Transocean

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Transocean Ltd.
Type Public (Template:NYSE, Template:SWX)
Industry Oil Equipment & Services
Predecessor Sonat Offshore
Founded 1973
Headquarters Vernier, Geneva, Switzerland
Key people Steven Newman, President and CEO
Robert Rose, Chairman
Products Drilling
Oil and gas exploration
Revenue US$11.6 billion (2009)
Net income US$3.1 billion (2009)
Employees 26,300 (2008)
Website www.deepwater.com
References: [1][2]
File:GreenwayPlazaTowers.JPG
Greenway Plaza, the location of Transocean's Houston offices

Transocean Ltd. (NYSE: RIG) is the world's largest offshore drilling contractor. The company rents floating mobile drill rigs, along with the equipment and personnel for operations, to oil and gas companies at an average daily rate of US$142,000 (2006). Transocean's day rates extend as high as US$650,000 for its deepwater drillships, which house dual activity derricks and can drill in ultra-deep ocean depths of 10,000 ft (3,000 m).[3]

Transocean employs over 25,000 people worldwide, and has a fleet of 139 offshore drilling units and three ultra-deepwater units under construction as of April 2010. The company is based in Vernier, Switzerland, near Geneva, and it has offices in 20 countries, including major offices in Switzerland, United States, Norway, Scotland, Brazil, Indonesia and Malaysia. Transocean positions itself as a powerful company doing the impossible based on its motto, “We’re never out of our depth”. The firm’s website is, “deepwater.com” to emphasize its deepwater expertise, and that it owns nearly half of the 50 or so deepwater platforms in the world.[4]

History

The company traces its roots to 1953 when the Birmingham, Alabama-based Southern Natural Gas Company created The Offshore Company after acquiring the joint drilling operation DeLong-McDermott from DeLong Engineering and J. Ray McDermott. In 1954 the company launched the first Jackup rig in the Gulf of Mexico. In 1967 the company went public. In 1978 SNG turned it into a wholly owned subsidiary. In 1982 it was changed to Sonat Offshore Drilling Inc., reflecting a change in its parent's name. In 1993 Sonat spun it off.[5]

In 1996 the company acquired Norwegian group Transocean ASA for US$1.5 billion Transocean had started in the 1970s as a whaling company and had expanded through a series of mergers. The new company was called Transocean Offshore. The new company began building massive drilling operations with drills capable of going to 10,000 feet (as opposed to 3,000 feet at the time) and operating two drill operations on the same ship. Its first ship, Discoverer Enterprise, cost nearly US$430 million and was 834 ft (254 m).[6] The Enterprise class drillship is the largest of the drilling ships.[7]

In 1999 Schlumberger proposed a merger of equals with Schlumberger's offshore subsidiary Sedco Forex. The deal was valued at US$3.2 billion. The new company was renamed Transocean Sedco Forex. Sedco Forex had been formed from a merger of two drilling companies, the Southeast Drilling Company (Sedco), founded in 1947 by Bill Clements and acquired by Schlumberger in 1985 for $1 billion,[8] and French drilling company Forages et Exploitations Pétrolières (Forex) founded in 1942 in German occupied France for drilling in North Africa.[5] Schlumberger first got a foothold in the company in 1959 and then assumed total control in 1964 and renamed it Forex Neptune Drilling Company.[8] The spunoff Houston-based Transocean was part of the S&P 500.

In 2000 Transocean acquired R&B Falcon in a deal valued at $17.7 billion.[9] With the acquisition Transocean gained control of what at the time was the world's largest offshore operation. Among R&B Falcon's assets was the Deepwater Horizon. R&B Falcon was formed in 1997 from the merger of Reading and Bates Exploration, which had been founded in 1970 and headquartered in Tulsa, Oklahoma,[10] and Falcon Drilling, which had been founded in 1988 by Steven A. Webster with a $300,000 investment and headquartered in Houston.[11]

The current name was simplified to Transocean in 2003.

