Gulf Oil and Gas accountACCOUNT

Shelf Drilling Enters Agreement to Purchase Ocean Scepter Jack-Up Rig

Source: www.gulfoilandgas.com 7/2/2018, Location: Middle East

Share |
Shelf Drilling has entered into a definitive agreement with subsidiaries of Diamond Offshore to purchase the Ocean Scepter jack-up drilling rig. The total cost for the rig (including the purchase price, the expected costs for the planned reactivation, and mobilization of the rig for its intended purpose) is expected to be approx. US$90 million. This all-in cost is substantially in line with the three jack-ups purchased by Shelf Drilling in 2017.

The Ocean Scepter rig was built in 2008 and is of KFELS Mod Super B design, consistent with the Group's rig acquisition strategy. The premium high-spec jack-up rig is currently located in the US Gulf of Mexico. Upon delivery, the rig will be mobilized to the Middle East, and the Group's total shallow water rig count will increase from 39 rigs to 40 rigs.

Shelf Drilling will finance the acquisition with proceeds from the Initial Public Offering (IPO) completed earlier in June, and cash on hand. The transaction is subject to customary closing conditions, and the rig is expected to be delivered during the third quarter of 2018.

Rigs >>

Rigs News in United Arab Emirates >>

Denmark >>  11/11/2018 - Maersk Drilling has entered into an agreement to sell the jack-up rig Maersk Giant to an Australasian-based independent O&G operator. The transaction ...
Kuwait >>  11/1/2018 - ADES International Holding Ltd., a leading oil & gas drilling and production services provider in the Middle East and North Africa (MENA), has complet...

Oman >>  10/31/2018 - As part of its in-country value (ICV) strategy to support locally manufactured materials and maximise expenditure on goods and services made in Oman, ...
Netherlands/Holland >>  10/22/2018 - Petrogas E&P Netherlands has exercised an option with Maersk Drilling to extend the current contract of jack-up rig Maersk Resolute. The contract exte...

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

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


United Arab Emirates Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 |

More News

 

Oil & Gas Companies in United Arab Emirates >>


Related Links

Gulf Oil and Gas
Copyright Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.