GlobalSantaFe Corporation

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.

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

History

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
  1. "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.
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