Shelf Drilling, Ltd. publicizes that it has entered right into a definitive settlement with subsidiaries of Diamond Offshore to buy the Ocean Scepter jack-up drilling rig. The whole price for the rig (together with the acquisition value, the anticipated prices for the deliberate reactivation, and mobilization of the rig for its meant objective) is predicted to be roughly US$90 million. This all-in price is considerably in step with the three jack-ups bought by Shelf Drilling in 2017. The Ocean Scepter rig was in-built 2008 and is of KFELS Mod Super B design, in keeping with the Group’s rig acquisition technique. The premium high-spec jack-up rig is at present situated within the US Gulf of Mexico. Upon supply, the rig can be mobilized to the Middle East, and the Group’s whole shallow water rig depend will improve from 39 rigs to 40 rigs. Shelf Drilling will finance the acquisition with proceeds from the Initial Public Offering (IPO) accomplished earlier in June, and money readily available. The transaction is topic to customary closing circumstances, and the rig is predicted to be delivered in the course of the third quarter of 2018.
Shelf Drilling is a number one worldwide shallow water offshore drilling contractor with rig operations throughout Middle East, Southeast Asia, India, West Africa and the Mediterranean. Shelf Drilling was based in 2012 with the acquisition of 37 jack up drilling rigs and one swamp barge from Transocean. (Source: Shelf Drilling – Image: Baltic Shipping)

The submit SHELF DRILLING ACQUIRES DIAMOND OCEAN SCEPTER JACKUP appeared first on Energy Global News.

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