Torch Offshore Company News

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Cal Dive Completes Acquisition of Torch Assets
Cal Dive paid $85 million for Torch Offshore's two shelf pipelay barges; four shelf diving vessels; the deepwater pipelay vessel Midnight Express; and a portable saturation diving system, together with all equipment, inventory, intellectual property and other assets related to the operations of the vessels.
8:00 PM EST | August 30, 2005
Cal Dive Enters Asset Purchase Deal with Torch Offshore
Cal Dive has entered into an asset purchase agreement with Torch Offshore and has agreed to serve as the "stalking horse" bidder for the purchase of Torch's fleet of vessels, including all equipment, inventory, intellectual property and other assets related to the operation of the vessels.
8:00 PM EST | April 06, 2005
Torch Offshore Common Stock to be Delisted from NASDAQ
Torch Offshore reports that the company' stock will no longer be listed on the NASDAQ Stock Market effective March 28, 2005.
7:00 PM EST | March 23, 2005
Torch Offshore Receives Delisting Notification from NASDAQ
Torch Offshore has received notice from the staff of The NASDAQ Stock Market that the Company's common stock will be delisted from the NASDAQ National Market, in accordance with Marketplace Rules 4300 and 4450(f).
7:00 PM EST | January 12, 2005
Torch Offshore Files Chapter 11
Torch Offshore reports that the Company and certain of its affiliates filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the Eastern District of Louisiana to facilitate a restructuring of the Company's debt.
7:00 PM EST | January 06, 2005
Midnight Express Completes Sea Trials
Torch Offshore reports that the sea trials for the Midnight Express have been completed as of Sunday, November 7, 2004.
7:00 PM EST | November 08, 2004
Torch Offshore Wins First Contract for Midnight Express
Torch Offshore reports that the Midnight Express has been contracted by Energy Partners, Ltd. to lay a 38,000-foot long, 4-inch diameter flowline with a 2-inch umbilical in 437 feet of water at East Cameron 378 in the Gulf of Mexico.
8:00 PM EST | October 25, 2004
Conversion of Torch's Midnight Express Delayed Due to Storms
Torch Offshore reports that the Midnight Express, the Company's 520-foot long DP-2 deepwater pipelay vessel, has not suffered any damage from the recent hurricanes that have made landfall on the southeastern U.S. coast.
8:00 PM EST | September 23, 2004
Torch Says the Midnight Express is Gulf of Mexico Bound
Torch Offshore reports that the Midnight Express departed Huisman's yard at Schiedam, The Netherlands on the evening of July 27, 2004, headed to the Gulf of Mexico.
8:00 PM EST | July 28, 2004
Torch Announces Management Change
Torch Offshore reports that Ken Brooks has been promoted to General Manager - Shallow Water.
8:00 PM EST | June 29, 2004
Torch's Midnight Express Completes Sea Trials
Torch Offshore reports that the Midnight Express has completed its sea trials in the North Atlantic Ocean and left the shipyard at Davie Maritime and is on its way to the Huisman Itrec Yard.
8:00 PM EST | June 08, 2004
Torch Says Midnight Express Completes DP-2 Sea Trials
Torch Offshore reports that the Midnight Express has substantially completed its DP-2 sea trials in the North Atlantic Ocean without any major complications.
8:00 PM EST | May 27, 2004
Torch Offshore Wins Alba Work from Marathon
Torch Offshore has signed a contract with Marathon E.G. Production Limited to perform the installation of five pipelines and an umbilical for the export facility of the Marathon gas plant extension in Malabo, Bioko Island, Equatorial Guinea.
8:00 PM EST | May 18, 2004
Torch Offshore Reports 2004 First Quarter Earnings
Torch Offshore announced that revenues for the quarter ended March 31, 2004 were $11.8 million, a decrease of 30.5 percent compared to revenues of $17.0 million for the first quarter of 2003.
8:00 PM EST | May 12, 2004
Torch Offshore Reports 2003 Fourth Quarter & Annual Results
Torch Offshore says revenues for the quarter ended December 31, 2003 were $19.4 million, a decrease of 20.9 percent compared to revenues of $24.5 million for the fourth quarter of 2002.
8:00 PM EST | April 14, 2004
Torch Offshore Negotiating 1st Contract for Midnight Express
Torch Offshore is beginning contract negotiations with Mariner Energy for the first pipelay project for the Midnight Express which is expected to take place in the fourth quarter of 2004 following the vessel conversion completion.
8:00 PM EST | April 14, 2004
Torch Says Conversion of Midnight Express in Final Stages
Torch Offshore reports that the conversion project of the Midnight Express is in its final stages. The Company has spent $90.0 million to date of the total of approximately $109.0 million to be expended on the conversion project.
7:00 PM EST | March 31, 2004
Midnight Wrangler Wins Two Gulf of Mexico Contracts
Torch Offshore has two upcoming projects for the Midnight Wrangler with total revenues approximated at $4.3 million.
7:00 PM EST | March 15, 2004
Torch Offshore Charters Midnight Hunter
Torch Offshore has entered into a time charter for the Midnight Hunter, a 340-foot DP-2 deepwater capable vessel, and intends to utilize the vessel in a diving support capacity.
7:00 PM EST | February 22, 2004
Torch Offshore Sees Increase in Fleet Activity
Torch Offshore has seen an increase in its fleet activity in the Gulf of Mexico in the past few months.
8:00 PM EST | October 02, 2003
Torch Appoints New VP of International Business Development
Torch Offshore announced that Patrice Chemin has joined the Company's management team as the Vice President - International Business Development.
8:00 PM EST | September 24, 2003
Torch Offshore's Midnight Wrangler Completes First Project
Torch Offshore reports that the Midnight Wrangler has completed its first project for Mariner Energy.
8:00 PM EST | August 07, 2003
Torch Offshore Completes Finance Facility
Torch Offshore revealed that the $60.0 million finance facility with Regions Bank and Export Development Canada to fund the conversion of the Midnight Express into a DP-2 offshore pipelay and construction vessel has been completed.
8:00 PM EST | May 11, 2003
Torch Offshore Awarded Grant for Patent on Pipelay System
The United States Patent and Trademark Office has issued a patent to Torch for its Reel Type Pipeline Laying Ship and Method. This new pipelay system will be installed on the Midnight Express.
8:00 PM EST | May 08, 2003
Torch to Complete Financing on Midnight Express Project Soon
Torch Offshore has met all contract conditions for the conversion project on the Midnight Express except for closing on the financing, which is expected to occur soon.
8:00 PM EST | April 15, 2003