Transocean Sedco Forex, Port Harcourt, Rivers, Nigeria

(Potential Takeover Target) MODU Pacific Drilling Draws Interest as Target: Bloomberg Business

http://www.bloomberg.com/news/articles/2015-06-11/pacific-drilling-draws-interest-as-cheap-deepwater-target-m-a
I launched a discussion on this a month ago when Hercules filed for Bankruptcy.
http://redd.it/3ach2z
Pacific "PACD" is currently at $2.55
It seems to further my thoughts that sometime this year I see acquisitions of smaller drilling companies by larger companies. With the glut of rigs, it makes no sense to continue building them and add to the oversupply but simply purchase other companies with a modern fleet and contracts and assume their work.
Personally, I see Transocean "RIG" making the first buy during this downturn.
  1. They have a large line of untapped credit.
  2. The Macondo Settlement is closed and they were fined no where near what they expected.
  3. Due to Macondo they didn't build rigs without contracts so their glut is with their existing fleet.
  4. They've retired half of their fleet, from 120 rigs down to 65 in the fleet at the moment, and still not finished. This has brought their average age up to 10-15 yrs of rig age.
Now here's where the big points come into play.
  1. Transocean has been built on Mergers and buyouts. Ex: Aker, Global Santa Fe, R&B Falcon, Sedco, Forex.....
  2. The new CEO is from NOV "NOV $44.16" which is a company built on aggressive takeovers and mergers of other companies.
Right now, I don't see any big mergers between the giants, but more so a slaughterhouse amongst all the smaller players who own 3-5 newer rigs and don't have the capitol to maintain them.
Maersk "MAERSKB" is another rumored favorite for doing takeovers. Ocean Rig "ORIG $4.71" on the other hand seems prime to be bought out.
Only time will tell.
submitted by Corte-Real to investing [link] [comments]

Sedco Express Oil Rig - Angola 2007 OSHA Safety Training 2017 - YouTube Caring 4 You NCLEX Tutoring - YouTube

Transocean Sedco Forex was now a company worth approximately $14 billion and was the third largest oilfield services company, eclipsed only by Halliburton and Schlumberger. With 165 offshore rigs, inland barges, and supporting assets, the combined company easily outpaced its closest rival, Pride International, with just 59 offshore rigs, of which 45 were shallow-water jackups. Moreover ... Transocean Sedco Forex Reports First Quarter 2002 Results PDF Version HOUSTON, Apr 30, 2002 (BUSINESS WIRE) -- Transocean Sedco Forex Inc. (NYSE:RIG) today announced that net income for the three months ended March 31, 2002, before the cumulative effect of a change in accounting principle, was $77.3 million, or $0.24 per diluted share on revenues of $667.9 million. Transocean Sedco Forex’s drillship Discoverer Spirit holds the world water depth record for a subsea completion as well as the record for the deepest water well, both in the US Gulf of Mexico. Block 903 in the Gulf of Mexico. Transocean set the previous record, which was also a well for Unocal in 9,687 ft of water in the same block. The rig installed and tested BOP equip-ment on October 27 ... Transocean Sedco Forex Formerly GlobalSantaFe. All information provided "as is" and for informational purposes only. Neither NGEX nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. Transocean Sedco Forex Inc., announced that W. Dennis Heagney, executive vice president and chief operating officer, will retire from the company in June 2002, after 33 years of service. Home; Sedco Forex Offshore to merge with Transocean. Schlumberger Ltd., Paris, has agreed to spin off its offshore contract drilling unit, Sedco Forex Offshore, in order to unite it with ... Transocean Sedco Forex Inc. is the world's largest offshore drilling company and the fourth largest oilfield service company overall. Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16,000 employees located around the globe. Transocean's drilling rigs and work crews are contracted by petroleum companies at a day rate, over the course of long-term and ... Transocean Offshore Inc. announced today that its shareholders on December 10 approved proposals relating to the merger of Transocean Offshore and Sedco Forex, the offshore contract drilling ... At Transocean, we are closely monitoring and following guidance provided by the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC) to protect and keep our workers offshore and onshore healthy and safe. Learn more about our efforts below. COVID-19 . PRESS RELEASE / 11.02.2020 - Transocean Ltd. Reports Third Quarter 2020 Results read more > PRESS RELEASE ...

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Sedco Express Oil Rig - Angola 2007

A short film of life offshore in Angola 2007 Animation of deepwater drilling For tutoring please call 856.777.0840 I am a registered nurse who helps nursing students pass their NCLEX. I have been a nurse since 1997. I have worked in a... #OSHA #oshatraining #oshaguidelines Safety in the workplace is important for all employees. OSHA, the Occupational Safety and Health Administration, is a fed...

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