GlobalSantaFe Corporation

Last updated
GlobalSantaFe Corporation
Industry Petroleum industry
FoundedNovember 20, 2001;23 years ago (2001-11-20)
DefunctNovember 27, 2007;17 years ago (2007-11-27)
FateAcquired by Transocean
Headquarters Houston, Texas
Key people
Jon A. Marshall, CEO
Michael R. Dawson, CFO
Services Offshore drilling
RevenueIncrease2.svg $3.312 billion (2006)
Increase2.svg $1.006 billion (2006)
Total assets Decrease2.svg $6.220 billion (2006)
Total equity Decrease2.svg $4.847 billion (2006)
Footnotes /references
[1]

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. [2]

History

The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation. [3]

In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War. [4] [5]

In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million. [6] [7]

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. [8]

In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs. [9]

In November 2007, the company merged with Transocean. [2]

References

  1. 1 2 "GlobalSantaFe Corporation 2006 Form 10-K Annual Report". U.S. Securities and Exchange Commission. Archived from the original on 2015-04-03. Retrieved 2018-12-07.
  2. 1 2 "Transocean and GlobalSantaFe's Slick Union". Forbes. Retrieved 2025-08-19.
  3. ↑ "Global Marine, Santa Fe International complete merger". American City Business Journals . November 20, 2001. Archived from the original on June 13, 2008. Retrieved December 7, 2018.
  4. ↑ "GlobalSantaFe to suspend drilling operations in Kuwait". Oil & Gas Journal . March 14, 2003. Archived from the original on December 9, 2018. Retrieved December 7, 2018.
  5. ↑ "GlobalSantaFe to halt Kuwait drilling operations". American City Business Journals . March 14, 2003. Archived from the original on October 13, 2003. Retrieved December 7, 2018.
  6. ↑ "GlobalSantaFe and Precision Drilling Corporation Closes Sale of Land Drilling Business" (PDF) (Press release). May 21, 2004. Archived (PDF) from the original on December 9, 2018. Retrieved December 7, 2018.
  7. ↑ "Precision Drilling buying overseas rig operations for $316.5M US". CBC . April 2, 2004. Archived from the original on November 3, 2021. Retrieved December 7, 2018.
  8. ↑ "GlobalSantaFe rig sinks offshore Egypt". American City Business Journals . August 10, 2004.
  9. ↑ Crane, Mary (June 1, 2006). "GlobalSantaFe, Saudi Aramco Sign Drilling Deal". Forbes . Archived from the original on December 9, 2018. Retrieved December 7, 2018.
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