraktiv turnus med to uker på jobb og fire uker fri, samt bedre betaling enn i det offentlige.
Olsen peker på at det er en stor utfordring å finne kvalifisert offshorepersonell. Odfjell Drilling driver en utstrakt opplæring av folk, og kan f.eks. tilby undervisning og videreutdanning som gir mastergrad.
Bengt Alvar Olsen tror årsaken til den store interessen både er at Odfjell er en attraktiv bedrift, og at oljebransjen betaler godt.
- Her på huset har vi dessuten et svært godt arbeidsmiljø, tonen er god og folk trives her. Det gode ryktet og den store bredden i tilbudet vårt til de ansatte er sikkert også elementer som teller hos dem som ønsker jobb her, sier Olsen.
150 rigger uten bemanning
Internasjonalt bygges det for tiden 150 nye boreplattformer. Olsen tror derfor det i fremtiden ikke vil bli like lett å få fatt i folk som i dag.
Sammenlignet med de fleste andre, er Odfjell Drilling med sine 2000 offshoreansatte likevel i en gunstig posisjon for videre vekst.
Selskapet kan gi sine ansatte et bredt tilbud både i Norge og internasjonalt.
- Vi har jobber på flyteplattformer og på faste installasjoner i Nordsjøen der vi har boreutstyr om bord. Vi driver brønnservice, har servicebaser og en stor landorganisasjon. Hovedkontoret er i Bergen, men vi har også kontorer i Stavanger og flere byer langs kysten. Ute har vi kontor i Aberdeen, London, Manila, Danmark, Nederland, Korea og i Dubai.
Nå også boreskip
Nytt for Odfjell Drilling er at selskapet har gått inn med 40 prosent eierandel i to boreskip som er bestilt av det greske rederiet Metrostar. Odfjell Drilling stiller med sin ekspertise og skal ha byggetilsyn og teknisk drift av skipene etter levering. Det blir kjempeskip med boremuligheter helt ned på 12.000 fots havdyp.
Den største kunden er StatoilHydro. I Saudi-Arabia skal Odfjell Drilling drive en oppjekkbar rigg for Scorpion Offshore fra 2009. Scorpion mangler selv driftskompetansen som skal til.
Alt i alt har Odfjell Drilling en ordrereserve knyttet til borekontrakter på over 20 milliarder kroner. Det svarer til fem års omsetning.
BENGT ALVAR OLSEN, ODFJELL DRILLING
|Yantai loads out Awilco semisub hull
By Upstream staff
China's Yantai Raffles Shipyard has successfully loaded out the hull for the first of three semi-submersible drilling rigs being built for Norway's Awilco Offshore at its Yantai shipyard in Shandong province, but the unit's delivery date remains uncertain.
Over recent months doubts have been cast on whether the delayed unit will be ready for delivery in October as per the revised schedule.
When contacted by Upstreamonline today, a Yantai Raffles spokeswoman said the yard is doing everything possible to meet Awilco's requirements and both parties are still in discussions over a delivery date.
The Wilpioneer rig, built to GM4000 design, is fully equipped for year round operation in harsh environments, with a dynamic positioning system, accommodation unit and ballasting system designed to support duties such as intervention and drilling in water depths up to 2500 feet.
The lower hull of the Wilpioneer was loaded out onto a floating barge by means of a combination of the Gripper Jack system with the shipyard's existing Roller Skidding Method. The hull was subsequently floated off in the dredging area and tugged into dry dock on 29 September.
This combination can load structures of up to 40,000 tonnes, which is about three times the weight that other yards can load out using a Gripper Jack system of similar size, Yantai's chief executive Cho Yong Jin said in a statement.
"Wilpioneer is the first semi-submersible being built in our shipyard and our adoption of the system has enabled us to execute the load-out with greater efficiency, lower cost and improved safety," he added.
