Jee Ltd, a leading independent multi-discipline subsea engineering and training firm, has been awarded a contract in support of a US$14,000M seven-year development. The contract, with a major offshore pipelay and subsea construction company, is as a result of recent oil field operations in Canada.

Jee will fulfil the detailed design scope of the company's engineering, procurement, construction and installation (EPCI) contract for the subsea pipelines, as part of the offshore loading system (OLS) for the development.

Jee will provide engineering services, including detailed design and stress analysis on three 24-inch offshore loading lines, which will be installed in 90m of water, as part of a piggable loop.

The scope of work includes Jee engineers reviewing survey information to define and finalise multiple pipeline routes and reviewing all pipeline FEED documentation. In addition the contract involves Jee executing operational stress analysis and pipeline walking analysis, as well as performing any necessary engineering for extra protection of the pipelines to mitigate damage or external disturbance.

Michael Green (photo), business development manager at Jee said: "This contract is a direct result of Jee's engineering capabilities, as well as the quality of our work. With a history of expertise in subsea design, we are looking forward to working on the project, as well as continuing to expand our subsea projects within this developing region."

Engineering and project management will begin immediately from Jee's offices in London and Tonbridge as well as work in the client company's offices.

VideoRay LLC has provided two Pro 4 ROV systems for the rescue and recovery operation of the ferry Sewol which sunk off the coast of Jindo Island, South Korea last Wednesday. The ROVs are currently searching for bodies or possible survivors on the sea floor around the ferry as well as inside the hull and interior areas that divers cannot access.

Upon learning of the accident VideoRay volunteered equipment and resources to the rescue effort. VideoRay mobilized two experts to South Korea to assist with the extremely dangerous and difficult job of removing victims of the ferry disaster: Mark Fleming, a San Diego-based VideoRay employee with years of Navy diving experience, and Dave Phillips, a VideoRay consultant and undersheriff of the St. Louis County, MN Sheriff's Office.

The VideoRay Pro 4 ROV's small size, portability, and powerful performance in high currents are crucial benefits in the Sewol rescue efforts, where water conditions are challenging. Divers can only work in the cold water and rapid currents for a few minutes before exhaustion overcomes them. Near-zero water visibility makes it difficult for divers to get a clear picture of the wreck. VideoRay ROVs use state-of-the-art camera and sonar to see through the murky water.

VideoRay ROVs are often used in shipwreck accidents to recover victims, and to assist divers and keep them safer. The small ROVs can dive to depths up to 305 meters (1,000 feet) and remain there for days, providing video, lighting, and sonar information to guide divers and topside rescue and recovery personnel. Recent examples include the Costa Concordia salvage operation in Giglio, Italy, where VideoRays have been used for thousands of hours, and the Princess of the Stars ferry accident in the Philippines where over 800 passengers and crew died.

Independent VideoRay consultant and expert shipwreck responder Steve Van Meter, of Cocoa, Florida, commented on the use of VideoRays on the Sewol operation, saying "I can only imagine the challenges both divers and ROV operators must face there. Currents are reported to be in excess of 5 knots, with visibility less than 20 centimeters. In these conditions, it is extremely fortunate that no divers have been injured or killed. VideoRays can go places divers cannot, but they are also invaluable to save bottom time, provide pre-dive information, and provide illumination and direction on site. They are my tool of choice on most jobs, and I'm proud to have worked closely with VideoRay for years."

Located in Pottstown, Pennsylvania, VideoRay LLC is the oldest Micro ROV company and largest volume producer of underwater ROVs in the world. Operations in South Korea are being directed by KCL Trading Company, a VideoRay dealer based in Kyunggi-Do, South Korea.

As of Tuesday morning, rescuers have recovered 104 bodies from the wreck and continue searching for the 198 people still missing. Of the 476 passengers, only 174 were rescued from the sinking ferry.

Deep Casing Tools has already exceeded the manufacturing output of 2013 within the first quarter of this year.

Deep Casing Tools provides a range of innovative tools designed to land casing and completions at target depth within oil or gas wells.

More than 70 tools have been dispatched worldwide this year to Canada, the USA, Middle East and Australia, beating the record 55 tools produced and sold during the previous year. Distribution between tools run remains the same with an equal split between casing and completions.

Lance Davis, CEO of Deep Casing Tools, said: "Successful tool runs with new clients in Canada and the United States have increased the demand from operators, which are applying the technology to improve the well construction process. New trial tests are also underway with operators in Mexico and the Middle East, which should lead to an excellent year for the company."

