# ODECO

> Mediated Wiki article. Canonical URL: https://mediated.wiki/source/ODECO
> Markdown URL: https://mediated.wiki/source/ODECO.md
> Source: https://en.wikipedia.org/wiki/ODECO
> Source revision: 1357085587
> License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/)

Defunct offshore drilling company

Ocean Drilling & Exploration Company Industry Petroleum industry Founded 1953; 73 years ago (1953) Founder Alden J. "Doc" Laborde John Hayward Defunct 1992; 34 years ago (1992) Fate Acquired by Diamond Offshore Drilling Headquarters New Orleans

**ODECO** (**Ocean Drilling & Exploration Company**) was an [offshore drilling](/source/Offshore_drilling) company. In 1992, it was acquired by [Diamond Offshore Drilling](/source/Diamond_Offshore_Drilling).

## History

In 1953, the company was founded by Alden J. "Doc" Laborde, who also founded [Tidewater](/source/Tidewater_(marine_services)), and John Hayward. Hayward was the builder of the Barnsdall rig and holder of the patent on [submersible drilling](/source/Submersible_drilling) barge methodology. Charles Murphy Jr. of [Murphy Oil](/source/Murphy_Oil) invested $500,000 in the company and assisted Laborde in finding additional investors.[1]

Alexander Shipyard in [New Orleans](/source/New_Orleans) constructed the company's first rig, which was delivered in 1954 and immediately contracted to [Shell Oil](/source/Shell_Oil). The rig was named *Mr.Charlie* after Charles Murphy. *Mr. Charlie* was retired in 1986.[2]

After noticing the stability of submersible rigs when they were only partially submerged for relocation and the success of Shell's conversion of the Blue Water rig, Laborde designed and constructed the first purpose-built V-shaped [semi-submersible](/source/Semi-submersible) drilling rig, *Ocean Driller*, delivered in 1963.[3]

In 1982, *[Ocean Ranger](/source/Ocean_Ranger)*, one of the company's [oil platforms](/source/Oil_platform), sank in a violent storm in Canadian waters east of [Newfoundland](/source/Newfoundland), killing 84 people.[4][5]

Also in 1982, the company took delivery of *[Odyssey](/source/Odyssey_(launch_platform))*. The rig suffered a [blowout](/source/Blowout_(well_drilling)) in 1988.[6]

In 1991, Murphy Oil acquired the company.[7]

In 1992, [Diamond Offshore Drilling](/source/Diamond_Offshore_Drilling) acquired the company from Murphy Oil for $358 million.[8]

## References

1. **[^](#cite_ref-dohistory_1-0)** ["Diamond Offshore History"](https://web.archive.org/web/20181209165156/http://www.diamondoffshore.com/our-history). [Diamond Offshore](/source/Diamond_Offshore). Archived from [the original](http://www.diamondoffshore.com/our-history) on 2018-12-09. Retrieved 2018-12-07.

1. **[^](#cite_ref-2)** ["Rig Museum"](https://web.archive.org/web/20090619101649/http://www.rigmuseum.com/charlie1.html). International Petroleum Museum and Exposition. Archived from [the original](http://www.rigmuseum.com/charlie1.html) on 2009-06-19. Retrieved 2009-10-13.

1. **[^](#cite_ref-3)** Tyler Priest (October 17, 2014). ["*Offshore at 60: The Blue Water Breakthrough*"](https://www.offshore-mag.com/home/article/16804652/offshore-at-60-the-blue-water-breakthrough/). [PennWell](/source/PennWell). Retrieved October 16, 2021.

1. **[^](#cite_ref-4)** ["84 FEARED DEAD AS OIL-DRILLING RIG REPORTEDLY SINKS IN NORTH ATLANTIC"](https://www.nytimes.com/1982/02/16/world/84-feared-dead-as-oil-drilling-rig-reportedly-sinks-in-north-atlantic.html). *[New York Times](/source/New_York_Times)*. [Associated Press](/source/Associated_Press). February 16, 1982.

1. **[^](#cite_ref-5)** ["Ocean Ranger sinking still haunts 30 years later"](https://www.cbc.ca/news/canada/newfoundland-labrador/ocean-ranger-sinking-still-haunts-30-years-later-1.1181316). *[CBC](/source/Canadian_Broadcasting_Corporation)*. February 15, 2012.

1. **[^](#cite_ref-6)** ["A rescue fleet of boats and aircraft safely evacuated"](https://www.upi.com/Archives/1988/09/22/A-rescue-fleet-of-boats-and-aircraft-safely-evacuated/1485590904000/). *[United Press International](/source/United_Press_International)*. February 15, 2012.

1. **[^](#cite_ref-7)** ["Murphy Oil accepts Odeco stock"](https://www.upi.com/Archives/1991/06/27/Murphy-Oil-accepts-Odeco-stock/1187677995200/). *[United Press International](/source/United_Press_International)*. September 22, 1988.

1. **[^](#cite_ref-8)** ["Loews Corp Hits A Gusher"](https://www.washingtonpost.com/archive/business/1996/11/21/loews-corp-hits-a-gusher/61c7ab59-0463-4344-addc-057e690bbf96/). *[The Washington Post](/source/The_Washington_Post)*. November 21, 1996.

Authority control databases VIAF

---
Adapted from the Wikipedia article [ODECO](https://en.wikipedia.org/wiki/ODECO) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/ODECO?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.