GlobalSantaFe Corporation

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GlobalSantaFe Corporation
IndustryPetroleum industry
FateAcquired by Transocean
FoundedNovember 20, 2001; 17 years ago (2001-11-20)
DefunctNovember 27, 2007; 11 years ago (2007-11-27)
HeadquartersHouston, Texas
Key people
Jon A. Marshall, CEO
Michael R. Dawson, CFO
ServicesOffshore drilling
RevenueIncrease $3.312 billion (2006)
Increase $1.006 billion (2006)
Total assetsDecrease $6.220 billion (2006)
Total equityDecrease $4.847 billion (2006)
Footnotes / references
[1]

GlobalSantaFe Corporation was an offshore drilling contractor headquartered in Houston, Texas. It owned 59 marine drilling rigs.[1] In November 2007, the company was acquired by Transocean.

History[edit]

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]

In August 2004, one of the company's rigs sank in the Mediterranean Sea about 25 miles offshore Egypt after a fire broke out on the rig.[7]

In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs.[8]

In November 2007, the company was acquired by Transocean.[9]

References[edit]

  1. ^ a b "GlobalSantaFe Corporation 2006 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Global Marine, Santa Fe International complete merger". American City Business Journals. November 20, 2001.
  3. ^ "GlobalSantaFe to suspend drilling operations in Kuwait". Oil & Gas Journal. March 14, 2003.
  4. ^ "GlobalSantaFe to halt Kuwait drilling operations". American City Business Journals. March 14, 2003.
  5. ^ "GlobalSantaFe and Precision Drilling Corporation Closes Sale of Land Drilling Business" (PDF) (Press release). May 21, 2004.
  6. ^ "Precision Drilling buying overseas rig operations for $316.5M US". CBC. April 2, 2004.
  7. ^ "GlobalSantaFe rig sinks offshore Egypt". American City Business Journals. August 10, 2004.
  8. ^ Crane, Mary (June 1, 2006). "GlobalSantaFe, Saudi Aramco Sign Drilling Deal". Forbes.
  9. ^ "Transocean Announces Closing of Merger with GlobalSantaFe" (Press release). Transocean. November 27, 2007.