Deep Casing Tools' reaming and unique drill through technology provides significant time and cost savings when compared to conventional methods. With the new ability to ream while running in, the casing can be run sooner while the hole is in best condition, eliminating wiper trips and open hole exposure time.

Gauthiers', a Lafayette-based supplier of oil and gas industry containers and support equipment, officially opened the doors to its newly relocated and expanded Houma facility with a community crawfish boil on Friday, April 11.

Approximately 200 invited guests dug into more than 1,000 pounds of boiled crawfish, toured the new facility and learned about the company's newest products. By moving to a larger, 6-acre property and constructing a new facility on Highway 182, Gauthiers' will substantially expand its capacity, including $2 million of offshore containers and baskets in addition to its current fleet of offshore rental equipment.

The company has also hired two full-time employees as a result of this growth: Houma natives Kevin Pizzolato and Jamie Usie. "We're responding to the ever-rising demands of the Gulf of Mexico's offshore exploration, drilling and production industries," said Operations Manager Pizzolato. "We have and will continue to invest heavily in equipment to support their efforts to power the country."

Gauthiers' is a family company founded in Lafayette in 1979 that has evolved and grown over the years to include domestic rentals, international and domestic sales of offshore containers, baskets, workshops, storage containers and related equipment. In 2007, the company added a Houma location to allow them better serve customers working in and around southwestern Louisiana and Port Fourchon. The new facility is located at 4768 Highway 182.

As previously announced, Rowan Companies plc ("Rowan" or the "Company") (NYSE: RDC) confirmed today that on April 25, 2014, Dr. Thomas P. Burke was elected as the Chief Executive Officer of the Company. In addition, Mr. H.E. Lentz retired as the Chairman of the Board of Directors, Mr. W. Matt Ralls was appointed as the Executive Chairman of the Board and Sir Graham Hearne was appointed as the new Lead Director of the Board.

Mr. Ralls commented, "The Company could not be in better hands with Tom as Chief Executive Officer. He has proven his leadership skills, first as CEO of our manufacturing subsidiary and more recently as President and Chief Operating Officer of the Company. Tom's keen business sense, in-depth knowledge of our company and industry, and clear vision for the future will serve the Company well in the years to come. I look forward to watching Rowan flourish under Tom's strong leadership."

Dr. Burke, age 46, most recently served as President and Chief Operating Officer of the Company. He became Chief Operating Officer in July 2011 and was promoted to President in March 2013. Dr. Burke initially joined the Company in December 2009 to serve as President and Chief Executive Officer of LeTourneau Technologies, Inc. and served in such capacity until the sale of LeTourneau in June 2011. Prior to such time, he was employed by Complete Production Services, an oilfield services company, as a Division President from 2006 to 2009, and as Vice President Corporate Development from 2004 to 2006. Before joining Complete, Dr. Burke held various positions at Schlumberger and McKinsey & Company. He holds a DPhil (PhD) in Engineering Science from Trinity College, Oxford and an MBA with High Distinction from Harvard Business School.

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The launch of the Ramform Titan class marine seismic data acquisition ships by Petroleum Geo-Services (PGS) mark a new era of subsea oil and gas exploration. The second of these vessels, the Ramform Atlas was launched in January, 2014. The Ramform Titan and Ramform Atlas are designed and built by PGS to be the most powerful and productive of their kind using the latest marine and electronic seismic technologies.

Ramform Titan

Every detail of these vessels was evaluated based on optimum productivity and safety including the cable management systems used to deploy and attach up to a 24-streamer array system. The towed streamers consist of several thousand recording sensors over an area greater than 3,000 acres (12 km2), or 3.5 times the size of New York's Central Park.

The engineers at PGS have chosen the latest proven technologies available throughout the Ramform Titan-class ships, including the new PMI Dyna-Hanger II and Dyna-BSR cable management systems. These systems provide significantly higher load capacities to accommodate the demands of extreme towing loads caused by wider streamer arrays. As a bonus, the major components of both systems can be installed, or removed, in just minutes without special tools or extensive personnel training to increase on deck productivity and reduce downtime.

