Monthly Archives: March 2017

Inside the legendary Pirates of the Caribbean ride 50 years later – The Mercury News

Posted: March 21, 2017 at 12:17 pm

According to Disneyland, about 400 million park attendees have ridden on Pirates of the Caribbean since it opened in 1967. That is an average of more than 20,000 a day. The ride is a little more than 15 minutes long.

Walt Disney (circled) posing with sculpted models used for some of the audio-animatronic figures in the Pirates of the Caribbean ride. There are about 120 animated characters in Pirates, mostly human, and nine different animals.

Pirates of the Caribbean was the last Disneyland attraction Disney supervised at the park. Disney died about three months before the ride opened. The ride was originally conceptualized as a New Orleans-themed Blue Bayou Mart featuring a Pirate Wax Museum. Because of the success of the Matterhorns bobsleds in 1959, the concept of a boat ride through 1700s pirate times started to take shape.

The Pirates ride can handle about 2,300 to 2,400 people an hour.

BUILDING 1: The facade is based on the Cabildo building in New Orleans, the seat of the Spanish colonial government in 1799.

BUILDING 2: The facade is based on the Cabildo building in New Orleans, the seat of the Spanish colonial government in 1799.

ALONG THE WAY

1. Talking skull 2. Blue caverns 3. Skeletons 4. Stormy passage 5. Captain in bed The real skeleton is said to be hung on the headboard of the bed. All other skeletons are made out of plastic. 6. Treasure 7. Ship and fort After the ride was redone to use elements of the movie franchise, Captain Barbosas image and voice were added on the ship. 8. Extra boat storage behind the ride 9. Well scene 10. Bride auction 11. Chase scene 12. Singing trio 13. Buildings on fire The fire effect is made with sheets, lights and a fan. 14. Drunk with pigs 15. Jail scene 16. Shooting at TNT 17. Jack Sparrow and treasure 18. Map and parrot

GOING UP!: Conveyors are used to control the boats at the loading area.

THE LONG VOYAGE: The ride at Disneyland meanders along a 1,838-foot canal. That is approximately 1 13 laps around a quarter-mile track.

WATER WORLD: The ride contains about 750,000 gallons of water, which is the equivalent of: 55.6 average-size (21 feet diameter by 4 feet deep) pools

HERES WHAT THAT TALKING SKULL SAYS: Psst! Avast there! It be too late to alter course, mateys. And there be plundering pirates lurkin in evry cove, waitin to board. Sit closer together and keep your ruddy hands in board. That be the best way to repel boarders. And mark well me words, mateys: Dead men tell no tales! Ye come seekin adventure with salty old pirates, eh? Sure youve come to the proper place. But keep a weather eye open mates, and hold on tight. With both hands, if you please. Thar be squalls ahead, and Davy Jones waiting for them what dont obey.

FRANCHISE IN FILMS: Highest average domestic gross for movie franchises with at least two films (in millions).

FRANCHISE IN FILMS: Worldwide unadjusted gross by film in million.

Sources: Disneyland Resort, Box Office Mojo Photos: Staff, Disneyland Resorts

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Inside the legendary Pirates of the Caribbean ride 50 years later - The Mercury News

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Fried eggs, Caribbean style – Christian Science Monitor

Posted: at 12:17 pm

March 21, 2017 One of the main things I set out to do as a food enthusiast is to put our own food in front of us; it matters not which part of the region you are from. My goal is simple appreciation. It is my hope that through the appreciation of our bounty, variety, and freshness, that we will strive to cook at home more often, buy what we produce, pass along cooking techniques that can only be learned by doing, and share know-how that cannot be found in a cookbook.

Sometimes the familiarity of our food can make us think that it is simple, ordinary, and unflattering. Way too often, it takes outside sources to make us realize that what we have is special and that it is food/dishes to be celebrated and uplifted. A few years ago I watched as a very famous TV chef rubbed her hands in glee in anticipation of a guest coming on her show to make Mexican-style scrambled eggs. Her enthusiasm was infectious so I stayed glued to the show; I'm always looking for new and different ways to cook familiar ingredients. When I saw the dish being made onions, tomatoes, minced hot peppers being sauted with beaten eggs mixed in I laughed, not in mockery, but with the pleasure that I already knew how to cook eggs like this. I grew up on this stuff!

What I took away from the show is that what is ordinary for someone is extraordinary for another, and, that we must constantly showcase and celebrate all of our food. Over the years, my preference for the ways in which I like my eggs has meant that I have not had this style of fried eggs in years. I made it the other day, and having not eaten eggs this way in such a long time, it brought back warm memories of growing up in Guyana. The eggs were absolutely delicious. I don't know why it has taken me so long to get back this childhood favourite.

