Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Teddy who wrote (18283)	4/7/1998 1:22:00 PM
From: ldo79	Read Replies (2) of 95453

Additional info of interest from Offshore-Data 4/6/98: Global Marine takes third drillship option, prepares to move jackup to North Sea Houston-based Global Marine has an option with Ireland's Harland & Wolff shipyard for construction of a third Glomar 456-design drillship.ÿ The option must be exercised by June 15.ÿ If exercised, the rig would be scheduled for delivery in the second quarter of 2000.ÿ Global Marine recently exercised its option with the yard for construction of its second drillship.ÿ The rig will cost in excess of $300 million and is slated for delivery in the first quarter of 2000.ÿ Global Marine has a letter of intent for a three-year U.S. Gulf/West Africa contract with Exxon. Global Marine jackup GLOMAR ADRIATIC VI will mobilize from the U.S. on dry tow after it completes its contract with Coastal O&G.ÿ The rig will be transported to the North Sea by Dockwise heavy lift vessel TRANSSHELF for a two-year contract with BP beginning in July. Atwood secures submersible extension Houston-based Atwood Oceanics received a six-month contract extension for submersible RICHMOND.ÿ The extension, which is with Chevron, began April 2.ÿ Chevron still holds an additional six-month option on the rig. Pride jackups ink new deals Triton awarded a one-year contract to jackup PRIDE NEW MEXICO starting in early July.ÿ The rig is firm through June with Burlington Resources.ÿ Jackup PRIDE WYOMING received a three-month contract extension from Murphy E&P.ÿ The rig is under contract until mid-August. ADTI boasts turnkey success Houston-based Global Marine's U.S. turnkey subsidiary, Applied Drilling Technology (ADTI), said it drilled more wells than any other drilling contractor in the Gulf of Mexico during 1997.ÿ The contractor drilled about 10 percent of all wells spud in the U.S. Gulf and 75 percent of the Gulf's turnkey wells.ÿ ADTI drilled 103 turnkey wells.ÿ ADTI contributed annual revenues of $427 million to Global Marine in 1997. Looks bad out there! Regards

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