Transocean sedco forex international, nz dollar pound ...

Blowout and fire in Iran 1974. My fifth day in the oilfield.

Blowout and fire in Iran 1974. My fifth day in the oilfield.
In 1974 SEDCO had a trainee program for college graduates to enter the drilling business working on the rigs to eventually become toolpushers and rig managers. I had graduated from The University of Texas a year earlier with a business degree and was working with my father running an Exxon owned service station and car wash. I liked working outside and with equipment so when I heard about Sedco hiring I signed up. My friend and college roommate, Dennis Welborn also signed up.
This was September- October 1974 and after a 2 week course at Odessa College our group of 40 trainees were sent overseas. Half went to Aberdeen, Scotland to work offshore 14/14 in the North Sea, and the rest went to Ahwaz, Iran working 14/7 on land rigs. We flew into Abadan Iran landing late one night and were taken by car to the base in Ahwaz. Next morning we had some orientation and were split up and sent to various rigs all over South Iran. Bob Burnett and myself were assigned Rig 77 in Agha Jari field. A driver took us across the desert towards a raised hilly plateau which was atop the oilfield. We went to the portable rig camp, were assigned a shared room, and got ready to start the 12 hour workday the next morning.
We rode with the crew towards our rig about 2 miles away and passed between a rig on one side of the road and some engines and pumps on the other side. Our driller said that the Santa Fe Drilling rig had a blowout after drilling too deep before setting casing without a diverter stack. He said it was flowing gas and a lot of condensate uncontrolled. They had even removed some of the equipment as it was not going to be killed very easily. We passed by it the next few days and then I was put on night tour with my Driller, a Canadian named Charlie Staroba. Charlie was a good guy and easy to get along with.
Eighteen months later I was a very green driller working for him as he was promoted to tour pusher on Sediran Rig 11. That first night Charlie told me to go help change a piston on Mud Pump no. 2 . About 7 PM I was on top of the pump bent over trying to understand what the Iranian crew was doing when Charlie called down to get my attention. I looked up and that rig about a mile away was on fire. That was pretty much the focus of the rest of our tour. Just watching it burn. The fire spread quickly down and through the hills catching all of that week's worth of flowed condensate on fire. Within an hour half the world in front of me was burning with flames going very high and getting closer to us. I distinctly remember saying to myself " what did I get myself into ?"
About 9 PM we were thinking we might have to evacuate . A OSCO pickup drove up and Bill Murchison Sr. got out, introduced himself and took over our small toolpusher office and radio room. He started the 2 month process to bring in Red Adair's team, rig up 2 rigs to drill directional relief wells, and eventually kill the blowout. Charlie and I got off work at 6AM and on the way to our camp drove right up to the burning rig with the mast laid over and took pictures of each other. I have attached the pictures here.
We spent the rest of 1974 drilling our wells and helping to support the blowout killing operation with whatever they asked for. I got to meet Boots Hansen and Coots Mathews, they liked the food in our camp. I eventually realized I liked the drilling business and made a 40 year career of it. I worked up to Driller , Toolpusher, OIM, Rig and Operations Manager of land and offshore operations with Sedco Forex Schlumberger, Pride International, and Weatherford Drilling. I spent 35 years working international, 17 years of that as a resident. I retired in 2014 as a Sr. Country Manager, resident in Dubai and now am a Well Control Instructor at Intertek in Spring, Tx. I show this picture and get to tell this and other stories in my classes. It has been an interesting career and I enjoyed it and the people I met and friends I made.
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(Potential Takeover Target) MODU Pacific Drilling Draws Interest as Target: Bloomberg Business
I launched a discussion on this a month ago when Hercules filed for Bankruptcy.
Pacific "PACD" is currently at $2.55
It seems to further my thoughts that sometime this year I see acquisitions of smaller drilling companies by larger companies. With the glut of rigs, it makes no sense to continue building them and add to the oversupply but simply purchase other companies with a modern fleet and contracts and assume their work.
Personally, I see Transocean "RIG" making the first buy during this downturn.
  1. They have a large line of untapped credit.
  2. The Macondo Settlement is closed and they were fined no where near what they expected.
  3. Due to Macondo they didn't build rigs without contracts so their glut is with their existing fleet.
  4. They've retired half of their fleet, from 120 rigs down to 65 in the fleet at the moment, and still not finished. This has brought their average age up to 10-15 yrs of rig age.
Now here's where the big points come into play.
  1. Transocean has been built on Mergers and buyouts. Ex: Aker, Global Santa Fe, R&B Falcon, Sedco, Forex.....
  2. The new CEO is from NOV "NOV $44.16" which is a company built on aggressive takeovers and mergers of other companies.
Right now, I don't see any big mergers between the giants, but more so a slaughterhouse amongst all the smaller players who own 3-5 newer rigs and don't have the capitol to maintain them.
Maersk "MAERSKB" is another rumored favorite for doing takeovers. Ocean Rig "ORIG $4.71" on the other hand seems prime to be bought out.
Only time will tell.
submitted by Corte-Real to investing [link] [comments]

SEDCO 711 coming in SEDCO EXPRESS Sedco Express Oil Rig - Angola 2007 Drilling Fluids - Mud Part IV Sedco 711 offshore drilling program - YouTube Sedco Express Heli Deck view of Las Palmas Offshore Drilling Rig: Sapura T-18 (GoPro Hero 7 Black)

Transocean Sedco Forex Inc. Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16, employees located around the globe. Transocean's drilling rigs and work crews are contracted by petroleum companies at a day rate, over the course of long-term and short-term contracts. Although the company offers inland drilling barges and shallow water drilling rigs ... CAMAC Energy Inc. (“CAMAC”) announced today that the semi-submersible drilling unit, Sedco Express, has arrived to the Oyo Field located in OML 120 offshore Nigeria. CAMAC has contracted the Sedco Express to expedite the timing of production tie-in from the Oyo-7 and Oyo-8 development wells. The Sedco Express is under contract for use on up to three wells and the Company intends to use the ... Transocean Sedco Forex also holds the deepwater drilling record with the Dis-coverer Spirit for an appraisal well drilled in 9,727 ft of water. The well was drilled for Unocal in Alaminos Canyon 18 DRILLINGCONTRACTOR May/June 2002 Transocean Sedco Forex sets deepwater records Transocean Sedco Forex’s drillship Discoverer Spirit holds the ... Transocean Sedco Forex Inc. is the world's largest offshore drilling company and the fourth largest oilfield service company overall. Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16,000 employees located around the globe. Transocean's drilling rigs and work crews are contracted by petroleum companies at a day rate, over the course of long-term and ... Home; Sedco Forex Offshore to merge with Transocean. Schlumberger Ltd., Paris, has agreed to spin off its offshore contract drilling unit, Sedco Forex Offshore, in order to unite it with ... Related Subsea Oil and Gas Companies, Products, Projects, Drilling Rigs, Pipelines and Jobs. Database Jobs This is a list of worldwide Database jobs in the oil and gas industry. The Database position is categorised as Software and IT jobs, vacancies and careers. There are currently jobs available in Houston, USA,… Transocean Sedco Forex Inc. is the world's largest offshore drilling contractor with more than 160 fully or partially owned or operated mobile offshore drilling units, inland drilling barges and other assets utilized in the support of offshore drilling activities worldwide. The company's mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 31 high ... SEDCO - Southeastern Drilling Company. Founded by Governor Bill Clements in southeastern Mississippi near Brookhaven. Clements worked for Oilwell Supply and knew where two "repossessed" land rigs were. With some investors he bought the rigs and put them to work. Early employees included Bobby Lynch, Rick Kelley, and Joe Bryant to name a few. SEDCO ran rigs from Miss. Sedco Energy: Owner: Sedco Forex International Inc. Manager: Transocean Offshore Deepwater Drilling Inc. Rig Type: Semisub: Sub Type: Ultradeep Water: Jackup Type--Max Water Depth (ft) 7500: Max Drill Depth (ft) 35000: Dimensions (ft) 349 x 226 x 112: Leg Length (ft)--Competitive: Yes Clearly, Transocean Sedco Forex had taken the lead in the consolidation of offshore drilling contractors. Everyone agreed on the need for consolidation, but with so many operators of similar size it was difficult for executives to sort out who was to be the acquirer and who was to be acquired. In 2001 a number of contractors merged, but no one came close to rivaling Transocean Sedco Forex in ...

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SEDCO 711 coming in

Taking in the view of Las Palmas, Gran Canaria from the helicopter landing deck of the Sedco Express ultra deep water semisubmersible oil rig. Drilling rig making its way in to the Cromarty Firth for the first time in at least three years. Sedco Forex / Schlumberger. Writer, Director, Producer, Editor , Camera - Jerry Hodges. Five part detailed instructional video series dealing with the proper use of drilling fluids and ... GoPro Rope Access at Seadrill West Leda Jackup Rig Offshore - Duration: 3:52. Rifaie Ahmad 124,970 views. 3:52 ... Sedco 711 offshore drilling program - Duration: 6:38. corribnaturalgas 29,964 ... Sedco 700 Shallow Gas Blow Out 6 June 2009 11 35am - Duration: 3:48. ... Canadian Drilling Rig - The Worst Connection Ever - Duration: 4:09. Seanatronable 1,023,779 views. 4:09 . tombua landana ... Sedco 700 Shallow Gas Blow Out 6 June 2009 11 35am - Duration: 3 ... Life on an Offshore Oil Rig...with PV DRILLING! - Duration: 11:27. Stocks Around Us Money Channel 11,690 views. 11:27 ... Program highlighting the underwater drilling operation - March - October 2007