Fried eggs, Caribbean style

1 tablespoon oil 1/2 cup chopped tomatoes Finely minced hot pepper, to taste Salt to taste 2 scallions, white & green parts, sliced wafer thin 2 large eggs, room temperature, lightly beaten

1. Add oil to pan and place over medium heat until the oil is hot. Toss in tomatoes and hot pepper along with salt to taste, stir to mix then reduce heat to low and cook until the tomatoes are soft.

2. Mix scallions with eggs and then add to pan with tomatoes; raise the heat just a little and cook, gently scrambling the eggs with the tomato mixture. Cook until the eggs are cooked through with big tender pieces of egg.

NOTE: Use white/yellow onions in place of scallions and parsley or finely minced Chinese celery(aka known as Guyanese celery), leaves only for the herb flavour.

Related post on Tastes Like Home: Crispy Fried Eggs

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Fried eggs, Caribbean style - Christian Science Monitor

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Derek Walcott, 87, Nobel laureate whose poetry celebrated the … – The Boston Globe

Posted: at 12:17 pm

Globe Staff/file 1993

Mr. Walcott taught at Boston University and founded Boston Playwrights Theatre as a showcase for new plays.

WASHINGTON Derek Walcott, a Nobel laureate in literature who became one of the English-speaking worlds most renowned poets by portraying the lush, complex world of the Caribbean with a precise language that echoed the classics of literature, died March 17 at his home on the island of St. Lucia. He was 87.

A family statement did not disclose the cause.

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Mr. Walcott, who was born on the island of St. Lucia and published his first poem at 14, won the Nobel Prize in 1992, becoming the first writer from the Caribbean to receive the honor. In his poetry and plays, he appropriated Greek classics, local folklore, and the British literary canon in his explorations of the ambiguities of race, history, and cultural identity.

Although he taught for a quarter century at Boston University and later in England, Mr. Walcott created a distinctively Caribbean sensibility in his writing, rich with a sense of the weather, warmth, and the rhythms of island life. In one of his early poems, Islands, he declared that his poetic ambition was to write / Verse crisp as sand, clear as sunlight, / Cold as the curved wave, ordinary / As a tumbler of island water.

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His breakthrough came in 1962 with the collection In a Green Night, which celebrated the landscape and history of the Caribbean and explored Mr. Walcotts conflicted identity as a multiracial descendant of a colonial culture. In his 1962 poem A Far Cry From Africa, he wrote:

I who am poisoned with the blood of both,

Where shall I turn, divided to the vein?

I who have cursed

The drunken officer of British rule, how choose

Between this Africa and the English tongue I love?

Betray them both, or give back what they give?

The vibrant quality of Mr. Walcotts poetry was like entering a Renoir, British critic P.N. Furbank wrote in the Listener newspaper in 1962, full of summery melancholy, fresh and stinging colors, luscious melody, and intense awareness of place.

In 1973, Mr. Walcott published a book-length autobiographical poem, Another Life, that touched on his childhood, his spiritual growth, and his struggles to forge an independent identity as an artist.

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Mr. Walcott went on to publish more than 20 volumes of poetry and virtually as many plays, many of which were produced in the United States and throughout the Caribbean, often with the author as director.

His Nobel Prize citation noted, In him, West Indian culture has found its great poet.

As a pure composer of verse, Mr. Walcott had few equals in his time. He wrote in a smooth, carefully polished style, usually adhering to the traditional forms of English poetry, such as iambic pentameter, heroic couplets, and rhyme.

Caught between the virginal unpainted world of St. Lucia and the historic majesty of the English language, Mr. Walcott wrote in his poem The Schooner Flight in the 1970s, I had no nation now but the imagination.

Mr. Walcott started teaching English and playwriting at BU in 1981. He was accused several times of sexually harassing female students. He was a leading candidate for the position of professor of poetry at Britains University of Oxford in 2009, when the old charges of harassment resurfaced.

Mr. Walcott condemned what he called a low, degrading attempt at character assassination and withdrew his name from consideration. The professorship went to poet Ruth Padel, who soon resigned after admitting that she had forwarded the allegations to journalists.

Mr. Walcott published a new volume every year or two, drawing praise from such eminent literary critics as Helen Vendler of Harvard and Harold Bloom of Yale.

He enjoyed the friendship of some of the eras greatest names in poetry, including Robert Lowell, Joseph Brodsky, and Seamus Heaney. He received many literary honors and in 1981 was awarded a MacArthur Foundation Fellowship, also known as a genius grant.