In 2005 Discoverer Spirit set a world record for deepest offshore oil and gas well of 34,189 ft (10,421 m).[12]

On July 23, 2007, Transocean announced a merger with GlobalSantaFe Corporation for US$17 billion. The merger was completed on November 27, 2007. The two companies at the time the world's two largest offshore rig operators.[13] As part of the move, Robert E. Rose, who was non-executive chairman of GlobalSantaFe, was made Transocean's chairman. Rose had been chairman of Global Marine before its 2001 merger with Santa Fe International Corporation.[14]

In 2008 the company was replaced on the S&P by Equitable Resources after the company announced plans to move its headquarters to Switzerland making it ineligible to be in the S&P index.[15] In October 2009 the company board approved the move to Switzerland.[16] In December 2009 the shareholders approved the move to Switzerland.[17] On December 19, 2008 the company completed the process of changing its place of incorporation from the Cayman Islands to Switzerland. The company's top management was scheduled to move to Switzerland from Houston.[18]

In September 2009 its Deepwater Horizon rig established a 35,050 ft (10,680 m) well, the deepest well in history -- more than 5,000 feet deeper than its stated design specification.[19]

Over the years, Transocean has moved its incorporation location to take advantage of lower taxes in some jurisdictions. It was originally incorporated in the US state of Delaware, but it moved its corporate registration to the Cayman Islands in 1999. In 2008, it moved its registration to the canton of Zug, Switzerland, where it currently is incorporated. Only 12 of its employees work in the Zug office, according to a company spokesperson. The registration move allowed Transocean to lower its corporate income tax rate from 35 percent in the US, to 16 percent in Zug.[20]

Accidents and incidents

Ixtoc I oil spill

Main article: Ixtoc I oil spill

On 3 June 1979, an exploratory well being drilled by Sedco (not then a part of Transocean) with the semi-submersible Sedco 135-F, contracted to Pemex, blew out in the Bahia de Campeche in the Gulf of Mexico after losing drilling mud circulation. The well ignited, and the burning platform collapsed into the sea over the wellhead causing the then-largest peace-time oil spill by the time it was capped on 23 March 1980.[21]

Transocean Leader accident

On March 2 2002, a Scottish man was killed in an accident aboard the drilling rig, Transocean Leader operated for BP, located about 86 miles west of Aberdeen, Scotland.[22]

Galveston Bay explosion

On June 17 2003, one worker was killed, four were hospitalized and 21 were rescued after an explosion on a Transocean gas drilling rig in Galveston Bay, Texas.[23]

Transocean Rather

On August 24 2005, the UK Health and Safety Executive issued a notice to Transocean that it had failed to maintain its “remote blow Out preventor control panel … in an efficient state, efficient working order and in good repair.” On November 21 2005, the Transocean was found to be in compliance for this matter.[24]

Bourbon Dolphin/Transocean Rather accident

On April 12 2007, the Bourbon Dolphin supply boat sank off the coast of Scotland while it was servicing the Transocean Rather drilling rig, killing eight people. The Norwegian Ministry of Justice established a Commission of Inquiry to investigate the incident, and the commission’s report found a series of "unfortunate circumstances" led to the accident “with many of them linked to Bourbon Offshore and Transocean.”[25][26]

2008 fatalities

Two of its workers were reported killed on Transocean vessels in 2008.[27]

Deepwater Horizon drilling rig explosion

Main article: Deepwater Horizon drilling rig explosion

On April 21, 2010, a fire was reported on a Transocean-owned semisubmersible drilling rig, Deepwater Horizon, made by Hyundai Heavy Industries in Ulsan, South Korea. Deepwater Horizon was a Reading & Bates Falcon RBS8D design, a firm that was acquired by Transocean in 2001. The fire broke out at 10:00 p.m. CDT UTC-5 in US waters of Mississippi Canyon 252 in the Gulf of Mexico. The rig was 41 mi (66 km) off the Louisiana coast. The US Coast Guard launched a rescue operation after the explosion which killed 11 workers and critically injured seven of the 126 member crew.[28][29] Deepwater Horizon was completely destroyed, and subsequently sank.

