GlobalSantaFe Corporation

GlobalSantaFe Corporation was an offshore drilling contractor headquartered in Houston, Texas. It owned 59 marine drilling rigs.^[1] In November 2007, the company was acquired by Transocean.^[2]

GlobalSantaFe Corporation

Industry	Petroleum industry
Founded	November 20, 2001; 23 years ago (2001-11-20)
Defunct	November 27, 2007; 17 years ago (2007-11-27)
Fate	Acquired by Transocean
Headquarters	Houston, Texas
Key people	Jon A. Marshall, CEO Michael R. Dawson, CFO
Services	Offshore drilling
Revenue	$3.312 billion (2006)
Net income	$1.006 billion (2006)
Total assets	$6.220 billion (2006)
Total equity	$4.847 billion (2006)
Footnotes / references [1]

History

The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation.^[3]

In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War.^[4][5]

In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million.^[6][7]

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.^[8]

In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs.^[9]

In November 2007, the company merged with Transocean.^[2]