| Business Summary | | Chiles
Offshore
LLC
is
engaged
in
the
business
of
constructing,
owning
and
operating
ultra-premium
jackup
drilling
rigs.
Jackup,
or
self-elevating,
rigs
are
mobile
drilling
platforms
equipped
with
legs
that
are
lowered
to
the
ocean
floor
until
a
foundation
is
established
to
support
the
drilling
platform.
Oil
and
gas
operators
use
jackup
rigs
extensively
for
offshore
drilling
in
water
depths
from
20
feet
to
400
feet
because
they
provide
a
stable
drilling
platform
supported
by
fixed
legs
that
are
in
firm
contact
with
the
bottom
of
the
ocean
and
are
relatively
easy
to
move.
The
Company's
rigs
are
the
newest
ultra-premium
jackup
rigs
in
operation
in
the
world
and
have
capabilities
that
exceed
those
of
existing
ultra-premium
jack-up
rigs. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Chiles
Offshore
LLC
is
engaged
in
the
operation
of
three
ultra-premium
jackup
drilling
rigs,
mobile
offshore
drilling
platforms
equipped
with
legs
that
are
lowered
to
the
ocean
floor
to
support
the
platform,
all
operating
in
the
Gulf
of
Mexico.
For
the
six
months
ended
6/30/01,
revenues
rose
66%
to
$38.2
million.
Net
income
totaled
$10.3
million,
up
from
$3.1
million.
Results
reflect
higher
oil
and
natural
gas
commodity
prices,
and
the
absence
of
$5.8
million
in
interest
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Charles Fabrikant, 56 Chairman | -- | William Chiles, 52 Pres,
CEO, Director | $429K | Dick Fagerstal, 40 Sr.
VP, CFO, Sec., Director | 189K | Donald Gregg, 62 Sr.
VP, Operations and Engineering | 216K | William Thorogood, 56 VP,
Controller, Assistant Sec. | 185K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|