As the Deepwater Horizon sank, the riser pipe that connected the well-head to the rig was severed and as a result oil began to spill into the Gulf of Mexico. Estimates of the leak were in the range of 5,000 to 19,000 barrels per day.

Louisiana Governor Bobby Jindal declared a state of emergency Thursday April 29, as the oil slick grew and headed toward the most important and most sensitive wetlands in North America, threatening to destroy wildlife and the livelihood of thousands of fishermen. This oil slick is considered the largest offshore spill in U.S. history. The head of BP Group told CNN's Brian Todd on April 28 that the accident could have been prevented, and focused blame on rig owner Transocean.[30]

Transocean have also come under fire from lawyers representing fishing and tourist businesses hit by the spill and the Department of Justice for seeking to use an 1851 law to restrict its liability for economic damages to $26.7 million.[31]

On May 14, 2010 U.S. President Barack Obama stated, "...executives of BP and Transocean and Halliburton falling over each other to point the finger of blame at somebody else," when referring to the congressional hearings held during the continued flow of oil in the Gulf of Mexico resulting from an oil rig platform explosion. "The American people could not have been impressed with that display, and I certainly wasn't."

Industry reputation

Transocean was rated as a leader in its industry for many years; however, since its merger with GlobalSantaFe in 2007, its reputation has suffered considerably, according to Energy Point Research, an independent oil service industry rating firm. From 2004 to 2007, Transocean was the leader or near the top among deep-water drillers for "job quality" and "overall satisfaction." In 2008 and 2009, surveys ranked Transocean last among deep-water drillers for "job quality" and next to last in "overall satisfaction." In 2008 and 2009, the firm ranked first for in-house safety and environmental policies, and in the middle of the pack for perceived environmental and safety record.[32] The Deepwater Horizon explosion and massive oil spill starting in April 2010, has further hurt its reputation. “Transocean is dominant, but the accident has definitely tarnished its reputation for worker safety and for being able to manage and deliver on extraordinarily complex deepwater projects,” said Christopher Ruppel, an energy expert and managing director of capital markets at Execution Noble, an investment bank.[4]

Fleet/rigs

According to the company's fleet report as of April 30, 2010 it has 25 ultra deepwater rigs plus 3 under construction, 16 deepwater rigs, 5 harsh environment, 25 midwater floaters, 10 high specification jackups, 55 jackups, 2 swamp barges and 1 other.[33]

Ultra deep water

Ultra Deep Water rigs are the largest and deepest rigs drilling 2,300 metres (7,500 ft) and greater. Enterprise class ships are named after Discoverer Enterprise which was the first of the large drill ships, and operate in the lower reaches of the Bathyal zone. All of the craft have Dynamic positioning capabilities.