In 1990, two years before Mr. Walcott received the Nobel Prize, he published what many critics considered his masterpiece, the 325-page poem Omeros. The ambitious work reimagined the ancient Greek epics of Homer in modern-day St. Lucia.

What drove me was duty: duty to the Caribbean light, Mr. Walcott told the New York Times in 1990. The whole book is an act of gratitude. It is a fantastic privilege to be in a place in which limbs, features, smells, the lineaments and presence of the people are so powerful.

The poem has the scope of a novel, ranging from the Caribbean back in time to ancient Greece, the British Empire, and the 19th-century United States. Mr. Walcott evokes Joseph Conrad, Herman Melville, James Joyce, and, of course, Homer both the ancient Greek poet and Winslow Homer, the American painter of The Gulf Stream.

The characters in Omeros are fishermen who battle the weather and the sea and who struggle with their all-too-human desires and shortcomings. Helen of Troy is recast a haughty St. Lucian woman who works as a waitress and sells trinkets at the beach.

What I wanted to do in the book was to write about very simple people who I think are heroic, Mr. Walcott told NPR in 2007.

Derek Alton Walcott was born in Castries, the capital of St. Lucia. The island became an independent country in 1979 after being a British colony for 165 years.

Mr. Walcott had a twin brother, Roderick, who became a playwright, and an older sister, Pamela. Their father, a civil servant and skilled watercolor painter, died when Mr. Walcott was 1. His mother taught school.

While studying at English-language schools, Mr. Walcott became devoted to English poetry and received a scholarship to the University of the West Indies in Jamaica.

After teaching in St. Lucia, Grenada, and Jamaica, he received a Rockefeller Foundation grant, which he used to study theater in New York.

For years, Mr. Walcott wrote as much drama as poetry, and his plays were produced in Caribbean theaters, then in London and Toronto and, by the late 1960s, in off-Broadway theaters in New York.

His plays drew on folk elements and typically were written in a more casual, colloquial style than his poetry.

His play Dream on Monkey Mountain, produced off-Broadway, won an Obie Award in 1971. In 1998, he collaborated with singer-songwriter Paul Simon on the musical The Capeman, which had a short-lived run on Broadway.

In 1981, with some of his proceeds from the MacArthur grant, Mr. Walcott founded Boston Playwrights Theatre as a showcase for new plays. He wrote several pieces for the stage near BUs campus and affiliated with the university, including one, Walker, that takes a look at Bostons abolitionist roots through the eyes of the title character, a self-taught free black man.

The thing I wanted to do was to have the playwright in close contact with the actor, which is something in a professional theatre that you just dont get, he told the theater in an interview in 2007. I thought the thing that would be best for any playwright ... was to have a program in which the actors and the playwrights could relate immediately, and the actors could help in terms of the shaping of the scripts.

For those of us who knew and loved him, Dereks passing is a milestone in our lives certainly it is in mine, Kate Snodgrass, BU playwright professor and artistic director at the theater, wrote on the theaters website. And for the world, we have lost a needed presence, a gifted poet and playwright, a true literary giant.

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Derek Walcott, 87, Nobel laureate whose poetry celebrated the ... - The Boston Globe

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Derek Walcott, Nobel laureate whose poetry celebrated the Caribbean, dies at 87 – Washington Post

Posted: at 12:17 pm

Derek Walcott, a Nobel laureate in literature who became one of the English-speaking worlds most renowned poets by portraying the lush, complex world of the Caribbean with a precise language that echoed the classics of literature, died March 17 at his home in Cap Estate, St. Lucia. He was 87.

His family issued a statement confirming his death, but the cause was not immediately disclosed.

Mr. Walcott, who was born on the island of St. Lucia and published his first poem at 14, won the Nobel Prize in 1992 and was the first writer from the Caribbean to receive the honor and the second black laureate in literature, after Nigerias Wole Soyinka.

In his poetry and plays, Mr. Walcott appropriated Greek classics, local folklore and the British literary canon in his explorations of the ambiguities of race, history and cultural identity.

Although he taught for years in the United States and later in England, Mr. Walcott created a distinctively Caribbean sensibility in his writing, rich with a sense of the weather, warmth and the rhythms of island life. In one of his early poems, Islands, he declared that his poetic ambition was to write / Verse crisp as sand, clear as sunlight, / Cold as the curved wave, ordinary / As a tumbler of island water.

His breakthrough came in 1962 with the collection In a Green Night, which celebrated the landscape and history of the Caribbean and explored Mr. Walcotts conflicted identity as a multiracial descendant of a colonial culture. In his 1962 poem A Far Cry From Africa, he wrote:

I who am poisoned with the blood of both,

Where shall I turn, divided to the vein?