Thursday, 09 October, 2008, 02:44 GMT | last updated: Thursday, 09 October, 2008, 06:57 GMT
Brazil to lend $4.8-billion for ships, platforms
October 8, 2008
Brazil will provide as much as 10 billion reais ($4.8-billion) of loans to build oil service ships, rigs and platforms as the U.S. mortgage crisis crimps financing worldwide. The loans, about half of which will be for production platforms, will come from Brazil's merchant marine fund and from the State Development Bank, BNDES, chief of staff Dilma Roussef said at yesterday's christening of an oil platform owned by Petroleo Brasileiro SA. The P-51 platform was built at the Keppel FELS shipyard in Angra dos Reis, Brazil. The 180,000-barrel-a-day production unit is expected to depart this month for the Marlim Sul oil field in Brazil's offshore Campos Basin.
Transocean shares rally after fleet update
Thursday October 9, 9:46 am ET
Transocean shares rally after fleet update; analyst sees company as 'premier driller'
NEW YORK (AP) -- Shares of Transocean Inc. jumped Thursday morning after the offshore drilling services company said it received several new contracts in its latest fleet update.
The stock rose $4.30, or 5.3 percent, to $85.99 after the opening bell, amid a rally in the broader market. The stock has traded in a 52-week range of $73.08 to $163.
The Houston-based company said late Wednesday its M.G. Hulme Jr. rig secured a one-year, $495,000 dayrate contract, up from a previous $430,000. Additionally, Transocean got one-year contracts for two additional rigs.
"We continue to like Transocean as the premier driller with focus in deepwater drilling with (the) stock now at a greater value given (the) recent sell-off," Morgan Keegan analyst J. Michael Drickamer said in a note to clients.
The stock has dropped 43 percent so far this year.
Drickamer kept an "Outperform" rating on Transocean, and expects it to report third-quarter earnings of $3.16 per share.
Higher dayrates show the company is maintaining a leadership position in the global drilling market, Drickamer said.
|COSL døper Awilco-rigg
China Oilfield Services Limited (COSL) har døpt sin nye jackup-rigg "WilSeeker". Noe kjent med navnet? Det er opprinnelig en Awilco-rigg.
Av Henrik Salthe
COSL kjøpte tidligere i år opp norske Awilco Offshore, og "WilSeeker" ble i sin tid bestilt av det norske selskapet fra PPL Shipyard i Singapore. Som en følge av oppkjøpet, blir "WilSeeker" en integrert del av COSLs flåte.
Riggen er en 115 meters oppjekkbar rigg, og skal tjenestegjøre i Bohai-området utenfor den kinesiske byen Tianjin sammen med "WilBoss" og "WilSuperior" skriver COSL i en pressemelding.
- "WilSeeker"s oppstart er nok en milepæl i COSLs arbeid for å få en bedre konkurransedyktighet i boresegmentet. Det legger fundamentet for at selskapet skal få økt kapasiteten sin, sa administrerende direktør i COSL, Yuan Guangyu under
|Schizophrenia in offshore rig market
By Erik Means
On the one hand punters watch and wait in anticipation of the first charter ever to surpass the $700,000-per-day level as demand, particularly for deep-water units, is projected to outstrip supply despite an outstanding order backlog of more than 180 newbuild rigs.
On the other hand rig owners have seen their share prices dwindle as the US sub-prime financial crisis has spread to become a global phenomenon, with capital markets freezing up, oil prices falling and widespread fears of a global recession.
However, the fundamentals of the market for floating rigs remain strong. Global energy consumption is still projected to rise, albeit at a slower pace, and oil companies continue to struggle to replace reserves, moving into ever deeper and more remote areas in their epic search for oil and gas.
takk for du holder meg oppdatert. Har ikke så mye tid tilgjengelig.
|skdp har fått kontrakt på 490$ for den andre riggen. Hvor bra er det:-)
|kontrakten er 490 mill $ .
|Underwater oil reserves give Brazil a new set of problems
By Bradley Brooks | The Associated Press
October 12, 2008
RIO DE JANEIRO, Brazil - Four miles under the ocean's surface off Brazil's lush coast lie billions of barrels of recently discovered light crude - a treasure that could transform the country into an oil superpower.