Name Type Entered service Water depth Drilling depth Location Customer Comment
Cajun Express semi 2001 8,500 ft (2,600 m) 35,000 ft (11,000 m) Brazil Petrobras
Deepwater Champion ship TBA 12,000 ft (3,700 m) 40,000 ft (12,000 m) TBA ExxonMobil Under construction
Deepwater Discovery ship 2000 10,000 ft (3,000 m) 30,000 ft (9,100 m) Brazil Devon
Deepwater Expedition ship 1999 10,000 ft (3,000 m) 30,000 ft (9,100 m) Malaysia Petronas/BHP
Deepwater Frontier ship 1999 10,000 ft (3,000 m) 30,000 ft (9,100 m) India Reliance
Deepwater Horizon semi 2001 10,000 ft (3,000 m) 30,000 ft (9,100 m) Gulf of Mexico BP Destroyed April 2010
Deepwater Millennium ship 1999 10,000 ft (3,000 m) 30,000 ft (9,100 m) Brazil Anadarko
Deepwater Nautilus semi 2000 8,000 ft (2,400 m) 30,000 ft (9,100 m) Gulf of Mexico Shell
Deepwater Pathfinder ship 1998 10,000 ft (3,000 m) 30,000 ft (9,100 m) Gulf of Mexico Eni
Development Driller III semi 2009 7,500 ft (2,300 m) 37,500 ft (11,400 m) Gulf of Mexico BP Drilling relief well and Deepwater Horizon cleanup[34]
Dhirubhai Deepwater KG1 ship 2009 12,000 ft (3,700 m) 35,000 ft (11,000 m) India Reliance
Dhirubhai Deepwater KG2 ship 2010 12,000 ft (3,700 m) 35,000 ft (11,000 m) India Reliance
Discoverer Americas ship 2009 12,000 ft (3,700 m) 40,000 ft (12,000 m) Gulf of Mexico Statoil
Discoverer Clear Leader ship 2009 12,000 ft (3,700 m) 40,000 ft (12,000 m) Gulf of Mexico Chevron Being deployed to Deepwater Horizon oil spill (target date of mid-July 2010)[35]
Discoverer Deep Seas ship 2001 10,000 ft (3,000 m) 35,000 ft (11,000 m) Gulf of Mexico Chevron
Discoverer Enterprise ship 1999 10,000 ft (3,000 m) 35,000 ft (11,000 m) Gulf of Mexico BP Oil being pumped into it in the Deepwater Horizon cleanup[36]
Discoverer India ship TBA 10,000 ft (3,000 m) 35,000 ft (11,000 m) India Reliance Under construction
Discoverer Inspiration ship 2010 12,000 ft (3,700 m) 40,000 ft (12,000 m) Gulf of Mexico Chevron
Discoverer Luanda ship TBA 7,500 ft (2,300 m) 40,000 ft (12,000 m) Angola BP Under construction
Discoverer Spirit ship 2000 10,000 ft (3,000 m) 35,000 ft (11,000 m) Gulf of Mexico Anadarko
GSF C.R. Luigs ship 2000 10,000 ft (3,000 m) 35,000 ft (11,000 m) Gulf of Mexico BHP Billiton
GSF Development Driller I semi 2004 7,500 ft (2,300 m) 37,500 ft (11,400 m) Gulf of Mexico BHP Billiton
GSF Development Driller II semi 2004 7,500 ft (2,300 m) 37,500 ft (11,400 m) Gulf of Mexico BP Drilling relief well in the Deepwater Horizon cleanup[37]
GSF Explorer ship 1972/1998 7,800 ft (2,400 m) 30,000 ft (9,100 m) Indonesia Marathon-led Consortium Formerly the U.S. Navy ship Glomar Explorer used in Project Azorian for the recovery of a Soviet nuclear submarine
GSF Jack Ryan ship 2000 10,000 ft (3,000 m) 35,000 ft (11,000 m) Nigeria Total
Petrobras 10000 ship 2009 10,000 ft (3,000 m) 37,500 ft (11,400 m) Angola Petrobras
Sedco Energy semi 2001 7,500 ft (2,300 m) 30,000 ft (9,100 m) Nigeria Chevron
Sedco Express semi 2001 7,500 ft (2,300 m) 30,000 ft (9,100 m) Mediterranean Sea Noble Energy

Deepwater

Deepwater rigs drill 1,400 to 2,300 metres (4,600 to 7,500 ft). They operate in the upper reaches of the Bathyal zone. About half of the craft have Dynamic positioning capabilities.

