Diamond Offshore confirms it has received a one-well contract from Marathon Oil for semi Ocean Monarch. Work in Garden Banks Block 515 is scheduled to begin in early May and should last around 60 days. The rig has been idle since June 2010 when Anadarko, which has the rig under contract to March 2013, declared it was terminating the contract via force majeure. Diamond disputed the claim, resulting in a litigation that has yet to be resolved.
Nabors Offshore workover platform rig Sundowner IV has completed its two-well contract with Merit Energy in Vermilion Block 408. With no follow-up work in place, Nabors has mobilized the rig back to New Iberia where it is hot stacked.
Basic Marine Services reports it is refurbishing workover inland barge Basic Marine Rig 15. The rig, which had been idle since December 2008, is now at the Bollinger Shipyard facility in Amelia where work is scheduled to be completed in late May. At present, Basic does not have a contract in place for the rig.
Hercules Offshore reports jackup Hercules 204 completed work in Eugene Island Block 113 for LLOG Exploration and the rig is now stacked on location. It is understood Hercules is currently in discussions for a followup contract, but details are not yet available.
Ensco, plc has received a contract from Arena Offshore that will likely keep jackup ENSCO 90 busy through August. The 90-120 day contract in Matagorda Island Blocks 668/669 should begin around May 20 after work on the current well in Eugene Island Block 208 for Northstar Offshore is completed. In addition, reports indicate Ensco will likely receive contract extensions for additional rigs this week or next. Details of the awards will be reported once they become available.
Jackups Noble Gene Rosser and Noble Lewis Dugger have departed the US Gulf, headed to Mexico where they will work under contracts with PEMEX. The Gene Rosser has a 248-day contract due to begin April 28 while the Lewis Dugger’s 588-day contract begins April 27. Noble now has two jackups remaining in the US Gulf. The Noble Sam Noble is stacked, but will be bid on upcoming PEMEX tenders, while the Noble Johnnie Hoffman is scheduled to begin a 590-day program with PEMEX on May 22.
Noble Corporation reports it had a first quarter 2011 net income of $54.45 million on revenues of $543 million. That compares to the a net income of $99 million on revenues of $614 million for the final three months of 2010. Ensco, plc reported first quarter 2011 net income of $65.5 million on revenues of $361.5 million versus a net income of $191.6 million on revenues of $448.6 million for the first quarter of 2010.
Diamond Offshore Drilling, Inc. reported net income for the first quarter of 2011 of $250.6 million, or $1.80 per share on a diluted basis, compared with net income of $290.9 million, or $2.09 per share on a diluted basis, in the same period a year earlier. Revenues in the first quarter of 2011 were $806.4 million, compared with revenues of $859.7 million for the first quarter of 2010.
Ensco, plc reported diluted earnings per share from continuing operations of $0.45 for first quarter 2011, compared to $1.12 per share in first quarter 2010. There were no discontinued operations in first quarter 2011. Earnings from discontinued operations in first quarter 2010 were $0.21 per share that included a $34 million pre-tax gain from the sale of two jackup rigs. Diluted earnings per share were $0.45 in first quarter 2011, compared to $1.33 per share in first quarter 2010.