Statoil ASA, together with partners Eni Norge AS and Petoro AS, is about to complete drilling of appraisal well 7220/5-1 in the Skrugard discovery in the Barents Sea. The objectives of the appraisal well were to confirm the previous volume estimate for the Skrugard discovery and to collect reservoir and overburden data for field development [...]
March 6, 2012 | Posted in
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Read More » Endeavour International Corporation reported fourth quarter 2011 net income (loss), as adjusted of $(5.8) million compared to $81.1 million for 2010, when it reported an $87 million gain on the sale of its North Sea asset Cygnus. On a GAAP basis, net loss for the fourth quarter of 2011 was $44.6 million as compared to [...]
February 29, 2012 | Posted in
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Royal Netherlands Navy Locate Two Drowning Victims with VideoRay ROVs within Two Months of the Systems Being Delivered On January 10, 2012 VideoRay LLC of Phoenixville, PA, along with Dutch partner Nautikaris BV of Ijmuiden, Netherlands, completed the site acceptance test of four VideoRay Pro 4 submersible systems with spare parts, accessories, and custom modifications [...]
February 28, 2012 | Posted in
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Read More » Dril-Quip, Inc.announced net income of $28.1 million, or $0.70 per diluted share for the three months ended December 31, 2011, versus net income of $20.9 million, or $0.52 per diluted share for the fourth quarter of 2010. Total revenues were $171.6 million during the quarter ended December 31, 2011 compared to $141.6 million for the [...]
February 28, 2012 | Posted in
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Read More » - 2011 was a year of good progress for GC Rieber Shipping, said CEO Irene W. Basili as the Company announced fourth quarter and full year financial figures today. - Operating revenue increased by NOK 65 million and operating profit before depreciation and capital gains by NOK 91 million. This reflects the fact that we [...]
February 24, 2012 | Posted in
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Read More » Superior Energy Services, Inc. announced net income of $19.4 million, or $0.24 per diluted share on record revenue of $580.0 million for the fourth quarter of 2011, and non-GAAP adjusted net income of $54.6 million, or $0.67 per diluted share, after excluding the following: * A pre-tax, non-cash $46.1 million reduction in the asset value [...]
February 24, 2012 | Posted in
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Read More » A leading subsea training centre has reported an increase in employment of their students, with 50% of one class being employed within a week of graduating. The Underwater Centre, Fort William saw half of a recent ROV class employed by leading providers of subsea services to the oil and gas industry, DOF Subsea, following the [...]
February 22, 2012 | Posted in
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Read More » Du issues an alert to its customers regarding the possible degradation of internet services as a result of an international submarine cable cut between Dubai and Oman. The cable cut may affect some Internet users who may witness degradation in internet speed as the company expects some slowness especially in peak times. „We would like [...]
February 21, 2012 | Posted in
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Read More » Aker Solutions reported an 18 percent increase in revenues and a solid operating result in the fourth quarter of 2011, reflecting strong market conditions and high activity in the oil and gas industry. Revenues in the fourth quarter of 2011 amounted to NOK 11 600 million, compared with NOK 9 794 million in the same [...]
February 17, 2012 | Posted in
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Read More » ABB reported an increase in profitability in the fourth quarter of 2011 on a combination of strong revenue growth and cost savings. For 2011, the company reached $40 billion in orders for the first time ever and reported record revenues of $38 billion. Operational EBITDA, the measure of profitability tracked by management, rose 18 percent [...]
February 16, 2012 | Posted in
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