Name Type Entered service Water depth Drilling depth Location Customer Comment
Deepwater Navigator ship 2000 7,200 ft (2,200 m) 25,000 ft (7,600 m) Brazil Petrobras
Discoverer 534 ship 1975/1991 7,000 ft (2,100 m) 25,000 ft (7,600 m) India Reliance
Discoverer Seven Seas ship 1976/1997 7,000 ft (2,100 m) 25,000 ft (7,600 m) India ONGC
GSF Celtic Sea semi 1982/1998 5,750 ft (1,750 m) 25,000 ft (7,600 m) Angola ExxonMobil
Jack Bates semi 1986/1997 5,400 ft (1,600 m) 30,000 ft (9,100 m) Australia Hess
Jim Cunningham semi 1982/1995 4,600 ft (1,400 m) 25,000 ft (7,600 m) Angola ExxonMobil
M.G. Hulme, Jr. semi 1983/1996 5,000 ft (1,500 m) 25,000 ft (7,600 m) Libya Gazprom
Sedco 702 semi 1973/2007 6,500 ft (2,000 m) 25,000 ft (7,600 m) Nigeria Shell
Sedco 706 semi 1976/1994/ 2008 6,500 ft (2,000 m) 25,000 ft (7,600 m) Brazil Chevron
Sedco 707 semi 1976/1997 6,500 ft (2,000 m) 25,000 ft (7,600 m) Brazil Petrobras
Sedco 709 semi 1977/1999 5,000 ft (1,500 m) 25,000 ft (7,600 m) Malaysia Stacked
Sedco 710 semi 1983 4,500 ft (1,400 m) 25,000 ft (7,600 m) Brazil Petrobras
Sovereign Explorer semi 1984 4,500 ft (1,400 m) 25,000 ft (7,600 m) Brazil Repsol
Transocean Marianas semi 1979/1998 7,000 ft (2,100 m) 25,000 ft (7,600 m) Gulf of Mexico Eni
Transocean Rather semi 1988 4,500 ft (1,400 m) 25,000 ft (7,600 m) Angola ExxonMobil
Transocean Richardson semi 1988 5,000 ft (1,500 m) 25,000 ft (7,600 m) Angola Chevron

Other notable rigs

Name Type Entered service Water depth Drilling depth Location Customer Comment
Sedco 135B semi 1965 50 m 3,600 m Shell sank on maiden voyage from Hiroshima to Brunei with 13 casualties in 1965.[38]
Sedco 135F semi 1967 50 m 3,600 m Gulf of Mexico Pemex destroyed at Ixtoc I in 1979.[39]
GSF Rig 127 jack up 1981 250 ft (76 m) 20,000 ft (6,100 m) Qatar (now stacked) Maersk Oil Qatar AS Drilled world record extended reach well of 40,320 ft (12,289 m) in May 2008 -- more than 20,000 ft (6,100 m) deeper than its design specification
Transocean John Shaw semi 1982 549 m 7,620 m North Sea Petrofac

