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

Industry	Petroleum industry
Founded	November 20, 2001; 22 years ago (2001-11-20)
Defunct	November 27, 2007; 16 years ago (2007-11-27)
Fate	Acquired by Transocean
Headquarters	Houston, Texas
Key people	Jon A. Marshall, CEO Michael R. Dawson, CFO
Services	Offshore drilling
Revenue	$3.312 billion (2006)
Net income	$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. Archived from the original on 2015-04-03. Retrieved 2018-12-07.
2. "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.
3. "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.
4. "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.
5. "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.
6. "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.
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. Archived from the original on December 9, 2018. Retrieved December 7, 2018.
9. "Transocean Announces Closing of Merger with GlobalSantaFe" (Press release). Transocean. November 27, 2007. Archived from the original on December 9, 2018. Retrieved December 7, 2018.