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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]
Shareholders of GlobalSantaFe Corporation received $15 billion of cash as well as stock in the new company for their shares. Robert E. Rose, who was non-executive chairman of GlobalSantaFe, was made Transocean's chairman. Rose had been chairman of Global Marine prior to its 2001 merger with Santa Fe International Corporation. [17]
MODU – mobile offshore drilling unit (either of jack-up drill rig or semi-submersible rig or drill ship) MOF – marine offloading facility; MOPO – matrix of permitted operations; MOPU – mobile offshore production unit (to describe jack-up production rig, or semi-submersible production rig, or floating production, or storage ship)
Icahn claims that management "destroyed approximately $11 billion of shareholder value," primarily through its 2007 acquisition of fellow driller Global Santa Fe.
Get breaking Business News and the latest corporate happenings from AOL. From analysts' forecasts to crude oil updates to everything impacting the stock market, it can all be found here.
The Oslo Stock Exchange (Norwegian: Oslo Børs) serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 4:30pm local time ( CET ). In addition to a wide range of domestic companies, the OSE attracts a lot of international companies within petroleum , shipping and other related areas.
US stocks ended Friday in the red, closing out a lackluster week despite a year of historic highs. The “Magnificent Seven” group of high-performing tech stocks — Alphabet, Amazon, Apple ...
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