I who have cursed

The drunken officer of British rule, how choose

Between this Africa and the English tongue I love?

Betray them both, or give back what they give?

The vibrant quality of Mr. Walcotts poetry was like entering a Renoir, British critic P.N. Furbank wrote in the Listener newspaper in 1962, full of summery melancholy, fresh and stinging colors, luscious melody, and intense awareness of place.

In 1973, Mr. Walcott published a book-length autobiographical poem, Another Life, that touched on his childhood, his spiritual growth and his struggles to forge an independent identity as an artist.

Mr. Walcott went on to publish more than 20 volumes of poetry and virtually as many plays, many of which were produced in the United States and throughout the Caribbean, often with the author as director.

His Nobel Prize citation noted, In him, West Indian culture has found its great poet.

As a pure composer of verse, Mr. Walcott had few equals in his time. He wrote in a smooth, carefully polished style, usually adhering to the traditional forms of English poetry, such as iambic pentameter, heroic couplets and rhyme.

Caught between the virginal unpainted world of St. Lucia and the historic majesty of the English language, Mr. Walcott wrote in his poem The Schooner Flight in the 1970s, I had no nation now but the imagination.

He published a new volume every year or two, drawing praise from such eminent literary critics as Helen Vendler of Harvard University and Harold Bloom of Yale University. Mr. Walcott taught at Boston University for more than 25 years, beginning in 1981.

He enjoyed the friendship of some of the eras greatest names in poetry, including Robert Lowell, Joseph Brodsky and Seamus Heaney. He received many literary honors and in 1981 was awarded a MacArthur Foundation Fellowship, also known as a genius grant.

In 1990, two years before Mr. Walcott received the Nobel Prize, he published what many critics considered his masterpiece, the 325-page poem Omeros. The ambitious work reimagined the ancient Greek epics of Homer in modern-day St. Lucia.

What drove me was duty: duty to the Caribbean light, Mr. Walcott told the New York Times in 1990. The whole book is an act of gratitude. It is a fantastic privilege to be in a place in which limbs, features, smells, the lineaments and presence of the people are so powerful.

The poem has the scope of a novel, ranging from the Caribbean back in time to ancient Greece, the British Empire and the 19th-century United States. Mr. Walcott evokes Joseph Conrad, Herman Melville, James Joyce and, of course, Homer both the ancient Greek poet and Winslow Homer, the American painter of The Gulf Stream.

The title, Omeros, is the modern name for Homer, but not without other island associations:

O was the conch-shells invocation, mer was

both mother and sea in our Antillean patois,

os, a grey bone and the white surf as it crashes

and spreads its sibilant collar on the lace shore

The characters in Omeros are fishermen who battle the weather and the sea and who struggle with their all-too-human desires and shortcomings. Helen of Troy is recast a haughty St. Lucian woman who works as a waitress and sells trinkets at the beach.

What I wanted to do in the book was to write about very simple people who I think are heroic, Mr. Walcott told NPR in 2007. You can see some splendid examples of black men on the beach who can look like silhouettes on a Greek vase, and that was one of the images that I had in mind.

The result, Australian writer Michael Heyward wrote in The Washington Post in 1990, was that Mr. Walcott had written a massive, beguiling, sorrowful, triumphant poem He gives the impression that the whole of English is at his disposal, that he can make poetry out of anything he wants to say.

Marking the passage of time

Derek Alton Walcott was born Jan. 23, 1930, in Castries, the capital of St. Lucia, a 240-square-mile island in the Lesser Antilles of the Caribbean. It became an independent country in 1979 after being a British colony for 165 years.

Mr. Walcott had a twin brother, Roderick, who became a playwright, and an older sister, Pamela. Their father, a civil servant and skilled watercolor painter, died when Mr. Walcott was 1. His mother taught school and worked as a seamstress.

The Walcott children spoke a local patois that was a blend of English and French, derived from the two colonial powers that settled St. Lucia. While studying at English-language schools, Mr. Walcott became devoted to English poetry and was encouraged by a small group of artists. He began painting at an early age and was 14 the first time a local newspaper published one of his poems.

Mr. Walcott received a scholarship to the University of the West Indies in Kingston, Jamaica, where he majored in French, Latin and Spanish before graduating in 1953.

He taught in St. Lucia, Grenada and Jamaica, and in 1957 received a Rockefeller Foundation grant, which he used to study theater in New York. He lived primarily in Trinidad in the 1960s.

