Shelf buys jack-up rig from Diamond Offshore for $90M

Illustration only: A KFELS B jack-up rig (Image source: Keppel)

Offshore driller Shelf Drilling has entered into a definitive agreement to buy the Ocean Scepter jack-up drilling rig from Diamond Offshore.

Shelf Drilling said the 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 $90 million.

“This all-in cost is substantially in line with the three jack-ups purchased by Shelf Drilling in 2017,” Shelf Drilling said on Monday.

The Ocean Scepter rig was built in 2008 and is of KFELS Mod Super B design. It 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 said it would 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.

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2018 >>
MTWTFSS
25 26 27 28 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 3 4 5

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >

FPSO World Congress 2018

The Congress will continue its global focus and will feature the biggest and most important names in the FPSO industry…

read more >

SPE Asia Pacific Oil & Gas Conference and Exhibition 2018

As the energy industry adapts to a new status quo operating under sustained low oil prices, there continues to be a need for the industry…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply