Seadrill Buys Under-Construction Rig in China

Seadrill Buys Under-Construction Rig in China

Prospector Offshore Drilling today informed that it has entered into an agreement to sell an under-construction jack-up rig to Seadrill.

According to a press release issued by Prospector Offshore this morning, Seadrill will pay $55.2 million in cash to Prospector for the JU2000E-design rig, being built in China.

The closing of the transaction will be subject to obtaining the approval of DSIC-Offshore, the China-based company constructing the rig.

Robert W. Rose, the Company President and CEO, commented today: “The agreement for the sale of shares in Prospector Rig 3 Owning Company S.à r.l. is an important step for the Company. Proceeds from the sale, will substantially strengthen the Company’s balance sheet as we prepare to take delivery of the remaining rigs.”

Seadrill will pay a total purchase price of US$235 million for the rig. In addition, Seadrill will provide drilling and handling tools, spares and operations preparations resulting in a total cost for this rig, ready to drill, of approximately US$250 million.

The Prospector 3 is scheduled to be delivered from Dalian Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore) in China during the first quarter of 2014. The new unit is based on the F&G JU2000E design, with water depth capacity of 400ft and drilling depth of 35,000ft.

The lack of premium jack-up newbuild activity over the last decade is beginning to be felt and demand is currently exceeding available supply. The tightness in the market is leading many customers to contract these units for significantly longer terms than previously experienced for this asset class.

“The Board of Seadrill continues to be of opinion that the premium jack-up market provides a compelling investment opportunity,” Seadrill said in a statement.

 

Offshore Energy Today Staff, November 15, 2013

 

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2015 >>
MTWTFSS
29 30 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 1 2

Tanzania Oil & Gas Expo 2015

This event will be the hub for key players in the Oil and Gas industry, attracting leading oil, gas and petroleum companies from around the world…

read more >

2015 API Offshore Safe Lifting Conference & Expo

The conference is expected to host 500 offshore lifting professionals, crane operators, management, and safety personnel. This is the best…

read more >

SPE ASIA PACIFIC ENHANCED OIL RECOVERY CONFERENCE

Oil and gas are expected to remain an important source for future world energy demand. However, conventional oil and gas production from…

read more >

2015 NAPE Summer Exhibitor Rates

This event offers producers and purchasers a unique chance to connect, reconnect, and make deals…

read more >

Jobs>

Electrician

For one of our clients we are looking for a Ships Electrician. Our client is a company with worldwide activities. You will work in a rotation of 4 till 6 weeks on and off.

apply

QC Coordinator Offshore

Do you attach great importance to quality and do you have an affinity with offshore projects? Then read about what Van Oord can offer you.

apply

Assistant Driller

Maersk Drilling Norge AS was established in 1990 and employs a staff of approximately 1000 people.

apply