The Dyna-Hanger II cable management system uses exclusive patent pending designed symmetrical suspension arms with tool-less features and helical rods. It is designed with a hinged collar that snaps around the housing and is secured with just a quick-release pin. A specially designed housing prevents the attachment point from shifting on the lead-in cable while the collar design enables the cable to rotate freely under tension. It is capable of accommodating loads up to 100% of the cable's rated breaking strength.

The Dyna-BSR bending strain relief system provides cable bending and abrasion protection, while enabling rotation of various cable attachments. It replaces traditional slip-on bending strain relief systems that use a one-piece body design. Instead, the Dyna-BSR patent pending two-piece system can be installed or removed at any time during deployment or retrieval procedures. It is designed with a reinforced polyurethane, two-part shell to provide added strength and flexibility. A unique fastener system quickly secures the shells together. In total, the system offers graduated stiffness to protect cables from off-axis loads through a wide range of angle combinations by maintaining a safe minimum bend radius.

"Everything on the Ramform Titan class was chosen for its contribution to our primary goals of providing optimal seismic productivity and crew safety," according to Sverre Olsen, Technical Manager at PGS. "Every sub-system we have, builds on the total system to achieve our goals. PMI systems were chosen because they continue to meet PGS productivity and higher load requirements."

"The successful PGS installation is a result of our conversations with customers about their challenges then developing cable hardware and support services to meet their needs," said Bob Schauer, president, PMI industries. "We are focused on unmatched support for our customers. Whether it is easy-to-use hardware, engineering support or comprehensive cable testing services, we listen and then perform."

NYC-based PIRA Energy Group Reports that on the week, U.S. commercial oil stocks built; the largest increase since 2009. Japanese crude stocks also built, while demand is still impaired. Specifically, PIRA’s analysis of the oil market fundamentals has revealed the following:

Commercial Oil Inventories Build W/W

Commercial oil inventories built 14.5 million barrel the week ending April 11, the largest weekly increase since 2009. Crude stocks gained 10 million barrels, the largest increase in over five years, with the SPR contributing just 0.6 million barrels to the increase. Crude stocks have now moved above 2013 levels for the first time this year, while all the main product categories are below last year. 

Japanese Stocks Build, Demands Still Impaired

In Japan, total commercial stocks rose 4.6 MMBbls for the second straight week. Crude stocks built 2.7 MMBbls with finished products rising 1.5 MMBbls. All the major product stocks built, with the exception of naphtha. There is still demand impairment from the April 1st consumption tax increase, although the impact should soon begin to diminish. The indicative refining margin was modestly higher and margins remain good.

February Census Exports Clarify February U.S. Product Demand & Crude

The month-on-month decline in distillate and gasoline exports for February, 2014, as well as the EIA’s export plug used during the weeks of February, resulted in upward revisions to calculated February U.S. product demand. For distillate, February exports point to an upward demand revision close to what one would expect with the colder weather. For gasoline, February exports imply an added 190 MB/D to the demand rates reported in the weekly. Some of this demand growth could be a function of declining efficiency. On the crude oil side, exports of 240 MB/D during February reflected a continuation of the recent high level of crude exports to Canada.

Weaker Price Environment to Benefit Vessel Operators

PIRA expects a weaker price environment over the next five years will prove beneficial to vessel operators by reducing bunker costs from current levels. The flat prices for crude and products over the past several years have been stable as positive supply news from rapidly rising shale production has been nearly offset by continued supply disruptions both from OPEC and non-OPEC nations. Risks still remain to Iraqi, Libyan and Venezuelan crude supplies.

Rising Freight Rates To Alter Trade Flow

The shoulder season is seeing anticipated U.S. propane stock builds. Exports are active, but sharply rising freight rates will lead to some trade flow shifts in the weeks ahead. Ethane usage is being impacted by a relatively high level of cracker downtime. Overseas markets are seeing more LPG feed usage.

Ethanol Output Jumps W/W

U.S. ethanol production soared to an eighteen-week high 939 MB/D the week ending April 11 from 896 MB/D during the preceding week. This was the second highest output since January 2012 as the industry is finally breaking free of the frigid weather and logistical problems that have hampered operations over the past few months.

The information above is part of PIRA Energy Group's weekly Energy Market Recap, which alerts readers to PIRA’s current analysis of energy markets around the world as well as the key economic and political factors driving those markets.

Shell today announced an exploration discovery offshore Malaysia. The successful ‘Rosmari-1’ well is located 135 kilometers offshore in Block SK318, and was drilled to a total depth of 2,123 meters.