For years, Mr. Walcott wrote as much drama as poetry, and his plays were produced in Caribbean theaters, then in London and Toronto and, by the late 1960s, in off-Broadway theaters in New York. His plays drew on folk elements and typically were written in a more casual, colloquial style than his poetry.

His play Dream on Monkey Mountain, produced off-Broadway, won an Obie Award in 1971. In 1998, he collaborated with singer-songwriter Paul Simon on the musical The Capeman, which had a short-lived run on Broadway.

During Mr. Walcotts teaching career, primarily at Boston University, he was accused several times of sexually harassing female students. He was a leading candidate for the position of professor of poetry at Britains University of Oxford in 2009 when the old charges of harassment resurfaced.

Mr. Walcott condemned what he called a low, degrading attempt at character assassination and withdrew his name from consideration. The professorship went to poet Ruth Padel, who soon resigned after admitting that she had forwarded the allegations to journalists.

Mr. Walcott later held an academic chair at the University of Essex in Britain, but he lived primarily in St. Lucia, where he maintained diligent work habits, rising before dawn, writing for hours, then painting in the afternoon. He was usually in bed by 7:30 p.m.

He remained productive into his later years, writing plays and volumes of poetry, including White Egrets (2010), which won Britains T.S. Eliot Prize for Poetry, and the 2014 collection The Poetry of Derek Walcott 1948-2013.

Mr. Walcotts marriages to Fay Moston, Margaret Ruth Maillard and Norline Metivier ended in divorce. Survivors include his longtime companion, Sigrid Nama, a former art gallery owner; a son from his first marriage and two daughters from his second marriage.

Mr. Walcott wrote of the sea and the lush burgeoning of life of the tropical islands from which he hailed, but from his earliest days as a poet, he marked the passage time and touched on the theme of death.

After his twin brother died in 2000, Mr. Walcott looked in the mirror and recorded his impressions in his 2004 book-length poem The Prodigal:

Old man coming through the glass, who are you?

I am you. Learn to acknowledge me,

the cottony white hair, the heron-shanks,

and, when you and your reflection bend,

the leaf-green eyes under the dented forehead,

do you think Time makes exceptions, do you think

Death mutters, Maybe Ill skip this one?

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Derek Walcott, Nobel laureate whose poetry celebrated the Caribbean, dies at 87 - Washington Post

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Caribbean or Pacific: Choose Your Paradise in Costa Rica – International Living

Posted: at 12:17 pm

Margaret Schaffner spent the early days of her career among the high-end art community in East Hampton, New York. She jetted off for what was supposed to be a 10-day vacation with friends to Puerto Viejo, Costa Rica in the early 2000s and ended up extending her trip, whichlittle did she know thenwas the beginning of her life as an expat.

I kept being drawn back to the Caribbean and, after several stints back and forth, I

Margaret lived in Puerto Viejo until two years ago, when she and her son made the move to

There are benefits and drawbacks to each, and in my experience it really comes down to evaluating what kind of life youre trying to build and what your necessities are, she says.

Margaret says back when she first moved to Costa Rica, it was definitely cheaper to live on the Caribbean side, but today it will likely cost about the same on either coast. Different elements of your budget will vary, but overall the cost of living in both places is pretty comparable. With rental prices between $500 and $700 a month, and meals out costing as low as $5, many expats

The Caribbean is breathtakingly beautiful, its like living in a scene straight out of The Jungle Book, she explains. The nature is magical, its very un-touched. Youll be able to experience organic produce like youve never had in your life. Theres also easy access to a wide variety of medicinal plantsmany natural healers are drawn to this area.

Living on the Caribbean side will provide a fairly rustic, island-like experience. Homes are very private and spread out. Youre not going to find condos like you do on the Pacific side, Margaret says. Most homes will be simple, with outdoor kitchens run by gas. Its rare to find a home with air conditioning and if you do it will be expensive to run.

With fewer tourists passing through and a smaller expat community, Margaret says language could be viewed as a pro or a con depending on the person. I highly suggest speaking some Spanish or at least being prepared to learn, as youll find far fewer people who speak English on the Caribbean side. Also if someone wants to open a business, its important to note the smaller number of tourists.

The biggest difference between the two coasts in terms of climate is the rainy season. Rainy season can be very intense on the Caribbean side, so youll certainly need a good pair of rain bootsits entirely possible for it to rain for three weeks straight there, she said. With the weather and fewer resources in the region, you will typically also experience more frequent power and internet outages.

After enjoying the natural beauty of the Caribbean and learning to speak Spanish fluently, Margaret and her son made the move from Puerto Viejo to the beach-town, surfers haven of Tamarindo on the Pacific coast two years ago. We absolutely love it here. It was definitely the right choice for us, she said.

