Gulf Oil and Gas accountACCOUNT

Borr Drilling Intends to Acquire 15 High-Specification Jack-Up Rigs from Transocean

Source: www.gulfoilandgas.com 3/20/2017, Location: North America

Share |
Borr Drilling Limited is pleased to announce the signing of a letter of intent with transocean for the acquisition of 15 high-specification jack-up rigs. The transaction consists of Transoceanís entire jack-up fleet, comprising 10 rigs in Transoceanís fleet and 5 new-builds under construction at keppel fels limited.

Total consideration for the transaction is expected to be approximately USD 1.35 Bn and includes remaining contract backlog and remaining yard instalments to keppel fels for the five new-builds. The board of directors of keppel fels has pre-approved the novation of the new-building contracts.

A deposit has in line with what has been agreed between the parties been paid from Borr to transocean. Borr has secured financing for the transaction through a private placement of equity securities. The transaction is subject to the parties executing definitive agreements and satisfying formal closing conditions, including a final approval from the boards of directors of both companies. The completion of the transaction is expected to take place before the end of May 2017.

Rigs >>

Rigs News in United States >>

Morocco >>  4/18/2017 - Sound Energy, the African and European focused upstream gas company, is pleased to announce the mobilisation of a rig to the Company's Sidi Moktar ass...
Bermuda >>  4/11/2017 - North Atlantic Drilling Ltd (North Atlantic) has secured 10-year contract awards for the jack-ups West Elara and West Linus with ConocoPhillips Skandi...

Canada >>  4/7/2017 - Seadrill Partners LLC (SDLP) has secured a one well contract with BP Canada Energy Group ULC for the West Aquarius in eastern Canada. The contract is ...
United Kingdom >>  4/4/2017 - Statoil and license partners have decided to use the semisubmersible rig Transocean Spitsbergen on three exploration wells in the UK, and then on a si...

Related Categories: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 

Related Articles: General  Rig Equipment  Rig Operators  Rigs, Coring & Exploration 


United States Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 |

More News

 

Oil & Gas Companies in United States >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.