The well encountered more than 450 meters of gas column. With further exploration planned, the finding is a positive indicator of the gas potential in an area of strategic interest for Shell.

“Rosmari-1 is a testament to our ability to successfully drill and build understanding of new geology within our existing exploration heartlands, adding value to our existing assets in Malaysia,” said Andy Brown, Director Shell Upstream International. “We are expanding and rejuvenating heartlands across our exploration portfolio, including in Brunei, Australia and the Gulf of Mexico.”

“This adds to Shell’s sequence of recent exploration successes in Malaysia, with these discoveries expanding the company’s heartlands positions,” said Iain Lo, Chairman Shell Malaysia.  

Block SK318 is Shell operated with an 85% interest, with the remaining 15% held by PETRONAS Carigali Sdn Bhd.

InterMoor, an Acteon company, has enhanced its customer support, substantially added to its stock of mooring equipment in Asia Pacific and opened a new office at the Loyang Offshore Supply Base in Singapore.

The new office will accommodate InterMoor's Asia Pacific team, including engineering, offshore installation and commercial activities. Martin Kobiela, general manager, InterMoor Pte Ltd, said, "By increasing our physical presence in an Asia Pacific time zone, we are able to operate in synergy with our clients' needs."

The office was necessary to house a growing workforce and to provide additional capacity to serve customers' requirements. Kobiela explained, "We had outgrown our old office and needed to accommodate the new hires that have started this year and to provide space for our expansion. The move illustrates our continuing growth in, and our long-term commitment to, the Asia Pacific region."

The new mooring equipment, which is on order from the manufacturers, includes nine 10-te MK6 Stevpris anchors, 2700 m of 76-mm K4 chain and 9000 m of 83-mm wire.

"We will receive the new equipment over the next couple of months," said Simon Gatcliffe, commercial manager, InterMoor Pte Ltd. "This substantial investment significantly extends our rental inventory in the region and will enable us to offer an enhanced service to customers."

The new office address is:
Loyang Offshore Supply Base
25 Loyang Crescent Block 103, #06-02
TOPS Avenue 1, Mailbox No. 5078
Singapore 508988

Leading subsea technology manufacturer Sonardyne International Ltd. is celebrating winning the Queen's Award for Enterprise in Innovation for its 6G® underwater product range. Announced on Monday 21st April, the Queen's Award for Enterprise recognizes and encourages commercial success resulting from outstanding innovative achievements by businesses in the UK. These are conferred by HM Queen Elizabeth II, on advice of the Prime Minister, and are the highest award a UK business can receive.

Headquartered in Yateley, Hampshire, UK, with regional offices in Aberdeen, Brazil, Houston, Plymouth and Singapore, Sonardyne is recognized as a pioneer in the design and manufacture of underwater acoustic positioning, inertial navigation, wireless communications and sonar technology. Users for the Company's technology are found within the offshore energy, ocean research and maritime security industries. The Company was founded in 1971 by John Partridge and today remains privately owned, employing 310 people worldwide, 265 of which are based in the UK.

Launched in 2010, Sonardyne's award winning 6G (Sixth Generation) technology platform was judged to have addressed users' needs for underwater technology that is low risk, versatile and easy to use. Its performance over the previous generation technology can be likened to the difference between analogue and digital mobile telecommunications. 6G products have made an impact on diverse subsea operations around the world and, in 2013/14, were exported to 55 different countries.

"We are immensely proud and honored to have won The Queen's Award for Enterprise in Innovation with our ground-breaking development of 6G," said John Ramsden, Sonardyne's Managing Director. "When we set out down the path towards 6G, we wanted to develop a family of products that would maximize operational efficiencies and, at the same time, simplify use and minimize costs for our clients. Four years of export success, culminating in this prestigious award, is recognition of our achievements. 6G has brought tangible benefits wherever it has been put to work and is helping to redefine the way in which we explore our oceans and realize our global energy needs."

Oceaneering International, Inc. (NYSE: OII) has reported record first quarter earnings for the period ended March 31, 2014 and that its Board of Directors declared a regular quarterly dividend of $0.27 per common share, an increase from its prior quarterly dividend of $0.22 per share.  The dividend is payable June 20, 2014 to shareholders of record at the close of business on May 30, 2014.

On revenue of $840.2 million, Oceaneering generated net income of $91.2 million, or $0.84 per share.  During the corresponding period in 2013, Oceaneering reported revenue of $718.6 million and net income of $74.8 million, or $0.69 per share.