The biggest thing I found myself missing during our Caribbean days was a sense of community, Margaret says. My son, Odin, is a very active boy and especially for him, I was looking for more opportunity to build a friend network, for activity, and also for education.

In general, Margaret has found many of the Pacific coastal towns to be more developed and resources easier to access. Here, you can find more modern housing if you want it and air conditioning, for example, she says. And there are great school options for my son in addition to a ton of different activities for him to be involved in.

Margaret says the best thing about moving to Tamarindo has been finding that sense of community she and her son came to find. People here are just friendly and welcoming and very supportive of one another. For example, Odin is a talented surfer and the community here has completely rallied behind him; people put up money for sponsorships and come out to competitions to cheer him onthey truly want to see him succeed and that kind of community support feels really good.

Of course theres also Pacific coast sunsets, which are tough to rival.

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Caribbean or Pacific: Choose Your Paradise in Costa Rica - International Living

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Transocean: Speculating On Offshore Drilling – Seeking Alpha

Posted: at 12:14 pm

(Source: deepwater.com)

Transocean Ltd. (NYSE:RIG) primarily offers deepwater and harsh environment oil and gas drilling services worldwide. The company owns or has partial ownership interests in 61 mobile offshore drilling units, including 28 ultra-deepwater floaters, 7 harsh environment floaters, 5 deepwater floaters, 11 midwater floaters, and 10 high-specification jackups. As of February, the company has stacked 27 rigs and idled 4 rigs. The cold stacked rigs serve as a company liability as they cost money and are unlikely to reenter the fleet.

RIG's stock price has outperformed the GICS Oil and Gas Drilling subindustry the last few months, including its offshore competitors such as Diamond Offshore Drilling Inc. (NYSE:DO), Ensco PLC (NYSE:ESV), and Rowan Companies plc (NYSE:RDC).

(Source:Portfolio123)

In a world of offshore drilling musical chairs, where companies are scrambling to unload rigs before the music stops, RIG seems to have found a chair to sit on. A recently published report indicates that RIG is considering selling its fleet of 15 shallow-water rigs for $1.2 billion. This would help out their balance sheet tremendously.

It should be noted that RIG filed a patent infringement complaint against Noble Corporation plc (NYSE:NE) in January, an action that could lead to unexpected legal costs.

Also in January, GE Oil & Gas (NYSE:GE) announced they had entered into an agreement with RIG for $180 million to provide condition-based monitoring and maintenance services for pressure control equipment on seven of Transocean's rigs over the next 10 to 12 years.

Company Fundamentals

RIG has managed to maintain positive earnings despite rapidly falling revenues in 2016, accomplished by controlling costs, reduced capital spending, and deferring delivery of seven new builds until 2020.

(Source:Portfolio123)

The table below highlights how RIG compares to the GICS Energy Equipment & Services industry aggregate. RIG has better figures for just about every fundamental factor, whether it be valuation, returns, or margin.

Note that the industry includes companies that supply oil and gas equipment and services other than drilling.

(Source:Portfolio123)

But be aware, as Balance Sheet Explorer observes:

RIG has written down $6 billion since 2014. While the impairments have showed up on the cash flow statement and the income statement, they have been absent on the balance. In other words, the NPPE has remained roughly the same. This is because, according to accounting rules, the assets will be written down on the balance sheet only if the company keeps using the assets. Companies like RIG have simply elected to warm or cold-stack their rigs, effectively allowing them to keep the value of the balance sheet.

The fundamentals should be taken with a grain of salt, or should I say a drop of salt water. They are statistics in a rapidly changing market segment that don't necessarily apply to the future. Analysts expect that RIG will be operating in the red in 2017 as contracts wind down.

Even so, RIG's future appears to be relatively stable given the $11.3 billion backlog and $6.1 billion of liquidity, important factors in a market segment where survival mode will be the norm for offshore oil drillers, at least for the next couple of years.

Analyst Estimates

Sales and EPS have generally beaten analysts' estimates, sometimes by a wide margin. This generally means that the company provides conservative forward guidance. The message here is that investors should not fear large negative surprises come reporting time.

(Source:Portfolio123)

The average recommendation for RIG is 3.5 on a scale of 1 to 5 with 1 being a 'Buy' and 5 being a 'Sell'. The average recommendation has decreased from ~3.9 back in July 2016. The average recommendation of 3.5 is worse than for the company's peers. Both NE and RDC have a recommendation of 2.9.

(Source:Portfolio123)

The stock short interest is a huge 18.1% of float. Short interest is a good gauge of future price direction. However, a short squeeze could occur if the stock price spikes up for any reason.

