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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 5351 times)

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AGelbert

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Agelbert NOTE: As you will learn, these floating drill rigs were previously cold stacked. That means they put them out of service HOPING to return them to service when oil prices "went up". Massive increases in Renewble Energy from both solar and wind has kept that from happening.   The fact that these rigs will now be scrapped makes it crystal clear to an objective observer that Transocean fossil fuelers cannot figure out any way to make money out of them for the forseeable future (i.e. for at least 20 years - the average life of one of these floaters before scrapping). GOOD!

Transocean to Scrap Six Floaters from Fleet

September 22, 2017 by gCaptain

Sedco Express File photo

Transocean has announced its plan to scrap six deepwater and ultra-deepwater floating drilling rigs, aka “floaters”, as the offshore drilling company continues to shed older and less-competitive rigs from its fleet.

The floaters to be retired include the ultra-deepwater floaters GSF Jack Ryan, Sedco Energy, Sedco Express, Cajun Express, and Deepwater Pathfinder, and the deepwater floater Transocean Marianas. The rigs will be classified as held for sale and will be recycled in an environmentally responsible manner.

All six rigs were previously cold stacked.

Transocean says it will recognize an impairment charge of approximately $1.4 billion during the third quarter of 2017 as a result of the sale.

“We continue to enhance the quality of our fleet through the addition of new, high-specification assets, and the retirement of older, less competitive rigs,” said Jeremy Thigpen, President and Chief Executive Officer. “We remain committed to providing our customers with the most technically capable and highest quality ultra-deepwater and harsh environment assets in the industry, and will continue to objectively evaluate our rigs and high-grade our fleet as the market evolves.”

Following the retirement and sale of the six rigs, Transocean will own and operate a fleet of 38 mobile offshore drilling units  >:( consisting of 25 ultra-deepwater floaters, seven harsh environment floaters, two deepwater floaters and four midwater floaters.

http://gcaptain.com/transocean-to-scrap-six-floaters/
This poor man cried, and the Lord heard him, and saved him out of all his troubles.. -- Psalm 34:6

 

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