Year over year, quarterly EPS increased 22% on profit improvements by all oilfield business operations.  Sequentially, quarterly EPS declined, as anticipated, as a result of lower operating income from Subsea Products and Subsea Projects. 

M. Kevin McEvoy, President and Chief Executive Officer, stated, "We are off to a good start to the year as our record first quarter EPS was above our guidance.  All of our business segments performed well relative to our forecasts, and we continue to expect to achieve record EPS for a fifth consecutive year.

"Compared to the first quarter of last year, quarterly ROV operating income improved on an increase in days on hire, the expansion of our fleet, and an improvement in operating margin.  Our fleet utilization increased to 86% from 83% a year ago.  During the quarter we put 14 new systems into service and retired 4.  At the end of the quarter, we had 314 vehicles in our ROV fleet, an increase of 20 from March 2013.  For the balance of 2014, we expect to place 16 to 21 more new systems into service.

"Subsea Products operating income was higher due to improved demand for subsea hardware and an increase in umbilical plant throughput.  Our Subsea Products backlog at quarter-end was $894 million, compared to $776 million at the end of March 2013 and $906 million at the end of December 2013.

"Subsea Projects operating income increased on higher deepwater vessel activity in the U.S. Gulf of Mexico and offshore Angola.  Asset Integrity operating income improved on increased service demand in the Middle East and the Caspian Sea area.  Advanced Technologies operating income was lower on reductions in theme park project work and U.S. Navy submarine maintenance and engineering service activity.

"Our outlook for the rest of this year remains positive.  We continue to project record EPS for 2014 in the range of $3.90 to $4.10.  We anticipate sustained global demand growth for our services and products to support deepwater drilling, field development, and inspection, maintenance, and repair activities.  We expect all our oilfield segments to achieve higher income in 2014 compared to 2013.  For the second quarter of 2014, we are forecasting EPS of $0.97 to $1.01.

"Our liquidity and projected cash flow provide us with ample resources to invest in Oceaneering's growth.  At the end of the quarter, our balance sheet reflected $106 million of cash, $90 million of debt, and $2.1 billion of equity.  During the quarter we generated EBITDA of $186 million and for 2014 we anticipate generating at least $850 million of EBITDA. 

"During the quarter we repurchased 500,000 shares of our common stock at a cost of about $35 million.  Today we announced a 23% increase in our regular quarterly cash dividend to $0.27 from $0.22 per share.  These actions underscore our continued confidence in Oceaneering's financial strength and future business prospects. 

"Looking beyond 2014, we believe that the oil and gas industry will increase its investment in deepwater projects.  Deepwater remains one of the best frontiers for adding large hydrocarbon reserves with high production flow rates at relatively low finding and development costs.  With our existing assets and opportunities to add new assets, we are well positioned to supply a wide range of services and products required to support the safe deepwater efforts of our customers."

ConocoPhillips (NYSE: COP) has announced that the company has donated $1 million toward building a new home for Oklahoma State University's Spears School of Business. In appreciation for this gift, OSU is naming the building's social and collaborative area the ConocoPhillips Student Lounge.

This contribution is in addition to ConocoPhillips' ongoing annual support for scholarships, programs, faculty and facilities across the OSU system.

"Oklahoma State University is grateful for the continuing support of ConocoPhillips and its employees, including many OSU graduates," OSU President Burns Hargis said. "ConocoPhillips is OSU's largest corporate donor, giving nearly $40 million through the years along with hiring countless alumni. ConocoPhillips is an Oklahoma business pioneer and leader, so we are delighted and grateful the company is helping build the new home for our business school."

The new building will serve as the eastern anchor of the university's main quad. It will significantly increase the space for Spears School of Business' 5,000 students and faculty members, becoming a magnet for attracting the region's best minds to engage in dialogue about business, entrepreneurship, economics, law and policy issues.

The ConocoPhillips Student Lounge will be a gathering place for undergraduate and graduate students, providing a central and dynamic location for collaboration, studying and relaxation between classes. The space will be filled with natural light and include ample comfortable seating, computers, study tables and entertainment options to accommodate the needs and desires of today's busy students. Students will also help in the design process to ensure it is the most inviting and visible space for their peers.