Technicals

The stock price has been in a downward trend since the start of 2017. The stock price is currently $12.47 and if the downward trend continues the price could reach the initial support level of $12 followed by the support level at $10.75.

(Source: stockcharts.com)

Investing in Transocean

Investors should avoid RIG until the stock price drops below $12 while keeping an eye on the rumored deal for sale of the shallow-water rigs. If this deal goes through, the stock price will go much higher plus there is the possibility of a short squeeze. Speculators could enter a long position now, but I have to caution readers that the supposed $1.2 billion deal has not been confirmed and may not occur.

Investment Risk

One risk for a long position in RIG is an extended oil bear market, which is a quite distinct possibility. If the price of oil continues lower then some offshore drilling services companies will ultimately go belly-up, and the rest will fall in price either due to fundamentals or in sympathy.

Another risk is that the large backlog is almost entirely dependent on / contracted with Shell (RDS.A, RDS.B), which is big-time concentration risk. If true, RIG's long-term survival appears to be heavily dependent on its relationship with Shell.

Wrap-Up

RIG owns 61 mobile offshore drilling units, with 27 stacked rigs and idled 4 rigs.

RIG fundamentals are superior to the industry aggregate, with better valuation, returns, and margins. As with the rest of the industry, RIG is expected to lose money in 2017.

Sales and EPS have generally beaten analysts' estimates, sometimes by a wide margin. This generally means that the company provides conservative forward guidance.

There is a high level of short interest meaning that speculators are pessimistic about RIG's prospects. Short interest is a good gauge of future price direction.

Given the $11.3 billion backlog and $6.1 billion of liquidity, traders could buy RIG on speculation that sale of shallow-water rigs will go through. Conservative investors should avoid this stock.

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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Transocean: Speculating On Offshore Drilling - Seeking Alpha

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Offshore Stymies Oil States – Oil States International Inc. (NYSE:OIS … – Seeking Alpha

Posted: at 12:14 pm

Oil States International (NYSE:OIS) is a conundrum of sorts. Its mix of onshore and offshore products provides diversification. However, it appears that when one segment does well, the other segment under-performs.

Push/Pull Between Onshore And Offshore Continues

Oil States has been punished by the rout in oil prices. In order to stem cash burn, shale oil plays have squeezed suppliers. The company's Wellsite Services segment represented as much 48% of revenue in 2014; it fell to as low as 23% last quarter. The rig count rose by 14% in Q3, and growth in the company's Wellsite Services segment has been white hot.

The segment generated $54.9 million in revenue, up 18% sequentially. The company has a major presence with shale oil plays in the Permian Basin in West Texas and in the Rocky Mountains. That has served the company well as the Permian is where the lion's share of growth in the rig count has occurred. Its revenue growth was much higher than larger players like Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI).

The company experienced a 3% sequential increase in completion services jobs performed, and a 16% increase in average sales price ("asp") per job. These improvements, along with increased activity in the Permian basin and increased usage of land rigs are expected to drive Q1 2017 revenue growth at a minimum of 5% sequentially.

While land drilling is showing signs of life, the Offshore segment is in decline. Offshore revenue fell 13% sequentially due to falling demand for products used in drilling applications. Oil prices might have remain above $60 for a sustainable period before drilling demand improves. The company expects revenue in the first half of 2017 to be down substantially. It could overshadow any improvement in land drilling revenue.

Liquidity Remains Strong

The bottom line is as long as Oil States maintains strong liquidity and cash flow the company is not going anywhere. The company has working capital of $383 million, which is solid for a company of its size. For full-year 2016 the company generated free cash flow of $119 million. Management cut costs to match its declining revenue base. Capex for the year was only $30 million, versus $115 million in 2015. Its long-term debt of $46 million less than 1x EBITDA, which is paltry compared with larger competitors like Weatherford International (NYSE:WFT) and Halliburton whose balance sheets are more challenged.

Through cost-containment efforts OIS has been able to maintain EBITDA margins in the 7% - 8% range. Along with solid free cash flow, the company should be able to weather another downturn in oil prices. The OPEC supply cut has help spur prices off their Q1 2016 lows. However, I expect the increase in supply from shale oil plays could keep prices in check. The break-even costs for shale plays continue to fall, so drilling activity could remain robust even if oil falls to the mid-$40s. That does not bode well for long-term oil prices.

Takeaway

Oil States has an enterprise value of 34x trailing EBITDA. The stock is up about 3% Y/Y and will likely trade with oil prices. I rate the stock a hold as oil prices could stay in a trading range for the rest of 2017.

