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Subsea 7 Profit Declines

July 31, 2015

Subsea 7 announced revenue for the second quarter 2015 of $1.4 billion, a decrease of $553 million or 29% compared with Q2 2014.  Adjusted EBITDA for the quarter was $275 million, a decrease of $178 million compared to Q2 2014. Adjusted EBITDA margin was 20%, compared with 24% in Q2 2014. The reduction in Adjusted EBITDA reflected the… Continue Reading »

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WHAT IS A COMMERCIAL DIVING ATTORNEY?

July 31, 2015

A commercial diving attorney is charged with the responsibility of assisting an injured diver and his or her family, typically at a very precarious time in their lives. An injured diver may be facing significant economic issues while simultaneously dealing with potentially devastating injuries. A commercial diving attorney understands that the injured diver has his… Continue Reading »

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Hercules Needs A Hero As Share Prices Sink

July 31, 2015

Trading at less than it costs to sneak a treat through a gumball machine, Hercules Offshore Inc.’s (NYSE: HERO) share prices – 14 cents a pop – are reflecting its precarious bankruptcy status. By midday Tuesday, it was clear there’s blood in the water for other offshore drillers, too: Diamond Offshore Drilling’s (NYSE: DO) deepwater… Continue Reading »

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Statoil Starts Production from Gullfaks South

July 31, 2015

Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea started on 27 July. GSO will increase the output from the Gullfaks area by around 65 million barrels of oil equivalent. “GSO demonstrates how we can increase recovery and profitability by use of standardised, simplified development solutions tied to… Continue Reading »

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Alcatel-Lucent, Quintillion to Build Subsea Cable in Alaska

July 30, 2015

Alcatel-Lucent Submarine Networks (ASN) and Quintillion Subsea Holdings LLC have entered into a turnkey contract for the design and construction of a submarine cable system from Prudhoe Bay to Nome. ASN has started marine route survey and installation activities for the implementation of the system. With a capacity of at least 10 terabits-per-second (Tbit/s) per fiber… Continue Reading »

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UK Oil, Gas Industry Companies More Optimistic in 2Q

July 30, 2015

Companies in the UK oil and gas industry are becoming more optimistic about the sector, according to Oil & Gas UK’s latest Business Sentiment Index (BSI). Published Wednesday, the BSI for the second quarter of 2015 reveals that respondents returned a score of minus 27 on a -50/+50, which marked a four point increase from… Continue Reading »

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TE SubCom, Nistica Deliver WSS Modules for Undersea Links

July 30, 2015

TE SubCom, a TE Connectivity Ltd. company, and Nistica, a Fujikura subsidiary, announced the availability of fully qualified wavelength selective switch (WSS) modules to be used in undersea networks. The joint development program between TE SubCom and Nistica focused on a rigorous design and development process to ensure the high-reliability requirements of undersea systems were… Continue Reading »

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Total Likely to Get Rights to Explore for Oil, Gas Offshore Sri Lanka

July 30, 2015

France’s Total S.A. is expected to be granted the rights to explore for oil and gas off the eastern coast of Sri Lanka following the exit of Cairn India Ltd. from the Mannar Basin, a senior official of the country’s Power and Energy Ministry said, as quoted by local media The Sunday Times. The Sri… Continue Reading »

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Subsea 7’s Seven Rio Begins Sea Trials

July 30, 2015

Subsea 7’s Seven Rio left the Huisman Schiedam quayside for her sea trials, after the installation of a 550mt Pipelay Tower. The company informed through their social media that the vessel will return to Huisman Schiedam in early August for the finalization of the Huisman scope of work. In November last year, IHC successfully launched… Continue Reading »

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