"Oklahoma State University continues to provide ConocoPhillips with top talent," said Ken Seaman, ConocoPhillips' executive sponsor for OSU and a university alum. "We're proud to continue to support the university and the Spears School of Business through this investment."
Seaman, an assistant controller with ConocoPhillips, presented the $1 million check to OSU's Dr. Ken Eastman, interim dean and associate professor of management, Spears School of Business, during a special ceremony this morning on ConocoPhillips' downtown campus in Bartlesville, Okla.

"We are proud of the relationship we have forged with ConocoPhillips and are humbled by this gift to our new business building," says Eastman. "The Student Lounge is a perfect way to honor the many Spears School graduates that ConocoPhillips has hired over the years. We look forward to continuing our partnership with ConocoPhillips so that more of our students can build great careers there."

For more information on the nationally acclaimed Spears School of Business and its progress on the state-of-the-art new facility, visit spears.okstate.edu.

Saipem has been awarded two contracts in Angola by Total, for a combined total of more than $4 billion.

The main contract is worth more than $3 billion, and is an EPCI for the engineering, procurement, installation and commissioning of two converted turret-moored Floating Production Storage and Offloading units (FPSO) for the Kaombo Field Development Project, located in Block 32, offshore Angola. Saipem has also been awarded a seven-year contract of approximately $1 billion for operation and maintenance services of the two vessels.

The two converted FPSO units, owned by Total, will each have an oil treating capacity of 115,000 barrels per day, a water injection capacity of 200,000 barrels per day, a 100 million scfd gas compression capacity and a storage capacity of 1.7 million barrels of oil. The scope of work of the contract includes engineering, procurement, conversion of the tankers, fabrication and integration of the topsides of the FPSO units and the installation of the mooring systems, as well as the hook-up, commissioning and operations start-up. Saipem will provide seven years of operation and maintenance services for the FPSO units.

The Kaombo FPSO project will be managed by the Saipem Floaters Business Unit located in France. Part of the activities related to engineering, procurement, topsides modules fabrication and integration as well as commissioning onshore and offshore works will be carried out in Angola. The topsides fabrication activities will be undertaken in Saipem's Karimun Island Yard, located in Indonesia. The tankers conversion and the topsides modules integration will be executed at a shipyard in the Far East. The first FPSO unit will be operational by the first quarter of 2017 and the second unit by the second quarter of the same year.

Commenting on the award, Umberto Vergine, Saipem CEO, said: "This contract is in line with Saipem's strategy of pursuing growth opportunities in high complexity Floaters and FLNG construction in specific geographic areas, such as Asia Pacific and Africa, where the company can leverage its engineering capabilities, strong local content competencies and unique availability of fabrication yards."

Tesla Offshore LLC, a leading survey service provider offering comprehensive Geophysical, Geoscience, Marine Construction and Marine Salvage support in offshore waters around the world, is celebrating its 10th year in business. In 2014, Tesla Offshore has also achieved a benchmark in its strategic plan for growth marked by the launch of its state- of-the-art Tesla Bluefin-21 AUV program (http://teslaoffshore.com/services/AUV-Systems) reaffirming the company's commitment to enhancing its depth capabilities while expanding its global reach.

Upon reaching the 10 year milestone, Randall P. Bergeron, President and CEO of Tesla Offshore LLC, stated that, "2014 marks a decade of exceptional growth for Tesla Offshore, while maintaining consistently high standards of excellence in customer service. This dual accomplishment can best be attributed to the skill, dedication and integrity of our employees. Going forward, our team of highly respected industry leaders, now equipped with cutting edge AUV technology, is uniquely positioned to undertake the most challenging deepwater survey operations of our clients, anywhere in the world."

Tesla Offshore was established in 2004 by Randall P. Bergeron, Rick Clemmons, Donald Spicer, C.D. Schempf and Richard Habiak. The company adheres to a simple, yet uncompromising, business philosophy: Demand integrity of yourself and your co-workers; Offer only the highest quality compliant products and services; and, Focus on customer satisfaction as the best measure of success. Creating the unique character of Tesla Offshore began long before 2004. The company's core leadership has worked together since 1976. This extensive history provides a wealth of industry expertise resulting in unmatched project efficiency while delivering quality- assured survey services to its customers.

About the Tesla Offshore Bluefin-21 AUV

Nothing more clearly symbolizes the development of Tesla Offshore in these past 10 years than the addition of deepwater AUV services to its list of offerings. The Tesla Bluefin-21 AUV is a highly efficient untethered solution that enables full sensor suite operations at depths up to 4,500
meters, while maintaining the portability and flexibility necessary for deployment from vessels of opportunity worldwide.

