GlobalSantaFe Corporation
{{Short description|Former offshore drilling contractor headquartered in Houston, Texas}}
{{Infobox company
| name = GlobalSantaFe Corporation
| logo = Image:Global santa fe logo.gif
| foundation = {{start date and age|2001|11|20}}
| defunct = {{end date and age|2007|11|27}}
| fate = Acquired by Transocean
| location = Houston, Texas
| key_people = Jon A. Marshall, CEO
Michael R. Dawson, CFO
| industry = Petroleum industry
| services = Offshore drilling
| revenue = {{increase}} $3.312 billion (2006)
| net_income = {{increase}} $1.006 billion (2006)
| assets = {{decrease}} $6.220 billion (2006)
| equity = {{decrease}} $4.847 billion (2006)
| footnotes = {{cite web | url=https://www.sec.gov/Archives/edgar/data/1038914/000119312507042757/d10k.htm | title=GlobalSantaFe Corporation 2006 Form 10-K Annual Report | publisher=U.S. Securities and Exchange Commission | access-date=2018-12-07 | archive-date=2015-04-03 | archive-url=https://web.archive.org/web/20150403070524/http://www.sec.gov/Archives/edgar/data/1038914/000119312507042757/d10k.htm | url-status=live }}
}}
GlobalSantaFe Corporation was an offshore drilling contractor headquartered in Houston, Texas. It owned 59 marine drilling rigs. In November 2007, the company was acquired by Transocean.
History
The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation.{{cite news | url=https://www.bizjournals.com/dallas/stories/2001/11/19/daily19.html | title=Global Marine, Santa Fe International complete merger | work=American City Business Journals | date=November 20, 2001 | access-date=December 7, 2018 | archive-date=June 13, 2008 | archive-url=https://web.archive.org/web/20080613162519/http://www.bizjournals.com/dallas/stories/2001/11/19/daily19.html | url-status=live }}
In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War.{{cite news | url=https://www.ogj.com/articles/2003/03/globalsantafe-to-suspend-drilling-operations-in-kuwait.html | title=GlobalSantaFe to suspend drilling operations in Kuwait | work=Oil & Gas Journal | date=March 14, 2003 | access-date=December 7, 2018 | archive-date=December 9, 2018 | archive-url=https://web.archive.org/web/20181209124327/https://www.ogj.com/articles/2003/03/globalsantafe-to-suspend-drilling-operations-in-kuwait.html | url-status=live }}{{cite news | url=https://www.bizjournals.com/houston/stories/2003/03/10/daily47.html | title=GlobalSantaFe to halt Kuwait drilling operations | work=American City Business Journals | date=March 14, 2003 | access-date=December 7, 2018 | archive-date=October 13, 2003 | archive-url=https://web.archive.org/web/20031013011738/http://www.bizjournals.com/houston/stories/2003/03/10/daily47.html | url-status=live }}
In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million.{{cite press release | url=http://s2.q4cdn.com/639056707/files/doc_news/2004/04-May-21-GlobalSantaFe.pdf | title=GlobalSantaFe and Precision Drilling Corporation Closes Sale of Land Drilling Business | date=May 21, 2004 | access-date=December 7, 2018 | archive-date=December 9, 2018 | archive-url=https://web.archive.org/web/20181209124629/http://s2.q4cdn.com/639056707/files/doc_news/2004/04-May-21-GlobalSantaFe.pdf | url-status=live }}{{cite news | url=https://www.cbc.ca/news/business/precision-drilling-buying-overseas-rig-operations-for-316-5m-us-1.470265 | title=Precision Drilling buying overseas rig operations for $316.5M US | work=CBC | date=April 2, 2004 | access-date=December 7, 2018 | archive-date=November 3, 2021 | archive-url=https://web.archive.org/web/20211103182200/https://www.cbc.ca/news/business/precision-drilling-buying-overseas-rig-operations-for-316-5m-us-1.470265 | url-status=live }}
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.{{cite news | url=https://www.bizjournals.com/houston/stories/2004/08/09/daily22.html | title=GlobalSantaFe rig sinks offshore Egypt | work=American City Business Journals | date=August 10, 2004}}
In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs.{{cite news | url=https://www.forbes.com/2006/06/01/globalsantafe-0601markets05.html | title=GlobalSantaFe, Saudi Aramco Sign Drilling Deal | first=Mary | last=Crane | work=Forbes | date=June 1, 2006 | access-date=December 7, 2018 | archive-date=December 9, 2018 | archive-url=https://web.archive.org/web/20181209124739/https://www.forbes.com/2006/06/01/globalsantafe-0601markets05.html | url-status=live }}
In November 2007, the company was acquired by Transocean.{{cite press release | url=https://www.deepwater.com/news/detail?ID=1081502 | title=Transocean Announces Closing of Merger with GlobalSantaFe | publisher=Transocean | date=November 27, 2007 | access-date=December 7, 2018 | archive-date=December 9, 2018 | archive-url=https://web.archive.org/web/20181209165214/https://www.deepwater.com/news/detail?ID=1081502 | url-status=live }}