Disclosure: I am/we are short HAL, WFT.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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Vryhof launches offshore engineering unit – World Oil – WorldOil (subscription)

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3/20/2017

BERGEN, Norway -- Vryhof and its business unit Deep Sea Mooring (DSM) have launched a new engineering unit to support the companys offshore oil & gas, renewables and aquaculture operations across the globe.

The new unit, which is just one element of Vryhof that also includes anchoring technology specialists Vryhof Anchors and Moorlink,a provider of mobile and permanent mooring solutions, will be home to some of the industrys leading engineers with previous experience as oil & gas operators, rig owners and vessel designers.

The unit will provide expertise in hydrodynamic and vessel motion analysis; advanced mooring analysis (including for offshore wind turbines and offshore fish farms); dynamic positioning (DP) analysis; flexible and rigid riser analysis; complex marine operations (including offshore crane operations and subsea operations); andprobabilistic and deterministic stability analysis for all ship types and floating structures.

A main element of the new units activities and a key differentiator in the marketplace will be one of the industrys largest servers with parallel processing capabilities. This will enable Vryhof and DSM to carry out 120 simultaneous engineering simulations, thereby shortening computational times, reducing assumptions and simplifications, and delivering highly accurate and less conservative engineering analysis for customers.

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Britain’s Good Energy to buy offshore wind power from Dong – Reuters

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LONDON British green energy supplier Good Energy (GOODG.L), one of the small players snapping up market share from big providers, said it had signed a one-year deal to buy electricity from a Dong Energy (DENERG.CO) wind farm off the Yorkshire coast.

Good Energy, which also announced a near 40 percent jump in core profit for last year, said it will buy 12 percent of the electricity produced by Dong Energy's 210-megawatt (MW) Westermost Rough wind farm, with a view to expanding the deal in terms of length and volume.

Denmark's Dong Energy, the largest offshore wind operator in Britain, said the deal marked the first time a British supplier will buy electricity directly from one of its offshore wind farms.

"We have an ambition to ... become one of the UK's leading energy suppliers to industrial and commercial customers and independent retailers," said Dong Energy's head of trading, Soeren Scherfig.

Announcing its full-year results, Good Energy said its electricity customer base grew by 5 percent last year to 71,486 and its gas customer base by 14 percent to 44,107, helping core profit jump to 10.1 million pounds ($13 mln).

Smaller energy suppliers now account for around 18 percent of the dual-fuel British energy market, up from just one percent in 2012, as customers leave big suppliers which the competition watchdog found to have overcharged consumers billions of pounds.

(This version of the story was refiled to include missing word 'power' in headline)

(Reporting by Karolin Schaps; Editing by Susan Fenton)

SHANGHAI China's Alibaba Group Holding Ltd has fully acquired online ticketing platform Damai.cn, the e-commerce giant said on Tuesday, marking a further push into entertainment by the firm as it expands beyond its core online retail business.

TOKYO Japan's Panasonic Corp on Tuesday said it has agreed to become majority owner of Spanish auto parts maker Ficosa International SA [FICOS.UL] as it bolsters its push into the automotive field.

CAPE CANAVERAL, Fla. Privately owned Rocket Lab, a Los Angeles- and New Zealand-based startup poised to begin small satellite launch services this year, has closed a Series D financing round of $75 million, company officials said on Tuesday.

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Scottish offshore wind park of 450 MW gets CfD back – Renewables Now (subscription)

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March 21 (Renewables Now) - The 450-MW Neart na Gaoithe offshore wind farm in Scotland has won the fight against the termination of its Contract for Difference (CfD) and it is now targeting financial close in 2018 and construction start in 2019.

Irish company Mainstream Renewable Power today announced that the arbitral tribunal has decided in favour of Neart na Gaoithe in the dispute related to Low Carbon Contracts Co Ltds (LCCC) move to terminate the CfD for the project in March 2016.

The details on the dispute are confidential.

Mainstream further said it is continuing discussions with the European Investment Bank (EIB), international equity investors, commercial banks and other interested parties to help the offshore wind project reach financial close and start construction.

Planned for the Outer Forth Estuary in the North Sea, Neart na Gaoithe secured a 15-year CfD at a strike price of GBP 114.38 (USD 141.7/EUR 131.6) per MWh in March 2015. It got planning consent in October 2014, but the Royal Society for the Protection of Birds (RSPB) Scotland in early 2015 challenged in court the Scottish governments approval of four offshore wind projects, including this one.

Neart na Gaoithe continues to work with the relevant bodies to ensure that the project has a viable unencumbered consent to allow for financial close in 2018, Mainstream said.

The company had said previously it would use Siemens (FRA:SIE) 7-MW turbines for the project.

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