President Luiz Inacio Lula da Silva called it "a gift from God" and pledged to end chronic poverty and narrow the country's broad gap between the rich and the poor.
But before rhetoric becomes reality, Brazil must first get to the underwater reserves, among the world's deepest, and then manage a massive influx of wealth - a formidable task that has left other national economies awash in corruption and even greater gaps between the rich and poor.
The nine fields discovered in the last year are thought to hold 50 billion to 80 billion barrels of light crude - more than four times Brazil's current proven reserves. With the find, Brazil could supply all of its own needs for nearly a century or become one of the world's top oil exporters.
Even getting to that point will test the state-run oil company Petroleo Brasileiro SA, which has decades of experience in deep-water drilling.
The oil fields will be the most complicated and costly it has ever developed. Analysts say the project will require at least a $600 billion investment over 30 years.
The deep-water reservoirs lie some 185 miles offshore in the Atlantic, more than a mile below the ocean's surface and under another 2.5 miles of earth and corrosive salt. The salt beds can break loose and shear off piping, making it one of the toughest substances to drill.
Given those conditions, rough ocean currents and floating rigs, the technology required to tap Brazil's so-called "pre-salt" oil is on par with that needed to land a man on the moon, said Eric Smith a drilling expert at the Entergy-Tulane Energy Institute at Tulane University in New Orleans.
"If you were doing this with a drill from atop the Empire State building, about 1,000 feet up, you'd be trying to hit a target on 34th Street the size of a quarter," said Smith.
"Then you've got to go down an equivalent distance to reach the oil, and it might not be on 34th Street, it might be on 42nd Street," he said.
|China Oilfield slides on drilling rate fear
Shares in China's largest offshore services group China Oilfield Services fell as much as 9.4% today as investors worried about its lower drilling rates and higher finance cost.
Credit Suisse said in a research report today that lower global day rates would narrow China Oilfield's offshore China discount limiting physical increase in day rates.
It also said lower day rates put earnings of Awilco Offshore - which was bought by China Oilfield in July - at risk, and higher interest rates squeeze earnings accretion to near zero in 2009 and 2010.
The investment bank cut its target price to HK$5.75 (US$0.75) per share from HK$12.0.
Shares in the company fell to HK$4.83 at 0252 GMT, reported Reuters.
|"Investors worry about lower rates," men status er fortsatt at ratene ikke er i fall og etterspørselen etter rigger, spesielt semier, er større enn tilbudet. Tilbudet øker heller ikke over dagens bestilte enheter slik finansmarkedet oppfører seg pr tid. Balansen er i så måte i favør rigg-eiere som har assets pr dag eller som har levering nær i tid.
|CNOOC nod for Awilco drilling duo
Published Oct 13, 2008
Awilco Offshore through its Premium Drilling business has received a letter of intent from China National Offshore Oil Corporation Limited, or CNOOC, for a two year drilling program for the jack-up drilling rigs WilSeeker and WilBoss.
WilSeeker is scheduled to commence operation upon completion of its current operational preparation. WilBoss is scheduled to commence operation upon completion of its work with NIDO.
CNOOC also has the option to contract a third rig, WilSuperior, on the same terms as above. If the option is exercised, start-up for this rig will be at completion of its work with Thang Long and Truong Son.
WilSeeker, WilBoss, and WilSuperior are all equipped for high-pressure, high-temperature drilling in water up to 375 feet deep.
Riggmillionær mistenkt for storstilt skattesnusk
Politi og skattemyndigheter aksjonerte torsdag på seks forskjellige steder i Norge i forbindelse med mistanke om skattesnusk for 93 millioner kroner.
Det er forretningsmannen Idar A. Iversen som er mannen i myndighetenes søkelys. Han har de siste årene bygget seg opp til å bli mangemillionær på riggselskapet Neptun Marine Oil & Gas, skriver Bergens Tidende.
Etter å ha bodd i Bergen i 13 år, meldte han flytting til Kypros i 2007. Men skattemyndighetene mener han har uoppgjorte skatteforpliktelser til Norge. Hele 93 millioner kroner mener Skatt Vest at Iversen har unndratt gjennom en serie aksjesalg til skatteparadiser.