References

  1. ↑ "Transocean Ltd". Hoovers. 2010. http://www.hoovers.com/company/Transocean_Ltd/rffxti-1-1njdap.html. Retrieved 20 May 2010. 
  2. ↑ "Transocean Ltd". Google Finance. Wednesday, 19 May 2010. http://www.google.com/finance?q=NYSE:RIG&fstype=ii. Retrieved 20 May 2010. 
  3. ↑ Wikinvest:Transocean (RIG)
  4. ↑ 4.0 4.1 Tom Zeller; Clifford Krauss (Tuesday, 25 May 2010). "Transocean Finds itself caught in the spotlight". The New York Times: p. B1. http://www.nytimes.com/2010/05/25/business/energy-environment/25transocean.html. Retrieved 30 May 2010. 
  5. ↑ 5.0 5.1 Pederson, Jay P. (2002). "Transocean Sedco Forex Inc.". International Directory of Company Histories. vol. 45. Detroit: St. James Press. ISBN 1558626867. http://www.fundinguniverse.com/company-histories/Transocean-Sedco-Forex-Inc-Company-History.html. Retrieved 23 May 2010. 
  6. ↑ "The Fleet: Discoverer Enterprise". Transocean. 2010. http://www.deepwater.com/fw/main/Discoverer-Enterprise-141.html. Retrieved 23 May 2010. 
  7. ↑ Richard O. Aichele (September 2007). "Drill-Ship Technologies Create Ultra-Deep Solutions". Professional Mariner. http://www.professionalmariner.com/ME2/dirmod.asp?sid=420C4D38DC9C4E3A903315CDDC65AD72&nm=Archives&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&tier=4&id=CBFD64D555804D7DB9EFD24DACE91582. Retrieved 21 May 2010. 
  8. ↑ 8.0 8.1 "Schlumberger Limited - Incorporated in the Netherlands Antilles in 1956: International Directory of Company Histories". Enotes.com. http://www.enotes.com/company-histories/schlumberger-limited/incorporated-netherlands-antilles-1956. Retrieved 2010-05-30. 
  9. ↑ "Transocean Sedco Forex to acquire R&B Falcon - Offshore Shipping Online". Oilpubs.com. 2000-08-25. http://www.oilpubs.com/oso/article.asp?v1=4406. Retrieved 2010-05-30. 
  10. ↑ "Reading & Bates Exploration Co. Company Profile - Located in Tulsa, OK - Saunders, D. M., Tappmeyer, R. A., Bates, J. W., Jr, Eberle, P. H". Corporationwiki.com. http://www.corporationwiki.com/Oklahoma/Tulsa/reading-bates-exploration-co-4349882.aspx. Retrieved 2010-05-30. 
  11. ↑ "Falcon Drilling to merge with Reading & Bates and form world's largest fleet of offshore rigs". Weekly Corporate Growth Report. 1997-07-21. http://findarticles.com/p/articles/mi_qa3755/is_199707/ai_n8778625/. Retrieved 2010-05-30. 
  12. ↑ "Transocean Profile". NYJobSource. Friday, 04 December 2009. http://nyjobsource.com/transocean.html. Retrieved 20 May 2010. 
  13. ↑ "Transocean to Acquire GlobalSantaFe for $17 Billion (Update7)". Bloomberg. 2007-07-23. http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=avjX0oYyowNA. Retrieved 2010-05-30. 
  14. ↑ http://people.forbes.com/profile/robert-e-rose/38378
  15. ↑ Nick Godt (12 December 2008). "Equitable Resources Joins S&P 500, Replaces Transocean: S&P". MarketWatch. http://www.marketwatch.com/story/equitable-resources-joins-sp-500-replaces-transocean-sp. Retrieved 23 May 2010. 
  16. ↑ Hunter, Ford. "Transocean board approves Swiss incorporation move." Houston Business Journal. Thursday October 9, 2008. Friday October 10, 2008. Retrieved on June 21, 2010.
  17. ↑ "Transocean shareholders OK Swiss move." Houston Business Journal. Tuesday December 9, 2008. Retrieved on June 21, 2010.
  18. ↑ Clanton, Brett. "Noble Corp. plans to reincorporate in Switzerland." Houston Chronicle. December 19, 2008. Retrieved on June 21, 2010.
  19. ↑ http://www.deepwater.com/_filelib/FileCabinet/fleetupdate/2010/RIGFLT-APR-2010.xls?FileName=RIGFLT-APR-2010.xls
  20. ↑ Frank Jordans (May 13 2010). "Swiss retreat allows Transocean to save millions". The Associated Press. http://finance.yahoo.com/news/Swiss-retreat-helps-apf-2654873336.html?x=0&.v=2. Retrieved 30 May 2010. 
