The Peregrine I

The Peregrine I, a drill ship that’s no longer in service, was a Pelican Class model designed by Gusto MSC. Built by Rauma Repola Oy at the Pori Shipyard in Finland in 1982, this deepwater floater possessed a maximum water depth of 5,200 feet and a drill depth that was nearly five times (25,000 feet) that amount.

The dimensions of the Peregrine I were 490 feet in length, a breadth of 80 feet and a depth of 41.5 feet. The ship’s hookload capacity was 600 tons and the gross tonnage was 11,710 tons.

Like many ships in this industry, it went through a series of name changes, beginning with the Mikhail Mirchink when it was first in service. Originally under the flag of Russia, it kept this name until becoming Onyx in 1995 and finally Peregrine I the next year.

The beginning of the end for the ship began when Transocean sold it for $259 million in December 2007 to Dallas’ Mike Mullen Energy Equipment Resource Inc. Also included in the overall investment was GE Energy Financial Services. At the time of the purchase, the Peregrine I was under a six-year contract to Brazilian oil giant Petrobras and the price of that commodity was virtually at its peak.

However, within a year, the worldwide economic meltdown helped to slice prices in half, which resulted in a cancellation of the contract in 2010. The following year in April, the Peregine I was forced to file for bankruptcy and by November of that year, it was put up for auction and purchased by LaPatagonia Offshore for just $5 million.

The original plan was to have some of the following items added to the ship: new thrusters, a 50-ton crane and dynamic positioning. However, the ship was eventually retired and is now located in Singapore.