Seadrill sells heavy-duty rigs

Offshore staff

HAMILTON, Bermuda -- North Atlantic Drilling has completed its acquisition of Seadrill’s harsh-environment drilling activities for $4.1 billion. The transaction followed North Atlantic’s private placement of 250,000,000 new shares in February, and the securing of a $2-billion loan facility.

North Atlantic Drilling will have five drilling rigs in operation – all 1,050 personnel have agreed to transfer to the new owner. A sixth rig, the West Elara, should be delivered shortly from the Jurong Shipyard and will then start drilling operations for Statoil in the North Sea.

In addition, Seadrill has decided to offer the recently ordered harsh environment jackup West Linus, which will be delivered to North Atlantic at its cost. This rig has a five-year drilling contract lined up offshore Norway for ConocoPhillips.

04/04/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...