  21. ↑ Emergency Response Division, Office of Response and Restoration, National Ocean Service (2010). "Ixtoc I". IncidentNews. National Oceanic and Atmospheric Administration, US Department of Commerce. http://www.incidentnews.gov/incident/6250. Retrieved 24 May 2010. 
  22. ↑ "Man killed in oil rig accident". BBC News. Sunday, 3 March, 2002. http://news.bbc.co.uk/2/hi/uk_news/scotland/1851964.stm. Retrieved 28 May 2010. 
  23. ↑ "Late-night blast at Houston company under investigation". San Antonio Express-News. 19 June 2003. Archived from the original on 2003-10-18. http://web.archive.org/web/20031018161830/http://news.mysanantonio.com/story.cfm?xla=saen&xlb=180&xlc=1013976. Retrieved 28 May 2010. 
  24. ↑ UK Health and Safety Executive notice, HSE enforcement notices area, Nov 21, 2005, accessed May 30 2010, http://www.hse.gov.uk/notices/notices/Notice_details.asp?SF=CN&SV=9990531
  25. ↑ Norwegian Ministry of Justice (Justis- og politidepartementet), Report of the Loss of the Bourbon Dolphin, translated from Norwegian, March 28 2008, http://www.regjeringen.no/en/dep/jd/press-center/pressemeldinger/2008/report-on-the-loss-of-the-bourbon-dolphi.html?id=505100
  26. ↑ "Commission report says no single factor led to Bourbon Dolphin tragedy". Offshore shipping Online. March 28 2008. http://www.oilpubs.com/oso/article.asp?v1=7276. Retrieved 30 May 2010. 
  27. ↑ Rebecca Smith and Ben Casselman (May 3 2010). "Rig owner under scrutin". The Wall Street Journal. http://online.wsj.com/article/SB10001424052748703969204575220552092667436.html. Retrieved 30 May 2010. 
  28. ↑ "At least 11 missing after blast on oil rig in Gulf". CNN. 2010-04-21. http://www.cnn.com/2010/US/04/21/oil.rig.explosion/index.html?hpt=T1. Retrieved 2010-04-21. 
  29. ↑ Transocean Ltd (21 April 2010). "Transocean Ltd. Reports Fire on Semisubmersible Drilling Rig Deepwater Horizon". Press release. http://phx.corporate-ir.net/phoenix.zhtml?c=113031&p=irol-newsArticle_print&ID=1415487&highlight=. Retrieved 21 April 2010. 
  30. ↑ CNN Oil slick just a few miles from Louisiana coast
  31. ↑ http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/7806200/Gulf-of-Mexico-oil-spill-Transocean-silent-as-BP-bears-the-brunt-of-anger.html
  32. ↑ "Rig owner had rising tally of accidents". Wall Street Journal. May 10 2010. http://online.wsj.com/article/SB10001424052748704307804575234471807539054.html?mod=WSJ_hpp_MIDDLETopStories. Retrieved 30 May 2010. 
  33. ↑ "Fleet Update Report". Transocean. 13 May 2010. http://www.deepwater.com/fw/main/Fleet_Update_Report-58.html. Retrieved 25 May 2010. 
  34. ↑ http://www.cbsnews.com/stories/2010/05/27/politics/main6523412.shtml
  35. ↑ http://www.deepwaterhorizonresponse.com/posted/2931/BP_COO_Letter_to_Federal_On_Scene_Coordinator.653727.pdf
  36. ↑ http://www.cbsnews.com/stories/2010/05/27/politics/main6523412.shtml
  37. ↑ http://www.cbsnews.com/stories/2010/05/27/politics/main6523412.shtml
  38. ↑ National Material Advisory Board (1980). Fire Safety Aspects of Polymeric Materials. 9. National Academy of Sciences. p. 133. http://books.google.com/books?id=HEIrAAAAYAAJ&pg=PA133&lpg=PA133&dq=Sedco+135B&source=bl&ots=Wra5LDmmOJ&sig=cxA2wdnopfVNfihYEu6c10kalxs&hl=en&ei=qCn8S7HcDpzYMNPchLcB&sa=X&oi=book_result&ct=result&resnum=5&ved=0CCYQ6AEwBA#v=onepage&q&f=false. Retrieved 26 May 2010. 
  39. ↑ "Sedco 135F - IXTOC I". Oil Rig Disasters. Monday, 14 April 2008. http://home.versatel.nl/the_sims/rig/ixtoc1.htm. Retrieved 26 May 2010. 

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