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Transocean (RIG) Implements Tech to Increase Drilling Rig Safety
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Transocean Ltd. (RIG - Free Report) announced the implementation of the first safety system of the offshore drilling industry — the HaloGuard system — which incorporates a wearable locating device along with drill floor equipment and machine stoppage controls.
The HaloGuard system tends to locate the positions of workers operating in the offshore drilling programs by combining a wearable alarm and a real-time location transmitter with a machine vision system. With the new technology, HaloGuard offers an advanced layer of personal security on drill floors.
Following the integration of the drill floor equipment and machine stoppage controls, the system will notify officials through the wearable alarm once they arrive in the immediate vicinity of the moving equipment. Notably, the system will prevent further movement of the equipment until the worker shifts to a secure and far-off position.
Transocean designed the methodology and technology of the system, with support from Ocean Robotics firm Houston Mechatronics Inc. and Salunda Limited. Notably, Salunda Limited aims to provide robust monitoring applications for energy markets and Transocean integrated Salunda’s patented CrewHawk real-time location technology to accurately track locations. The installation of HaloGuard is likely to enhance the safety of workers on drill floors by reducing the possibility of risks during offshore operations.
The HaloGuard system is currently functional on the drillship Deepwater Conqueror in the Gulf of Mexico and its implementation reflects Transocean’s potential to develop and upgrade approaches within the offshore drilling industry. Importantly, Transocean believes that HaloGuard will be a marking safety system, which most companies would prefer to utilize within the energy and other industries.
Company Profile & Price Performance
Headquartered in Steinhausen, Switzerland, Transocean is one of the leading providers of drilling-management services and is the largest offshore drilling contractor in the world. The company’s stock has gained 200% in the past three months.
Zacks Rank & Stocks to Consider
Transocean currently carries a Zack Rank #4 (Sell).
Eni’s earnings for 2021 are expected to surge 315% year over year.
Geopark’s earnings for 2021 are expected to rise 206% year over year.
World Fuel Services’s earnings for 2021 are expected to increase 59.1% year over year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Transocean (RIG) Implements Tech to Increase Drilling Rig Safety
Transocean Ltd. (RIG - Free Report) announced the implementation of the first safety system of the offshore drilling industry — the HaloGuard system — which incorporates a wearable locating device along with drill floor equipment and machine stoppage controls.
The HaloGuard system tends to locate the positions of workers operating in the offshore drilling programs by combining a wearable alarm and a real-time location transmitter with a machine vision system. With the new technology, HaloGuard offers an advanced layer of personal security on drill floors.
Following the integration of the drill floor equipment and machine stoppage controls, the system will notify officials through the wearable alarm once they arrive in the immediate vicinity of the moving equipment. Notably, the system will prevent further movement of the equipment until the worker shifts to a secure and far-off position.
Transocean designed the methodology and technology of the system, with support from Ocean Robotics firm Houston Mechatronics Inc. and Salunda Limited. Notably, Salunda Limited aims to provide robust monitoring applications for energy markets and Transocean integrated Salunda’s patented CrewHawk real-time location technology to accurately track locations. The installation of HaloGuard is likely to enhance the safety of workers on drill floors by reducing the possibility of risks during offshore operations.
The HaloGuard system is currently functional on the drillship Deepwater Conqueror in the Gulf of Mexico and its implementation reflects Transocean’s potential to develop and upgrade approaches within the offshore drilling industry. Importantly, Transocean believes that HaloGuard will be a marking safety system, which most companies would prefer to utilize within the energy and other industries.
Company Profile & Price Performance
Headquartered in Steinhausen, Switzerland, Transocean is one of the leading providers of drilling-management services and is the largest offshore drilling contractor in the world. The company’s stock has gained 200% in the past three months.
Zacks Rank & Stocks to Consider
Transocean currently carries a Zack Rank #4 (Sell).
Some better-ranked players in the energy space are Eni SPA (E - Free Report) and Geopark Ltd (GPRK - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), and World Fuel Services Corporation , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Eni’s earnings for 2021 are expected to surge 315% year over year.
Geopark’s earnings for 2021 are expected to rise 206% year over year.
World Fuel Services’s earnings for 2021 are expected to increase 59.1% year over year.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>