Diamond M Orders Two Jackup Rigs And A Semisubmersible
The board of directors of Diamond M Drilling Company, Houston, TexasJbased international drilling contractor, has authorized the construction of two new selfelevating jackup drilling rigs and a self-propelled semisubmersible drilling vessel.
The jackups are to be constructed at Levingston Shipbuilding Co.
in Orange, Texas, and are scheduled for completion in September 1975 and February '1976. The new semi is to be built by Alabama Dry Dock & Shipbuilding Company, Mobile, Ala., and delivery is scheduled for November 1975. It will be the third Diamond M-Korkut designed and semisubmersible built by Diamond M at Alabama Dry Dock. The first was delivered on November 5, 1973. The second is scheduled to be delivered in August 1974 for work in the Gulf of Mexico.
Additional shipyard costs due to revised plans and specifications have increased the original cost estimate for this second semi from $1 Sy2 million to $25^ million.
The addition of these new mobile rigs will bring the company's mobile offshore rig construction program— which began in 1972—to over $120 million.
Diamond M chairman and chief executive officer Don E. McMahon said the company has executed definitive agreements in connection with the previously announced venture with a group of Norwegian investors with respect to the construction supervision and management of another self-propelled semisubmersible drilling vessel of the Diamond M-Korkut design. This Norwegian rig will also be built at Alabama Dry Dock, and delivery is scheduled for July 1975. The rig will be owned by a newly formed Norwegian company, in which Diamond M will have a 20 percent interest.
Diamond M now owns 12 barge rigs, four self-contained platform rigs, a self-propelled drilling tender, a self-elevating mobile platform, and one twin-hull propulsion assisted semisubmersible drilling vessel.
The company's equipment is currently located off the Texas and Louisiana coasts and offshore Aracaju, Brazil.
Other stories from February 15, 1974 issue
- NASSCO Launches Largest Vessel Ever Built On West Coast page: 7
- Walter Thorsen, Inc. Named Exclusive Rep For Eleusis Shipyards page: 8
- Oceans International Announces Merger And Expansion Plans page: 10
- McAllister Orders Three 4,290-Hp Tugs page: 11
- Bethlehem Begins Construction On 265,000-Dwt Tanker —Largest Vessel Built In The United States page: 12
- Arthur Levy Boat Service Announces New Appointments For Thomas And LeBlanc page: 12
- Todd President Sees U.S. Shipbuilders Improving Competitive Position page: 14
- Society Of Marine Port Engineers N.Y. Discuss Care Of Turbine And Hydraulic Oil Systems page: 14
- Harwich Tonnage, Inc. Formed In California page: 15
- K.W. Waldorf Named To New Zapata Post page: 15
- Bigger, Bigger . . . Bigger page: 18
- USMMA At Kings Point To Admit Women page: 19
- Storm Awards Contract To Bethlehem Beaumont Shipyard For Offshore Drilling Rig page: 20
- NASSCO Expanding Facilities To Build 150,000-Ton Tankers page: 20
- SNAME N.Y. Metropolitan Section Hears Technical Paper On 'New Approach To The Ship Hull Characteristics Problem' page: 21
- ASNE Annual Meeting Set For May 2-3 In Washington, D.C. page: 21
- Thomas B. Crowley Elected President At Western Shipbuilding Ass'n Annual Meeting page: 24
- FMD Appoints Sanchez To Direct Field Operations page: 25
- Alco Engines Names Comeng Holdings Ltd. Australian Licensee page: 25
- Friede & Goldman Inc. Design Zapata Rigs Building At Avondale page: 28
- Sea Trials And Launching Ceremonies Held For AMOCO Tankers At Astilleros Espanoles page: 28
- Ametco Shipping Elects J.E. Hundt President page: 29
- World Dredging Ass'n New Midwest Chapter To Meet February 28 page: 29
- L. Arthur Strenkert Named Sales Manager Smit Nymegen Corp. page: 31
- Magnavox Announces Offshore Drill Rig Positioning System page: 31
- Paper On Water jet Propulsion Discussed During SNAME Philadelphia Section Meeting page: 32
- Worthington Service Corp. Names Budrick And lennings page: 33
- Zapata Corporation Reports Record Results page: 33
- Drew Chemical Names Rogers Managing Director New So. Africa Subsidiary page: 33
- Luckenbach To Build New Tampa Terminal page: 33
- SNAME Players Perform At Pacific Northwest Section's 27th Annual Fall Meeting page: 33
- David O'Neil To Head New Firm Of Marine Propulsion Consultants page: 34
- Liberian Services —Consulting Firm Elects Wiswall Pres. page: 35
- Diamond M Orders Two Jackup Rigs And A Semisubmersible page: 35
- Management Changes At Dearborn-Storm page: 36
- Tanker Management Firm Promotes Nichols page: 36
- Raytheon Company Submarine Signal Div. Appoints R.G. Popovici page: 38
- Berwind Lines Names Bericochea Exec. VP page: 38