Mexico’s CP Latina Buys Another Jack-Up Rig

CP Latina Buys Another Jack-Up Rig

Mexican company CP Latina has executed its option to acquire Standard Drilling’s B338 jack-up rig, currently under construction in Singapore.

The value of the acquisition is estimated at approximately USD 215 million. To remind, CP Latina yesterday completed acquisition of the jack-up rig B337, also under construction at Keppel Fels shipyard. The Mexican company paid USD 222.5 million for the B337 rig.

After the completion of the B338 transaction, Standard Drilling will have one rig left (B340) which is scheduled to be delivered from the Keppel Fels yard in May 2014.

Related:

Standard Drilling Completes Sale of Jack-Up Rig to Mexican Client

Offshore Energy Today Staff, January 16, 2013