The unique sensor suite onboard Tesla Offshore's AUV has been chosen to exceed the data quality, resolution and swath width of what is typically made available to today's deepwater survey customers. The system is the first AUV in the industry to boast a state-of-the-art synthetic aperture sonar (SAS) produced by Raytheon Applied Signal Technology. The PROSAS® Surveyor provides decimetric imaging resolution across swath ranges up to 450 meters per side, leading to increased survey efficiency at depth. Also included are broadband multibeam echosounder, chirp sub-bottom profiler, and a very high definition digital still camera.

Noble Corporation plc (NYSE: NE) has announced that Steven A. Manz has been appointed to the position of Senior Vice President and Chief Financial Officer of Paragon Offshore Ltd., the standard specification offshore drilling company to be created upon separation from Noble. He will report to Randall "Randy" Stilley, who was named in February to serve as Chief Executive Officer and President of Paragon.

Manz has more than 25 years of experience in the offshore drilling and financial services industries. From 1995 to 2005, Manz served in a variety of management roles at Noble Corporation, including Managing Director, Noble Technology Services Division, Vice President of Strategic Planning, and Director of Accounting and Investor Relations. Most recently Manz served at Prospector Offshore Drilling S.A., Seahawk Drilling, Inc. and Hercules Offshore, Inc., where he held the position of Chief Financial Officer of each company. Manz holds a Bachelors of Business Administration in Finance from the University of Texas at Austin.

In addition, Noble also announced the appointment of Luis A. Jimenez, who will serve as Vice President - Administration for Paragon, with responsibility for human resources, administration, learning and development, performance management, employee relations, recruiting and retention. Jimenez has a long and diverse human resources professional background, including 14 years of directly related experience in the energy services industry.

As part of President Obama's all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau has announced that the bureau will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area.

Proposed Western Gulf of Mexico Lease Sale 238, scheduled to take place in New Orleans, Louisiana, in August of 2014, will be the sixth offshore sale under the Administration's Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program). This sale builds on the first five sales in the current Five Year Program, which have offered more than 60 million acres and netted nearly $2.3 billion for American taxpayers.

"The nation's economy and our national security depend heavily on adequate and reliable domestic sources of energy and the Gulf of Mexico continues to be a critical component of the Nation's energy portfolio," said Beaudreau. "This proposed lease sale underscores our commitment to make millions of acres of Federal waters available for safe and responsible exploration and development."

Sale 238 will include approximately 3,992 blocks, covering roughly 21.4 million acres, located from nine to 250 miles offshore, in water depths ranging from 16 to more than 10,975 feet (5 to 3,346 meters). BOEM plans to offer blocks located, or partially located, within the three statute mile U.S. - Mexico Boundary Area subject to the terms of the U.S. - Mexico Transboundary Hydrocarbon Agreement. BOEM estimates the proposed lease sale could result in the production of 116 to 200 million barrels of oil and 538 to 938 billion cubic feet of natural gas.

"As one of the most productive basins in the world, this lease sale is another important step to promoting responsible domestic energy production through the safe, environmentally sound development of the Nation's offshore energy resources," said Beaudreau. "The decision to move forward with this lease sale follows extensive environmental analysis, public input and consideration of the best scientific information available."

The proposed terms of this sale include conditions to ensure both orderly resource development and protection of the human, marine and coastal environments. These include stipulations to protect biologically sensitive resources, mitigate potential adverse effects on protected species and avoid potential conflicts associated with oil and gas development in the region.

BOEM's proposed economic terms include the same range of incentives to encourage diligent development and ensure a fair return to taxpayers as used in previous sales.

The terms and conditions outlined for Sale 238 in the Proposed Notice of Sale are not final. Different terms and conditions may be employed in the Final Notice of Sale which will be published at least 30 days before the sale. All terms and conditions for Western Sale 238 are detailed in the Proposed Notice of Sale information package, which is available at: http://www.boem.gov/Sale-238/. CD's and copies of the maps may be requested from the Gulf of Mexico Region's Public Information Unit at 1201 Elmwood Park Boulevard, New Orleans, LA 70123, or at 800-200-GULF (4853).

The Notice of Availability of the Proposed Notice of Sale is available today for inspection in the Federal Register at: http://www.archives.gov/federal-register/public-inspection/index.html.