Diamond Offshore in double rig stack and scrap

Ocean Star

Drilling contractor Diamond Offshore has decided to cold stack one semi-submersible drilling rig and one jack-up rig, and scrap two semi-subs. 

The company said on Monday in its 2Q 2016 report it decided to cold stack the semi-sub Ocean Endeavor and jack-up rig Ocean Scepter.

The Ocean Endeavor, built in 2007, is located in Italy, and the Ocean Scepter, built in 2008, is located in the U.S. Gulf of Mexico.

The company’s decision was guided by its desire to minimize costs associated with the rigs, while ensuring the rigs are preserved in such a manner as to enable a quick reactivation when the market recovers, Diamond said.

Additionally, the company said it intends to scrap two semi-sub rigs, the 1973-built Ocean Quest and 1997-built Ocean Star. The rigs are located in Malaysia and the U.S. Gulf of Mexico, respectively.

Furthermore, Diamond reported in its fleet status report on Monday it received a three-month contract extension from Woodside Energy in Australia for the 2014-built semi-sub Ocean Apex. The extension is from mid-November 2017 till mid-February 2018, with a dayrate of $205,000.

The company fell to red during the second quarter of 2016 impacted by impairment charges and related taxes of $612 million.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply