GlobalSantaFe Corp., Houston, (NYSE: GSF) and Transocean Inc., Houston, (NYSE: RIG) plan to combine in a merger of equals with an estimated enterprise value of approximately $53 billion. GlobalSantaFe provides offshore oil and gas contract drilling services primarily in the U.S. Gulf of Mexico, the North Sea, West Africa, the Mediterranean Sea, Southeast Asia, South America, the Middle East and eastern Canada. As of year-end 2006, the company owned and operated a fleet of 59 marine drilling rigs, including 43 cantilevered jackup rigs, 11 semisubmersible rigs, three drillships, and two additional semisubmersible rigs. Transocean provides offshore contract drilling services primarily in the Far East, India, U.S. Gulf of Mexico, U.K. Nigeria, the Mediterranean and Middle East, Brazil, Norway, other West African countries, Australia, Canada, the Caspian Sea, and Venezuela. As of Feb. 2, the company owned and operated 82 mobile offshore and barge drilling units, including 33 high-specification semisubmersibles and drillships, 20 floaters, 25 jackup rigs, and four other rigs.
Recommended Reading
The New Minerals Frontier Expands Beyond Oil, Gas
2025-04-09 - How to navigate the minerals sector in the era of competition, alternative investments and the AI-powered boom.
Q&A: Where There’s a Williams, There’s a Way for Gas
2025-04-09 - Midstream giant Williams Cos. leads the natural gas bulls on the great infrastructure buildout, President and CEO Alan Armstrong tells Hart Energy.
Phillips 66 Urges Shareholders to Vote Against Elliott at Annual Meeting
2025-04-08 - Phillips 66’s board of directors is again pushing against one of its largest investors—Elliott Investment Management—with a letter to shareholders detailing how to vote against the investment company at its upcoming annual meeting.
NRG’s President of Consumer Rasesh Patel to Retire
2025-04-07 - NRG Energy anticipates naming a successor during the second quarter. Patel will remain in an advisory role during the transition.
PE Firm Andros Capital Partners Closes $1 Billion Energy Fund
2025-04-07 - Andros Capital Partners maintains a flexible investment mandate, allowing the firm to invest opportunistically across the capital structure in both public and private equity or debt securities.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.