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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]
The three most quoted oil products are North America's West Texas Intermediate crude (WTI), North Sea Brent Crude, and the UAE Dubai Crude, and their pricing is used as a barometer for the entire petroleum industry, although, in total, there are 46 key oil exporting countries. Brent Crude is typically priced at about $2 over the WTI Spot price ...
On 16 July 2002, G-BJVX, a Sikorsky S-76A helicopter operated by Norwich-based Bristow Helicopters, crashed into the southern North Sea while it was making a ten-minute flight between the gas production platform Clipper and the drilling rig Global Santa Fe Monarch, after which it was to return to Norwich Airport. The 22-year-old helicopter was ...
Icahn claims that management "destroyed approximately $11 billion of shareholder value," primarily through its 2007 acquisition of fellow driller Global Santa Fe.
Global Marine, a drilling contractor which merged with Santa Fe International Corporation to form GlobalSantaFe Corporation. Now part of Transocean. Glomar Challenger, the drillship used for the Deep Sea Drilling Project; Glomar Explorer, a large salvage vessel built by the CIA
Apr. 12—The state wants a Santa Fe judge to dismiss a major lawsuit that alleges oil and gas production and pollution allowed by New Mexico violates the Constitution. Arguments to allow the ...
In 1967, the Offshore Company went public. In 1978, SNG turned it into a wholly owned subsidiary. In 1982, it was changed to Sonat Offshore Drilling Inc., reflecting a change in its parent's name. William C. O'Malley, an executive at Sonat's headquarters in Birmingham, was named the company's first Chief Executive Officer in 1992.
This year, Sable Offshore Corp., a Houston-based energy company, purchased the mothballed equipment and announced plans to restart oil extraction by the end of the year — including the failed ...