Politi og skattemyndighetene aksjonerte torsdag på tre adresser i Bergen, samt i Oslo, Trondheim og Vest-Agder.
Skattemyndighetene mener Iversen "... ved sine handlinger de siste fire årene har demonstrert en totalt fraværende vilje til å til å betale skatt, at han har utvist stor kreativitet, og nedlagt betydelige ressurser for å tilegne seg uberettigede skattefordeler, skriver avisen.
Publisert dato: 10.10.08 09:08
Sist oppdatert: 10.10.08 09:08
Publisert av Øyvind Midttun
|Goldman synes å ha blitt utrolig lite treffsikker på timingen, eller?
Eller er det planlagt, skal klientene laste opp med oljeservice-aksjer?
Nedgradere oljeservice etter at de har falt 50%?? Talentløst!
Oil services sector downgraded at Goldman Sachs
Oct 13, 2008 (AP)
Goldman Sachs analysts downgrade oil services sector on concerns about oil prices, slowdown
DENVER - The oil services industry appears to be headed into a cyclical downturn amid fluctuating oil prices and a global slowdown, Goldman Sachs analysts said Monday as they downgraded the sector.
Daniel Boyd and Charles Minervino lowered their rating on the sector to "Neutral" from "Attractive." They also reduced their earnings-per-share estimates on the sector by 28 percent for 2009 and 40 percent for 2010 on average as they expect fundamentals to materially deteriorate.
Day rates were forecast to fall by 30 percent to 50 percent for all drilling rig types, although contract coverage should benefit Transocean, Diamond Offshore Drilling Inc. and Noble Corp., the analysts said.
"The North American land drilling sector is entering a cyclical downturn that is likely to be deeper than the most recent trough in the first quarter of 2008," the analysts wrote in a client note. "With that said, we remain confident in the long-term secular thesis."
Shares of Diamond Offshore rose $15.87, or 23.8 percent, to close at $82.60. Noble added $6.90, or 27.5 percent, to $32.04, and Transocean climbed $13.72, or 19.9 percent, to $82.77.
|Her er fin oversikt som viser den store etterspørselen etter rigger i Nordsjøbassenget. Den viser med tydelighet at det fortsatt er selgers marked innenfor rigg segmentet.
Oversikt over rigg tendere ved utgangen av september
|Gorilla II bags Devon deal
By Upstream staff
Rowan Companies has signed a two year contract with Devon Energy for the charter of the Gorilla II jack-up drilling rig, for $137 million.
The contract will start in January next year.
The Gorilla class jack-up will assist Devon in various drilling and construction projects.
|Fortsatt 81 evakuerte plattformer
Amerikanske Minerals Management Service (MMS) rapporterer at 81 plattformer i Mexicogulfen fortsatt evakuert som følge av orkanene Gustav og Ike.
Av Henrik Salthe
Dette tilsvarer 11,7 prosent av de bemannede plattformene i området.
MMS melder videre at rundt 39 prosent av oljeproduksjonen og 37 prosent av gassproduksjonen fortsatt er stengt ned etter stormene.
|Jeg så nettopp på EPS-estimatene for Transocean. Aksjekursen er nå USD 68, og det samme blir summen av EPS-estimater for 2009-2012 hvis jeg neddiskonterer disse EPS'ene med 10% p.a. Vil tro at Transocean har brukbar kontraktsdekning som sikrer store deler av EPS-estimatene i årene framover.
Endret 15.10.2008 23:06 av delta
|Det må prises inn motpartsrisk, og stor fare for massiv kansellering av kontrakter.
Er det rimelig ?
Vel, kan bare minne om at i 1978, så var USA's oljeforbruk 18.7 mill f/d. Der er vi snart igjen.
Så kom først den Iranske revolusjon/krise, deretter angrepet fra Saddam.
I 1983 var forbruket sunket til 15.3 mill f/d.
