Petrobras Terminates Contract for Ocean Alliance and Ocean Clipper

Source: www.gulfoilandgas.com 11/2/2015, Location: South America

Diamond Offshore Drilling, Inc. reported net income of $136 million, or $0.99 per share, in the third quarter of 2015, compared to $53 million, or $0.38 per share, in the third quarter of 2014. Revenues in the third quarter of 2015 were $610 million, compared to revenues of $738 million in the third quarter of 2014.

"I am pleased with our solid third quarter results, which demonstrate Diamond Offshore's ability to execute on managing our costs and controlling downtime," said Marc Edwards, President and Chief Executive Officer. "During the quarter, our three newbuild drillships delivered operational efficiency of 99.3 percent, which directly benefits our topline and improves project economics for our clients."

Diamond Offshore also confirmed the Ocean Guardian was awarded a contract for a one-year term in the UK North Sea beginning in March of 2016 at a rate of $220,000 per day.

The Company announced that it reached agreement with Petrobras for contracts on the semisubmersible rig Ocean Alliance and the drillship Ocean Clipper to be ended as of October 30, 2015, ahead of their original end dates, in return for an additional 875 days of contract term on the semisubmersible rig Ocean Courage. The additional term will be at a rate of $380,000 per day, representing revenue backlog of $333 million, and will extend the contract into mid-2020. After export from Brazil, the Ocean Alliance will be cold-stacked and the Ocean Clipper will be retired and scrapped. The terminated portions of the contracts represent a loss to revenue backlog of approximately $91 million.

Diamond Offshore also announced that it has declared a regular quarterly dividend of $0.125 per share, payable on December 1, 2015 to shareholders of record as of November 13, 2015.

For more information about related Opportunities and Key Players visit Brazil Oil and Gas Projects


Norway >>  7/4/2022 - Equinor has exercised further work for the Deepsea Stavanger under the continued optionality mechanism provided for in the contract entered into by th...
Norway >>  7/4/2022 - Aker BP builds a new collaboration center in Trondheim, as part of a strategy to link onshore and offshore operations closer together. Cyviz AS is cho...

Norway >>  6/30/2022 - The Petroleum Safety Authority Norway (PSA) has given Equinor consent to use Transocean Spitsbergen for production drilling and completion on the Visu...
Singapore >>  6/29/2022 - The Deepwater Atlas, the first drillship of the eighth generation in the world, was successfully delivered by Sembcorp Marine Ltd to Transocean's subs...

United Kingdom >>  6/29/2022 - Maersk Drilling has secured a contract from Shell UK Ltd for the provision of the harsh-environment jack-up rig Maersk Resilient for the drilling of t...
United Kingdom >>  6/29/2022 - Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact, natural gas focussed exploration and appraisal portfolio in ...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.