CATEGORIZED | Departments, News

People & Company News

Posted on 11 November 2009

ENSCO proposes change in corporate structure

Ensco International has approved a plan to change the company’s legal domicile from Delaware to the UK, where the corporate headquarters would be relocated. Most of the company’s senior executive officers would be based in the UK under the contemplated restructuring, which is subject to approval by the majority of company stockholders.

Ensco’s Board believes the plan would provide many benefits, including:

• Enhance management efficiencies resulting from the UK time zone overlap with geographies where Ensco operates;

• Improve access to key customers;

• Enhance access to European institutional investors;

• Improve customer and investor perceptions that Ensco is a truly global offshore drilling contractor with expanding deepwater operations; and

• Allow Ensco to benefit from the UK’s developed tax regime and extensive tax treaty network, and potentially achieve a global effective tax rate comparable to that of some of Ensco’s global competitors.

Groundbreaking on InterMoor facility

InterMoor, an Acteon company, recently broke ground on its new facility in Morgan City, La. More than 80 guests were on hand for the ceremony, including Louisiana Gov. Bobby Jindal, Morgan City Mayor Tim Matte and Port of Morgan City President Mac Wade.

The new facility will feature more than 30,000 sq ft of fabrication space, including a high-tech CNC cutting machine, mooring equipment and storage capabilities; a 12,000-sq-ft multi-purpose building for administrative and operations employees; a 7,500-wire doping area to inspect, protect and prepare wire rope for offshore jobs; a 20,000-sq-ft blasting and painting facility; and a 300-ton crane to enhance docking services.

The $17.2 million capital investment will allow the company to retain more than 200 jobs and allow for future growth.

Teton acquires Porta-Kamp

Teton Building, a FirstCity Crestone portfolio company, recently acquired the assets of Porta-Kamp International, a Houston-based company that designs, manufactures and installs housing, including remote workforce sites for the oilfield. Porta-Kamp’s 260,000-sq-ft manufacturing facility in Houston will allow Teton, based in Casper, Wyo., to better serve the needs of its customers.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 31 July 2014

    Eni discovers gas and condensates offshore Gabon

    Eni has made a gas and condensates discovery in the Nyonie Deep exploration prospect in block D4, approximately 13 km offshore Gabon and 50 km from the capital city Libreville...

  • 31 July 2014

    Blue Ocean Technologies: Subsea well intervention completed in 6,700- ft record depth

    Blue Ocean Technologies has set multiple records in subsea well intervention by intervening in, and subsequently plugging and abandoning, a production gas...

  • 30 July 2014

    Fugro’s DeepData pod provides data for deepwater riser monitoring

    Fugro has delivered a motion dataset from the BOP stack and lower riser of two deepwater wells in the Barents Sea using its DeepData pods. The DeepData pods...

  • 28 July 2014

    SDI completes 500th MagTraC MWD Ranging project

    Scientific Drilling International (SDI) has completed the 500th MagTraC MWD Ranging project. MagTraC was introduced in 1998 to target challenging applications...

  • 28 July 2014

    Modular offshore rig design reduces deployment costs

    William Jacob Management (WJM) has introduced an offshore rig design that reduces deployment costs and improves speed-to-market for upstream operations. The 3,000-hp...

  • Read more news