| Type | Public |
|---|---|
| Industry | Oil Equipment & Services |
| Founded | 2001 |
| Headquarters | Houston, Texas |
| Key people | Jon A. Marshall (CEO) |
| Products | Drilling Oil and Gas Exploration |
| Revenue | $2,263.5 million (2005) |
| Operating income | $464.4 million (2005) |
| Net income | 423.4 |
| Employees | ~6,000 (2007) |
| Website | www.deepwater.com |
GlobalSantaFe Corporation, which traded on the NYSE as GSF was an offshore oil and gas drilling contractor, which owned or operating a fleet of 59 marine drilling rigs. With its principal executive offices in Houston, Texas, GlobalSantaFe was one of the largest international drilling contractors, providing offshore drilling services to the world's leading oil and gas companies.
On 23 July 2007, a merger between GlobalSantaFe and larger rival Transocean was announced. [1] The merger was completed on 27 November 2007. The combined company is known as Transocean. [2]
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GlobalSantaFe was the successor to two companies, Global Marine Inc. and Santa Fe International Corporation, which merged in November 2001. Both companies shared a common history of providing quality drilling services dating back to the Union Oil Company of California in 1946. As of June 18, 2007, the Company's fleet included 43 cantilevered jack-up rigs, 11 semi-submersible rigs, three Drillships and two additional Semi-submersible Platforms it operated for third parties under a joint venture agreement.
GlobalSantaFe provided offshore oil and gas contract drilling services to the oil and gas industry worldwide on a daily rate basis. It also provided oil and gas drilling management services on either a day rate or completed-project, fixed-price basis, as well as drilling engineering and drilling project management services, and it also participated in oil and gas exploration and production activities.
GlobalSantaFe provided a range of offshore drilling services to domestic and international oil and gas companies. The company's primary business was providing fully manned mobile drilling rigs to drill offshore. Known as contract drilling, this segment prices its services on a per-day basis, is capital intensive, fixed cost and highly cyclical. All of the company's rigs were designed for international operations and were deployed in most of the significant offshore rig markets in the world, including the U.S. Gulf of Mexico, West Africa, the North Sea, South America, the Middle East/Mediterranean and South East Asia.[3]