GlobalSantaFe Corporation explained
| GlobalSantaFe Corporation |
| Fate: | Acquired by Transocean |
| Key People: | Jon A. Marshall, CEO
Michael R. Dawson, CFO |
| Industry: | Petroleum industry |
| Services: | Offshore drilling |
| Revenue: | $3.312 billion (2006) |
| Net Income: | $1.006 billion (2006) |
| Assets: | $6.220 billion (2006) |
| Equity: | $4.847 billion (2006) |
| Footnotes: | [1] |
GlobalSantaFe Corporation was an offshore drilling contractor headquartered in Houston, Texas. It owned 59 marine drilling rigs.[1] In November 2007, the company was acquired by Transocean.
History
The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation.[2]
In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War.[3] [4]
In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million.[5] [6]
In August 2004, one of the company's rigs sank in the Mediterranean Sea about 25 miles offshore Egypt after a fire broke out on the rig.[7]
In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs.[8]
In November 2007, the company was acquired by Transocean.[9]
Notes and References
- Web site: GlobalSantaFe Corporation 2006 Form 10-K Annual Report . . 2018-12-07 . 2015-04-03 . https://web.archive.org/web/20150403070524/http://www.sec.gov/Archives/edgar/data/1038914/000119312507042757/d10k.htm . live .
- News: Global Marine, Santa Fe International complete merger . . November 20, 2001 . December 7, 2018 . June 13, 2008 . https://web.archive.org/web/20080613162519/http://www.bizjournals.com/dallas/stories/2001/11/19/daily19.html . live .
- News: GlobalSantaFe to suspend drilling operations in Kuwait . . March 14, 2003 . December 7, 2018 . December 9, 2018 . https://web.archive.org/web/20181209124327/https://www.ogj.com/articles/2003/03/globalsantafe-to-suspend-drilling-operations-in-kuwait.html . live .
- News: GlobalSantaFe to halt Kuwait drilling operations . . March 14, 2003 . December 7, 2018 . October 13, 2003 . https://web.archive.org/web/20031013011738/http://www.bizjournals.com/houston/stories/2003/03/10/daily47.html . live .
- GlobalSantaFe and Precision Drilling Corporation Closes Sale of Land Drilling Business . May 21, 2004 . December 7, 2018 . December 9, 2018 . https://web.archive.org/web/20181209124629/http://s2.q4cdn.com/639056707/files/doc_news/2004/04-May-21-GlobalSantaFe.pdf . live .
- News: Precision Drilling buying overseas rig operations for $316.5M US . . April 2, 2004 . December 7, 2018 . November 3, 2021 . https://web.archive.org/web/20211103182200/https://www.cbc.ca/news/business/precision-drilling-buying-overseas-rig-operations-for-316-5m-us-1.470265 . live .
- News: GlobalSantaFe rig sinks offshore Egypt . . August 10, 2004.
- News: GlobalSantaFe, Saudi Aramco Sign Drilling Deal . Mary . Crane . . June 1, 2006 . December 7, 2018 . December 9, 2018 . https://web.archive.org/web/20181209124739/https://www.forbes.com/2006/06/01/globalsantafe-0601markets05.html . live .
- Transocean Announces Closing of Merger with GlobalSantaFe . . November 27, 2007 . December 7, 2018 . December 9, 2018 . https://web.archive.org/web/20181209165214/https://www.deepwater.com/news/detail?ID=1081502 . live .