Dette kan bli like stygt, og da er det lite som kan holde oljeprisen oppe.
Hvilken hjelp burde ikke dette være for Kina og India?
De burde kunne nyte billigere energi i flere år.
IEA forecaster økende kapasitet frem til ca. 2011, deretter er det dårlig med nye prosjekter.
|Oldnick, man skal ikke glemme at det er omkring 2 milliarder mennesker mer på kloden i dag enn det var for 30 år siden....
|re. Crone, det er riktig, det er defor totalpoduksjonen er ca. 20 mill f/d høyere.
Peak Oil er ikke død, bare utsatt.
Kanskje 10-15 år ?
Sålenge varer ikke krisen, men jeg tror økonomisk vekst i OECD-land blir svært dårlig, de har råvaremangel ved siden av demografiske problem som begge er negativt fo røkonomisk vekst.
|Jeg må si jeg er overrasket over at Songa kjører en emisjon på 25,- NOK (33 % under gårdagens sluttkurs). I dagens marked er tydeligvis god likviditet gull verd.
Songa Offshore ASA (Songa) has on 16 October 2008 completed a
private placement for a total of 10,600,000 new Shares. The
subscription price was set to NOK 25.00 per share, giving gross
proceeds of approximately NOK 265 million.
The total issued share capital in Songa will increase from NOK
94,707,538 to NOK 105,307,538. The total number of shares will
increase from 94,707,538 to 105,307,538.
Pareto Securities AS acted as manager in the transaction.
The purpose of the private placement is to finance the Companys
short term liquidity requirements, including debt repayment, cash
calls from total return swaps and increase in Companys cash
Allocation letters will be sent out today. Payment date has been set
to 21 October 2008. The subscribers will be delivered existing and
unencumbered shares in the Company that are already listed on Oslo
Børs, pursuant to a share lending agreement entered into between
Pareto Securities AS, Songa and Spencer Energy AS.
The shares delivered to the subscribers will be tradable from the
date they are delivered.
The Board of Directors in Songa has resolved to conduct a subsequent
repair offering towards the shareholders in Songa that were not
invited to participate in the Private Placement. The subscription
price in the Subsequent Offering will be equal to the price set in
the Private Placement.
Based on the shareholders registered and invited to participate in
the Private Placement, the size of the Subsequent Offering is
expected to amount to approximately 7,400,000 shares, however, the
total number of shares issued in the Private Placement and the
Subsequent Offering will in no event exceed 18,005,805 shares, which
is within the boards current authorizations. The company will also
prepare a prospectus to be approved by Oslo Børs in connection with
the Subsequent Offering and listing of the new shares issued in the
Private Placement. Consequently, the timing of the Subsequent
Offering is not yet decided, but the offering period is currently
expected to start ultimo November/primo December 2008.
Spencer Energy AS, a company controlled by Chairman Arne Blystad
subscribed for USD 8,000,000 and has not yet received allocation.
Oslo, 16 October 2008
For further information, please contact:
Tom E. Jebsen, CFO (+47 2301 1431)
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright Hugin AS 2008. All rights reserved.
|You never know
|Dette riggfallet overstiger mine sykeste fantasier.Det var noe annet i Sinvesttiden.
|Skulle riggaksjene fortsette fallet videre så kan vi innføre et nytt nøkkeltall.
P/U (U = utbytte)
Ser vi på FOE så prises de til 191,75 NOK i dag. Konservativt kan vi nok vente oss et utbytte på 30,- NOK til våren. De har betalt ut 25,- NOK pr aksje så langt i år.
Dette gir en P/U på 6,39. I løpet av i overkant av 6 år vil FOE ivesteringen være tilbakebetalt ved et årlig utbytte på 30,- NOK. Sansynligvis blir utbyttet større en 30,- NOK pr år.
Den store forskjellen mellom krakket vi ser nå og når IT bobla sprakk er at nå tjener de selskapene som får mest juling noe voldsomt med penger. marginene er tildels eventyrlige og det langt fram i tid.
Vi har enda til gode å se riggkontrakter bli kanselert.