GlobalSantaFe Corporation was an offshore drilling contractor headquartered in Houston, Texas. It owned 59 marine drilling rigs. In November 2007, the company was acquired by Transocean. History The company was formed in 2001 by the merger of Global Marine and Santa Fe International Corporation. In March 2003, the company temporarily suspended operations in Kuwait ahead of the Iraq War. In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million. In August 2004, one of the company's rigs sank in the Mediterranean Sea about 25 miles offshore Egypt after a fire broke out on the rig. In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs. In November 2007, the company was acquired by Transocean. References 2001 establishments in Texas 2007 disestablishments in Texas Companies formerly listed on the New York Stock Exchange Defunct oil companies of the United States Transocean